Social Gaming Firm, Golden Matrix Reports 1.5 Million Users

- October 23rd, 2019

In its fiscal 2019 report, the company announced US$1.7 million in net income and US$2.8 million in revenues.

Golden Matrix (OTC:GMGI), a technology company that develops social gaming platforms announced 1.5 million registered users and revenues of US$2.8 million in its fiscal 2019 results. With 63 percent operating margins, the company’s revenues were driven mainly from licensing agreements from its Asia Pacific clientele.

As quoted in the press release:

Revenues in 2019 – derived primarily from licensing fees received from gaming operators located in the Asia Pacific (APAC) region – were generated during the entire year, whereas revenues in 2018 were generated only during the last five months of the fiscal year and subsequent to the acquisition of the company’s proprietary gaming technology.

Golden Matrix achieved a 63 percent operating margin in fiscal 2019. Net cash provided by operating activities was $1,451,934 versus $302,716 in fiscal 2018. Cash and cash equivalents of $1,731,095 at year-end 2019 was a 288 percent increase on $446,581 at year-end 2018.

“We are extremely pleased with the company’s continued revenue and profit growth,” said Golden Matrix CEO Brian Goodman. “It clearly demonstrates the acceptance and reputation of GMGI’s powerful state-of-the-art gaming platform and popular gaming content.”

Click here to read the full press release.

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