Golden Matrix Group, Inc. (GMGI) Market Cap
Golden Matrix Group, Inc. has a market capitalization of $8.1M.
Financials based on reported quarter end 2025-12-31
Price: $0.64
▲ 0.06 (9.86%)
Market Cap: 8.05M
NASDAQ · time unavailable
CEO: William Scott
Sector: Technology
Industry: Electronic Gaming & Multimedia
IPO Date: 2009-10-30
Website: https://www.goldenmatrix.com
Golden Matrix Group, Inc. (GMGI) - Company Information
Market Cap: 8.05M · Sector: Technology
Golden Matrix Group, Inc. provides enterprise software-as-a-service solutions for online casino and sports betting operators. The company develops and owns online gaming intellectual property; and builds gaming platforms for customers located primarily in the Asia Pacific region and Europe. Its platform facilitates gaming customers in operating online casinos, sportsbooks, lottery, and live games; and provides customers with access to a portfolio of licensed gaming content, which are provided by gaming content providers. The company also provides services and resells third party gaming content to licensed online gaming distributors. Its platform is accessed through desktop and mobile applications. The company was formerly known as Source Gold Corp. and changed its name to Golden Matrix Group, Inc. in April 2016. Golden Matrix Group, Inc. was incorporated in 2008 and is based in Las Vegas, Nevada.
Analyst Sentiment
Based on 1 ratings
Analyst 1Y Forecast: $21.60
Average target (based on 2 sources)
Consensus Price Target
Low
$22
Median
$22
High
$22
Average
$22
Potential Upside: 3289.8%
Price & Moving Averages
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Fundamentals Overview
So What? Q3 shows GMGI accelerating on topline and margins: revenue +85% YoY to $41M and GMAG gross margin up +150 bps to 26.2%. The biggest “real” operational hurdles called out were not macro—management pointed to integration/one-off costs and an RKings customer acquisition channel disruption that marginally hurt Q3 but was “overcome,” with October revenues +11.1% vs September and a confident Q4 “records” stance. Analyst-style candor is limited because the transcript contains no visible Q&A; there are no question-specific answers, no bps/tariff/macro mitigation details, and no formal guidance numbers beyond directional Q4 optimism. Still, the management tone is constructive (“one-off costs behind us,” cost efficiencies underway, Atlas rollout continuing), while the explicit headwinds suggest near-term execution sensitivity around customer acquisition channels and integration workload.
Growth Catalysts
- GMAG Crash game category expansion driving wagering and active players (wagering +84% YoY to $1.4B; YTD wagering +115% to $3.6B)
- Classics for a Cause acquisition contributing revenue/profit in first two months ($2.1M revenues, $503k EBITDA, $253k profit for Aug 1–Sept 30 period)
- RKings UK tournament business recovery after a customer acquisition channel issue and improved October trajectory (October revenue +11.1% vs September)
- Merdianbet online casino growth driven by adding 1,500+ new games (turnover +21% YoY to $356.4M; gross gaming revenue +26% YoY)
Business Development
- Classics for a Cause acquisition finalized (acquired Aug 1, 2024)
- Expanse Studio (Merdianbet in-house) integrated 600 additional games
- Merdianbet transitioned over 80% of core operations to Atlas (fifth generation platform)
- Expanse Studio added 150+ new partners and expanded to 50 proprietary games
- Brazil licensing: Meridian Gaming Brazil selected among 89 companies at federal level for remaining phases through end of 2024
Financial Highlights
- Consolidated revenue +85% YoY to $41.0M (Q3); YTD revenue +55% to $105M
- Consolidated gross profit +39% YoY to $22.4M (Q3); YTD gross profit +24% to $61.8M
- Third-quarter adjusted EBITDA: $4.3M
- GMAG gross profit margin improved to 26.2% vs 24.7% in Q2 2024 (+150 bps)
- Merdianbet overall Q3 revenue +16% YoY; deposits +13% to $61.9M vs Q2 2024; new online registrations +23% YoY to 125,000
- Merdianbet online casino gross gaming revenue margin improved to 3.37% vs 2.22% in Q3 2023
- Merdianbet sports: online GGR margin 9.5% vs 8.1% in Q3 2023
- Retail sports GGR margin 10.3%; August retail sports GGR margin record 14.1%
Capital Funding
- Cash and equivalents as of Sept 30, 2024: $38.4M
- Short-term debt as of Sept 30, 2024: $17.5M
- Shareholder equity: $94M (+60%)
Strategy & Ops
- Post-acquisition efficiency: management says Merdianbet consolidation + Classics for a Cause integration one-off costs are now behind them
- Cost efficiencies / cost rationalization: reducing redundancies and pursuing product synergies
- Sales & marketing optimization: broader distribution and tighter cost controls
- Operational platform shift: Atlas rollout over 80% of core operations; preparations for full deployment in Brazil underway
- AI personalization tools deployed (two tools): AI Casino Recommender and AI Bet recommender, with reported engagement/interaction lift
- AI tool outcomes: >10% increase in engagement with recommended casino games; 9% boost in interactions with new game titles
Market Outlook
- Management reiterated a strong start to Q4 and “on track to set new records”
- RKings: expected strong Q4 performance and “continued strong Q4 growth”; management expects RKings to make a substantial contribution to profits and revenues in Q4
Risks & Headwinds
- RKings UK tournament business faced a “brief challenge” with one customer acquisition channel, which “marginally impacted” Q3 performance; management states hurdle is overcome but the issue is an explicit operational risk point
- Q3 included “residual one off costs” related to Merdianbet consolidation and Classics for a Cause acquisition/integration
- Sports betting outcomes were “challenging” in July and September (no quantitative impact provided)
Sentiment: MIXED
Note: This summary was synthesized by AI from the GMGI Q3 2024 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.