Igaming and sports betting tech provider Golden Matrix Group will buy back up to $5 million of the company’s common stock.

“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,” CEO Anthony Brian Goodman said in a press release.

Through a stock repurchase program, the company can buy stock from the open market or make acquisitions through other means that are within federal securities laws. The repurchase program will run until July 15, or until $5 million has been bought.

The Las Vegas company is traded on the New York Stock Exchange and provides igaming and sports betting platforms and technology globally. It also operates customer-facing brands like MeridianBet, which it acquired in January 2023.

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