LAS VEGAS, NV, Nov. 04, 2022 (GLOBE NEWSWIRE) — by way of NewMediaWire – Golden Matrix Group Inc. (NASDAQ: GMGI), a developer and licensor of on-line gaming platforms, programs and gaming content material, at this time introduced it had acquired the remaining 20% curiosity in RKings Competitions for a complete of 165,444 restricted shares of GMGI’s frequent inventory payable to the 2 former homeowners of RKings.
“Obviously,” stated Golden Matrix CEO Brian Goodman, “we are pleased to now have this exciting and successful B2C business as a wholly-owned entity; it is highly scalable and expected to grow quickly in multiple regulated jurisdictions. In addition to Great Britain, we expect RKings’ tournament platform to be popular and well-received by participants in Mexico, where it is already permitted to operate; and we believe it can expand into other Latin American markets over the next couple years.”
Mr. Goodman additionally stated the corporate had additionally just lately launched a complementary business, GMGI Assets, which can serve to boost the income stream and revenue, being generated by the RKings division. “As an example, and in some instances, the tournament winner of an expensive automobile may choose to take a predetermined cash option in lieu of the car. When this occurs, GMGI Assets will take possession of the car and resell it. Each transaction has a built-in positive margin, and we expect this business to make significant contributions to GMGI’s overall financial results as the number of auto tournament offerings continues to grow in Great Britain, as well as additional jurisdictions in the future.”
Golden Matrix Group, based mostly in Las Vegas NV, is a longtime gaming expertise firm that develops and owns on-line gaming IP and builds configurable and scalable white-label B2B gaming platforms for its worldwide clients, positioned primarily in the Asia Pacific area. The gaming IP contains instruments for advertising, acquisition, retention and monetization of customers. The Company’s platform might be accessed by each desktop and cell purposes. Additionally, Golden Matrix generates revenues in Great Britain from RKings Competitions’ scalable B2C event platform, and has just lately launched a licensed proprietary B2C on-line on line casino in Mexico.
Forward-Looking Statements
Certain statements made in this press launch include forward-looking data inside the which means of relevant securities legal guidelines, together with inside the which means of the Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). These forward-looking statements characterize the Company’s present expectations or beliefs regarding future occasions and may typically be recognized utilizing statements that embody phrases similar to “estimate,” “expects,” “project,” “believe,” “anticipate,” “intend,” “plan,” “foresee,” “forecast,” “likely,” “will,” “target” or comparable phrases or phrases. These forward-looking statements are topic to dangers, uncertainties and different components, a lot of that are exterior of the Company’s management which may trigger precise outcomes to vary materially from the outcomes expressed or implied in the forward-looking statements, together with, however not restricted to, the affect of the COVID-19 pandemic on the Company; the necessity for extra financing, the phrases of such financing and the supply of such financing; the flexibility of the Company and/or its subsidiaries to acquire further gaming licenses; the flexibility of the Company to handle progress; the Company’s potential to finish acquisitions and the out there funding for such acquisitions; disruptions brought on by acquisitions; dilution brought on by fund elevating, the conversion of excellent most well-liked inventory and/or acquisitions; the Company’s potential to take care of the itemizing of its frequent inventory on the Nasdaq Capital Market; the Company’s expectations for future progress, revenues, and profitability; the Company’s expectations concerning future plans and timing thereof; the Company’s reliance on its administration; the truth that the Company’s chief govt officer has voting management over the Company; associated celebration relationships; the potential impact of financial downturns, recessions, will increase in rates of interest and inflation, and market situations, decreases in discretionary spending and due to this fact demand for our merchandise, and will increase in the price of capital, associated thereto, amongst different impacts thereof, on the Company’s operations and prospects; the Company’s potential to guard proprietary data; the flexibility of the Company to compete in its market; the Company’s lack of efficient inside controls; dilution brought on by efforts to acquire further financing; the impact of present and future regulation, the Company’s potential to adjust to laws and potential penalties in the occasion it fails to adjust to such laws and modifications in the enforcement and interpretation of present legal guidelines and laws and the adoption of latest legal guidelines and laws which will unfavorably affect our business; the dangers related to gaming fraud, person dishonest and cyber-attacks; dangers related to programs failures and failures of expertise and infrastructure on which the Company’s applications rely; overseas trade and foreign money dangers; the result of contingencies, together with authorized proceedings in the traditional course of business; the flexibility to compete in opposition to present and new opponents; the flexibility to handle bills related to gross sales and advertising and needed common and administrative and expertise investments; and common shopper sentiment and financial situations which will have an effect on ranges of discretionary buyer purchases of the Company’s merchandise, together with potential recessions and international financial slowdowns. Although we consider that our plans, intentions and expectations mirrored in or steered by the forward-looking statements we make in this launch are cheap, we offer no assurance that these plans, intentions or expectations shall be achieved. Consequently, you shouldn’t take into account any such checklist to be an entire set of all potential dangers and uncertainties. More data on potential components that would have an effect on the Company’s monetary outcomes is included sometimes in the “Special Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and present filings with the SEC, together with the Form 10-Qs and Form 10-Ks, together with, however not restricted to, the Company’s Transition Report on Form 10-Okay for the 9 month transition interval ended October 31, 2021 and its Quarterly Report on Form 10-Q for the quarter ended July 31, 2022. These experiences are filed with the SEC and out there at www.sec.gov. All subsequent written and oral forward-looking statements attributable to the Company or any individual performing on behalf of the Company are expressly certified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable components additionally may have materials hostile results on the Company’s future outcomes. The forward-looking statements included in this press launch are made solely as of the date hereof. The Company can not assure future outcomes, ranges of exercise, efficiency or achievements. Accordingly, you shouldn’t place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to replace these statements after the date of this launch, besides as required by regulation, and takes no obligation to replace or appropriate data ready by third events that aren’t paid for by the Company. If we replace a number of forward-looking statements, no inference needs to be drawn that we’ll make further updates with respect to these or different forward-looking statements.
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Golden Matrix Group
Contact: Scott Yan
Email: [email protected]
