Nasdaq:GMGI
Golden Matrix Announces Launch of Upgraded RKings Tournament Platform
LAS VEGAS , May 17, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Golden Matrix Group Inc. (NASDAQ:GMGI) (“GMGI” or the “Company”), a developer and licensor of gaming platforms, systems and gaming content, today announces it has launched a robust upgraded Tournament Platform with added features and functionality for Rkings’ Players in Ireland and the United Kingdom. Participants now have immediate access to all prize competitions at: www.Rkingscompetitions.com.
The new platform can be seen at www.Rkingscompetitions.com.
The new platform is expected to increase both the monthly number of skill tournaments and participants, thus generating even stronger revenue and profit from RKings’ prize competition business. Because it is highly scalable, the platform can be introduced into other regulated markets; and GMGI plans to go live with the platform in Mexico as soon as its Mexican gaming permit has been approved.
“This significant upgrade to the RKings platform will accelerate the growth of our B2C businesses, offering added functionality and features and also allowing us to expand into new geographic regions and strengthen our global footprint,” said Golden Matrix CEO Brian Goodman. “We believe the GMGI/RKing product offerings will be received enthusiastically by players in all regulated markets where we are licensed. At a time when global economic growth is being challenged, we are fortunate to have a scalable business model that has already demonstrated consistent profitability.”
Mr. Goodman noted that prior to fiscal 2022, Golden Matrix revenues were derived primarily from licensing fees received from gaming operators located in the Asia Pacific (APAC) region and integrated with the Company’s state-of-the-art GM-X platform. As a result of the Company’s acquisition of RKings, the first half of fiscal 2022 (ended April 30) included significant revenue and profit contributions from RKings’ B2C skill tournaments.
About Golden Matrix
Golden Matrix Group, based in Las Vegas, Nevada, is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label B2B gaming platforms for its international customers, located primarily in the Asia Pacific region. The gaming IP includes tools for marketing, acquisition, retention and monetization of users. The Company’s platform can be accessed through both desktop and mobile applications. As a result of its 80% controlling ownership interest in U.K.-based RKings Competitions Ltd. Golden Matrix also generates revenues from RKings’ scalable B2C tournament platform.
The Company’s sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current U.S. law.
About RKings
Based in Northern Ireland, RKings is a prize competition business offering customers in Ireland and the United Kingdom paid-for-entry and free-entry routes to enter prize competitions in order to win a range of consumer products as prizes. Customers can access competitions via iOS or Android apps as well as online, where they can win prizes ranging from super cars to luxury holidays.
The competitions are currently open only to residents of Ireland and the United Kingdom.
Forward-Looking Statements
Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). These forward-looking statements represent the Company’s current expectations or beliefs concerning future events and can generally be identified using statements that include words such as “estimate,” “expects,” “project,” “believe,” “anticipate,” “intend,” “plan,” “foresee,” “forecast,” “likely,” “will,” “target” or similar words or phrases. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control and which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic on the Company; the need for additional financing, the terms of such financing and the availability of such financing; the ability of the Company to manage growth; the Company’s ability to complete acquisitions and the available funding for such acquisitions; disruptions caused by acquisitions; dilution caused by fundraising and/or acquisitions; the Company’s expectations for future growth, revenues and profitability; the Company’s expectations regarding future plans and timing thereof; the Company’s reliance on its management; the fact that the Company’s chief executive officer has voting control over the Company; related party relationships; the potential effect of economic downturns and market conditions on the Company’s operations and prospects; the Company’s ability to protect proprietary information; the ability of the Company to compete in its market; the Company’s lack of effective internal controls; dilution caused by efforts to obtain additional financing; the effect of future regulation, the Company’s ability to comply with regulations, and potential penalties in the event it fails to comply with such regulations and changes in the enforcement and interpretation of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our business; the risks associated with gaming fraud, user cheating and cyberattacks; risks associated with systems failures and failures of technology and infrastructure on which the Company’s programs rely; foreign exchange and currency risks; the outcome of contingencies, including legal proceedings in the normal course of business; the ability to compete against existing and new competitors; the ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, including, but not limited to, the Company’s Transition Report on Form 10-K for the nine-month transition period ended Oct. 31, 2021. These reports are filed with the SEC and available at www.sec.gov. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
Connect with us:
Twitter – https://twitter.com/GMGI_Official
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Golden Matrix Group
Contact: Scott Yan
Corporate Communications
IBN (InvestorBrandNetwork)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
[email protected]
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Nasdaq:GMGI
Golden Matrix Reports 2nd Quarter Financial Results with Revenues of $8,482,743 and 15th Consecutive Quarter of Profitability
LAS VEGAS, June 03, 2022 (GLOBE NEWSWIRE) — via InvestorWire – Golden Matrix Group Inc. (NASDAQ:GMGI), a developer and licensor of online gaming platforms, systems and gaming content, today reports financial results for its second fiscal quarter ended April 30, 2022.
- Q2 revenues of $8,482,743**, an increase of 221% on revenues of $2,639,511 in the comparable year-ago quarter.
- Q2 net income attributable to GMGI of $586,984 versus $127,986 in the comparable year-ago quarter.
- Revenues of $17,359,848** in the first six months of this fiscal year, an increase of 278% on revenues of $4,590,917 in the comparable year-ago period.
- Net income attributable to GMGI of $936,363 in the first six months versus $180,144 in the comparable year-ago period.
- Cash and cash equivalents of $15,811,213** and total assets of $33,501,019** as of April 30, 2022.
- Total liabilities of $4,617,526** – $4,496,214** current; $121,312** non-current as of April 30, 2022.
- Shareholders’ equity of GMGI increased to $25,999,736, up from $18,928,109 on Oct. 31, 2021.
** The revenues, cash-on-hand, total assets, and total liabilities (including both current and non-current) referenced in this press release include the 20% held in RKingsCompetitions Ltd by minority interests. More detailed information on minority interest factors can be found in our most recent Quarterly Report on Form 10-Q.
The company also noted it has recorded 15 consecutive quarters of profitability.
The significant increase in revenues of this fiscal quarter over revenues recorded in the comparable year-ago quarter resulted primarily from a 28% increase in GMGI’s traditional B2B segment, in addition to strong revenue contributions from UK-based RKings, which was responsible for 60% of total revenues in the quarter. There were no contributions from UK-based RKings in the prior year comparable periods, as GMGI had acquired an 80% controlling ownership interest in RKings at the beginning of the current fiscal year.
During the three months ended April 30, 2022, and 2021, general and administrative (G&A) expenses were $1,380,706 and $327,723, respectively. The increase was due primarily to $884,027 in G&A expenses from the RKings B2C segment, which included payroll costs and bank charges for transaction fees. The G&A expenses from GMGI’s traditional B2B segment also increased due to higher costs in marketing fees, lease expenses and payroll.
“We are pleased with the financial results of our second quarter as a company with both B2B and B2C verticals,” said Golden Matrix CEO Brian Goodman. “During the quarter we implemented upgraded technology and stronger accounting controls to improve cash flow and profitability at RKings. With the Tournament Platform’s added features and functionality, we expect steady increases in both the monthly number of skill tournaments and participants; and, because this robust platform gives RKings’ tournament players immediate access to a growing number of exciting prize competitions, we expect this third quarter and future quarters to generate increasing revenues and profits.
“The acquisition of RKings has given us entry into a well-established B2C vertical in a new market outside of the Asia Pacific (APAC) region. With its highly popular prize offerings coupled with nominal player acquisition costs, the RKings’ Tournament Platform is highly scalable; and we plan to introduce it into additional regulated markets worldwide, beginning with Mexico in the current quarter.”
Brian Goodman concluded, “We enter the remainder of this fiscal year with two robust operating divisions and a strong balance sheet. As stated previously, we continue to evaluate new opportunities in both the B2B and B2C spaces that will further accelerate GMGI’s overall revenue growth and – in accordance with our acquisition strategy – are always accretive to earnings.”
For additional information on Golden Matrix’s financial performance, please refer to the company’s Form 10-Q for the second quarter ended April 30, 2022, available at https://www.nasdaq.com/market-activity/stocks/gmgi/sec-filings or www.sec.gov.
A summary of the Company’s performance and highlights can be found at www.goldenmatrix.com/highlights.
About Golden Matrix
Golden Matrix Group, based in Las Vegas, Nevada, is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label B2B gaming platforms for its international customers, located primarily in the Asia Pacific region. The gaming IP includes tools for marketing, acquisition, retention, and monetization of users. The company’s platform can be accessed through both desktop and mobile applications. As a result of its 80% controlling ownership interest in UK-based RKings Competitions Ltd., Golden Matrix also generates revenues from RKings’ scalable B2C tournament platform.
Our sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current U.S. law.
About RKings
Based in Northern Ireland, RKingsCompetitions Ltd. is a prize competition business offering customers in Ireland and the United Kingdom paid for entry, and free entry, routes to enter prize competitions in order to win a range of consumer products as prizes. Customers can access competitions via iOS or Android apps as well as online where they can win prizes ranging from super cars through to luxury holidays.
The competitions are currently open only to residents of Ireland and the United Kingdom.
Forward-Looking Statements
Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). These forward-looking statements represent the Company’s current expectations or beliefs concerning future events and can generally be identified using statements that include words such as “estimate,” “expects,” “project,” “believe,” “anticipate,” “intend,” “plan,” “foresee,” “forecast,” “likely,” “will,” “target” or similar words or phrases. These forward-looking statements are subject to risks, uncertainties and other factors, many of which are outside of the Company’s control which could cause actual results to differ materially from the results expressed or implied in the forward-looking statements, including, but not limited to, the impact of the COVID-19 pandemic on the Company; the need for additional financing, the terms of such financing and the availability of such financing; the ability of the Company to manage growth; the Company’s ability to complete acquisitions and the available funding for such acquisitions; disruptions caused by acquisitions; dilution caused by fund raising and/or acquisitions; the Company’s expectations for future growth, revenues, and profitability; the Company’s expectations regarding future plans and timing thereof; the Company’s reliance on its management; the fact that the Company’s chief executive officer has voting control over the Company; related party relationships; the potential effect of economic downturns and market conditions on the Company’s operations and prospects; the Company’s ability to protect proprietary information; the ability of the Company to compete in its market; the Company’s lack of effective internal controls; dilution caused by efforts to obtain additional financing; the effect of future regulation, the Company’s ability to comply with regulations and potential penalties in the event it fails to comply with such regulations and changes in the enforcement and interpretation of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our business; the risks associated with gaming fraud, user cheating and cyber-attacks; risks associated with systems failures and failures of technology and infrastructure on which the Company’s programs rely; foreign exchange and currency risks; the outcome of contingencies, including legal proceedings in the normal course of business; the ability to compete against existing and new competitors; the ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved. Consequently, you should not consider any such list to be a complete set of all potential risks and uncertainties. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, including, but not limited to, the Company’s Transition Report on Form 10-K for the nine month transition period ended Oct. 31, 2021. These reports are filed with the SEC and available at www.sec.gov. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on the Company’s future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.
| Golden Matrix Group, Inc and Subsidiaries | ||||||
| Consolidated Balance Sheets | ||||||
| As of | As of | |||||
| April 30, | October 31, | |||||
| 2022 | 2021 | |||||
| (Unaudited) | (Audited) | |||||
| ASSETS | ||||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 15,811,213 | $ | 16,797,656 | ||
| Accounts receivable, net | 2,230,013 | 1,762,725 | ||||
| Accounts receivable – related parties | 643,180 | 1,306,896 | ||||
| Prepaid expenses | 269,128 | 114,426 | ||||
| Short-term deposit | 58,539 | 61,799 | ||||
| Inventory, prizes | 918,703 | – | ||||
| Total current assets | $ | 19,930,776 | $ | 20,043,502 | ||
| Non-current assets: | ||||||
| Property, plant and equipment | 49,400 | – | ||||
| Intangible assets | 2,584,709 | 135,263 | ||||
| Operating lease right-of-use assets | 217,310 | 280,183 | ||||
| Goodwill | 10,718,824 | – | ||||
| Total non-current assets | 13,570,243 | 415,446 | ||||
| Total assets | $ | 33,501,019 | $ | 20,458,948 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||
| Current liabilities: | ||||||
| Accounts payable and accrued liabilities | 2,018,139 | 1,074,786 | ||||
| Accounts payable-related party | 85,819 | 105,062 | ||||
| Accrued income tax liability | 716,560 | – | ||||
| Deferred revenues | 197,213 | – | ||||
| Deferred tax liability | 4,808 | – | ||||
| Accrued interest | 123 | 123 | ||||
| Customer deposit | 116,051 | 68,635 | ||||
| Contingent liability | 1,257,229 | – | ||||
| Current portion of operating lease liabilities | 100,272 | 100,209 | ||||
| Total current liabilities | 4,496,214 | 1,348,815 | ||||
| Non-current liabilities: | ||||||
| Non-current portion of operating lease liability | 121,312 | 182,024 | ||||
| Total non-current liabilities | 121,312 | 182,024 | ||||
| Total liabilities | $ | 4,617,526 | $ | 1,530,839 | ||
| Shareholders’ equity: | ||||||
| Preferred stock, $0.00001 par value; 20,000,000 shares authorized | – | – | ||||
| Preferred stock, Series B: $0.00001 par value, 1,000 shares designated, 1,000 and 1,000 shares issued and outstanding, respectively | – | – | ||||
| Common stock: $0.00001 par value; 250,000,000 and 40,000,000 shares authorized; 28,115,909 and 27,231,401 shares issued and outstanding respectively | $ | 281 | $ | 272 | ||
| Additional paid-in capital | 49,542,802 | 43,354,366 | ||||
| Accumulated other comprehensive loss | (54,901 | ) | (1,720 | ) | ||
| Accumulated deficit | (23,488,446 | ) | (24,424,809 | ) | ||
| Total shareholders’ equity of GMGI | 25,999,736 | 18,928,109 | ||||
| Noncontrolling interests | 2,883,757 | – | ||||
| Total equity | 28,883,493 | 18,928,109 | ||||
| Total liabilities and shareholders’ equity | $ | 33,501,019 | $ | 20,458,948 | ||
| Golden Matrix Group, Inc and Subsidiary | |||||||||||||
| Consolidated Statements of Operations and Comprehensive Income | |||||||||||||
| (Unaudited) | |||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||
| April 30, | April 30, | ||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||
| Revenues | $ | 8,273,169 | $ | 1,969,523 | $ | 16,915,028 | $ | 3,305,754 | |||||
| Revenues-related party | 209,574 | 669,988 | 444,820 | 1,285,163 | |||||||||
| Total revenues | 8,482,743 | 2,639,511 | 17,359,848 | 4,590,917 | |||||||||
| Cost of goods sold | (5,942,181 | ) | (1,493,145 | ) | (12,795,183 | ) | (2,447,927 | ) | |||||
| Gross profit | 2,540,562 | 1,146,366 | 4,564,665 | 2,142,990 | |||||||||
| Costs and expenses: | |||||||||||||
| G&A expense | 1,380,706 | 327,723 | 2,679,592 | 479,351 | |||||||||
| G&A expense- related party | 183,600 | 562,344 | 339,200 | 1,299,942 | |||||||||
| Professional fees | 216,522 | 93,607 | 361,969 | 142,362 | |||||||||
| Research and development expense | 1,200 | 21,218 | 21,412 | 50,105 | |||||||||
| Total operating expenses | 1,782,028 | 1,004,892 | 3,402,173 | 1,971,760 | |||||||||
| Income from operations | 758,534 | 141,474 | 1,162,492 | 171,230 | |||||||||
| Other income (expense): | |||||||||||||
| Interest expense | – | – | – | (955 | ) | ||||||||
| Interest earned | 542 | 40 | 983 | 81 | |||||||||
| Foreign exchange gain (loss) | 114,153 | (13,528 | ) | 198,829 | 9,788 | ||||||||
| Total other income (expense) | 114,695 | (13,488 | ) | 199,812 | 8,914 | ||||||||
| Net income before tax | 873,229 | 127,986 | 1,362,304 | 180,144 | |||||||||
| Provision for income taxes | 171,780 | – | 247,184 | – | |||||||||
| Net income | 701,449 | 127,986 | 1,115,120 | 180,144 | |||||||||
| Less: Net income attributable to noncontrolling interest | 114,465 | – | 178,757 | – | |||||||||
| Net income attributable to GMGI | $ | 586,984 | $ | 127,986 | $ | 936,363 | $ | 180,144 | |||||
| Weighted average ordinary shares outstanding: | |||||||||||||
| Basic | 28,089,041 | 22,939,379 | 27,915,672 | 22,214,964 | |||||||||
| Diluted | 35,908,819 | 34,938,942 | 35,735,450 | 34,046,878 | |||||||||
| Net income per ordinary share attributable to GMGI: | |||||||||||||
| Basic | $ | 0.02 | $ | 0.01 | $ | 0.03 | $ | 0.01 | |||||
| Diluted | $ | 0.02 | $ | 0.00 | $ | 0.03 | $ | 0.01 | |||||
| Statement of Comprehensive Income: | |||||||||||||
| Net income | $ | 701,449 | $ | 127,986 | $ | 1,115,120 | $ | 180,144 | |||||
| Foreign currency translation adjustments | (110,235 | ) | 1,073 | (53,181 | ) | 778 | |||||||
| Comprehensive income | 591,214 | 129,059 | 1,061,939 | 180,922 | |||||||||
| Less: Net income attributable to noncontrolling interest | 114,465 | – | 178,757 | – | |||||||||
| Comprehensive income attributable to GMGI | $ | 476,749 | $ | 129,059 | $ | 883,182 | $ | 180,922 | |||||
Connect with us:
Twitter – https://twitter.com/GMGI_Official
Instagram – https://www.instagram.com/goldenmatrixgroup/
Golden Matrix Group
Contact: Scott Yan
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
[email protected]
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NEW YORK, May 12, 2022 (GLOBE NEWSWIRE) — NetworkNewsAudio – Golden Matrix Group Inc. (NASDAQ: GMGI) announces the availability of a broadcast titled, “Online Gaming — A Sure Bet.”
To hear the AudioPressRelease, please visit: The NetworkNewsAudio News Podcast
To view the full editorial, please visit: https://www.nnw.fm/d41xY
Brick-and-mortar casinos amp up excitement with bars, restaurants and live music, and if playing online, excitement accelerates with a shower of loyalty points. Winning might not be guaranteed, but the entertainment and excitement entice clients to come back. Now the excitement has reached a fever pitch. According to IMARC Group, the global online gambling market reached $72.3 billion in 2021 with projections to reach $131.4 billion by 2027, with a CAGR of 9.96% during 2022–2027. . . .
The online gambling boom has become a bonanza for Las Vegas-based Golden Matrix Group Inc. (NASDAQ: GMGI). The company is capitalizing on every aspect of the surging demand in online gaming and delivering exactly the products and services the sector wants — and needs. . . . GMGI’s cutting-edge gaming IP includes all the sought-after tools operators need for customer acquisition, retention, marketing, and monetization of users. This is the stuff operators covet to reduce acquisition costs and increase customer value. Little wonder that quarter over quarter, GMGI has consistently posted record revenues and earnings, showing an impressive 14 consecutive quarters of increased profitability.
About Golden Matrix Group Inc.
Golden Matrix Group, based in Las Vegas, Nevada, is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label B2B gaming platforms for its international customers, located primarily in the Asia-Pacific region. The company’s gaming IP includes tools for marketing, acquisition, retention and monetization of users. GMGI’s platform can be accessed through both desktop and mobile applications. As a result of its 80% controlling ownership interest in UK-based RKings Competitions Ltd., Golden Matrix also generates revenues from RKings’ scalable B2C tournament platform.
For more information about the company, visit www.GoldenMatrix.com
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
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NEW YORK, May 10, 2022 (GLOBE NEWSWIRE) — via InvestorWire — Golden Matrix Group Inc. (NASDAQ: GMGI) today announces its placement in an editorial published by NetworkNewsWire (“NNW”), one of 50+ trusted brands within the InvestorBrandNetwork (“IBN”), a multifaceted financial news and publishing company for private and public entities.
To view the full publication, “Online Gaming — A Sure Bet,” please visit: https://www.nnw.fm/d41xY
With the online gaming market expected to explode to more than $130 billion in the next five years, there may be a smarter way to cash in on the action. Much like the merchants that made millions during the gold boom while prospectors panned for dreams, providing B2B services such as online gaming platforms, systems and gaming content has proved to be a winning business model.
Coming off its 14th consecutive quarter of profitability, Golden Matrix Group Inc. (NASDAQ: GMGI) continues to carve out enviable market share by delivering state-of-the-art configurable and scalable white-label B2B gaming platforms for its customers across the globe. Golden Matrix’s gaming IP includes sophisticated tools for marketing, acquisition, retention and monetization of users — exactly what iGaming operators need. With more than 580 unique casino operations, 30-plus partnerships, 6 million-plus end users and 3,161 original games, Golden Matrix has established itself as one of the world’s leading providers of turnkey and white-label gaming platforms, Esports technology and gaming content, and the company has even bigger plans for market dominion.
About Golden Matrix Group Inc.
Golden Matrix Group, based in Las Vegas, Nevada, is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label B2B gaming platforms for its international customers, located primarily in the Asia-Pacific region. The company’s gaming IP includes tools for marketing, acquisition, retention and monetization of users. GMGI’s platform can be accessed through both desktop and mobile applications. As a result of its 80% controlling ownership interest in UK-based RKings Competitions Ltd., Golden Matrix also generates revenues from RKings’ scalable B2C tournament platform.
For more information about the company, visit www.GoldenMatrix.com
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness.
NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork
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Macau Foresees Gaming Revenue Growth to $30 Billion by 2025
