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InvestorNewsBreaks – Golden Matrix Group Inc. (NASDAQ: GMGI) Releases FY 2023 Financial Report Showing Record Revenues of $44.2 Million
January 17, 2024

InvestorNewsBreaks – Golden Matrix Group Inc. (NASDAQ: GMGI) Releases FY 2023 Financial Report Showing Record Revenues of $44.2 Million

Golden Matrix (NASDAQ: GMGI), a developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, has released its financial results for the fiscal year ended Oct. 31, 2023. Highlights of the report include record full-year revenues totaling $44.2 million, a 23% increase over on revenues of $36 million in the comparable 12-month period ended Oct. 31, 2022; net loss of $1.17 million with Adjusted EBITDA of $2.4 million in fiscal 2023; cash and cash equivalents of $17.1 million with total assets of $35.6 million; and current liabilities totaling $4.48 million with no long-term liabilities. The company also reported that GMGI shareholders’ equity increased to $31.1 million. The report noted current gaming operators reached 785 with registered users totaling 8.2 million in its business-to-business (“B2B”) traditional business.

In its business-to-consumer (“B2C”) divisions, which include RKings and Mexplay, totals show more than 325,000 registered users for RKings and an estimated 61,000 registered users for Mexplay. In addition, the report noted that the company anticipates its acquisition of the MeridianBet Group to close in the next several weeks. “Year after year, we continue to achieve significant improvements in revenue,” said Golden Matrix CEO Brian Goodman in the press release. “This solid momentum has delivered four consecutive years of revenue growth and shareholders’ equity increases. GMGI’s success in the past financial year was driven by our diversified portfolio, spanning B2B and B2C, in some of the fast-growing online gaming markets around the world. Additionally, we further strengthened our Mexplay B2C online casino operation in Mexico. We believe that the results delivered over the last financial year demonstrate the ongoing resilience, competitiveness and diversification of our portfolio, IP and the sound fundamentals in the markets in which we operate.”

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

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 across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients. RKings, GMGI’s B2C division, 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. 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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