Golden Matrix Reports Continued Revenue Growth Fueled by an Increase in Gaming Operator and Registered User Counts
November Revenues of $258,523 Up 12.6% on Revenues of $229,604 in October
LAS VEGAS, NV, Dec. 17, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Golden Matrix Group Inc. (OTCPK: GMGI) a technology-driven company that designs and develops social gaming platforms, systems and gaming content, today said its operating results continue to improve, with revenues of $258,523 in November up 12.6% on revenues of $229,604 in October. Further, the company said two primary growth drivers associated with rising revenue - gaming operators and registered users – have “increased steadily” throughout the second half of 2018.
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 186 active operators and more than 1.5 million registered users across all gaming operator/GM-X platforms.
“The appeal of our technology and exceptional content naturally attract more gaming operators and their customers,” said Golden Matrix CEO Anthony Goodman. “The GM-X platform provides our operators with multiple functionalities, including customer acquisition/retention and back-end management, and the ability to add more content as needed. We believe Golden Matrix is positioned to maintain its strong revenue growth, with positive cash flow and rising profitability; and we expect this trend to continue for the foreseeable future.”
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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