Golden Matrix Group, Inc. ( (GMGI) ) has released its Q4 earnings. Here is a breakdown of the information Golden Matrix Group, Inc. presented to its investors.
Golden Matrix Group, Inc., based in Las Vegas, is a prominent player in the gaming technology sector, developing and operating online gaming platforms globally. The company is known for its innovative AI-driven solutions and strategic acquisitions, which bolster its presence in the iGaming and sports betting markets.
Golden Matrix Group has reported a remarkable financial performance for the fiscal year 2024, achieving record revenues of $151 million, a 63% increase from the previous year. The fourth quarter alone saw an 81% revenue growth, reaching $46 million. The company attributes this success to strategic acquisitions and enhancements in its AI-powered platforms.
Key financial highlights include a 45% rise in gross profit for the fourth quarter and a 30% increase for the full year, despite a net income decline due to acquisition-related costs. The company maintains a strong cash reserve of $30 million, providing financial flexibility for future investments. Operationally, Golden Matrix’s segments, such as Meridianbet and RKings Competitions, have shown significant growth, with Meridianbet’s revenue up by 14% and RKings achieving record ticket sales.
Looking forward to 2025, Golden Matrix Group is poised for further growth, with an estimated revenue increase of up to 80% in the first quarter. The company plans to expand into new regulated markets, enhance its AI-driven gaming innovations, and pursue strategic acquisitions to solidify its market position and drive profitability.
The company’s management remains optimistic about sustaining its growth trajectory, focusing on operational efficiency and market expansion to deliver long-term value to its shareholders.