Golden Matrix generates revenue of $44m+ for 2023 fiscal year

November 21, 2023

The developer reported a fiscal year revenue increase of 22%, up from $36m in 2022.

Supplier Golden Matrix has revealed its revenue for the fiscal year 2023. The company, which creates, licenses and operates platforms, systems and games, made revenue of over $44m, which from the company's fiscal 2022 earnings of $36m is an increase of more than roughly 22%. 

According to Golden Matrix and based on preliminary estimates, it has also broken its Q4 revenue record, estimating a revenue of $11.7m.  

Golden Matrix has had several notable developments in 2023. Examples include its acquisition of MeridianBet Group, with reports in October stating that an amended version of the acquisition was pending. The company operates in territories including Europe, LatAm and Africa, and has been in operation for over 20 years.  

On the acquisition, Golden Matrix Group CEO Brian Goodman said, “We look forward to the closing of this strategic acquisition. 

“We believe the combined enterprise will be a highly competitive participant in gaming markets worldwide, offering casino games, sports betting and tournament competitions in multiple jurisdictions.” 

Goodman also stated that preliminary estimates show that the company is also on track to deliver a positive cash flow. These estimates suggest that cash-on-hand at the end of fiscal 2023 will be up 14% from fiscal 2022; however, these results are not conclusive.  

Further financial results for this fiscal year, which concluded October 31, will be available in Golden Matrix Group’s Annual Report on Form 10-K filing.  

On this fiscal year's results, Goodman said, “We are extremely pleased with the consistent progress made during this past year.”  


Product Spotlight

Bragg Gaming Group

Bragg Gaming Group is a global content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content and cutting-edge technology.

John Connelly - Interblock preparing to launch online by the end of year

John Connelly, the Global CEO of Interblock, joins the Huddle to talk about:
- The company's conversion to the online space
- The performance of ETGs
- Interblock's new philanthropic efforts
- The trend of companies going private
- And more!

Michael Hershman - Dispelling casino 'myths:' New York needs to lose fear of the unknown

Michael Hershman, CEO of the Soloviev Group, joins Tim Poole on the Huddle to put forward his case that the Freedom Plaza is the way to go for one of New York's casino licences. He fields a variety of questions - not shying away from any of them - on why 'myths' about casinos and a fear of the unknown should be dispelled, as well as acknowledging the strength of rival bids and discussing opposition to the project.

As the Tribal gaming sector congregates once more in the Golden State, is it too cliché of me to suggest we are heading for a golden era of Tribal gaming? With the industry set to meet at the Indian Gaming Association t...

From The Top: Will youth be served by Sports Betting?
Two recent interviews in our Huddle podcast revealed to Las Vegas correspondent Brian Joseph just how young sports betting entrepreneurs are becoming.
The Global Gaming Awards: Rewarding Excellence
The 10th edition of the Global Gaming Awards took place in Las Vegas last year. Gaming America looks back... and ahead to this year's.
Preview: Indian Gaming Tradeshow & Convention
Gaming America looks ahead to the 2024 Indian Gaming Tradeshow & Convention and what attendees can expect when they arrive at the Anaheim Convention Centre.
888 and the US Market: A cautionary tale
Gaming America explores the risk of resting on your laurels and the challenge of remaining relevant in a rapidly expanding market.