Golden Matrix reports Q3 EPS (3c) vs. 2c last year

Reports Q3 revenues $11.3M vs. $9.1M last year. Golden Matrix CEO Brian Goodman, said that he is pleased with the Company’s overall performance, stating: “We have continued the year with strong momentum and delivered solid results. The Company achieved record revenues and posted its 7th consecutive quarter with positive cash flow from operations. “With respect to the reported net loss of $965,628, profitability in Q3 was impacted by several factors, including a significant increase in one-off legal and due-diligence expenses associated with the anticipated acquisition of the MeridianBet Group, as well as the start-up marketing costs related to the roll-out of Mexplay, the Company’s B2C online casino in Mexico. We have made important investments during the quarter in systems and people to accelerate the growth of our B2C segments, both RKings and Mexplay,” said Mr. Goodman, who continued, “At the same time, there was significant progress in seeking to secure the financing required to close, and working towards closing, the pending acquisition of the MeridianBet Group and its related companies. “Upon the successful acquisition of MeridianBet, the combined enterprise is expected to be generating multiple streams of gaming revenue and profit in regulated jurisdictions worldwide, and offering highly popular best-in-class products, including casino games and sports betting. Closing of the MeridianBet acquisition will be a watershed event which is expected to catapult Golden Matrix into the global gaming markets as a highly competitive participant.”