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Golden Matrix on Track to Record Seventh Straight Quarter of Rising RevenuesFirst fiscal quarter 2020 revenues expected to exceed $800,000 LAS VEGAS, Oct. 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Golden Matrix Group Inc. (OTCPK: GMGI), a technology-driven company that designs and develops social gaming platforms, systems and gaming content, today said that for the first fiscal quarter ending October 31, 2019, it expects to report revenues exceeding $800,000. Revenues to date are up 7% when compared with the same period of time during last quarter, Q4 ended July 31, 2019. This would represent the company’s seventh straight quarter of rising revenues and more than a 25% increase on revenues of $638,695 recorded in the first fiscal quarter ended October 31, 2018. “As with previous quarters in fiscal 2019,” said Golden Matrix CEO Anthony Goodman, “our continued strong revenue growth in Q1 2020 is expected to produce solid profitability and excellent cash flow. With the company’s healthy cash position, complemented by our popular GM-X platform and strong ongoing relationships with some of the gaming industry’s key players, Golden Matrix is now in an excellent position to consider opportunities for corporate expansion. As a result, we are pursuing several timely options and will keep our shareholders advised of developments as they occur.” Golden Matrix revenues are derived primarily from licensing fees received from gaming operators located in the Asia Pacific (APAC) region and integrated with the company’s state-of-the-art GM-X platform. Currently there are over 300 active operators and more than 1.5 million registered users across all gaming operator/GM-X platforms. Mr. Goodman added, “The excitement among active users for our reently introduced proprietary games has exceeded our expectations and will provide a significant boost to overall revenues and profits in fiscal 2020. We are confident that their growing popularity will lead to their rapid adoption by many additional operators in the robust APAC gaming markets.” About Golden Matrix |