- GMGI acquired 80% stake in RKings social gaming platform that earned $32 million in revenue and $2.6 million in net income during fiscal 2021
- Permit application for Mexico approved others to follow as more governments legalize online gambling
- Online gambling revenues expected to reach $153.6 billion by 2030 at CAGR of 11.7 percent from 2022 to 2030
Golden Matrix Group (NASDAQ: GMGI), an iGaming leader based in Las Vegas, develops, and owns online gaming IP, turnkey online casino solutions, and configurable, scalable white-label gaming platforms for international gaming operators. The company’s extensive portfolio of proprietary technology has made it a leader in B2B solutions, evidenced by record-breaking revenues and non-stop profitable quarters (https://ibn.fm/1HUHO).
Backed by its stellar financial track record, GMGI is moving into the B2C social gaming sector. The company recently purchased an 80% stake in UK-based RKingsCompetitions Ltd. in December 2021, with the rights to acquire the remaining 20%. RKings is a prize competition business based in Ireland and the United Kingdom that offers paid and free entrance routes for customers to win a range of consumer products ranging from automobiles to luxury vacations.
“This significant upgrade to the RKings platform will accelerate the growth of our B2C businesses, offering added functionality and features and also allowing us to expand into new geographic regions and strengthen our global footprint,” said Golden Matrix CEO Brian Goodman (https://ibn.fm/wo1qp). “We believe the GMGI/RKings product offerings will be received enthusiastically by players in all regulated markets where we are licensed. At a time when global economic growth is being challenged, we are fortunate to have a scalable business model that has already demonstrated consistent profitability.”
Online gambling is growing rapidly because of casino closings due to COVID-19 restrictions, new product offerings, and increased legalization throughout the world. Grandview research estimates revenues to reach $153.6 billion by 2030 at a CAGR of 11.7 percent from 2022 to 2030 (https://ibn.fm/fukGd). GMGI’s permit application for Mexico was recently approved, and others are expected to follow as the company continues to roll out its expansion strategy. “This a logical move for the company, as it opens up compelling opportunities in the Latin America (‘LATAM’) B2C market; and it begins the expansion of the RKings tournament platform to our first region outside of the UK and Ireland,” said Goodman (https://ibn.fm/Nsy7V). “We are confident that, in addition to casino games and sports book betting, RKings will be received enthusiastically, generate significant revenues, and boost our overall profitability.”
Golden Matrix leads the iGaming industry with turnkey B2B iGaming and Esports solutions and plans to diversify revenues via entry into the B2C social gaming sector. The company’s gaming IP features tools for marketing, acquisition, retention, and monetization of users, and its platform can be accessed through both desktop and mobile applications.
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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