iGaming Legalized in Ontario, Golden Matrix Group Inc. (NASDAQ: GMGI) Positioned to Benefit from Relaxed Legislation

  • Canadian province of Ontario recently legalized iGaming, other provinces expected to follow
  • iGaming industry expected to reach 153.6 billion by 2030 at CAGR of 11.7% from 2022 to 2030
  • GMGI offers highly modular, turnkey, and white label gaming solutions for growing B2B customer base
  • Recently released financial results reveal 15 consecutive profitable quarters, 221% Q2-2022 growth

The province of Ontario in Canada has recently joined South Africa, Japan, and many European Union countries in legalizing iGaming (https://ibn.fm/65kyx). Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems, and gaming content, is positioned to benefit from relaxed legislation that is expected to grow the global iGaming industry.

Ontario first legalized online gambling in April 2022, granting iGaming Ontario – a subsidiary of the Alcohol and Gaming Commission of Ontario – the authority to regulate policy, monitor iGaming sites, and grant licenses to prospective operators looking to set up in the province. As a result, other Canadian jurisdictions are eyeing Ontario’s iGaming market with plans to follow the province’s lead. “I do believe that they will implement some of the things that work and… create their own respective provincial frameworks,” said Jared Beber, CEO of Sports Venture Holdings Inc., the parent company of subsidiaries that run Bet99.com (https://ibn.fm/LT9IF). “And we intend to be right there, obtaining that respective license as it becomes available.”

Ontario is following a worldwide trend as other countries have either legalized or relaxed iGaming legislation. As a result, analysts at Grandview Research expect the industry to reach 153.6 billion by 2030 at a CAGR of 11.7% from 2022 to 2030 (https://ibn.fm/krrb4). Increased regulation is also expected to attract more users as governing bodies grant licenses, monitor existing websites, and impose fines on operators that violate rules and defraud customers. 

Golden Matrix is up to standard with industry trends and technological innovation. The company offers highly modular, turnkey, and white label gaming platforms that can be easily customized by emerging iGaming operators. Compatible with all major browsers, operating systems, and devices, GMGI’s solutions maximize value by integrating AI-powered tools that collect customer data to optimize user monetization. “We provide the tools that change their world,” said Golden Matrix CEO Brian Goodman in a recent interview (https://ibn.fm/ecPMm). “Our products provide these tools: artificial intelligence, loyalty tools, bonuses, and free spins.”

“What happens is that you use these tools to determine what the player skill levels are, how long they spend in the casino, and what they like to play. All of these items or pieces of marketing that we provide in our system are critical to survival.”  

GMGI’s AI-enhanced software is built into their GM-X Turnkey, GM-X White Label, and GM-X Direct Integration solutions. The company’s financial results emphasize the success of its strategy with 15 consecutive profitable quarters and 221% growth in Q2-2022 (https://ibn.fm/AR3OD). “We are pleased with the financial results of our second quarter as a company with both B2B and B2C verticals,” said Goodman. “We expect this to be a strong third quarter in terms of revenues and profits, the recently acquired RKings Competitions is performing extremely well.”  

Golden Matrix Group is the leading provider of turnkey and white label iGaming platforms, Esports technology, and gaming content. As the demand for flexible, highly modular, configurable, and scalable AI-powered gaming platforms continues to grow, GMGI is adequately positioned to offer its partners a distinct competitive advantage with AI-enhanced tools that maximize their return on investment. 

For more information, visit the company’s website at www.GoldenMatrix.com

NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI

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