Golden Matrix Triples Revenue to $3 Million in Fiscal Q2; Projects Continuing Growth From New Gaming System
August 12 2021 - 8:16AM
InvestorsHub NewsWire
LAS VEGAS, NV -- August 12, 2021 -- InvestorsHub NewsWire --
Golden Matrix Group, Inc. (OTC:
GMGI), a developer and licenser of online gaming platforms,
systems and gaming content, today announced it had recorded over $3
million in revenue during its second fiscal quarter ended July 31,
2021. This represents a tripling -- or approximate 200% increase --
on the $1.05 million in total revenues generated in the comparable
year-ago quarter.
Additionally, Golden Matrix said it has begun the rollout of its
state-of-the-art aggregate gaming system with its first gaming
operator in the Asia-Pacific (APAC) region, and with 14 more
operators scheduled to be integrated shortly.
The aggregate system, labelled GMX-Ag, will offer a diverse
portfolio of gaming products on one single platform that can be
integrated seamlessly with gaming operators’ existing business
systems, and at the same time provide the operators with
value-added features such as content aggregation and player
acquisition and retention tools.
The GMX-Ag platform will feature a full suite of iGaming
products comprising casino, sportsbook, lottery, and live gaming,
and will include a portfolio of more than 10,000 casino games from
world-renowned gaming providers. The GMX-Ag platform is also
expected to enable GMGI to roll out its White Label Turnkey
solutions to gaming operators globally as the company targets
specific developing markets in Asia, Europe, North America, Latin
America and Africa. The Sportsbook component will be powered by
Amelco UK Limited, a leading sports betting software and trading
services provider that entered into a software license and services
agreement with GMGI in October 2020.
“We are excited to introduce the GMX-Ag platform on the heels of
an exceptionally strong quarter with record revenue,” said GMGI CEO
Brian Goodman. “The Ag platform will act as a springboard to not
only expand GMGI’s extensive gaming portfolio, but also give the
company access to operators in fast-growing regulated markets
globally.”
Mr. Goodman added that he expected the deployment of the GMX-Ag
platform to have “a significant positive impact on revenue
growth.”
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.
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Golden Matrix Group
info@goldenmatrix.com
www.goldenmatrix.com