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Golden Matrix Provides Corporate Update
![](https://gamingamericas.com/wp-content/uploads/2023/07/54374gd_OheWW-POp_000O0.jpg)
Golden Matrix Group Incorporated (NASDAQ:GMGI), a developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, today announced it expects third quarter (ending July 31, 2023) revenues to exceed $10 million, making it the third consecutive quarter for the company to achieve that milestone.
“In addition to benefitting from operational improvements in each of the company’s business units during the quarter, we have made excellent progress with the due diligence process of the MeridianBet Group and we now have multiple offers of funding that will help secure the financing required to complete the acquisition,” the Chief Executive Officer for Golden Matrix Group Incorporated, Brian Goodman, said. “We remain confident that Golden Matrix Group Incorporated, with its growing internal strength and the pending MerdianBet Group acquisition, is on the cusp of transforming into not only a diverse and profitable gaming company, but also one that has considerable scale and extensive global representation.”
Several key factors are contributing to the company’s continued revenue growth:
- Technology upgrades at RKings in Q2 to accommodate larger numbers of tournament participants has resulted in improved offerings; and GMGAsset, a complementary business offering tournament winners of an expensive car or other high-ticket item the option to take a pre-determined cash option in lieu of the prize, generated over $1.2 million in revenue in the first two months of Q3. As GMGAsset takes possession of an item and resells it, each transaction has a built-in positive margin.
- MEXPLAY, the company’s B2C online casino in Mexico, is showing consistent month-on-month progress since its launch in February. Total wagering increased to $3.13 million in June, up 167% on $1.17 million wagered in May. “We believe we are seeing solid compounding growth in our fully-regulated Mexican online casino and we expect our success there to lead to expansion into other Latin American countries,” Goodman said.
- The company’s B2B aggregate gaming system, GMX-Ag, continues to gain traction with the addition of new operators each quarter. The GMX-Ag is a seamless turnkey iGaming system offering the best casino, sportsbook and live gaming content via a single integration with the operators’ existing business systems and also providing a single wallet for their players.
“We are extremely pleased with the strength of our B2B and B2C platforms and their popularity with a growing number of participants,” Goodman concluded. “And with the completion of the MeridianBet acquisition, we will benefit from each other’s strategic contributions and create a new combined company with attractive product offerings in multiple gambling jurisdictions worldwide.”
Further information on financial results for the third fiscal quarter ended July 31, 2023, will be available in Golden Matrix Group Incorporated’s 10-Q filing with the Securities and Exchange Commission, expected to be filed on or before September 15, 2023.
Uncategorized
Lotteries & Native American Casinos in the United States, 2024-2029: Competitive Analysis, Industry Segmentation, Financial Benchmarks
![](https://gamingamericas.com/wp-content/uploads/2024/06/researchmarkets.jpg)
The “Lotteries & Native American Casinos in the US – Industry Market Research Report” report has been added to ResearchAndMarkets.com’s offering.
Over the last few years, industry revenue grew at a CAGR of 5.5% to $198.9 billion, including an expected 3.3% rise in 2024.
In periods of economic growth, lotteries and Native American casinos benefit from low unemployment levels, which drive growth in per capita disposable income. In contrast, recessionary periods cause the majority of consumers to opt against gambling in favor of reducing discretionary spending.
Market Trends
- Pent-up demand propelled industry recovery. Consumers who had cut back on discretionary spending during the pandemic helped boost industry growth.
- Strong consumer demand for traditional lotteries has offset larger pandemic losses. Consumers’ propensity toward simple lottery games sustains the product segment.
- Large population centers are a boon for the industry. In regions with larger population concentration, industry establishments benefit from wider exposure and increased contact with a diverse range of customers.
- A continuous push for high-quality customer service encourages competition. Since many of the gambling and lottery facility operators are small and localized, good customer service ensures a competitive edge and makes the facility more attractive to customers.
Report Coverage
- Market estimates from2014-2029
- Competitive analysis, industry segmentation, financial benchmarks
- Incorporates SWOT, Porter’s Five Forces and risk management frameworks
A selection of companies mentioned in this report includes, but is not limited to:
- The Florida Lottery
- New York State Lottery
Latin America
Salsa primed to showcase localised LatAm solutions at Perú Gaming Show
![](https://gamingamericas.com/wp-content/uploads/2024/06/Salsa-primed-to-showcase-localised-LatAm-solutions-at-Peru-Gaming-Show.png)
Salsa Technology is pleased to announce that it will be exhibiting at the pivotal Peru Gaming Show (PGS) 2024, which is being held at the Centro de Exposiciones Jockey, Lima, Peru, between June 12 – 13, 2024.
Visitors will be able to experience Salsa’s localised solutions at Stand #51, where the star team is on hand to answer questions around the offerings tailored specifically for the Latin American market.
There will also be ample opportunity to explore the enhancements made to the platform that are driving success and innovation in Peru and Brazil, among other regions.
Salsa Technology’s Strategic Alliance Manager, Gina Macheri commented: “We are very excited about exhibiting at PGS this year. Our main focus is on regulated markets, and following its recent regulation, Peru is a market with huge potential. At Salsa Technology, we offer 360 solutions ranging from PAM, content aggregators, and custom developments. As a global-Latin American company, we are able to provide services that allow our clients’ operations to truly grow and stand out from the competition”
Macheri will be spearheading the team in Peru and will be aided by Diego Mourglia, Chief Technology Officer, Eliane Nunes, Head of Marketing & Sales, and Diego Amarillo, Legal Manager.
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GLI® Promotes Andrea Bossard to Senior Director, Engineering
![GLI® Promotes Andrea Bossard to Senior Director, Engineering](https://gamingamericas.com/wp-content/uploads/2024/04/bossard.jpg)
Gaming Laboratories International (GLI®) has promoted Andrea Bossard to Senior Director of Engineering. In her new role, she will focus on maximizing the customer experience and optimizing GLI’s delivery for many land-based suppliers, regulators, and operators globally.
She began her career at GLI in 2006 with a background in QA testing coupled with an education in mathematics and computer science. Throughout her 18+ year GLI career, she has held many lead and management roles, producing results and providing her with the experience to elevate to this position.
“Leaders like Andrea inspire us all to simultaneously drive a world-class experience for both GLI’s customers and employees. She promotes deep, meaningful connections in order to accomplish this, setting a standard for us all to follow,” said GLI Chief Delivery Officer Mackenzie Haugh.
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