LAS VEGAS, NV, Nov. 4, 2022 (GLOBE NEWSWIRE) — via NewMediaWire – Golden Matrix Group Inc. (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems and gaming content, announced today that it has acquired the remaining 20% ​​interest in RKings Competitions for a total of 165,444 restricted common shares from GMGI, which will be sold to the two former owners of RKings.

“Obviously,” said Brian Goodman, Golden Matrix CEO, “we are pleased to now have this exciting and successful B2C business as a wholly owned entity; it is highly scalable and expected to grow rapidly in multiple regulated jurisdictions. In addition to the UK, we expect the RKings tournament platform to be popular and well received by participants in Mexico, where it is already allowed to operate, and we believe it can expand to other Latin American markets over the next few years.”

Mr Goodman also said the company recently launched a complementary business, GMGI Assets, which will serve to increase the revenue stream and profit generated by the RKings division. “As an example, and in some cases, the tournament winner of an expensive car may choose to take a pre-determined cash option in lieu of the car. If this occurs, GMGI Assets will take possession of the car and resell it. Every transaction has a built in positive margin and we expect this deal to make a significant contribution to GMGI’s overall financial results as the number of auto tournaments offered continues to grow in the UK and in other jurisdictions in the future.”

Golden Matrix Group, based in Las Vegas NV, is an established gaming technology company that develops and owns online gaming IP and builds white-label, configurable and scalable B2B gaming platforms for its international customers, primarily located in the Asia-Pacific region room. Gaming IP includes tools for marketing, acquisition, retention and monetization of users. The company’s platform can be accessed…