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Golden Matrix Group, Inc. is a prominent gaming technology company that focuses on developing and owning online gaming IP and constructing configurable and scalable white-label social gaming platforms for its international customers in the Asia Pacific region. The company operates in both B2B and B2C segments, with the B2C segment generating the majority of revenue. With operations in the UK, Asia Pacific, and Latin America, Golden Matrix offers configurable and scalable iGaming platforms and operates well-known brands like MexPlay, R Kings Competitions, and GM-AG.
Founded in 2008 and based in Las Vegas, Nevada, Golden Matrix provides tools for marketing, acquisition, retention, and monetization of users. The company's platform is accessible through desktop and mobile applications. Formerly known as Source Gold Corp., the company changed its name to Golden Matrix Group, Inc. in March 2016.
Golden Matrix Group (NASDAQ:GMGI) has upgraded its Tournament Platform for RKings in Ireland and the UK, enhancing player features and functionality. The revamped platform aims to boost participation and revenue from skill tournaments. GMGI anticipates expanding the platform into other regulated markets like Mexico upon obtaining necessary permits. The CEO highlighted the platform's scalability and the company's previous revenue growth from RKings' B2C skill tournaments, marking a shift from licensing fees primarily from the Asia Pacific region.
Golden Matrix Group (NASDAQ: GMGI) announced a new broadcast, “Online Gaming — A Sure Bet.” The global online gambling market was valued at $72.3 billion in 2021 and is projected to reach $131.4 billion by 2027, growing at a CAGR of 9.96%. GMGI is leveraging this growth with innovative gaming IP that enhances customer acquisition, retention, and monetization for operators. The company has reported 14 consecutive quarters of increased profitability, indicating strong operational performance. For more details, visit GoldenMatrix.com.
Golden Matrix Group Inc. (NASDAQ: GMGI) is featured in an editorial by NetworkNewsWire, highlighting the rapid growth of the online gaming market, projected to exceed $130 billion in the next five years. The company boasts an impressive 14 consecutive quarters of profitability and has established a strong market presence with over 580 unique casino operations, 3,161 original games, and 6 million-plus end users. Golden Matrix specializes in scalable white-label B2B gaming platforms, enhancing its capabilities in user acquisition and monetization.
Golden Matrix Group (GMGI), a gaming technology company, has partnered with IBN to enhance corporate communications. This collaboration aims to leverage IBN's extensive investor network to promote GMGI's online gaming solutions, particularly in the Asia-Pacific market. Golden Matrix's GM-X and GM-Ag systems provide over 10,000 games to more than 6 million players and support over 500 unique casino brands. The partnership is expected to increase brand awareness and drive growth in online gaming, which is anticipated to gain market share from traditional casinos.
Golden Matrix Group (NASDAQ: GMGI) announced the launch of its GMX-Ag system with eight online casino operators across six countries, enhancing its B2B offerings. CEO Brian Goodman emphasized this strategic expansion into new markets, especially outside the traditional Asia Pacific region. The company acquired an 80% stake in RKings Competitions Ltd., contributing to significant revenue growth of 355% in Q1 2022, totaling $8.88 million. GMGI's recent Nasdaq uplisting is seen as a catalyst for future acquisitions and growth plans.
Golden Matrix Group has received approval from The Nasdaq Stock Market to list its common stock on the Nasdaq Capital Market, trading under symbol GMGI, effective March 17, 2022. CEO Brian Goodman emphasized that this uplisting is crucial for enhancing visibility and expanding their stakeholder base, aiming to bolster long-term shareholder value. The company focuses on developing online gaming platforms, targeting new global markets to accelerate revenue and profit growth through acquisitions.
Golden Matrix Group Inc. (OTCQX:GMGI) announced its common shares will commence trading on Nasdaq starting March 17, 2022. The company specializes in developing online gaming platforms and has a robust presence in the Asia Pacific region. GMGI provides customizable social gaming platforms for its international clients, along with tools for user acquisition and monetization. The company complies with US laws by automatically declining gaming requests from within the US, ensuring legal adherence while expanding its market footprint.
Golden Matrix Group (OTCQX:GMGI) reported record revenues of $8,877,105 for Q1 ended January 31, 2022, marking a 355% increase from $1,951,406 in the same quarter last year. The net income rose to $349,379 compared to $52,158 a year earlier. Cash-on-hand stands at $15,242,266, with total assets of $32,134,960 and liabilities of $4,557,195. GMGI has recorded 14 consecutive quarters of profitability, driven by growth in its B2B segment and contributions from the recently acquired RKings, contributing $5.5 million to revenues.
Golden Matrix Group (OTCQX: GMGI) announced its application for a Mexican gaming license, aiming to expand igaming services in Latin America. CEO Brian Goodman emphasized the potential for significant revenue generation and profitability through the RKings tournament platform. The company reported record quarterly revenues for the first fiscal quarter ended January 31, 2022, bolstered by its acquisition of an 80% stake in RKings. Further operational details will be disclosed in the upcoming 10-Q filing by March 10, 2022.
Golden Matrix Group (GMGI) announced anticipated record quarterly revenues of approximately $7.7 million for Q1 FY2022, marking a 295% increase from $1.95 million in Q1 FY2021 and a 124% rise from the previous quarter.
The growth was driven by the acquisition of an 80% stake in UK-based RKingsCompetitions, contributing significantly to revenues through its B2C skill tournaments. GMGI's current cash position stands at $14.9 million, supporting future expansions and acquisitions.
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