Golden Matrix on Track to Record Seventh Straight Quarter of Rising Revenues
12 October 2019 - 12:35AM
InvestorsHub NewsWire
Golden Matrix on Track to Record Seventh Straight Quarter of Rising
Revenues
First fiscal quarter 2020
revenues expected to exceed
$800,000
LAS VEGAS, NV -- Ocotber 11, 2019 -- InvestorsHub
NewsWire -- Golden Matrix Group Inc. (OTCPK: GMGI), a
technology-driven company that designs and develops social gaming
platforms, systems and gaming content, today said that for the
first fiscal quarter ending October 31, 2019, it expects to report
revenues exceeding $800,000. Revenues to date are up 7% when
compared with the same period of time during last quarter, Q4 ended
July 31, 2019.
This would represent the company’s seventh straight
quarter of rising revenues and more than a 25% increase on revenues
of $638,695 recorded in the first fiscal quarter ended October 31,
2018.
“As with previous quarters in fiscal 2019,” said
Golden Matrix CEO Anthony Goodman, “our continued strong revenue
growth in Q1 2020 is expected to produce solid profitability and
excellent cash flow. With the company’s healthy cash position,
complemented by our popular GM-X platform and strong ongoing
relationships with some of the gaming industry’s key players,
Golden Matrix is now in an excellent position to consider
opportunities for corporate expansion. As a result, we are pursuing
several timely options and will keep our shareholders advised of
developments as they
occur.”
Golden Matrix revenues are derived primarily from
licensing fees received from gaming operators located in the Asia
Pacific (APAC) region and integrated with the company’s
state-of-the-art GM-X platform. Currently there are over 300 active
operators and more than 1.5 million registered users across all
gaming operator/GM-X
platforms.
Mr. Goodman added, “The excitement among active
users for our recently introduced proprietary games has exceeded
our expectations and will provide a significant boost to overall
revenues and profits in fiscal 2020. We are confident that their
growing popularity will lead to their rapid adoption by many
additional operators in the robust APAC gaming
markets.”
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.
Forward-Looking
Statements
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.
Connect with
us:
Twitter - https://twitter.com/GMGI_Group
Instagram - https://www.instagram.com/goldenmatrixgroup/
Golden Matrix
Group
Tel: (702)
318-7548
Scott
Yan
info@goldenmatrix.com
www.goldenmatrix.com