Developer of online gaming platforms, systems and gaming content Golden Matrix announced in a press release today its preliminary revenues for the fiscal year ending October 31, 2022.
Record Revenues Expected
Golden Matrix revealed that in the twelve months ending October 31, 2022, it has generated record revenues of more than $34 million. The expected revenue result represents an increase of 201% on the company’s previous fiscal year revenues of $11.3 million.
Brian Goodman, chief executive officer of Golden Matrix outlined that the expected record revenues were fueled by a 30% improvement in the company’s traditional business-to-business gaming segment which is currently boasting a portfolio of over 600 online casino brands and a combined user base of more than 6.8 million.
But the biggest contribution to the revenues in the latest fiscal year was the acquisition at the beginning of the fiscal year of the 80% controlling interest in Rkings, a business-to-consumer (B2C) platform tournament operator, an asset that did not contribute to Golden Matrix’s revenues in the fiscal year to October 31, 2021.
Golden Matrix outlined that currently, Rkings is boasting over 261,000 registered users on the platform, while also having a strong followership in social media – about 68,000 on Instagram and more than 376,000 on Facebook. The popular tournament platform awarded over $14.5 million in prizes, including luxury cars, jewelry and other luxury goods, in the twelve months to October 31, 2022.
Golden Matrix stated that its report for the fiscal year ended October 31, 2022, will be included in the company’s annual report and filed to the Securities and Exchange Commission (SEC) before January 15, 2023.
Nasdaq Listing, Strengthening in Asia-Pacific
The fiscal year ended October 31, 2022, saw another key development for the growth strategy of the leading provider of turnkey and white label gaming platforms, esports technology and gaming content, which went public and listed its common stock on the Nasdaq in a move that was hailed as a stepping stone on the company’s path to global expansion.
A month later, Golden Matrix launched GMX-Ag, a new B2B aggregate gaming system offering casino, sportsbook and live gaming content, and providing operators with seamless integration into their websites.
Golden Matrix partnered with eight iGaming operators to see its new aggregate system enter six regulated iGaming markets in a strategic and timely move that further strengthened the company’s presence in one of its traditional markets, the Asia-Pacific region.