GMGI - InvestorNewsBreaks - Golden Matrix Group Inc. (NASDAQ: GMGI) Announces Full Acquisition of Interest in RKings Competitions
Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of gaming platforms, systems and gaming content, has acquired the remaining 20% interest in RKings Competitions; the company now owns a total of 165,444 restricted shares of GMGI’s common stock payable to the two former owners of RKings. Company officials announced the transaction, which makes RKings a wholly owned entity of Golden Matrix, one which the company anticipates will grow quickly in several regulated jurisdictions, including Great Britain and Mexico. The company plans to expand the tournament platform into other Latin American markets in the next few years. In addition, Golden Matrix recently launched GMGI Assets, a complementary business designed to enhance the revenue stream and profit being generated by the RKings division. “As an example, and in some instances, the tournament winner of an expensive automobile may choose to take a predetermined cash option in lieu of the car,” said Golden Matrix Group CEO Brian Goodman in the press release. “When this occurs, GMGI Assets will take possession of the car and resell it. Each transaction has a built-in positive margin, and we expect this business to make significant contributions to GMGI’s overall financial results as the number of auto tournament offerings continues to grow in Great Britain, as well as additional jurisdictions in the future.”
To view the full press release, visit https://ibn.fm/tp5Vi
About Golden Matrix Group Inc.
Golden Matrix Group, based in Las Vegas, Nevada, is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label B2B gaming platforms for its international customers, located primarily in the Asia-Pacific region. The company’s gaming IP includes tools for marketing, acquisition, retention and monetization of users. GMGI’s platform can be accessed through both desktop and mobile applications. Golden Matrix also generates revenues from RKings’ scalable B2C tournament platform and has recently launched a licensed proprietary B2C online casino in Mexico. For more information about the company, visit 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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