11 Mar Golden Matrix Group’s Strategic Acquisitions Place It Ahead of the Game!
Golden Matrix Group, Inc. (OTCPINK: GMGI), formerly known as Source Gold Corp, announced the acquisition of a leading-edge gaming system from Gamefish Global Pty. Ltd., an Australian game development Company specializing in casino games. The acquisition will add value to its diverse portfolio of gaming products and help advance its global market penetration.
GMX-Ag, the Company’s aggregate system, will encompass a complete suite of igaming products including casino, sportsbook, lottery and live gaming. In addition, it will also consist of over 10,000 casino games from gaming solution providers of repute. The platform can be incorporated into existing business systems, while providing value-added features such as content aggregation, player acquisition and retention tools.
The GMX-Ag platform will be instrumental in the Company’s plan to advance its White Label Turnkey solutions in fast growing markets such as Asia, Latin America, Africa and parts of Eastern Europe. GMGI has entered into a software license and services agreement with Amelco UK Limited to assist with its Sportsbook service.
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Anthony Goodman, CEO of Golden Matrix, commented,
“We will soon be able to offer an all-inclusive portfolio of online gaming content via a rapid single seamless integration to gaming operators; and, in most cases, the single integration will be at a very competitive flat rate. We are confident that GMX-Ag’s white-labelled turnkey solutions will be popular in developing and regulated markets that are experiencing incredible growth and, as such, we will now be targeting these thriving markets throughout Europe, Latin America and the United States.”
The Company has enlisted the services of two expert gaming veterans in gaming development and marketing, who will guide them through the successful rollout of the GMX-Ag platform. The launch will be the first of several such transactions in 2021, which will enable the Company to expand its reach to wider global markets including the regulated ones in Europe.
The advent of the Smartphone has revolutionized the gaming industry. There is an exponential rise in the number of gamers, which now stands at about 2.3 billion gamers worldwide. According to a report by Newzoo, the global games market which was valued at $137.9 billion in 2018 is likely to reach $180.1 billion in 2021, growing at a CAGR of 11%. Mobile games will contribute to 59 percent of the total or over $106.4 billion by 2021. Mobile and Tablet gaming alone contributed to over $70.3 billion in 2018.
The Second-Largest segment is Console gaming with revenues of $34.6 billion in 2018. The report points out that the industry grew at a CAGR of 11 percent between 2012-2021, which in itself is a major accomplishment, as maintaining a double-digit growth rate for over a decade, is no easy feat. The segment will have grown from an inconsequential sector in 2012 to a 100-billion-dollar industry by 2021.
Asia-Pacific regions will drive the growth in the market, with a steadily increasing smartphone user population, generating $71.4 billion or 52 percent of total global game revenues. Countries such as China, which is the number one gaming market, and Japan are the largest spenders on mobile games, with average spend per payer in Japan being 1.5 times higher than in North America and more than 2.5 times higher than in Western Europe. In addition, China, alone will contribute to more than 25% of all global game revenues, with over $37.9 billion revenues in 2018.
North America is the second-largest market for games with a year-on-year growth rate of 10% and nearly $32.7 billion in 2018. There were similar trends in Europe, Africa and the Middle East Market, which generated combined revenues of $28.7 billion in 2018. Though lacking in average spends per payer, this segment will witness a steady growth in the Smartphone population, making up for the revenues.
Golden matrix is a gaming technology company that develops turnkey and white label gaming platforms, besides offering gaming content and esports technology. The Company provides highly modular, configurable and scalable gaming platforms that encourage user acquisition, engagement, retention and monetization. The system offers incomparable deployment, in mobile as well as desktop versions, and is compatible with all leading operating systems and web browsers. The systems also allow clients to incorporate various gaming scenarios such as loyalty/rewards programs and transaction management and accommodates both free and paid games.
GM-X, the Company’s integration platform is an industry standard that allows scalability and access to over 10,000 + games across to more than 25 providers. The platform offers multiple advantages such as flexible front-end development, performance measurement, integration with 3rd party platforms and wallets and player incentivization to drive user engagement and retention.
The Company caters to over 457 gaming operators and has more than 3161 titles spanning slots, table games, live games and sports. The GM-X platform has over 3.9 million registered players and includes gaming partners such as Asia Gaming, Gameart, Habanero, PlaynGo, Microgaming and Skywind Group to name a few.
GMGI had a great Q3,2020, marking its ninth consecutive profitable quarter. Revenues were up by 69 percent at $1,491,464 as compared to $881,845 in the same quarter in the previous fiscal year. While its EBITDA grew 25 percent to $570,231 as against $456,625 in Q2, 2021. The Company had cash and cash equivalents of $5,009,996, up by 72 percent from $1,856,505 as of January 31, 2020.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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