Golden Matrix Group included in the Russell 3000 Index

June 6, 2024
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The company said this achievement is a significant milestone.

Meridian Gaming has announced that Golden Matrix Group (GMGI) recently joined the Russell 3000 Index. The company said this move 'underscores the company’s established market presence and growth trajectory.'

The company said in a statement, 'This inclusion can lead to increased liquidity, greater investor interest and overall market recognition, providing substantial benefits to both the company and its shareholders.

'Golden Matrix remains focused on executing its growth strategy, leveraging the strengths of both entities to drive innovation and deliver value to shareholders. The company's solid financial performance and recognition in the Russell 3000 Index reinforce its commitment to long-term growth and shareholder value.'

Company CEO Brian Goodman went on to describe the achievement as a milestone for Golden Matrix.

He commented, “We are honored to join the Russell 3000 Index.

“This milestone reflects our strong market presence and growth potential, positioning us for continued success and greater visibility within the investment community.”

Golden Matrix serves as a licensor, developer and global operator in both the eCommerce and online gaming platforms.

During the previous fiscal year, the company posted $44.2m in revenue, the highest full-year revenue in Golden Matrix history.

Yearly revenue for 2023 reflected a nearly $8m increase when compared to results from the previous year.

However, Golden Matrix posted a net loss in 2023 of nearly $1.2m. The company said that the net loss result during the year resulted from “general and administrative non-cash expenses of $2.45 million for stock-based compensation” as well as due to a rise in income tax expenses.

EBITDA for 2023 reached $2.4m, while the company reported cash and cash equivalents of $17.1m and $35.6m in total assets.


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