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Golden Matrix Group Inc.
(NASDAQ: GMGI)


Golden Matrix Group Inc. (NASDAQ: GMGI), based in Las Vegas, Nevada, is an established gaming technology company that develops and owns online gaming IP and builds turnkey online casino solutions for gaming operators as well as configurable and scalable white-label gaming platforms for international customers, located primarily in the Asia-Pacific region. GMGI’s 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.

GMGI’s sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with U.S. law.

Golden Matrix, through a subsidiary, also runs a pay-to-enter prize competition in the United Kingdom and Ireland.

The company’s shares began trading on the Nasdaq under the symbol ‘GMGI’ on March 17, 2022. Golden Matrix shares were previously traded on the OTCQX Best Market.

For the quarter ended January 31, 2022, the company reported revenue of $8.88 million, an increase of 355% over the same quarter one year earlier. Net income for the three-month period was $349,379, up from $52,158 a year earlier. It was the company’s 14th consecutive profitable quarter.

In December 2021, Golden Matrix announced it had entered into a purchase agreement to acquire a controlling ownership interest in UK-based RKingsCompetitions Ltd., one of Ireland’s and the United Kingdom’s leading independent online competition companies. RKings presents customers with paid and free entry routes to competitions that offer a range of prizes, including residential properties, luxury and exotic motor vehicles, holiday packages, technology packages and cash. The competitions are currently open only to residents of Ireland and the United Kingdom. Golden Matrix acquired an 80% ownership interest in RKings for cash and stock. The company also secured an option to purchase the remaining 20 percent interest of RKings, subject to certain requirements.

In March 2022, Golden Matrix announced it had applied for a Mexican gaming permit and, once approved, expects to offer online gaming in Mexico as well as roll out the RKings tournament business globally.

Technology

Golden Matrix Group develops fully operational online casino turnkey solutions as well as highly modular, configurable and scalable gaming platforms for its international customers in an effort to promote user acquisition, engagement, retention and monetization. The provided white label gaming platform is unparalleled in both mobile and desktop website deployment, proving compatible throughout all major operating systems and web browsers. In addition, the platform enhances the client’s ability to cater to various gaming scenarios including but not limited to transaction management and a range of loyalty and reward programs. Moreover, user engagement is optimized through the ability to accommodate both free and paid games.

The company’s GM-X System (and recently its next generation GM-Ag System) is considered the industry standard, granting access to over 10,000 games from more than 25 game providers. Through the GM-X System, Golden Matrix offers the industry’s most extensive game portfolio. The company’s gaming partners dominate the global online gaming market to deliver innovative games and premium brand titles. The GM-X System offers payment gateways that integrate with third party platforms or digital wallets. It supports all major currencies and offers multiple language options. The system’s data analytics provide the operator with a 360-degree view of the gaming platform’s performance.

GMGI currently supports over 500 unique casino brands and over 6 million players.

Investment Considerations
  • Golden Matrix’s common stock began trading on the Nasdaq on March 17, 2022.
  • The company achieved record revenues of $8.88 million in the quarter ended January 31, 2022, marking a year-over-year increase of 355%.
  • Golden Matrix reported net income for the quarter ended January 31, 2022, of $349,379, versus $52,158 one year earlier.
  • Golden Matrix has delivered exceptional growth over the years, with 14 consecutive profitable and cash flow positive quarters.
  • Golden Matrix has a solid balance sheet and intends to make accretive and synergistic acquisitions in the coming months, with all targeted acquisitions to be profitable and cash positive.
  • Golden Matrix in March 2022 announced it has applied for a gaming permit in Mexico and expects to offer iGaming and launch the RKings tournament platform there.
  • GMGI currently supports over 500 unique casino brands and over 6 million players.
Additional Resources
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RECENT COVERAGE
 

InvestorNewsBreaks - Golden Matrix Group Inc. (NASDAQ: GMGI) Announces Full Acquisition of Interest in RKings Competitions


November 4, 2022 1:00 PM

Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of gaming platforms, systems and gaming content, has acquired the remaining 20% interest in RKings Competitions; the company now owns a total of 165,444 restricted shares of GMGI’s common stock payable to the two former owners of RKings. Company officials announced the transaction, which makes RKings a wholly owned entity of Golden Matrix, one which the company anticipates will grow quickly in several regulated jurisdictions, including Great Britain and Mexico. The company plans to expand the tournament platform into other Latin American markets in the next few years. In addition, Golden Matrix recently launched GMGI Assets, a complementary business designed to enhance the revenue stream and profit being generated by the RKings division. “As an example, and in some instances, the tournament winner of an expensive automobile may choose to take a predetermined cash option in lieu of the car,” said Golden Matrix Group CEO Brian Goodman in the press release. “When this occurs, GMGI Assets will take possession of the car and resell it. Each transaction has a built-in positive margin, and we expect this business to make significant contributions to GMGI’s overall financial results as the number of auto tournament offerings continues to grow in Great Britain, as well as additional jurisdictions in the future.”
View Full Press Release

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