TinyGemsBreaks – Golden Matrix Group Inc. (NASDAQ: GMGI) Announces Preliminary Fiscal 2022 Revenues, Expected 201% YOY Increase
Nov 18, 2022
Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of gaming platforms, systems and gaming content, today announced its preliminary revenues for the fiscal year ending Oct. 31, 2022, reflecting expected record revenues of more than $34 million. According to the update, this represents an estimated 201% improvement on revenues of $11.3 million in the comparable twelve-month period ending Oct. 31, 2021. Golden Matrix acquired its 80% controlling interest in RKingsCompetitions Ltd (“Rkings”), which operates a business-to-consumer (“B2C”) tournament platform, at the beginning of the fiscal year. As a result, there were no contributions by Rkings to GMGI’s overall revenues during the prior twelve-month period. However, Golden Matrix CEO Brian Goodman noted that “the company’s traditional business-to-business (‘B2B’) gaming segment showed a 30% improvement in revenue growth for the twelve months ended Oct. 31, 2022, compared to 2021, and it currently services over 600 online casino brands with more than 6.8 million registered users across all GM-X platforms.”
To view the full press release, visit https://ibn.fm/xLLMW
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 social 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. Its sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current U.S. law.
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI
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