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Overview of Golden Matrix Group Inc.
Golden Matrix Group Inc. (NASDAQ: GMGI) is a seasoned gaming technology company renowned for developing and licensing online gaming IP and configurable, scalable white-label social gaming platforms. With strong roots in the Asia Pacific region and operational footprints in international markets including the UK and Latin America, the company has established itself as a significant player in both the B2B and B2C sectors. Key industry keywords such as "online gaming platforms", "gaming technology", and "iGaming innovation" are integral to its identity.
Core Business and Operations
Golden Matrix Group Inc. operates two primary segments: its B2B division focuses on creating proprietary gaming platforms that are tailored to meet the needs of an extensive client base, while its B2C division, which includes the regulated online sports betting and iGaming operations under the Meridianbet brand, drives a majority of the revenue. The company leverages a unique combination of sophisticated software, AI-enhanced tools, and scalable systems to deliver a versatile product range—from online gaming content to integrated sports betting solutions. Whether accessed through desktop or mobile applications, its platforms are designed with comprehensive tools that tackle marketing, user acquisition, retention, and monetization.
Technological Innovation and Product Offerings
The company’s expertise is rooted in its advanced, proprietary technology that powers multiple gaming experiences. With products that include configurable social gaming platforms and AI-powered decision tools such as the Bet Recommender, Golden Matrix provides its clients with cutting-edge solutions that enhance user engagement. The implementation of high-tech systems such as the Atlas platform underscores its commitment to continuous technological innovation and operational excellence.
Market Presence and Competitive Landscape
Golden Matrix Group is strategically positioned in a competitive global market. It operates in regulated jurisdictions across Asia Pacific, the UK, Latin America, and other international markets. Regardless of the regulatory environment, the company maintains robust compliance measures and operational discipline. Its diverse product portfolio, which spans online sports betting, gaming competitions, and eCommerce platforms for competitions, distinguishes it from competitors by offering a multifaceted approach to engaging both end users and business partners.
Regulatory Compliance and Security Standards
Operating in multiple jurisdictions demands strict adherence to local laws and regulations. Golden Matrix Group ensures that all its platforms and gaming content meet rigorous industry standards and regulatory compliance. Its systems are designed to automatically manage adherence to legal requirements, such as automatic declines for gaming requests from prohibited jurisdictions, thereby reinforcing the company’s commitment to responsible gaming practices.
Operational Excellence and Industry Recognition
Golden Matrix Group has built a reputation not only for its technological prowess but also for its operational discipline. By continuously upgrading its platforms and integrating strategic acquisitions—such as the full integration of Meridianbet—the company underscores its dedication to delivering high-quality gaming experiences. The balanced approach to both B2B and B2C operations further solidifies its position in an industry that thrives on constant innovation and adherence to quality standards.
Conclusion
This comprehensive overview demonstrates that Golden Matrix Group Inc. stands as a sophisticated, technology-driven enterprise within the gaming industry. It combines robust B2B solutions with consumer-facing platforms that cater to a diverse and expanding global market. The company’s integrated model, reliance on proprietary technology, and unwavering commitment to regulatory compliance ensure that it remains a well-recognized participant in the evolving landscape of online gaming and iGaming services.
Golden Matrix Group (NASDAQ: GMGI) has entered an Exclusive Distribution agreement with Elray Resources, enabling GMGI to supply gaming content to Elray's clients, including B2B Crypto Casino systems. This collaboration aligns with the booming global crypto gambling industry, projected to reach $93 billion by 2024. CEO Goodman expresses optimism about revenue generation from this partnership. Elray's proprietary technology will enhance GMGI's offerings, allowing for further growth in the expanding crypto casino market.
Golden Matrix Group (NASDAQ:GMGI) announced preliminary revenues exceeding $34 million for the fiscal year ending October 31, 2022, marking a 201% increase from $11.3 million in 2021. The company’s acquisition of an 80% stake in RKingsCompetitions contributed to this growth. The B2B segment showed a 30% revenue increase, servicing over 600 online casino brands with 6.8 million registered users. RKings awarded $14.5 million in prizes, attracting 261,000 tournament participants. Detailed financial results will be available in the upcoming Form 10-K.
Golden Matrix Group (NASDAQ: GMGI) announced the acquisition of the remaining 20% stake in RKings Competitions, Ltd., using 165,444 restricted shares as compensation. This move allows GMGI to fully control a scalable B2C business expected to grow in regulated markets, including Mexico. CEO Brian Goodman highlighted the potential expansion into Latin America and the launch of GMGI Assets, which aims to enhance revenue through auto tournament offerings. The acquisition is pending certain final requirements.
Golden Matrix Group (NASDAQ: GMGI) has acquired the remaining 20% interest in RKings Competitions, issuing 165,444 restricted shares to the former owners. CEO Brian Goodman anticipates rapid growth for RKings' B2C tournament platform, especially in the UK and expanding into Mexico and Latin America. The company has also launched GMGI Assets, aimed at enhancing revenue by reselling vehicles from tournament prizes. This integration is expected to contribute positively to GMGI's financial results as the number of tournaments grows.
Golden Matrix Group (NASDAQ: GMGI) announced the launch of its online casino platform, MEXPLAY, in Mexico, set to go live on November 1, 2022. This licensed B2C casino will feature numerous table games, slots, and a sportsbook, along with tournament competition prizes. CEO Brian Goodman highlighted that the newly acquired RKings operations now account for over 50% of their revenues and profits, with expectations for significant contributions from MEXPLAY. The LATAM betting market's gross gaming revenue is projected to rise from 1.3 billion USD in 2020 to 3.4 billion USD by 2025.
Golden Matrix Group Inc. (NASDAQ:GMGI) reported impressive financial results for Q3 2022, achieving revenues of $9,101,541, a 180% increase from Q3 2021. The net income attributable to GMGI rose to $628,332, compared to $484,613 last year. Year-to-date revenues reached $26,461,389, up 237%, with a net income of $1,564,695. The company boasts cash reserves of $15,869,660 and total assets of $33,385,620. GMGI has recorded 16 consecutive profitable quarters and is focusing on expanding its operations, particularly in the UK and Mexico.
Golden Matrix Group (NASDAQ:GMGI) reported record revenues of over $9 million for the third fiscal quarter ended July 31, 2022, marking a 177% increase compared to $3.25 million in the same period last year. This growth reflects the company’s progress in both B2B and B2C segments, despite global economic challenges. The acquisition of an 80% interest in UK-based RKings has contributed significantly to revenue. GMGI plans to expand RKings' platform into new markets, starting in Mexico, with operations expected to commence in the current quarter.
Golden Matrix Group Inc. (NASDAQ:GMGI) reported Q2 2022 revenues of $8,482,743, a remarkable increase of 221% year-over-year. The company recorded a net income of $586,984 for the quarter, up from $127,986 a year ago. In the first six months, revenues totaled $17,359,848, reflecting a 278% growth from the prior year. Cash and equivalents stood at $15,811,213 with total assets of $33,501,019. GMGI achieved profitability for 15 consecutive quarters, with significant revenue contributions from its new acquisition, RKings. The company plans to expand the RKings platform into new markets.
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.
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