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WA.Technology appoints Waldir Marques as Director of Regulatory Affairs

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WA.Technology, a leading B2B iGaming solutions provider, is thrilled to announce the appointment of Waldir Marques as its new Director of Regulatory Affairs—this key addition to WA.Technology’s leadership team fortifies the company, particularly in light of recent regulatory changes in Brazil.

Waldir Marques, the former CEO of the government-backed lottery syndicate CAIXA Loterias S.A., brings a wealth of experience and an outstanding track record in iGaming regulation. His high-profile role at Brazil’s CAIXA Loterias S.A., a company renowned for its commitment to ethics, integrity, and transparency, has honed his skills in ensuring strict adherence to regulatory requirements – a crucial asset for WA.Technology’s operations. Waldir’s insights and expertise will be invaluable in bringing credible and knowledgeable advice to clients, opening the door for bigger and better opportunities in a legally compliant way.

“With the latest regulatory developments in Brazil, Waldir’s profound understanding of the legal landscape will be instrumental in guiding our expansion efforts in the country and the wider Latam market,” said Tim Scoffham, CEO of WA.Technology. “His appointment proves our commitment to operating within legal compliance, ensuring our clients receive exceptional service and the peace of mind that comes with rigorous regulatory adherence.”

Waldir’s curriculum vitae is a testament to his breadth of knowledge and experience in the field. His roles as Director-President & CEO at CAIXA Loterias S.A. and  Subsecretary of Regulation of Lotteries, Prizes and Sweepstakes at the Ministry of Economy, Brazil, highlight his capabilities in navigating the regulatory environment of the Brazilian market and beyond. His team leadership and governance skills further solidify his fit for this pivotal role.

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“I am excited to start this new chapter with WA.Technology and contribute to its growth in the Latam region,” said Waldir Marques. “Ensuring compliance and fostering a trustworthy environment for our clients is my top priority. I look forward to helping to steer the company through the evolving regulatory landscape, particularly in Brazil, in light of the ongoing changes. I’m also looking forward to taking on the challenge of bettering WA.Technology’s advancement in the broader South American market as the company branches out into other markets such as Mexico.”

Waldir Marques will be part of the WA.Technology team at ICE London 2024 and will be available at the WA.Technology stand S4-240. His presence at such a prominent event underscores WA.Technology’s commitment to expanding its reach and expertise in the flourishing Latam market.

This appointment marks a significant stride for WA.Technology in fortifying its position in Latam. WA.Technology is dedicated to upholding the highest standards of regulatory compliance and client service, and the addition of Waldir Marques to its leadership team signifies its commitment to excellence, integrity, and growth in the region.

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Axel Antillon

WA.Technology Expands in Latin America with Latam Entertainment Partnership

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WA.Technology, a key player in the Latin American iGaming market, is proud to announce a strategic partnership with Latam Entertainment, a distinguished Consulting and Advisory company for the Gaming Industry.

This collaboration further expands WA.Technology’s leadership in Latam’s iGaming sector, particularly in its planned entry into the Mexican market, solidifying its strong position in Latam.

The partnership highlights WA.Technology’s commitment to the region and will unlock significant projects with major brands, such as current established clients PixBet, F12, Headsbet, Toisbet, FazOBetAí, and PixBet.tv.

Axel Antillon, Director Comercial of Latam Entertainment, shared his views on the partnership: “The entire team at Latam Entertainment is very excited about this partnership. We see this new alliance as an outstanding collaboration due to the enormous potential of taking the WA.Technology products and brands to new levels within Mexico and other Latam markets. Our mission is to guide businesses to success with a comprehensive portfolio of services. Latam Entertainment is a crucial ally in navigating the landscape of diverse Latin American markets.

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The collaboration between WA.Technology and Latam Entertainment is founded on shared values of creative development, a commitment to quality, and a deep understanding of the iGaming landscape in Latam.

This partnership will leverage Latam Entertainment’s extensive knowledge and WA.Technology’s cutting-edge WA.Platform solutions, bespoke products, and expert-managed services, unified for producing the ultimate tailor-made Latin American iGaming experience, reinforced with localised support and expertise.

Our collaboration with Latam Entertainment will significantly strengthen WA.Technology’s healthy position in Latin America. This robust partnership will pave the way for an enhanced provision that will not only provide market-driven localised solutions that support increased revenue for operators but also elevate capabilities for first-rate player engagement and experiences. We’re excited to combine both teams’ expertise to augment the iGaming experience in this fast-growing emerging market,” commented Tim Scoffham, CEO of WA.Technology.

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Brian Goodman

Golden Matrix Reports Fiscal 2023 Financial Results With Record Revenues of $44.2 Million

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Golden Matrix Group Inc. (NASDAQ:GMGI)(the “Company”, “Golden Matrix” or “GMGI”), a developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, today reported financial results for its fiscal year ended October 31, 2023, including:

  •  Full-year record revenues of $44.2 million, an increase of 23% on revenues of $36 million in the comparable 12-month period ended October 31, 2022; includes record revenues of $11.8 million in the fourth fiscal quarter of 2023.
  • Net loss of $1.17 million with Adjusted EBITDA of $2.4 million* in fiscal 2023.
  • Cash and cash equivalents of $17.1 million and total assets of $35.6 million as of October 31, 2023.
  • Current liabilities of $4.48 million and no long-term liabilities as of October 31, 2023.
  • GMGI shareholders’ equity increased to $31.1 million as of 2023.
  • Current gaming operators and registered user numbers of 785 and 8.2 million, respectively, in business-to-business (B2B) traditional business.
  • Business-to-consumer (B2C) segments – RKingsCompetitions Ltd. (RKings) and Mexplay – now have over 325,000 and 61,000 registered users, respectively.
  • Management expects the acquisition of the MeridianBet Group to close during the first calendar quarter of 2024.

Revenue contributions in fiscal 2023 from GMGI’s B2B and B2C segments were $15.63 million and $28.54 million, respectively.

The net loss in fiscal 2023 was due primarily to general and administrative non-cash expenses of $2.45 million for stock-based compensation, an increase in income tax expenses of $264,257, an increase in Mexplay operation costs of $497,278, an increase in consulting fees of $296,771, and a decrease in foreign exchange gain of $269,196.

“Year after year, we continue to achieve significant improvements in revenue,” said Golden Matrix CEO Brian Goodman, who continued, “this solid momentum has delivered four consecutive years of revenue growth and shareholders’ equity increases. GMGI’s success in the past financial year was driven by our diversified portfolio, spanning B2B and B2C, in some of the fast-growing online gaming markets around the world.”

“Additionally, we further strengthened our Mexplay B2C online casino operation in Mexico,” said Mr. Goodman.

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“We believe that the results delivered over the last financial year demonstrate the ongoing resilience, competitiveness and diversification of our portfolio, IP and the sound fundamentals in the markets in which we operate,” stated Mr. Goodman.

“Increased costs incurred and investments made in our B2B and B2C platforms this past year have been critical to keeping us competitive and accelerating strong revenue growth. Our state-of-the-art gaming systems and superior gaming content continue to evolve to engage and increase our growing numbers of millions of participants,” said Mr. Goodman.

Mr. Goodman said the acquisition of the MeridianBet Group “is expected to significantly advance GMGI’s global footprint, and significantly increase revenues and profitability. There will be numerous B2B and B2C product offerings in multiple regions worldwide, and we believe that the combined company will be in a favorable position to participate in the online gambling markets in both the U.S. and Canada.”

Selective amounts stated above are rounded to the nearest $100,000, please see the Company’s Annual Report on Form 10-K for exact numbers.

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