InvestorNewsBreaks – Golden Matrix Group Inc.’s (NASDAQ: GMGI) Releases Q2 Financial Report, Reports Record Revenue

July 9, 2024 13:05:00

Golden Matrix (NASDAQ: GMGI), an international developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, is reporting on its second-quarter financials. The report shows revenues of more than $39 million for the company, a record high for the company. The report reflects the three-month period ended June 30, 2024. The company indicated that the report reflects consolidated revenues from both GMGI and MeridianBet Group, which it acquired earlier this year. Highlights of the report include the rollout of new technology; the completion of an updated website for RKingsCompetitions Ltd.; and the granting of two new licenses in South Africa and Peru for MeridianBet Group, indicating the company’s global expansion focus. In addition, the report indicated that MeridianBet Group’s operating Sportsbook in Brazil continues to post strong results and its state-of-the-art gaming portfolio, Expanse Studios, continues to generate strong revenues and sign up new casino operators. “Our acquisition of MeridianBet Group is off to a great start, with this strong initial quarter and expectations for continued growth of revenues and profits for the foreseeable future,” said Golden Matrix CEO Brian Goodman in the press release. “Mr. Aleksandar Milovanović, the largest shareholder of the company, recently convert[ed] $4 million of deferred debt into shares of common stock at a conversion price of $3 per share. We believe this clearly shows confidence in the company and its ongoing performance. We plan to continue to work to strengthen our business-to-business and business-to-consumer segments worldwide, and we are currently evaluating acquisition opportunities, which we hope will further boost our strong core business growth and overall financial performance.”

To view the full press release, visit https://ibn.fm/ycP8e

About Golden Matrix Group Inc.

Golden Matrix Group, based in Las Vegas, Nevada, is an established business-to-business (“B2B”) and business-to-consumer (“B2C”) gaming technology company operating globally across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients. Its B2C division, RKings, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The company also owns and operates MEXPLAY, a regulated online casino in Mexico. Founded in 2001, the MeridianBet Group is a well-established online sports betting and gaming group, licensed and currently operating in 15 jurisdictions across Europe, Africa and South America. The MeridianBet Group’s successful business model utilizes proprietary technology and scalable systems, thus allowing it to operate in multiple countries and currencies and with an omnichannel approach to markets, including retail, desktop online and mobile. 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. 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

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