LAS VEGAS, NV, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Golden Matrix Group Inc. (OTCPK: GMGI), a technology-driven company that designs and develops social gaming platforms used primarily in the Asia Pacific (APAC) region, today said it expects to report fourth quarter (July 31, 2018) revenue exceeding $450,000.
This represents a 30% improvement on revenue of $345,148 recorded in the previous (third) quarter. The company’s audited financial results for Q4 and fiscal 2018 will be reported in GMGI’s upcoming annual report (Form 10-K).
“We had a strong fourth quarter - with positive cash flow and high operating margins - as we continued to increase the number of gaming operators utilizing GMGI’s state-of-the-art gaming platform,” said Golden Matrix CEO Anthony Goodman. “As we begin the new fiscal year, we now have two effective distributors helping us gain access to additional gaming operators in the APAC region, and we are now offering our first four proprietary games to their customers on the company’s New Generation GM-X System.”
First introduced in May at the Global Gaming Expo Asia (G2E) held in Macau, NewGen GM-X incorporates an artificial intelligence (AI) component as well as a module that supports seamless integration with Sportsbooks and e-Sports. It can provide current and prospective gaming operators with the ability to strengthen their customer acquisition/retention and back-end management, as well as add more gaming content.
Last week Golden Matrix announced it had launched and gone live with its first four proprietary slot games, and said it had an additional 18 games under development and expected to go live over the next three months.
“We are confident that the increasing number of gaming operators using our platform, coupled with the ability to now offer proprietary games that engage their customers, will serve to accelerate both revenue and profit for the foreseeable future,” said Mr. Goodman.
About Golden Matrix Group Inc.
Golden Matrix Group, based in Las Vegas, NV, is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label social gaming platforms for its international customers, located primarily in the Asia Pacific region. The gaming IP includes tools for marketing, acquisition, retention and monetization of users. The company's platform can be accessed through both desktop and mobile applications.
Our sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current US law.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
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