GMGI - Business Booming for Golden Matrix Group Inc. (NASDAQ: GMGI) as Online Gambling Continues Growth in Popularity
- Data Bridge Market Research forecasts a 13.7% CAGR for the casino online gambling market to reach $144.74 billion in 2028
- Golden Matrix Group is demonstrating growth in both its B2B and B2C businesses, as it prepares to enter the Mexican markets
- GMGI revenue for the first nine months of fiscal 2022 was $26.46 million, up 237% from a year earlier, while the company notched its 16th consecutive profitable quarter
For decades, there was little substantial innovation in the gambling industry and then along came the miracle of the internet and changed everything with the emergence on online gaming. Still, most traditional casino operators were slow to embrace the digital opportunity until the COVID-19 pandemic and subsequent lockdowns limited travel and shuttered their doors. That sparked a renaissance and provided a growth opportunity for companies like Golden Matrix Group (NASDAQ: GMGI), a provider of turnkey and white label gaming platforms, Esports technology and gaming content.
Even with casinos opened again, the trend towards digital gaming is accelerating with no indications it will slow. Data Bridge Market Research this month forecast 13.7% compound annual growth for the casino online gambling market to reach $144.74 billion in 2028. Drivers abound, including increasingly...
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