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Golden Matrix Reports First-Quarter Financial Results with Record Revenues of $10.78 Million
Golden Matrix Group Incorporated, a developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, today reported its financial results for its fiscal quarter ended January 31, 2023.
* Q1 2023 revenues of $10,777,679, a 21.4% increase on revenues of $8,877,105 in the like year-ago quarter.
* Net loss of $443,521 for Q1 2023, versus net income of $349,379 for Q1 2022.
* Adjusted EBITDA for Q1 2023 of $889,605 versus adjusted EBITDA of $729,266 in Q1 2022.
* Cash and cash equivalents of $15,423,897 and total assets of $34,383,085 as of January 31, 2023.
* Total liabilities as of January 31, 2023, of $3,866,696 comprising $3,828,963 in current liabilities and $37,733 in non-current liabilities.
* Working capital (current) ratio: 5.54.
* Golden Matrix Group Incorporated shareholders’ equity of $30,516,389 on January 31, 2023, up from $26,797,415 on October 31, 2022.
* Current gaming operator and registered user numbers of 710 and over 7.2. million, respectively, in business-to-business (B2B) traditional business.
* Business-to-consumer (B2C) segment – RKingsCompetitions Limited – now has over 289,000 registered users on its tournament platform. During the quarter, RKings became a wholly-owned subsidiary when Golden Matrix Group Incorporated exercised its option to acquire the remaining 20 percent non-controlling interest.
* On January 12, 2023, Golden Matrix Group Incorporated 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 Q1 ’23 from GMGI’s B2B and B2C segments were $4,224,457 (39%) and $6,553,222 (61%), respectively.
A summary of the Company’s performance and highlights can also be found at www.GoldenMatrix.com/Highlights.
The increase in total operating expenses – to $2,771,989 in Q1 2023 from $1,620,145 during the quarter ended January 31, 2022 – was due primarily to non-cash charges totalling $961,730 for stock-based compensation issued to company management, directors, employees and consultants, which contributed to a Q1 net loss of $443,521 versus net income of $349,379 in the like year-ago quarter.
“Despite a challenging economic climate worldwide, we are pleased that our B2B and B2C segments continue to grow and gain traction in their respective markets,” the Chief Executive Officer for Golden Matrix Group Incorporated, Anthony Brian Goodman, said. “Additionally, we are making significant progress in preparing to enter new geographic markets through MEXPLAY, our recently formed B2C casino platform in Mexico, and through the anticipated acquisition of the MeridianBet Group and its related companies, which is expected to be completed during the first half of this year subject to the completion of certain conditions to closing including funding and shareholder approval. The MeridianBet acquisition is expected to position Golden Matrix Group Incorporated as a profitable worldwide gaming company with significant growth prospects including the potential entry into regulated North American markets subject to applicable rules and regulations.”
Gambling in the USA
Aristocrat Interactive™ to Showcase Innovative iLottery Solutions at NASPL 2025 Annual Conference & Trade Show
Aristocrat Interactive™, the Real Money Gaming (RMG) division of Aristocrat, today announced its participation as a Level II Sponsor at the North American Association of State and Provincial Lotteries (NASPL) 2025 Annual Conference & Trade Show.
NASPL, the leading trade association representing 53 lottery organizations across North America, serves as a platform for collaboration, research, standards, and best practices that drive the future of the industry. Taking place September 8–11, 2025 at the Niagara Falls Convention Center in Ontario, Canada, the event, themed “Here to Play”, will gather lottery leaders from across North America to explore the evolving future of the industry.
Aristocrat Interactive will be showcasing its latest innovations for the iLottery sector through an interactive booth setup, one-on-one director’s dialogue sessions, a product and services showcase, and more. Attendees will get a first look at new eInstant titles, featuring fresh game mechanics and the business’s first cross-over game with its iGaming & Sports division. Aristocrat Interactive will also highlight its successful omnichannel solutions, which connect retail and online play to enhance player engagement and experience.
Building on this momentum, Aristocrat Interactive recently launched the New Hampshire Lottery’s new digital platform, signed long-term contracts with the Michigan Lottery and the Massachusetts Lottery, and secured a two-year extension with its NeoPollard Joint Venture in North Carolina—where Aristocrat Interactive provides the iLottery platform. These partnerships underscore Aristocrat Interactive’s commitment to helping lotteries deliver engaging digital experiences and sustainable growth.
“NASPL always sets the table for engaging discussions that can advance our customer-driven strategies to drive real digital growth for lotteries,” said Chris Shaban, Managing Director, iLottery at Aristocrat Interactive. “We’re looking forward to another opportunity to showcase Aristocrat Interactive as a solidified, future-ready unit with global gaming expertise.”
Attendees can connect with Aristocrat Interactive at Booth #209 and meet the team for one-on-one discussions in Room #205. Aristocrat Interactive will also hold a showcase on Wednesday, September 10 at 1:30 p.m. at its booth.
For more information about Aristocrat Interactive and its iLottery solutions, please visit aristocratinteractive.com.
Gambling in the USA
Scientific Games Introduces Obsidian, All-Black Holographic Lottery Scratch Games
Premium Instant Scratch Game Innovation Adds Luxury and Uniqueness at Retail with Exclusive Play Experience
Scientific Games announces Obsidian, its latest breakthrough in instant scratch game innovation. A revolutionary addition to the global lottery company’s holographic product offerings, Obsidian will debut at the North American Association of State & Provincial Lotteries 2025 Conference taking place September 8 to September 11 in Ontario, Canada.
With 18 unique design concepts, Obsidian games feature a dramatic combination of all-black tones and holographics to create a sleek, glasslike appearance. Named after naturally occurring volcanic rock, the Obsidian line offers a bold, ultra-premium look and scratch experience.
Obsidian is one of a number of new product designs from Scientific Games to be unveiled at NASPL 2025. The new products were developed by Scientific Games’ Innovation and Discovery teams at its metro Atlanta global headquarters, the largest lottery instant game production facility in the world. Obsidian games will also be produced at the company’s Canadian and UK facilities.
“Our game innovators have followed holographic trends on high-end luxury items and were inspired to create fresh, new games centered on value proposition design for our lottery partners,” said Danielle Hodges, Senior Director, Global Product Innovation & Development for Scientific Games. “At a time when the market basket average is increasing, holographic games allow lotteries to differentiate their games by adding a touch of luxury and uniqueness. In sneak previews of Obsidian with several lotteries, the response we’ve received is pure excitement.”
The company continues to lead the industry in scratch game innovation, using holographics to heighten retail appeal and create immersive player experiences.
Scientific Games, the world’s largest creator, producer and manager of lottery instant games, offers more than 100 strategic enhancements for its world-leading scratch products. The company’s products represent 70% of global instant game retail sales.
Innovating products and solutions that move the global lottery industry forward since 1973, Scientific Games provides retail and digital games, technology, analytics and services to 150 lotteries in 50 countries around the globe, including nearly every North American lottery.
Obsidian™ is a trademark of Scientific Games, LLC. © 2025 Scientific Games, LLC. All Rights Reserved.
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