Golden Matrix (NASDAQ: GMGI), an international developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, announced that its board of directors has authorized a stock repurchase program. The program, which is subject to any future extension identified by the board, outlines the repurchase of up to $5 million shares of the company’s common stock. The repurchase program was slated to expire on July 15, 2025, when a maximum of $5 million of the company’s common stock had been repurchased, or when it is discontinued by the board. The program is expected to be funded using the company’s working capital. “We believe the repurchase program may provide numerous benefits to the company and its stockholders, including, among others, possibly help counteract the short interest in the company’s common stock, mitigation of overhang on the market for the company’s common stock, attractive use of the company’s capital to repurchase shares at current prices, a more tax-efficient way of returning capital to shareholders compared to declaring cash dividends and accretion to earnings per share,” said Golden Matrix CEO Anthony Brian Goodman in the press release.
To view the full press release, visit https://ibn.fm/VYo7E
About Golden Matrix Group Inc.
Golden Matrix Group, based in Las Vegas, Nevada, is an established business-to-business (“B2B”) and business-to-consumer (“B2C”) gaming technology company operating globally across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients. Its B2C division, RKings, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The company also owns and operates MEXPLAY, a regulated online casino in Mexico. Founded in 2001, the MeridianBet Group is a well-established online sports betting and gaming group, licensed and currently operating in 15 jurisdictions across Europe, Africa and South America. The MeridianBet Group’s successful business model utilizes proprietary technology and scalable systems, thus allowing it to operate in multiple countries and currencies and with an omnichannel approach to markets, including retail, desktop online and mobile. The company’s sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current U.S. law. For more information about the company, visit 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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