- The iGaming market is expected to reach $127 billion by 2027
- Golden Matrix Group provides turnkey gaming platforms giving iGaming operators access to over 10,000 games, state of the art loyalty and customer retention systems
- GMGI recently acquired and 80% stake in RKings, helping boost revenue 221% in Q1 to $8.48 million as it ventures into the Mexican markets and ESports industry
In 2021, the U.S. commercial gaming industry generated revenue of $53 billion, smashing the previous record set in 2019 at $43.65 billion. With new markets coming online, more records are almost certainly in the cards as evidenced by a Q1 record of $14.1 billion in nationwide revenue to start 2022. Although online gambling, or “iGaming” as it is colloquially called, is still not as popular as its land-based counterpart, the time has come, in the words of Betenemy.com, “for online casinos to be in the spotlights.” It’s anticipated that the iGaming market will reach $127 billion by 2027, growth that companies like Golden Matrix Group (NASDAQ: GMGI) intend to capitalize upon.
The U.S. isn’t the only player at the table by any stretch of the imagination. Europe has a massive gambling population accounting for 49 percent of the global market, with estimates for 2022 gambling revenue around $100 billion. Online casinos are thriving in Europe, comprising 23 percent of the overall market.
Asia Pacific, with its billions of inhabitants, is the world’s single biggest market, accounting for 32% of the $76.79 billion value of the global iGaming market in 2020.
From its headquarters in Las Vegas, Nevada, Golden Matrix is a gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label B2B (business-to-business) gaming platforms for its international customers, primarily in the Asia Pacific region. The gaming IP includes tools for marketing, acquisition, retention, and monetization of users. The platform is available in both desktop and mobile applications.
Golden Matrix’s GM-X system, and newly launched GMX-Ag platform are a gold standard for the iGaming market, delivering access to 10,000+ games from over 25 leading game providers. More than 635 unique casino operations use Golden Matrix’s platform to serve more than 7 million registered players.
The company made its entrance into the lucrative European markets with the acquisition of an 80% controlling interest in RKings Competitions Ltd. last November, with the option to acquire the remaining 20%. Based in England, RKings operates online competitions for players in the United Kingdom and Ireland where winners can take home exotic cars, vacations, electronics, and more.
The acquisition of RKings was partially responsible for Golden Matrix revenue jumping 221% year-over-year in the first quarter to $8.48 million.
As the online gaming industry continues to evolve, Golden Matrix is expanding horizontally and vertically. The company has submitted an application for a gaming license in Mexico where, once issued, it will roll-out its RKings iGaming tournament platform.
Elsewhere, Golden Matrix is making its initial foray into the booming ESports market. The company is in an optimal position with its strong brand in Asia Pacific, effectively the birthplace of electronic sports and still the most robust marketplace in the world. Gambling on ESports has many unique sets of challenges to keep things fair and honest. To date, most major sports books only offer limited betting action on ESports and that is typically restricted to only games like the ever popular first-person CS: GO, and only during high-stakes tournaments where players are less tempted to potentially throw a game.
Right now, Golden Matrix CEO Brian Goodman says his company is focusing on peer-to-peer Esports betting, another area that has been highly touted for its potential because bets can be customized and eliminate “the house” and setting the odds. Plus, peer-to-peer bets on Esports aren’t subject to as many regulatory restrictions as bona fide gambling operations, such as sports books and online casinos.
For more information, visit the company’s website at www.GoldenMatrix.com.
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://nnw.fm/GMGI
About NetworkNewsWire
NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information, please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
[email protected]
NetworkNewsWire is part of the InvestorBrandNetwork
