Golden Matrix Achieves 1st Million Dollar QT and 8th Consecutive QT of Profitability; Registered User Base Exceeds 3.3 Mill...
August 11 2020 - 09:41AM
InvestorsHub NewsWire
Golden Matrix Achieves First Million
Dollar Quarter and Eighth Consecutive Quarter of Profitability;
Registered User Base Now Exceeds 3.3 Million Players
LAS VEGAS, NV -- August 11, 2020 -- InvestorsHub NewsWire --
Golden Matrix Group Inc. (OTC:
GMGI), a developer and licenser of online gaming platforms,
systems and gaming content, today said it achieved revenues of
$1,045,000 in the second fiscal (July 31) quarter, the company’s
first million dollar quarter and its eighth consecutive quarter of
profitability.
The company also said its player base increased to 3.3 million
registered users during the quarter, and that 20 new operators are
currently being added to its existing 369 operator client base.
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.
“We are thrilled to have reached this milestone of our first
million-dollar quarter,” said Golden Matrix CEO Brian Goodman, “but
it represents more than just exceeding an important revenue goal.
We believe it indicates and reinforces an upward trend in quarterly
revenues supported by our growing number of active users who can
enjoy mobile gaming in a secure online environment. Going forward,
we expect the company’s market share in the APAC region to continue
to grow; and the company is now positioned to expand operations
globally and enter new gaming-related markets, which will
significantly increase revenues and profitability later in 2020 and
beyond.”
Golden Matrix said it plans to release second fiscal quarter
financial results on or before the end of this month.
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
Contact: Scott Yan
info@goldenmatrix.com
www.goldenmatrix.com