Golden Matrix Reports Record-High Revenues in Q2, Driven by Global Expansion and New Technology

Golden Matrix (NASDAQ: GMGI), a leading international developer and operator of online gaming and eCommerce platforms, has announced its second-quarter financial results, showcasing a remarkable achievement for the company. With revenues exceeding $39 million, this quarter marks a record high for Golden Matrix.

The report, which covers the three-month period ending June 30, 2024, reflects consolidated revenues from both Golden Matrix and its recently acquired subsidiary, MeridianBet Group. The acquisition has proven to be a significant contributor to the company’s success, as it expands its global presence and strengthens its position in the industry.

Notable highlights from the report include the successful rollout of new technology, the completion of an updated website for RKingsCompetitions Ltd., and the granting of two new licenses in South Africa and Peru for MeridianBet Group. These developments demonstrate Golden Matrix’s commitment to global expansion and its ability to adapt to evolving market demands.

Furthermore, the report highlights the strong performance of MeridianBet Group’s operating Sportsbook in Brazil, which continues to deliver impressive results. Additionally, the company’s state-of-the-art gaming portfolio, Expanse Studios, has been generating robust revenues and attracting new casino operators.

Golden Matrix CEO Brian Goodman expressed his satisfaction with the company’s performance, stating, “Our acquisition of MeridianBet Group is off to a great start, with this strong initial quarter and expectations for continued growth of revenues and profits for the foreseeable future.” He also highlighted the recent conversion of deferred debt into shares of common stock by the largest shareholder, Mr. Aleksandar MilovanoviÄ?, as a testament to the company’s ongoing success and potential.

Looking ahead, Golden Matrix aims to strengthen both its business-to-business (B2B) and business-to-consumer (B2C) segments worldwide. The company is actively evaluating acquisition opportunities that will further enhance its core business growth and overall financial performance.

Golden Matrix Group Inc., headquartered in Las Vegas, Nevada, is a well-established gaming technology company operating globally. Its B2B division develops and licenses proprietary gaming platforms, while its B2C division operates a high-volume eCommerce site for paid-for competitions. The company also owns and operates MEXPLAY, a regulated online casino in Mexico.

Founded in 2001, MeridianBet Group is a successful online sports betting and gaming group operating in multiple jurisdictions across Europe, Africa, and South America. The company’s proprietary technology and scalable systems enable it to operate in various countries and currencies, with a focus on retail, desktop online, and mobile channels.

In conclusion, Golden Matrix’s record-breaking revenues in the second quarter reflect its commitment to innovation, global expansion, and strategic acquisitions. With a strong core business and a positive outlook for future growth, the company is well-positioned to capitalize on the thriving online gaming and eCommerce industry.

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