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Golden Matrix Group Inc. (NASDAQ: GMGI) Records 14th Profitable Quarter on the Trot

  • Golden Matrix Group is a gaming technology and e-sports company, operating its own gaming IP alongside providing white-label gaming platforms for third-parties
  • Golden Matrix reports Revenues of $8,877,105 & net income of $349,379 in the quarter ending January 2022, their 14th consecutive quarter of profitability
  • The company have based their profitability on minimizing user acquisition costs and maximising lifetime customer value
  • Golden Matrix, via its successful R Kings B2C Tournament platform, has devised a new method to attract customers through the use of online prize draws, drawing in upwards of 90,000 new users per quarter

The onset of the pandemic hastened an already existing shift away from location-based casinos towards online gaming; in fact, a recent study has forecast the online gambling market to reach US$217.3 billion by 2027, representing a CAGR of 11.5 percent between 2020 and 2027 (https://ibn.fm/hEszL). Las Vegas-based Golden Matrix Group (NASDAQ: GMGI), an established gaming technology and e-sports company which owns and operates online gaming IP as well as white-label gaming platforms for third-party customers, has sought to capitalize on the ongoing shift, a change in customer behavior which has been further accelerated by a burgeoning younger and tech-savvy consumer demographic.

The company recently revealed that it had recorded revenues of $8.88 million for the quarter ending January 31, 2022, an increase for 355% over the same period a year ago. Golden Matrix simultaneously reported net income of $349,379 over the course of the three-month period, extending a remarkable stretch which has now seen the gaming company record its 14th consecutive profitable quarter.

A key trait which has characterized Golden Matrix Group’s resolute pursuit of profitability comes down to the company’s innovative approach towards customer acquisition costs (“CAC”) and lifetime value (“CLV”) – a strategy which has filtered through into their recent acquisitions (https://ibn.fm/H46E1). In December 2021, Golden Matrix entered into a purchase agreement to acquire an 80 percent controlling interest in UK-based R Kings Competitions Ltd., a leading independent online competition company (https://ibn.fm/hVxti).

Through their combination with R Kings Competitions, Golden Matrix have pioneered a system by which new users can gain access to a prize draw after responding correctly to a question – a competition which Golden Matrix CEO, Brian Goodman, has credited with attracting upwards of ninety thousand new players a quarter at relatively low cost. Going forward, the company anticipates rolling out their tournament methodology into new geographies and languages – recently revealing that they had applied for a Mexican gaming permit which would allow them to attract new users and offer online gaming within the country.

Having already gained considerable market share within the B2B market through the roll-out of their GM-X system, a gaming system designed to enable online providers to gain access to a broad array of over 10,000 games from over 25 developers, Golden Matrix Group are now seeking to grow their presence within the B2C. CEO, Brian Goodman recently divulged that the company were pursuing a series of acquisitions within the B2C gaming space, a measure designed to assist Golden Matrix to better monetize their burgeoning customer base.

For more information, visit the company’s website at 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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