Golden Matrix Group, Inc. ( (GMGI) ) has released its Q3 earnings. Here is a breakdown of the information Golden Matrix Group, Inc. presented to its investors.
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Golden Matrix Group Inc., headquartered in Las Vegas, is a key player in the global online gaming industry, specializing in developing, licensing, and operating gaming platforms across international markets.
In its latest quarterly report, Golden Matrix Group Inc. announced significant earnings growth, reporting a year-to-date revenue increase of 55% to $105.3 million. The company highlighted the successful integration of its recent acquisition, Classics for a Cause, as a contributor to its robust financial performance.
The third quarter results showcase an impressive 85% rise in consolidated revenue, amounting to $41 million. Gross profit also saw a substantial increase of 39%, reaching $22.4 million. The company’s adjusted EBITDA stood at $4.3 million, demonstrating resilience across various revenue streams despite currency fluctuation challenges. Notably, Golden Matrix’s balance sheet reflects financial strength, with over $38.4 million in cash and a shareholder equity growth of 60%.
Operationally, the company celebrated milestones such as the expansion of its GMAG platform and the growth of its Meridianbet segment, which reported a 16% year-over-year revenue increase. Additionally, the company’s online casino, Mexplay, showed promising growth in Latin America with a 56% increase in active players and gross gaming revenue reaching $15 million.
Looking ahead, Golden Matrix Group Inc. continues to focus on strategic growth initiatives, leveraging its robust financial position to drive further expansion in key markets. The management remains optimistic about the company’s potential to achieve landmark performance in the coming fiscal year.
