Golden Matrix Reports Accelerating Revenues in June as Active User Base Expands
Las Vegas, NV - (NewMediaWire) - June 25, 2020 - Golden Matrix Group Inc. (OTC: GMGI), a developer and licenser of social gaming platforms, systems and gaming content, today said that revenues in June are expected to exceed $325,000 and are on track to post a record month.
The company said it had anticipated this improvement in June revenues as a result of the recent upsurge in the number of both new operators and registered users. There are now over 3 million registered users across all gaming platforms operated by GMGI’s 350 plus operators. The current user base is up 100 percent on the 1.5 million registrants reported at the end of calendar 2019.
“Faced with dramatic decreases in revenue during the current pandemic,” said Golden Matrix CEO Brian Goodman, “more and more casino operators recognized the need to develop a stronger online presence. As a result, we have been adding new operators at a very rapid pace; and the number of registered users naturally expands as these new operators complete the integration process and go live with the GM-X platform.”
Mr. Goodman said he expected the current (second fiscal) quarter to finish strongly with increased revenues and profitability. “Additionally, we plan to soon leverage our large and growing user base to enter new vertical markets such as eSports and Sports Gambling.”
About Golden Matrix
Golden Matrix Group, based in Las Vegas NV, is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label social gaming platforms for its international customers, located primarily in the Asia Pacific region. The gaming IP includes tools for marketing, acquisition, retention and monetization of users. The company's platform can be accessed through both desktop and mobile applications.
Our sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current US law.
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
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