Press Releases
Golden Matrix Reports Fiscal 2022 Financial Results With Record Revenues of $36 Million
Golden Matrix Group Inc., developer, licensor and global operator of online gaming and eCommerce platforms, systems, and gaming content, today reported financial results for its fiscal year ended October 31, 2022.
- Full year revenues of $36 million, an increase of 219% on revenues of $11.3 million in the comparable 12-month period ended October 31, 2021.
- Adjusted EBITDA of over $3.5 million * for the year ended October 31, 2022.
- Cash and cash equivalents of $14.9 million and total assets of $32.5 million as of October 31, 2022.
- Total liabilities as of October 31, 2022 of $2,774,932, comprised of $2,715,154 in current liabilities and $59,778 in non-current liabilities.
- GMGI shareholdersâ equity of $26.8 million , up from $18.9 million on October 31, 2021, an increase of 42% over the 12-month period. ended October 31, 2021.
- Current game operations and registered user numbers of 685 and 7 million, respectively, in business-to-business (B2B) traditional business.
- Business-to-consumer (B2C) segment â RKings Competitions Ltd. (RKings) – now has over 45,000 unique active users per month.
- Subsequent event: On January 12, 2023, GMGI entered into a definitive agreement to acquire MeridianBet Group and its related companies in a cash and stock transaction valued at approximately $300 million.
Revenue contributions in fiscal 2022 from GMGIâs B2B and B2C segments were $14.8 million and $21.2 million, respectively. There were no contributions from the (RKings) B2C segment during fiscal 2021, as GMGI had not acquired its 80 percent controlling ownership interest in RKings until the beginning of fiscal 2022. At the end of the fiscal year, GMGI exercised its option and acquired the remaining 20 percent interest. The revenues and adjusted EBITDA discussed above include the 20% non-controlling interest which was held in RKings during the year ended October 31, 2022. More detailed information on the minority interest can be found in our most recent Annual Report on Form 10-K for the year ended October 31, 2022, which was filed with the Securities and Exchange Commission (SEC) today.
The increase of general and administrative expenses â to $5,442,591 in fiscal 2022 from $1,264,672 in the prior year â was due primarily to $3,131,121 of G&A expenses from the Companyâs RKings B2C segment. The 83% year-over-year increase in G&A expenses in the B2B segment was due mainly to increases in marketing and payroll costs.
âThis has been a highly constructive year for our rapidly growing company,â said Golden Matrix CEO Brian Goodman, who continued, âWe believe the increased costs incurred and investments made in our B2B and B2C platforms have positioned GMGI to sustain and even accelerate our strong revenue growth. To remain competitive in the worldwide gaming industry, we are continually upgrading our systems and gaming content offerings to support the needs of our millions of participants.”
Mr. Goodman said, the entry into the agreement to purchase MeridianBet Group, announced recently (the âPurchase Agreementâ) and expected to be completed in the first half of the current year, “will significantly advance GMGIâs global footprint with numerous B2B and B2C product offerings on most continents and, we believe, create the opportunity for us to participate in online gambling markets in the U.S. and Canada.â
Mr Goodman further added, “The combined pro forma revenues of Golden Matrix and MeridianBet are expected to be greater than $100 million for FY2022, with an Adjusted EBITDA estimated to be greater than $22 million for the pro forma year ended October 31, 2022, making the combination financially appealing and earnings-accretive.â
Mr. Goodman said that GMGI expects to begin generating considerable revenues in the first half of this year via its B2C Mexican Casino, which offers Online Casino Games, Sportsbook and the successful RKings Tournament product and continued, âWe believe it should serve as the first major step toward GMGIâs planned expansion throughout Latin America.â
Selective amounts stated above are rounded to the nearest $100,000, please see Form 10-K for exact numbers
NetGaming, a fast-growing online casino content supplier, is proud to announce its launch in Ontario with Rush Street Interactive, Inc., a leading online casino and sports betting company in the United States, Canada and Latin America. This strategic collaboration marks a significant milestone for NetGaming as it continues to expand its footprint across regulated North American markets.
As part of the launch, Ontario players on BetRivers can now enjoy a diverse portfolio of NetGaming titles, known for their high-quality graphics, immersive gameplay, and unique themes. Standout games such as Zeus’s Thunderbolt, Bison Gold, and Fireball Inferno are among the first to go live, with additional titles set to follow soon.
This partnership is just the beginning. NetGaming plans to extend its collaboration with Rush Street Interactive into Michigan, New Jersey, Pennsylvania, Delaware, and Mexico over the coming months.
Pallavi Deshmukh, CEO of NetGaming, commented: âWe are thrilled to go live with Rush Street Interactive, a powerhouse operator with a strong presence and loyal player base. This launch marks a significant milestone in our
North American expansion strategy and underscores our commitment to delivering exceptional gaming experiences tailored to local player preferences across the region.â
Richard Schwartz, CEO of Rush Street Interactive, commented: âWe are pleased to partner with NetGaming to bring innovative, premium games to our players in Ontario. This collaboration aligns with our strategy to offer world-class
entertainment through engaging, action-packed online casino games. We look forward to expanding this partnership into additional regulated markets in the months ahead.â
This strategic partnership highlights both companies’ dedication to providing high- quality, innovative, and responsible entertainment to players in regulated markets.
Canada
Vancouver Resident Purchased Winning $40 Million Lotto Max Ticket While Quenching Sparkling Water Craving
Phuc Duc (Daniel) Chau loves the Bubly brand of sparkling water and stopped in a convenience store to purchase a can. Chau likes to buy lottery tickets based on a gut feeling, and due to the employeeâs bubbly nature while he purchased his Bubly, Chau also purchased a Lotto Max ticket for the May 23, 2025 draw. Â
It was this ticket that ended up scoring Chau a whopping $40-million jackpot. Â
âI was at work when I found out,â recalled Chau of the moment he realized he won. âI was going through my bag to find a cough drop, but I saw that I had two lottery tickets in my bag and decided to scan the tickets, but I needed to update the [BCLC Lotto!] app first. The first ticket I didnât win anything, but the second said $40 million. I have never seen that many zeroes in my life, ever. I dropped my phone and then called BCLC right away!âÂ
At the time of the prize claim, the Vancouver resident hadnât yet shared the news of his win. Â
âMy partner doesnât know yet! I want to share the news with them in a special way.â Â
Chau shared that his dream has always been to travel the world. âThere are so many places I want to go to, so I havenât fully decided!âÂ
When asked if he will quit his job, he said, âI havenât decided, but I want to continue to support my community in a different way.âÂ
On how it feels to be a multimillionaire? Â
âIt means a lot to me. It opens up an opportunity for me to give back to my family, community and the world all around me. Itâs not meaningful unless you can share this with those who need it.â Â
Chau purchased the winning ticket at the 7-Eleven on Imperial Street and Boundary Road in Burnaby. Â
So far in 2025, B.C. lottery players have redeemed more than $146 million from Lotto Max. Lotto Max is a nationwide lottery game drawn on Tuesdays and Fridays after 7:30 p.m. (PST). Â
Players can purchase tickets at lottery retailers or at PlayNow.com. Winning numbers and group release forms can be found online at www.bclc.com. Players can check their lottery tickets anytime, anywhere on iOS and Android devices.Â
BCLC offers socially responsible gambling entertainment while generating income to benefit all British Columbians. Players can visit PlayNow.com to learn how to set time and money limits.
Latest News
ACR POKER AND CHRIS MONEYMAKER TO SEND PLAYERS TO $300,000 GTD MONEYMAKER TOUR MAIN EVENT THIS SEPTEMBER
Play in the Beast Mega Satellite this Sunday for a chance to win a share of over $44,000 in Moneymaker Tour packages to Aruba
Players now have an opportunity to win an unforgettable poker vacation to one of the hottest live events in Aruba this fall. ACR Poker and poker legend Chris Moneymaker are guaranteeing a host of exclusive packages to the $300,000 GTD Moneymaker Tour Aruba Main Event in September.
ACR Pokerâs online Beast Mega Satellite, on Sunday, June 22nd at 5:05pm ET, will guarantee 12 Moneymaker Tour packages worth $3,700 each, totaling $44,400 in value. Players can buy-in for just $95 or qualify for free by placing on the Beast weekly leaderboard.
Each package includes the $1,700 Main Event buy-in, a four-night hotel stay (September 25th to 29th), and $1,000 in airfare. Players will then compete for a share of the $300,000 GTD prize pool, all while enjoying epic poker and off-the-felt experiences set against the stunning backdrop of Aruba.
“Weâre all about making poker fun and accessible, and this Aruba stop is the perfect mix of serious competition and a great vacation,â said ACR Pro Chris Moneymaker. âWhether youâre chasing the title or just chasing the sun, this satellite gives players a chance to play poker in an incredible location and hang out with fellow poker fansâall for a small buy-in. Canât wait to see who wins their way there this fall.â
This exclusive opportunity is part of Chris Moneymakerâs popular land-based poker tour, which includes stops in Las Vegas, Florida, and Canada. From September 26th to 28th, the $300,000 GTD Main Event in Aruba offers players the very best of live poker in a stunning paradise setting. Beyond the poker tables, players can enjoy pristine beaches, crystal-clear waters, and the vibrant island culture of this Caribbean gem.
Also this Sunday, players can join the penultimate Vegas Main Event Satellite at 2:05pm ET, where 10 packages (worth $12,500 each) to the $10,000 buy-in Main Event in Las Vegas will be awarded. In addition, the Sunday Moneymaker Tournament will take place at 1:05pm ET with a $109 buy-in and a guaranteed prize pool of $300,000.
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