Golden Matrix on Track to Record Sixth Straight Quarter of Rising Revenues
July 17 2019 - 9:39AM
InvestorsHub NewsWire
Golden Matrix on Track to Record Sixth Straight Quarter of Rising
Revenues
Fourth quarter revenues
expected to exceed $780,000.00, a 6% improvement on third quarter
revenues of $737,169
LAS VEGAS, NV -- July 17, 2019 -- InvestorsHub NewsWire --
Golden Matrix Group Inc. (OTCPK: GMGI) a technology-driven company
that designs and develops social gaming platforms, systems and
gaming content, today said that for the fourth fiscal quarter ended
July 31, 2019, it expects to report revenues exceeding $780,000, a
6% improvement on revenues of $737,169 generated in its third
quarter ended April 30, 2019.
Fourth quarter 2019 revenues are also expected to be a 54%
improvement on Q4 ’18 revenues of $510,656, and would make it the
company’s sixth consecutive quarter of rising revenues.
“As with previous quarters in fiscal 2019,” said Golden Matrix
CEO Anthony Goodman, “our strong Q4 revenue growth has produced
solid profitability and excellent cash flow. Now, with a healthy
cash position, complemented by our popular GM-X platform and strong
ongoing relationships with some of the gaming industry’s key
players, Golden Matrix is in an excellent position to consider a
program of corporate expansion. As previously stated, we are
pleased with several opportunities already under consideration, and
we will keep our shareholders advised of developments as they
occur.”
Golden Matrix revenues are 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. Currently there are over 300 active operators and more
than 1.5 million registered users across all gaming operator/GM-X
platforms.
Mr. Goodman added, “The excitement among active users for our
recently introduced proprietary games has exceeded our expectations
and will provide a significant boost to overall revenues and
profits. We are confident that their growing popularity will lead
to their rapid adoption by many additional operators in the robust
APAC gaming markets.”
About Golden Matrix
Golden Matrix Group, based in Las Vegas NV, 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.
Our sophisticated software automatically declines any gaming or
redemption requests from within the United States, in strict
compliance with current US law.
Forward-Looking Statements
This press release may contain "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, such as statements relating to financial results and plans
for future development activities and are thus prospective.
Forward-looking statements include all statements that are not
statements of historical fact regarding intent, belief or current
expectations of the Company, its directors or its officers.
Investors are cautioned that any such forward-looking statements
are not guarantees of future performance and involve risks and
uncertainties, many of which are beyond the Company's ability to
control. Actual results may differ materially from those projected
in the forward-looking statements. Among the factors that could
cause actual results to differ materially from those indicated in
the forward-looking statements are risks and uncertainties
associated with the Company's business and finances in general,
including the ability to continue and manage its growth,
competition, global economic conditions and other factors discussed
in detail in the Company's periodic filings with the Security and
Exchange Commission. The Company undertakes no obligation to update
any forward-looking statements.
Connect with us:
Twitter - https://twitter.com/GMGI_Group
Instagram - https://www.instagram.com/goldenmatrixgroup/
Golden Matrix Group
Tel: (702) 318-7548
Scott Yan
info@goldenmatrix.com
www.goldenmatrix.com