Shares of Golden Matrix Group Inc. (NASDAQ:GMGI) lost some of its strength on Tuesday, announcing that it introduced an improved tournament platform with more features and capabilities for Rkings players in Ireland and the United Kingdom.
The Las Vegas-based company says the new platform is expected to build the monthly number of skill tournaments and participants, generating even higher profits and profits through RKings’ prize contest activities. Because it is highly scalable, the platform can incorporate other regulated markets; and GMGI plans to launch the platform in Mexico as soon as its Mexican gaming license is approved.
“This major upgrade to the RKings platform will drive the expansion of our B2C business, bringing more features and capabilities and also allowing us to expand into new geographies and our global presence,” said Brian Goodman, CEO of Golden Matrix.
Goodman noted that prior to fiscal 2022, Golden Matrix’s profits came primarily from license fees earned from gaming operators in the Asia-Pacific region and were incorporated with the company’s industry-leading GM-X platform.
Following the Company’s acquisition of RKings, the first part of fiscal 2022 (ended April 30) included significant contributions to RKings’ B2C tournament revenues and earnings.
GMGI shares lost pennies, or 3. 3%, to $4. 66.
MANFN17052022000212011056ID1104229507
Keywords
Feedback
Category
Date