Golden Matrix Group Inc to Launch Online Casino in Mexico on November 1st
On October 24, 2022, Golden Matrix Group Inc. (NASDAQ: GMGI) announced the launch of its proprietary B2C online casino, MEXPLAY, in Mexico on November 1, 2022. MEXPLAY will feature an extensive number of table games and slots, as well as a sportsbook, and provide tournament competition prizes similar to those offered by the company’s RKings subsidiary in Great Britain.
The launch of MEXPLAY fulfills the first objective of GMGI’s strategy to expand its B2C business in Latin America (LATAM). According to iGamingBusiness, LATAM is the “most enticing market for the gambling industry.” According to Statista, gross gaming revenue (GGR) of the LATAM betting market is estimated to grow from roughly 1.3 billion USD in 2020 to 3.4 billion USD by 2025.
Brian Goodman, CEO of Golden Matrix, says: “The recently acquired B2C operations of RKings now account for over 50% of our revenues and over 50% of our profits; similarly, we now expect important contributions to revenue and profit growth from our operations in Mexico. While MEXPLAY offers many traditional and popular online casino games and a sportsbook, it also incorporates the added excitement of the tournament business, which is unique to Mexican gaming and should attract considerable player interest and participation.”
The company is confident that Mexico is just the beginning of their expansion plans for the LATAM market. Goodman adds: “Following the successful launch of the Mexican casino, the company will focus on entering additional LATAM markets where gaming is regulated.”
Golden Matrix Group, based in Las Vegas, NV, is an established gaming technology company that develops and owns online gaming IP and builds configurable and scalable white-label B2B gaming platforms for its international customers, located primarily in Asia Pacific. The gaming IP includes tools for marketing, acquisition, retention, and monetization of users.
The Company’s platform can be accessed through both desktop and mobile applications. As a result of its 80 percent controlling ownership interest in UK-based RKings Competitions Ltd., Golden Matrix also generates revenues from RKings’ scalable B2C tournament platform.
Golden Matrix Group aims to continue to expand its operations and grow its market reach, all while keeping in mind the potential risks and uncertainties that may arise due to the impact of the COVID-19 pandemic, the need for additional financing, the ability of the Company to manage growth, the ability to maintain the listing of its common stock on the Nasdaq Capital Market, and more.