GMGI - 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...
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at http://ibn.fm/GMGI
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