- Legal States
Yasmin Moore March 18, 2022 3 min read
Golden Matrix Group’s Stock Is Now Live on the Nasdaq Capital Market
Golden Matrix Group, a leading provider of turnkey and white label gaming platforms, esports technology, and gaming content, has begun trading on the US Nasdaq Capital Market. As of yesterday, March 17, the company’s common stock has been available for purchase.
Golden Matrix Goes Live on the Nasdaq
This news comes in the wake of Golden Matrix’s announcement last week, which confirmed it was approved for Nasdaq trading. The company’s shares are now live on the Nasdaq market under the tag GMGI.
According to Brian Goodman, the chief executive officer of Golden Matrix, this move was crucial to the provider’s strategy for growth. He asserted that this will become a stepping stone towards the global expansion envisioned by the company.
To justify his claim, Goodman emphasized the importance of uplisting to Golden Matrix’s visibility. He pointed out that this will help the supplier broaden its base of both retail and institutional stakeholders and subsequently improve the company’s long-term shareholder value.
Goodman added that Golden Matrix Group’s Nasdaq listing will make it possible to execute the company’s M&A plans. He looks forward to growing the supplier’s revenues and keep expanding the business.
The Company’s Growth Came Thanks to Its Clever Strategy
Golden Matrix Group has been enjoying steady growth. In early March, the provider posted its Q1 quarterly revenue for the period between November 2021 and January 2022, demonstrating a tremendous year-on-year increase in profits. Golden Matrix had earned $8.6 million within that time frame, which represents a 345% increase compared to the same period from the previous fiscal year.
The acquisition of the British brand RKings in November 2021 is regarded as the biggest contributor to the supplier’s impressive revenue growth.
Furthermore, the last few years have seen Golden Matrix busy signing numerous strategic partnership deals with various companies within the iGaming industry. Two years ago, the company reaffirmed its commitment to the esports betting sector by inking a key esports distribution partnership with the acclaimed gambling technology company Playtech.
The agreement allowed the latter company to distribute Golden Matrix’s suite of esports peer-to-peer games. The two parties shared the same vision and worked together on expanding their respective businesses across the globe.
Last year, Golden Matrix joined forces with the iGaming technology company Amelco. The deal saw Amelco power Golden Matrix’s unprecedented custom-built online sportsbook which launched in India right on time for the Indian Premier League cricket season.