Golden Matrix Group Inc. (GMGI), one of the flagship global iGaming groups, which offers sportsbook, casino and competition products and is based in Las Vegas, revealed revenue data for its third quarter ended July 31, 2023, where it was shown that it achieved income of $11.3 million, up 24.2% year-over-year, according to the Nasdaq news.
Net loss:
However, beside revenue, the company’s Adjusted EBITDA was $161,783, a dramatic drop of 83% compared to the same period in 2022 when it was $1 million. The primary reason for this big fall was the firm’s net loss of $965,628, which compared to the net profit of $628,332 for 2022 represents a b…