(MENAFN- Investor Brand Network) Golden Matrix (NASDAQ: GMGI) , a developer, licensor and global operator of online gaming and eCommerce platforms, systems, and gaming content, has released its anticipated revenues for fiscal year 2023. According to the report, which is based on preliminary revenue estimates, the company will see an increase of approximately 22% in its revenues during 2023 fiscal year, which ends Oct. 31, 2023. The company projects revenues of $44 million. In addition, the company noted that preliminary estimates also project record revenues of $11.7 million in the fourth fiscal quarter. Other highlights worth noting in the announcement indicate that the company continues to generate positive cash flow, with preliminary estimates showing cash-on-hand increasing 14% as of the end of fiscal 2023, compared to the end of fiscal 2022, and that Golden Matrix has filed a preliminary proxy statement related to the planned acquisition of the MeridianBet Group with the Securities and Exchange Commission (“SEC”).
“We look forward to the closing of this strategic acquisition,” said Golden Matrix CEO Brian Goodman in the press release.“We believe the combined enterprise will be a highly competitive participant in gaming markets worldwide, offering casino games, sports betting and tournament competitions in multiple jurisdictions. . . . We are extremely pleased with the consistent progress made during this past year. Our core B2B platform for operators throughout the Asia Pacific region remains strong, and we have benefitted from an acceleration of growth, with greater profitability, in the company's B2C segment, UK-based RKings Competitions Ltd. Also, our B2C Mexican casino, MEXPLAY, was launched and operating in the second half of the year and showed quarter-on-quarter improvements in customer deposits and player participation.”
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About Golden Matrix Group Inc.
Golden Matrix Group, based in Las Vegas, Nevada, is an established business-to-business (“B2B”) and business-to-consumer (“B2C”) gaming technology company operating across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients. RKings, GMGI's B2C division, operates a high-volume ecommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The company also owns and operates MEXPLAY, a regulated online casino in Mexico. The company's sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current U.S. law. For more information about the company, visit
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