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Gambling in the USA

Golden Matrix Reports Fiscal 2023 Financial Results with Record Revenues of $44.2M

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Golden Matrix Group Inc, a developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, reported financial results for its fiscal year ended October 31, 2023, including:

Full-year record revenues of $44.2 million, an increase of 23% on revenues of $36 million in the comparable 12-month period ended October 31, 2022; includes record revenues of $11.8 million in the fourth fiscal quarter of 2023.

Net loss of $1.17 million with Adjusted EBITDA of $2.4 million in fiscal 2023.

Cash and cash equivalents of $17.1 million and total assets of $35.6 million as of October 31, 2023.

Current liabilities of $4.48 million and no long-term liabilities as of October 31, 2023.

GMGI shareholders’ equity increased to $31.1 million as of 2023.

Current gaming operators and registered user numbers of 785 and 8.2 million, respectively, in business-to-business (B2B) traditional business.

Business-to-consumer (B2C) segments – RKingsCompetitions Ltd. (RKings) and Mexplay – now have over 325,000 and 61,000 registered users, respectively.

Management expects the acquisition of the MeridianBet Group to close during the first calendar quarter of 2024.

Revenue contributions in fiscal 2023 from GMGI’s B2B and B2C segments were $15.63 million and $28.54 million, respectively.

The net loss in fiscal 2023 was due primarily to general and administrative non-cash expenses of $2.45 million for stock-based compensation, an increase in income tax expenses of $264,257, an increase in Mexplay operation costs of $497,278, an increase in consulting fees of $296,771, and a decrease in foreign exchange gain of $269,196.

“Year after year, we continue to achieve significant improvements in revenue. This solid momentum has delivered four consecutive years of revenue growth and shareholders’ equity increases. GMGI’s success in the past financial year was driven by our diversified portfolio, spanning B2B and B2C, in some of the fast-growing online gaming markets around the world,” said Golden Matrix CEO Brian Goodman.

“Additionally, we further strengthened our Mexplay B2C online casino operation in Mexico.

“We believe that the results delivered over the last financial year demonstrate the ongoing resilience, competitiveness and diversification of our portfolio, IP and the sound fundamentals in the markets in which we operate.

“Increased costs incurred and investments made in our B2B and B2C platforms this past year have been critical to keeping us competitive and accelerating strong revenue growth. Our state-of-the-art gaming systems and superior gaming content continue to evolve to engage and increase our growing numbers of millions of participants.”

Mr. Goodman said the acquisition of the MeridianBet Group “is expected to significantly advance GMGI’s global footprint, and significantly increase revenues and profitability. There will be numerous B2B and B2C product offerings in multiple regions worldwide, and we believe that the combined company will be in a favorable position to participate in the online gambling markets in both the US and Canada.”

Gambling in the USA

High 5 Games Honored with Two Prestigious Awards at the EKG Slot Awards

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High 5 Games, a renowned leader in the casino gaming industry, is proud to announce the receipt of two highly respected awards at the EKG Slot Awards, presented by Eilers & Krejcik Gaming. The awards, “Top Sweepstakes Casino” for High 5 Casino and “Most Innovative Online Game” for Shadow of the Panther Infinity, spotlight High 5 Games’ commitment to excellence and innovation within the digital gaming sphere.

The “Top Sweepstakes Casino” award recognizes High 5 Casino’s exceptional performance and consumer engagement, particularly noting the platform’s expansive game library that exceeds over 1000 titles, cutting-edge technology, and dedication to responsible gaming.

The title of “Most Innovative Online Game” was captured by Shadow of the Panther Infinity, a game that has seamlessly transitioned from land-based popularity to online acclaim. This title features the innovative Racking Up Riches mechanic and the Infinity respins feature, bringing novel excitement to well-established game formats.

“Receiving ‘Top Sweepstakes Casino’ and ‘Most Innovative Online Game – Shadow of the Panther Infinity’ awards is a remarkable win for us. It is the recognition of our products and the impact they have on the industry. These awards inspire us to push the boundaries even further, innovating and elevating the online gaming experience for players around the world and contributing to the development of the iGaming sector as a whole,” said Tony Singer, CEO of High 5 Games.

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Gambling in the USA

March is Problem Gambling Awareness Month — Help Raise Awareness of Resources to Combat Problem Gambling

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The Arizona Department of Gaming (ADG), Division of Problem Gambling (DPG), in collaboration with the National Council of Problem Gambling (NCPG), recognizes March as Problem Gambling Awareness Month. 2024 marks the 21st anniversary of Problem Gambling Awareness Month. “Problem gambling is a serious addiction that affects an estimated two percent of adults and five percent of youth in Arizona,” said Katie Hobbs, Arizona Governor. “That is why I have issued a proclamation announcing March 2024 as Arizona Problem Gambling Awareness Month — through education and outreach, we can spread the word and support those in Arizona who may suffer from problem gambling by getting them the help they need.”

Problem gambling is defined as all gambling behavior patterns that compromise, disrupt or damage personal, family, or vocational pursuits. Approximately 2 million U.S. adults (1% of the population) are estimated to meet criteria for severe problem gambling. Another 4 to 6 million (2-3%) meet the criteria for mild or moderate problem gambling.

This year, DPG will be hosting the 16th Annual Symposium on Problem Gambling. With the theme, “A Closer Look at Problem Gambling in Arizona Through Diverse Populations,” this year’s symposium will be taking a closer look at problem gambling and how it relates to other behavioral health topics and the research and experience of diverse populations.

“There is great importance in bringing together innovators, leaders, and decision makers in person, going beyond virtual interactions,” said Jackie Johnson, ADG CEO. “Our goal is that our conference provides an opportunity for meaningful discussions, sharing of leading best practices, and strategic collaborations essential to our organization’s mission and objectives.”

Problem Gambling Awareness Month is designed to coincide each year with March Madness, during which Americans are expected to wager over $3 billion. For the majority of adults, gambling can be a fun and entertaining experience, but there are risks involved. Sports bettors are at a particularly high-risk for developing a gambling problem. According to the National Survey on Gambling Attitudes and Gambling Experiences 2.0, 4 out of 5 sports bettors reported often needing to gamble more to get the same feeling of excitement.

“We are more than grateful that Arizona Governor Katie Hobbs has once again proclaimed March as Arizona Problem Gambling Awareness Month,” said Elise Mikkelsen, Director of DPG. “We know the disparities in both access to services as well as treatment outcomes have become increasingly evident for individuals from historically underrepresented communities and we want you to know that you are not alone. By utilizing DPG’s free, 24/7 confidential helpline or visiting our website, those in the state can take the next step and access information and resources critical in addressing a problem with gambling.” The Arizona Department of Gaming is not the only State agency that works to alleviate problem gambling.

“The Arizona Lottery recognizes that gambling addiction can affect anyone regardless of age, gender, or socioeconomic status,” said Arizona Lottery CEO Alec Thomson. “We are committed to doing our part to promote responsible gaming by raising awareness on the signs of problem gambling and providing resources to help those who may struggle with a gambling problem.” To date, the Lottery has provided $5.7 million to ADG to contribute to effective statewide problem gambling prevention, treatment, and education programs.

If you or someone you know has a gambling problem, DPG urges you to get help now by calling 1-800-NEXT-STEP (1.800.639.8783), DPG’s confidential helpline, texting “NEXTSTEP” to 53342, or utilizing a chat feature on the DPG website. DPG’s helpline provides confidentiality and connects callers with a master’s level counselor who can connect them with available resources, including statewide treatment providers who specialize in problem gambling. The helpline is available 24/7 to everyone facing a problem with gambling – individuals and affected family members, friends or co-workers.

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Gambling in the USA

PlayStar partners with Enteractive for reactivation campaigns

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PlayStar partners with Enteractive for reactivation campaigns

 

Enteractive, the leader in player conversion and reactivation services, has been engaged by PlayStar, the community-focused online casino that’s currently making waves across the U.S, to support their existing CRM services with bespoke reactivation campaigns aimed at winning back players from lapsed accounts for the sports betting brand.

At the core of the partnership, Enteractive will run activation projects for PlayStar’s brand, focusing on both activation of registered non-funded player accounts and reactivation campaigns to bring back lapsed players.

Jon Bowden, PlayStar CMO, commented, “We are thrilled to partner with Enteractive and their innovative approach to player engagement. The team’s expertise in both conversion and  reactivation campaigns will help us maximise our NGR and enhance the player experience for audiences.”

Enteractive is the industry leader in player conversion and reactivation with 15 years experience talking one-on-one with millions of players around the world, having formed in 2008, and is recognised as one of the top revenue generators globally for the iGaming sector.

Enteractive’s proprietary (Re)Activation Cloud technology platform allows a fast and seamless integration of selected player databases, with native-speaking sales agents able to engage with players in each market with real-human one-to-one outreach by phone.

Andrew Foster, Enteractive CBO, added, “Our primary goal is to facilitate direct communication between iGaming companies and their players using genuine one-on-one interactions. With the aid of our highly skilled team of local U.S. call agents, we are certain that PlayStar can increase their results in player conversions and reactivations.”

Enteractive’s native-speaking call agents support iGaming brands across every time zone. In the last year, Enteractive engaged with over 8.1million players, generating over €59 million for global operators, from almost €263million in deposits.

Foster concluded, “Brands that wish to improve their players’ experience and boost financial gains at the same time will find Enteractive’s sustainable, personalized approach the secret sauce they’ve been looking for!”

With native speaking call agents supporting iGaming brands across the globe, Enteractive converts more than 18,000 players per month for a variety of leading operators.

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