Golden Matrix Group (NASDAQ: GMGI) has announced the restart of its previously announced share repurchase program, with approximately $4.958 million available for buybacks. This decision comes as the stock has experienced a 20.63% decline over the past month.

The Las Vegas-based gaming platform developer currently has 129,242,993 shares outstanding, with 85% held by company insiders. At the current stock price of around $2, the buyback could potentially reduce outstanding shares by nearly 2.5 million.

The company's strong financial position includes:

• $38.4 million in cash reserves
• $17.5 million in long-term debt
• Market capitalization of $255.23 million

CEO Brian Goodman reports that all operating units are performing at or above expectations, with strong growth projected for the current quarter. Through its B2B division, Golden Matrix develops and licenses gaming platforms, while its Meridianbet unit provides sports wagering services across 18 jurisdictions.

Recent expansion initiatives include:

• Pursuing gaming licenses in Brazil and Ontario, Canada
• Third-quarter results showing 85% profit growth
• 39% increase in sales

The Brazilian market entry is particularly significant, as Goodman notes it represents "a transformative opportunity" in one of the world's fastest-growing gaming markets.

The company maintains flexibility in its buyback program, which will be executed through open market purchases, with the board retaining discretion to modify or suspend the plan as needed.

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