May 11, 2022 (Financial News Media via COMTEX) -- NetworkNewsWire Editorial Coverage
New York, NY - May 11, 2022 – Luck is a huge aspect of gambling, but luck has a way of favoring the intelligent and showing its back to the foolish. Good online gamblers look for opportunities to improve their odds, then press when probabilities are in their favor. Luck is a fickle mistress and good gamblers know that luck is what happens when preparation meets opportunity. The seduction of gambling dates as early as 200 BC and now flourishes on PCs and mobile devices around the world. Eclipsing $70 billion last year, major casinos and new gaming platforms are fighting for a piece of the action. The market is booming, but there's a serious drawback for these platforms. Customer acquisition cost for an online casino in the United States is more than $500 ,and some estimates peg player value at $300 or less. That's not a winning formula, and many online casino operators now realize that traditional advertising for sports betting and iGaming products presents an irrational cost of customer acquisition. With the online gaming market expected to balloon to more than $130 billion in the next five years, there may be a smarter way to cash in on the action. Providing B2B services such as online gaming platforms, systems, and gaming content has proved to be a winning business model. Coming off its 14th consecutive quarter of profitability, Golden Matrix Group Inc. /zigman2/quotes/205126450/composite GMGI +2.90% ( Profile ) is capturing enviable market share delivering state-of-the-art configurable and scalable white label B2B gaming platforms for its customers across the globe. Golden Matrix's gaming IP includes sophisticated tools for marketing, acquisition, retention, and monetization of users, exactly what platform operators need to achieve profitability. Golden Matrix has established itself as one of the world's leading providers of turnkey and white label gaming platforms, gaming content, and Esports technology. Others in the sector, such as DraftKings Inc. /zigman2/quotes/213120645/composite DKNG +0.86% , International Game Technology /zigman2/quotes/202670793/composite IGT +3.99% , Bragg Gaming Group Inc. /zigman2/quotes/205860752/composite BRAG -1.64% and GAN Limited /zigman2/quotes/218226469/composite GAN +0.34% , are also working to expand into new markets and increase shareholder equity.
Global online gambling market reached $72.3 billion in 2021 and is expected to exceed $131 billion by 2027 with a CAGR of nearly 10%.
Coming off 14 consecutive quarters of profitability, Golden Matrix Group Inc. just uplisted to NASDAQ.
GMGI has an aggressive international growth strategy, including its recent 80% interest in RKings, one of the UK's leading independent online competition companies.
Golden Matrix's platforms are completely scalable with operating cost similar for 100 or 1M players.
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Online Gaming Tsunami
The flood of online gaming action was only amplified by new players during the global pandemic. According to IMARC Group , the global online gambling market reached $72.3 billion in 2021, and the market is expected to reach $131.4 billion by 2027, with a CAGR of 9.96% during 2022--2027.
Strong structural forces are expected to carry the market well beyond the pandemic surge, which introduced millions of new players to online gaming. IMARC cites rapid urbanization, along with increased global penetration of the internet. Legalization, technological advancements, high-profile sponsorships, and cultural acceptance of online betting are all boosting market growth. Easy use of mobile devices and bitcoin gambling are expected to drive the market further.
Online Gaming Windfall
The online gambling tsunami has proved a windfall for Las Vegas-based Golden Matrix Group Inc. . GMGI is capitalizing on the surging demand and delivering essential products and services the sector needs. The innovative gaming tech company develops and owns a broad array of online gaming IP, supplying configurable and scalable white-label B2B gaming platforms for its customers, mostly in the Asia Pacific region right now.
The company's gaming IP includes all the tools operators need for customer acquisition, retention, marketing and monetization of users. This is exactly what operators covet to reduce customer acquisition costs and increase customer value. Proof of efficacy is GMGI's quarter-over-quarter record revenues and 14 consecutive quarters of increased profitability.
Golden Matrix's platform can be easily accessed through both desktop and mobile applications and optimizes a B2B client's ability to address to a wide range of gaming choke points including transaction management, loyalty and reward programs, and many other functions that operators depend on. GMGI supports the widest swath of player engagement by accommodating both free and cost to play games.
The company's white label social gaming platform is unparalleled in both mobile and desktop website deployment and is compatible with all major operating systems and web browsers. In addition, GMGi's sophisticated software automatically declines any gaming or redemption request from any restricted jurisdiction.
Golden Matrix has established a new standard for gaming platforms and offers what is believed to be the industry's most extensive game portfolio. Golden Matrix's configurable and scalable gaming platform, GM-X System, grants access to 10,000-plus games across more than 25 providers. The GM-X Turnkey Solution is a complete software package for starting and operating an online gaming business. Designed with industry-best practices, GMGI's solution is integrated with thousands of games from industry -eading content providers.
The GM-X Turnkey Solution offers a full suite of tools and features for successfully operating and maintaining an online gaming website, from player registration and user management to payment solutions and content management. With GM-X, operators have all the required elements to customize and operate their own gaming site.
GMGI's GM-X White Label Solution is the fastest way to start an online gaming platform from scratch, providing clients with licensing, accounting, management, support and gaming content. It's effectively utilized by operators that want to focus solely on marketing and move quickly into new markets with a proven setup. GM-X offers both desktop and mobile sites based on the desired aesthetic, with best-in-class, ready-to-go gaming content.
The GM-X Direct Integration Solution offers operators quick access to GMGI's entire gaming portfolio and acts as an integration layer between the operator and content provider, on top of the GM-X aggregation system. Leveraging the GM-X Direct Integration System, clients can quickly enter new regulated markets with the most relevant country-specific, multilingual content for their audiences.
Expanding Market Share
Golden Matrix is partnered with some of the largest and most expansive iGaming operators in the Pacific Rim, and the company has designs on numerous other global venues. GMGI's current 30+ gaming partners dominate Asia's online gaming market, seamlessly delivering innovative games and premium brand titles. Not satisfied, Golden Matrix is on a mission for global dominion.
With a European gaming license secured, Golden Matrix announced in December a purchase agreement to acquire an 80% controlling ownership interest in UK-based RKings Competitions Ltd., one of Ireland's and the UK's leading independent online competition companies. RKings is a well-established business-to-consumer (B2C) skilled tournament company with revenues that exceeded $29 million and annual net income of more than $2.4 million during the fiscal year ending Oct. 31, 2021. Synergistic with the GMGI's B2B business, the accretive acquisition has already provided significant revenue contributions, and Golden Matrix is actively expanding its reach.
In March, Golden Matrix announced it had applied for a Mexican gaming license and, once approved, plans to offer iGaming in Mexico and launch the RKings tournament platform. This opens compelling new opportunities in the vast Latin America B2C market, and the strategic move will begin the expansion of the RKings tournament platform to regions outside of the UK. Golden Matrix is confident that, in addition to casino games and sportsbook betting, RKings will be received enthusiastically, generate significant revenues and boost overall profitability.
GMGI also intends to expand into the United States, specifically New Jersey. The company has big plans for a new U.S. operation and is creating a platform for esports gamers to wager bets against other players.
To enhance global growth and visibility, Golden Matrix recently uplisted to NASDAQ. As CEO Brian Goodman stated, "Uplisting our common stock to Nasdaq is extremely important to Golden Matrix, at a time when we are expanding rapidly and entering into new global markets. We expect the uplisting to significantly improve the Company's visibility, broaden our base of both retail and institutional stakeholders, and lead to enhanced long-term shareholder value. Additionally, we believe this uplisting will further strengthen our ability to execute on the company's acquisition strategy with the goal of accelerating both revenue and profit growth going forward."
With GMGI's impressive track record thus far, it appears a safe bet that GMGI can achieve global growth while maintaining margins and profitability. Golden Matrix understands how to win with online gambling.