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Golden Matrix Group Inc - GMGI STOCK NEWS

Welcome to our dedicated news page for Golden Matrix Group (Ticker: GMGI), a resource for investors and traders seeking the latest updates and insights on Golden Matrix Group.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Golden Matrix Group's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.99%
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.38%
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none
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.64%
Tags
earnings
Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.43%
Tags
earnings
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Rhea-AI Summary
Golden Matrix Group provides corporate update on its pending acquisition of MeridianBet Group, allowing for the use of up to $20 million of cash-on-hand to pay a portion of the $30 million cash payable at closing. Combined company projected to have approximately $132 million in revenues and $27 million in Adjusted EBITDA for fiscal year 2023. Acquisition expected to drive long-term value and benefit from economies of scale.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.2%
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acquisition
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Rhea-AI Summary
Golden Matrix Group Inc. reports Q3 revenues of $11.3 million, a 24% increase YoY. Q3 net loss of $(965,628), impacted by legal expenses and start-up costs for Mexplay. Cash flow from operations remains positive for the 7th consecutive quarter. CEO optimistic about pending acquisition of MeridianBet Group.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.56%
Tags
earnings
Rhea-AI Summary
Golden Matrix Group Inc. (NASDAQ:GMGI) Achieves Record Third Quarter Revenues Exceeding $11 Million, with Significant Contributions from RKings Tournament Competitions
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.37%
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News
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
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-0.44%
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Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
11.7%
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Rhea-AI Summary
Golden Matrix Group Inc. reports Q2 revenues of $10.3 million, a 21% increase from the previous year. Q2 net loss of $(534,000) compared to a profit of $586,984 in the same quarter last year. The company has cash and cash equivalents of $15.7 million and total assets of $34.8 million as of April 30, 2023. B2B segment contributes $3.8 million (37%) and B2C segment contributes $6.5 million (63%) to Q2 revenues. The company remains confident in the success of RKings in Great Britain and plans to introduce its platform to additional markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.07%
Tags
earnings
Golden Matrix Group Inc

Nasdaq:GMGI

GMGI Rankings

GMGI Stock Data

108.38M
17.28M
52.69%
2.76%
0.33%
Electronic Gaming & Multimedia
Communication Services
Link
US
Las Vegas

About GMGI

golden matrix group, inc., a gaming technology company, develops and owns online gaming ip, and builds social gaming platforms for its customers located primarily in the asia pacific region. its gaming ip includes tools for marketing, acquisition, retention and monetization of users. the company's platform is accessed through desktop and mobile applications. the company was formerly known as source gold corp. and changed its name to golden matrix group, inc. in march 2016. golden matrix group, inc. was founded in 2008 and is based in las vegas, nevada.