Golden Matrix Group, Inc. Reports Expansion into B2C Segment and Launch of Online Casino in Mexico

Golden Matrix Group, Inc. (ticker GMGI)

recently released its quarterly report, revealing its expansion into the business-to-consumer (B2C) segment and the launch of an online casino in Mexico. The company, which operates as a provider of Software-as-a-Service solutions for online casino operators and online sports betting operators, has historically focused on the business-to-business (B2B) market. However, with recent acquisitions, Golden Matrix has entered the B2C sector by offering pay-to-enter prize competitions in the UK and operating an online casino in Mexico.

B2B Segment

The B2B segment remains a key revenue-driver for Golden Matrix, with licensing fees from gaming operators being the primary source of income. As of April 30, 2023, the company’s systems had over 7.2 million registered players and more than 710 unique casino and live game operations across its platforms. Golden Matrix continues to expand its customer base globally, integrating additional operators, launching new products, and appointing more distributors.

B2C Segment

In the B2C segment, Golden Matrix provides pay-to-enter prize competitions in the UK through its subsidiaries, RKingsCompetitions Ltd. and GMG Assets Limited. As of April 30, 2023, RKings had over 297,000 registered users. With 67 transactions completed since November 1, 2022, GMG Assets has generated $2,653,681 in revenues and $98,141 in net income. The company aims to further market its prize competitions to customers throughout the UK.

Online Casino in Mexico

Additionally, Golden Matrix acquired Golden Matrix MX, S.A. DE C.V. on July 11, 2022, to operate an online casino in Mexico. The online casino, branded as Mexplay, features various table games, slots, and a sportsbook, offering tournament competition prizes similar to those offered by RKings. Mexplay began generating revenues in March 2023 and has attracted over 7,000 registered users.

Financial Performance and Future Outlook

In terms of financial performance, Golden Matrix is focused on maintaining sufficient liquidity to fund its operations and meet growth objectives. The company has been meeting its cash requirements through operations and equity securities sales. It may also issue debt to fund strategic acquisitions, including the pending Meridian Purchase Agreement.

While the global, Asia Pacific, UK, and Mexico economies face uncertainties due to rising interest rates, inflation, and the impact of the COVID-19 pandemic, Golden Matrix believes its business will remain resilient. The company is committed to supporting its existing customers as they scale up their iGaming and online sportsbook operations. This involves expanding the platform functionality of its GM-X and GM-Ag Systems, integrating additional third-party content providers, and obtaining regulatory approvals to operate in other global markets.


Overall, Golden Matrix Group, Inc. is optimistic about its growth prospects and aims to capitalize on opportunities in the B2B and B2C gaming sectors. The company’s expansion into the B2C segment and the launch of its online casino in Mexico provide additional revenue streams and diversify its operations. Golden Matrix continues to prioritize customer support, platform improvement, and strategic acquisitions as part of its growth strategy.

Note that we may hold securities mentioned in this article. All data is based on recent SEC filings. Even though we have implemented various manual and automatic fact-checking and data acquisition processes, some incorrect information may have slipped through (false positive). Let us know if you find any inconsistencies!