Golden Matrix Group Inc - GMGI stock
OTC Symbol: GMGI
Golden Matrix Group, Inc. (NASDAQ: GMGI) supplies online casino and sports betting operators with enterprise software-as-a-service solutions. The firm creates and maintains online gaming copyrights, as well as gaming platforms for consumers primarily in Asia Pacific and Europe. Its platform helps gaming customers run online casinos, sportsbook, lotteries games, and live games, as well as giving them access to a library of authorized gaming information produced by gaming content suppliers. The company also offers solutions for authorized online gaming distributors and resells third-party game content. Its platform can be accessible via desktop and mobile apps.[1]
The company was previously known as Sourcing Gold Corp., but in April 2016, it renamed to Golden Matrix Group, Inc. Golden Matrix Group, Inc. is situated in Las Vegas, Nevada, and was founded in 2008. Clients from all over the world are served by the Golden Matrix Group. The white label interactive entertainment platform provided is unrivaled in terms of desktop and mobile devices website deployment, and is available on all major operating technology and web platforms.[1]
In the UK and republic of Ireland, the company also sponsors a pay-to-enter reward tournament. Golden Matrix's platform also improves its clients' potential to accommodate to a variety of gaming scenarios, such as concurrency control as well as a variety of loyalty/reward programs. Furthermore, our capacity to accept simultaneously basic or paid users improves user engagement.[2]
This is a profitable and expanding swiftly in a lucrative and in-demand industry. This is an unusual occurrence in their industry, since the majority are operating at a loss fist over hand and cash expansion is behind.[2]
Golden Matrix is focusing on strategy prospects to enhance the breadth of its activities and company value in order to raise its part of the quickly evolving online gaming sector. These endeavors are supported by expanding and strengthening current relationships with key gaming content producers, as well as introducing new, unique titles to the marketplace. The expansion initiatives are timely not only due of the transitory Covid-19 climate, but also because hotels are recognizing that now in order to remain competitive, they must have a significant online presence.[3]
Something else for investors to be excited about will provide some horizontal growth for Golden Matrix. Management is in discussions to merge with a large, government-licensed lottery operator in the APAC region. This will significantly bolster the top and bottom line, while serving as a catalyst to facilitate an up-listing of GMGI stock to a national or international exchange.
Revenue climbed to $876,754 in the latest quarter (Q2 financial 2020, ending January 31, 2020), up 23% over $713,542 the previous quarter. In the most recent quarter, net earnings increased to $438,802, up against $421,791 in the previous quarter. Golden Matrix now has $1.9 million in cash on hand, up from $1.1 billion a year earlier. At the pink sheet world, profitability in a firm with a market cap of $12 million is undoubtedly an outlier.[3]
- ↑ 1.0 1.1 moomoo. GMGI Golden Matrix Group. Accessed on 4/10/2023.
- ↑ 2.0 2.1 AllPennyStocks. GOLDEN MATRIX GROUP INC. Accessed on 4/10/2023.
- ↑ 3.0 3.1 Goldenmatrix.com. Company. Accessed on 4/10/2023.
