Golden Matrix Group Inc
F:SE0C
Golden Matrix Group Inc
Golden Matrix Group, Inc. engages in the business of software technology. The company is headquartered in Las Vegas, Nevada and currently employs 17 full-time employees. The company went IPO on 2009-02-02. The firm develops and owns online gaming intellectual property (IP) and builds configurable and scalable, turn-key, and white-label gaming platforms. The Company’s Internet gambling enterprise software system provides a casino and live game operations. The Company’s platforms include GM-X System (GM-X), Turnkey Solution and White Label Solutions. The GM-X System turn-key solution is a software package for starting an online gaming business, incorporating all the tools and gaming content necessary to run an online Casino and Sportsbook. The company offers a range of tools and features for operating and maintaining an online gaming Website, from player registration to user management and content management.
Golden Matrix Group, Inc. engages in the business of software technology. The company is headquartered in Las Vegas, Nevada and currently employs 17 full-time employees. The company went IPO on 2009-02-02. The firm develops and owns online gaming intellectual property (IP) and builds configurable and scalable, turn-key, and white-label gaming platforms. The Company’s Internet gambling enterprise software system provides a casino and live game operations. The Company’s platforms include GM-X System (GM-X), Turnkey Solution and White Label Solutions. The GM-X System turn-key solution is a software package for starting an online gaming business, incorporating all the tools and gaming content necessary to run an online Casino and Sportsbook. The company offers a range of tools and features for operating and maintaining an online gaming Website, from player registration to user management and content management.
Revenue Growth: Golden Matrix reported second quarter revenue of $39.4 million, up 75% due to the Meridianbet acquisition and strong operational performance.
Net Income: Net income for the quarter was $15,000, impacted by non-cash items and one-off acquisition and restructuring costs.
EBITDA & Profitability: Adjusted EBITDA held steady at $5.4 million for the quarter, reflecting resilience despite acquisition-related expenses.
Strong Balance Sheet: Cash and equivalents rose to over $40 million, nearly doubling since December 2023, with net debt leverage at 1.6.
Business Unit Highlights: GMAG platform saw wagering up 124% to $1.2 billion, and R Kings Competitions delivered record revenue of over $9.6 million.
Strategic Expansion: The company is focused on entering new markets like Brazil and Peru, leveraging AI technologies and completing a major software upgrade.
Upbeat Outlook: Management reiterated a target of over $150 million in annual revenue and $13 million in adjusted EBITDA by 2025.
