A Diamond in the Rough? This Gaming Platform Might (Literally) Change the Game

Picture credit: Golden Matrix Group Inc.

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Slot machines. Sports books. Table Games. Live Games. Keno. Lottery. Poker.

Keeping up with the demand, online gaming operators have tried to add these popular games one-by-one for their customers, making decisions on which of these might be successful in an often tedious and time-consuming manner. The growing popularity of the online gaming space, partly due to the pandemic, has caused these operators to have to pick and choose what may be valuable to their audiences instead of providing them with the entire package.

With Las Vegas-based Golden Matrix Group Inc. GMGI, a developer and licenser of online gaming platforms and distributor of the world’s leading online gaming content, that problem could be a thing of the past. The company says it is the industry’s most extensive gaming platform available with over 4.6 million users, 488 operators, 30 partnerships, and 3,161 games.

In addition, its new aggregate gaming system, GM-Ag, acquired from Gamefish Global Pty. Ltd., will only expand its robust services by showcasing a full portfolio of gaming products within a seamless single integration on its already trusted platform. The system has nearly 10,000 casino games from 25 providers worldwide, aiming to give its users exactly what they want–when they want it. 

The company also provides various solutions — including a turnkey model offering a complete software package — to those operators who want to develop their own online gaming businesses. There is also a white-label solution that offers them the fastest way to start an online gaming platform from scratch. It provides clients with licensing, accounting, management, support and gaming content.

While the company has focused its efforts primarily in the dominant Asia-Pacific area, it is gearing up for expansion globally and busy with acquisitions. 

Expanding Through Acquisitions as Revenue Builds

In early December, for example, the company — which has recorded 12 straight quarters of profitability — agreed to purchase an 80% stake in United Kingdom-based RKings Competitions Ltd., an online competition company that offers prizes such as properties, luxury vehicles and cash to about 25,000 active clients monthly in both the U.K. and Ireland. The acquisition, which allows Golden Matrix to purchase the remaining 20% stake, was for approximately $10.6 million.

“Additionally, this marks our entry into a new regulated market in the B2C space, and what we expect will be the beginning of a meaningful expansion into geographic markets outside of the Asia Pacific region,” said CEO Brian Goodman at the time of the acquisition.

The ability to grow through acquisition has been facilitated by the continued strength of the company's balance sheet and increasing profitability, Goodman added.

Most recently, the company reported revenue of $3.25 million in the quarter ending July 31, an increase of 23% over the previous quarter.

In the first two quarters of fiscal year 2022, Golden Matrix reported higher revenue than in all of fiscal year 2021 which totaled $5.22 million — thus giving the company an annual run rate of $12 million, Goodman said.

Net income for the quarter ended July 31 totaled $481,189, up from $127,872 the previous quarter. 

“These strong results were due to substantial progress in growing our client base and expanding our advanced gaming technology and product offerings,” Goodman said. “As a result, GMGI has strengthened its balance sheet considerably and is in an improved position to carry out potential acquisitions that can further expand the company’s revenue growth, earnings and global footprint.”

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.