LAS VEGAS, Aug. 11, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — 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.
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.