Golden Matrix reports revenue of $11m for Q3

The funds will be used to finance expansion in the US.
The funds will be used to finance expansion in the US.

RKings tournament competitions generated $11m.

US.- Golden Matrix Group has announced it achieved record revenue of $11m for the last quarter. RKings tournament competitions, the company’s B2C segment in the UK, generated $5.8m while GMGAssets contributed $1.7m.

Mexplay, the company’s regulated online casino and sportsbook in Mexico, saw wagering increase 383 per cent sequentially to $5.8m. Player deposits increased 610 per cent to $476,000 and registered players increased 368 per cent to 32,800.

Golden Matrix CEO Brian Goodman said: “July marked our best monthly financial results at RKings since it was acquired almost two years ago. It contributed $7.5m toward total revenues in the quarter, which is $1 million more than contributions of about $6.5m generated in both Q1 and Q2.

“In addition to generating record revenues exceeding $11m for the first time, we made excellent progress during the quarter in securing the financing required to complete the acquisition of the MeridianBet Group; and we anticipate sending out the proxy statement later this month for shareholder approval. Obviously, we are extremely excited to complete this transaction, as it will transform GMGI into a dynamic and highly profitable global gaming company.”

In June, Golden Matrix Group and MeridianBet Group entered into an amended and restated purchase agreement. The firms extended the required closing date and modified additional terms of the agreement under which Golden Matrix will acquire the MeridianBet Group and its related companies.

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