Golden Matrix Group, Inc. - GMGI STOCK NEWS

Golden Matrix Group (NASDAQ: GMGI) has launched an AI-powered casino game recommender through its subsidiary, Meridianbet. This innovative tool aims to enhance user engagement and gaming experience. The AI recommender analyzes player data to offer personalized game suggestions, divided into 'Games You've Tried' and 'Games You Might Like' sections.

Initial results show promising metrics:

• 3% increase in user engagement for recommended games
• 9% increase for unseen recommended games
• 12% decrease for unrecommended games

The AI model undergoes daily training to improve accuracy. This feature aligns with Golden Matrix's strategy to leverage advanced technology for growth across its diverse portfolio, including Meridianbet, RKings, Mexplay, and GMAG.

Golden Matrix Group Inc. (NASDAQ: GMGI) has announced a $5 million stock repurchase program authorized by its Board of Directors. The program is set to expire on July 15, 2025, unless extended or discontinued. CEO Anthony Brian Goodman highlighted potential benefits, including counteracting short interest, mitigating market overhang, and providing an attractive use of capital. Shares may be repurchased in the open market or through negotiated transactions, with repurchases made at management's discretion. The program will be funded using the Company's working capital and does not obligate GMGI to purchase any specific number of shares.

Golden Matrix Group Inc. (GMGI) acquires MeridianBet Group, expanding its global presence and boosting revenues. The acquisition creates a global gaming enterprise operating in 17 countries on four continents, with expectations of significant revenue and profitability growth. The combined company's stock will continue trading on The Nasdaq Capital Market under the ticker symbol 'GMGI.'

Golden Matrix Group Inc. (GMGI) announces stockholder approval for the acquisition of MeridianBet Group. The acquisition aims to expand operations and global footprint. The completion is subject to funding and closing conditions, expected in April 2024.

Golden Matrix Group Inc. (GMGI) reported record quarterly revenues of $11.84 million, a 10% increase from the previous year. The company achieved a net income of $74,505 compared to a loss of $(443,521) in the same quarter last year. Adjusted EBITDA for Q1 '24 was $1.19 million. Golden Matrix Group Inc. has cash-on-hand of $17.29 million, current assets of $24.19 million, and total assets of $37.1 million as of January 31, 2024. The company's shareholders' equity increased to $32.15 million. The B2B gaming platforms have 808 unique casino operations, and the B2C segment has over 338,000 registered users on its tournament platform. The company is set to acquire MeridianBet Group, with a Special Meeting of Shareholders scheduled for approval on March 19, 2024.

Golden Matrix Group Inc. (GMGI) CEO Brian Goodman will participate in an exclusive Q&A session hosted by JRC Stock Talk to discuss key topics such as the company's growth trajectory, RKings Competitions, MEXPLAY, GM-X Platform Debut, and the pending MeridianBet Acquisition.

Golden Matrix Group Inc. (GMGI) will hold a Special Meeting of Shareholders on March 19, 2024, to vote on the proposed acquisition of the MeridianBet Group. The meeting will be held virtually, and eligible shareholders will receive a control number to join the meeting. Shareholders are encouraged to vote and submit proxies early.

Golden Matrix Group Inc. (GMGI) reported record revenues of $44.2 million for fiscal year 2023, marking a 23% increase from the previous year. The company also disclosed a net loss of $1.17 million, with adjusted EBITDA of $2.4 million. GMGI's cash and cash equivalents stood at $17.1 million, while total assets were $35.6 million. The current liabilities were $4.48 million, with no long-term liabilities. The company's shareholders' equity increased to $31.1 million in 2023. GMGI's B2B and B2C segments contributed $15.63 million and $28.54 million, respectively, to the revenue. The acquisition of the MeridianBet Group is expected to close in the first quarter of 2024, with revenue contributions from B2B and B2C segments. The net loss was attributed to various expenses, including stock-based compensation, income tax, and operation costs. CEO Brian Goodman highlighted the company's revenue growth, strengthening of B2C online casino operation in Mexico, and the ongoing resilience and competitiveness of the company's portfolio and IP. The acquisition of the MeridianBet Group is anticipated to enhance GMGI's global footprint, increase revenues, and profitability, with potential product offerings in multiple regions worldwide.

Golden Matrix Group Inc. (GMGI) achieved record revenues of over $44 million for the fiscal year ended October 31, 2023, marking a 22% improvement from the previous fiscal year. The company also reported record revenues of $11.7 million in the fourth fiscal quarter. GMGI CEO, Brian Goodman, highlighted the consistent progress made, strong core B2B platform, and accelerated growth in the B2C segment. The company also generated positive cash flow, with a 14% increase in cash-on-hand compared to the previous fiscal year. Furthermore, GMGI has filed a preliminary proxy statement related to the planned acquisition of the MeridianBet Group, aiming to be a competitive participant in gaming markets worldwide.