Golden Matrix Group’s Division Meridianbet Expands Sports Wagering Product Suite
Golden Matrix Group (NASDAQ: GMGI) has announced a significant expansion of its subsidiary Meridianbet's sports wagering product suite. The expansion introduces approximately 170 new games with over 2,000 additional betting selections per match, powered by GMGI's proprietary software. The new offering includes five game groups for each match: Players, Special, Corners, Cards, and Time Games.
This strategic move aims to broaden market appeal, increase user engagement, revenue streams, and market share in respective jurisdictions. The expanded Meridian Special is now available for major European and global soccer leagues worldwide. GMGI's CEO, Brian Goodman, emphasized that this expansion represents a significant milestone in their product development strategy and demonstrates the flexibility of their proprietary technology stack.
Golden Matrix Group (NASDAQ: GMGI) ha annunciato una significativa espansione della suite di prodotti per le scommesse sportive della sua controllata Meridianbet. L'espansione introduce circa 170 nuovi giochi con oltre 2.000 ulteriori selezioni di scommessa per ogni partita, alimentate dal software proprietario di GMGI. La nuova offerta include cinque gruppi di giochi per ogni partita: Giocatori, Speciali, Calci d'Angolo, Cartellini e Giochi di Tempo.
Questa mossa strategica mira a ampliare l'appeal del mercato, aumentare il coinvolgimento degli utenti, le fonti di entrate e la quota di mercato nelle rispettive giurisdizioni. Il Meridian Special espanso è ora disponibile per le principali leghe di calcio europee e globali in tutto il mondo. Il CEO di GMGI, Brian Goodman, ha sottolineato che questa espansione rappresenta una tappa significativa nella loro strategia di sviluppo del prodotto e dimostra la flessibilità della loro tecnologia proprietaria.
Golden Matrix Group (NASDAQ: GMGI) ha anunciado una expansión significativa de la suite de productos de apuestas deportivas de su filial Meridianbet. La expansión introduce aproximadamente 170 nuevos juegos con más de 2.000 selecciones adicionales de apuestas por partido, impulsadas por el software patentado de GMGI. La nueva oferta incluye cinco grupos de juegos para cada partido: Jugadores, Especial, Esquinas, Tarjetas y Juegos de Tiempo.
Este movimiento estratégico tiene como objetivo ampliar el atractivo del mercado, aumentar la participación de los usuarios, las fuentes de ingresos y la cuota de mercado en las jurisdicciones respectivas. El Meridian Special expandido ya está disponible para las principales ligas de fútbol europeas y globales en todo el mundo. El CEO de GMGI, Brian Goodman, destacó que esta expansión representa un hito significativo en su estrategia de desarrollo de productos y demuestra la flexibilidad de su tecnología patentada.
골든 매트릭스 그룹(Golden Matrix Group, NASDAQ: GMGI)은 자회사인 메리디안벳(Meridianbet)의 스포츠 베팅 제품군을 크게 확장한다고 발표했습니다. 이번 확장은 GMGI의 독점 소프트웨어로 구동되는 약 170개의 새로운 게임과 각 매치당 2,000개 이상의 추가 베팅 선택을 포함합니다. 새로운 제공에는 각 경기마다 다섯 개의 게임 그룹이 포함됩니다: 선수, 스페셜, 코너, 카드 및 시간 게임.
이번 전략적 움직임은 시장 매력도를 넓히고 사용자 참여, 수익원 및 시장 점유율을 증가시키려는 목표를 가지고 있습니다. 확장된 메리디안 스페셜은 이제 전 세계 주요 유럽 및 글로벌 축구 리그에서 이용 가능합니다. GMGI의 CEO인 브라이언 굿맨은 이번 확장이 제품 개발 전략에서 중요한 이정표를 나타내며 그들의 독점 기술 스택의 유연성을 보여준다고 강조했습니다.
Golden Matrix Group (NASDAQ: GMGI) a annoncé une expansion significative de la gamme de produits de paris sportifs de sa filiale Meridianbet. Cette expansion introduit environ 170 nouveaux jeux avec plus de 2.000 options de paris supplémentaires par match, propulsées par le logiciel propriétaire de GMGI. La nouvelle offre comprend cinq groupes de jeux pour chaque match : Joueurs, Spéciaux, Corners, Cartes et Jeux de Temps.
Cette initiative stratégique vise à élargir l'attractivité du marché, augmenter l'engagement des utilisateurs, les sources de revenus et la part de marché dans les juridictions respectives. Le Meridian Special élargi est désormais disponible pour les principales ligues de football européennes et mondiales. Le PDG de GMGI, Brian Goodman, a souligné que cette expansion représente une étape importante dans leur stratégie de développement de produits et démontre la flexibilité de leur pile technologique propriétaire.
Die Golden Matrix Group (NASDAQ: GMGI) hat eine bedeutende Erweiterung der Produktauswahl für Sportwetten ihrer Tochtergesellschaft Meridianbet angekündigt. Die Erweiterung umfasst ungefähr 170 neue Spiele mit über 2.000 zusätzlichen Wettmöglichkeiten pro Match, betrieben durch die hauseigene Software von GMGI. Das neue Angebot umfasst fünf Spielgruppen für jedes Match: Spieler, Spezial, Ecken, Karten und Zeitspiele.
Dieser strategische Schritt zielt darauf ab, die Marktattraktivität zu erhöhen, die Benutzerbindung, die Einnahmequellen und den Marktanteil in den jeweiligen Jurisdiktionen zu steigern. Das erweiterte Meridian Special ist nun weltweit für die wichtigsten europäischen und globalen Fußballliga verfügbar. Der CEO von GMGI, Brian Goodman, betonte, dass diese Erweiterung einen bedeutenden Meilenstein in ihrer Produktentwicklungstrategie darstellt und die Flexibilität ihres proprietären Technologiestacks demonstriert.
- Introduction of 170 new games with over 2,000 additional betting selections per match
- Expansion of product lineup potentially leading to increased user engagement and higher betting volumes
- Demonstration of proprietary software capabilities and technological agility
- Availability of expanded offering for major European and global soccer leagues
- None.
Insights
The expansion of Meridianbet's sports wagering product suite is a strategic move that could significantly impact GMGI's market position. By introducing approximately 170 new games with over 2,000 additional betting selections per match, the company is diversifying its offering and potentially increasing user engagement.
This expansion covers major European and global soccer leagues, which are high-value markets in the sports betting industry. The introduction of five new game groups (Players, Special, Corners, Cards and Time Games) for each match demonstrates a comprehensive approach to capturing various betting preferences.
From an investor's perspective, this move could lead to:
- Increased user retention and lifetime value
- Higher betting volumes and revenue streams
- Improved competitiveness in the online gaming sector
- Potential for market share growth in key jurisdictions
However, the impact on GMGI's financial performance will depend on user adoption rates and the ability to effectively monetize these new offerings. Investors should monitor upcoming financial reports for evidence of increased revenue and user engagement metrics resulting from this expansion.
GMGI's expansion of Meridianbet's product suite showcases the company's technological prowess and agility in the competitive online gaming market. The development of proprietary software to power this expansion is a significant asset, potentially providing GMGI with a competitive edge and reducing reliance on third-party solutions.
Key technological aspects to consider:
- Scalability: The ability to rapidly deploy 170 new games across multiple leagues demonstrates robust backend infrastructure.
- Customization: The diverse game groups suggest advanced algorithms for odds calculation and risk management.
- User Experience: The expanded offering likely requires an intuitive interface to handle the increased complexity without overwhelming users.
From a tech investment standpoint, GMGI's in-house development capabilities could lead to:
- Faster time-to-market for new features
- Reduced long-term operational costs
- Increased flexibility to adapt to regulatory changes
- Potential for licensing the technology to other operators, creating additional revenue streams
Investors should watch for future tech-driven innovations and any partnerships or licensing deals that could further monetize GMGI's proprietary technology.
LAS VEGAS, Nev., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group (NASDAQ: GMGI) ("GMGI" or the "Company"), a leading developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, today announced a substantial expansion to the width of the product lineup of its subsidiary, Meridianbet.
The expansion, powered by GMGI's proprietary software developed by its Meridianbet subsidiary, introduces approximately 170 new games with over 2,000 additional betting selections per each match. This strategic move is designed to broaden the Company's market appeal and increase user engagement, revenue streams and market share in respective jurisdictions.
The new offering introduces five game groups for each match: Players, Special, Corners, Cards, and Time Games. These additions provide users with a more comprehensive and immersive betting experience, potentially leading to increased user engagement and higher betting volumes.
"This expansion of our Meridianbet special offering represents a significant milestone in our product development strategy," said Brian Goodman, CEO of Golden Matrix Group Inc. "By leveraging our proprietary software capabilities, we've been able to create a more diverse and engaging betting experience for our users. We believe this enhancement will not only attract new customers but also increase the lifetime value of our existing user base, ultimately driving long-term shareholder value."
The expanded Meridian Special is now available for major European and global soccer leagues worldwide, including English Premier League, Spanish La Liga, Italian Serie A, German Bundesliga, French Ligue 1, UEFA Champions League, UEFA Europa League, UEFA Europa Conference League, Brazilian Serie A, Greek Superleague, Cypriot First Division and Belgian First Division A.
"Our ability to rapidly develop and deploy these new betting options demonstrates the flexibility and power of our proprietary technology stack. This agility allows us to quickly respond to market demands and stay ahead of industry trends, positioning GMGI for sustainable growth in the highly competitive online gaming sector," added Mr Goodman.
GMGI views this product expansion as a key component of its broader strategy to increase market share and enhance its competitive position in the global online gaming market. The Company continues to invest in its proprietary technology to drive innovation and create value for both users and shareholders.
For more information about Golden Matrix Group, Meridianbet and their product offerings, please visit https://goldenmatrix.com/ and ir.meridianbet.com.
About Golden Matrix Group
Golden Matrix Group, based in Las Vegas, NV, is an established B2B and B2C gaming technology company operating across multiple international markets. The B2B division of Golden Matrix Group develops and licenses proprietary gaming platforms for its extensive list of clients and RKings' competitions, and its B2C division operates a high-volume eCommerce site enabling end users to enter skill-based tournaments and win prizes.
Our sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current US law.
About Meridianbet
Founded in 2001 and acquired by Golden Matrix in April 2024, Meridianbet Group is a well-established online sports betting and gaming group, licensed and/or currently operating in 17 jurisdictions across Europe, Africa, and South America. Meridianbet’s successful business model utilizes proprietary technology and scalable systems, thus allowing it to operate in multiple countries and currencies and with an omni-channel approach to markets, including retail, desktop online, and mobile.
FORWARD-LOOKING STATEMENTS
Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements.
Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, the ability of the Company to obtain the funding required to pay certain Meridianbet Group acquisition post-closing obligations, the terms of such funding, potential dilution caused thereby and/or covenants agreed to in connection therewith; potential lawsuits regarding the acquisition; dilution caused by the terms of the Note and Warrant, the Company’s ability to pay amounts due under the Note and covenants associated therewith and penalties which could be due under the Note and securities purchase agreement for failure to comply with the terms thereof; the business, economic and political conditions in the markets in which the Company operates; the effect on the Company and its operations of the ongoing Ukraine/Russia conflict and the conflict in Israel, changing interest rates and inflation, and risks of recessions; the need for additional financing, the terms of such financing and the availability of such financing; the ability of the Company and/or its subsidiaries to obtain additional gaming licenses; the ability of the Company to manage growth; the Company’s ability to complete acquisitions and the availability of funding for such acquisitions; disruptions caused by acquisitions; dilution caused by fund raising, the conversion of outstanding preferred stock, convertible securities and/or acquisitions; the Company’s ability to maintain the listing of its common stock on the Nasdaq Capital Market; the Company’s expectations for future growth, revenues, and profitability; the Company’s expectations regarding future plans and timing thereof; the Company’s reliance on its management; the fact that the sellers of the Meridianbet Group hold voting control over the Company; related party relationships; the potential effect of economic downturns, recessions, increases in interest rates and inflation, and market conditions, decreases in discretionary spending and therefore demand for our products and services, and increases in the cost of capital, related thereto, among other affects thereof, on the Company’s operations and prospects; the Company’s ability to protect proprietary information; the ability of the Company to compete in its market; the effect of current and future regulation, the Company’s ability to comply with regulations and potential penalties in the event it fails to comply with such regulations and changes in the enforcement and interpretation of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our business; the risks associated with gaming fraud, user cheating and cyber-attacks; risks associated with systems failures and failures of technology and infrastructure on which the Company’s programs rely; foreign exchange and currency risks; the outcome of contingencies, including legal proceedings in the normal course of business; the ability to compete against existing and new competitors; the ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this press release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved.
Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company’s publicly-filed reports, including, but not limited to, under the “Special Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, including, but not limited to, the Company’s Annual Report on Form 10-K for the year ended October 31, 2023 and its Quarterly Report on Form 10-Q for the quarter ended January 31, 2024, and future periodic reports on Form 10-K and Form 10‑Q. These reports are available at www.sec.gov.
ICR:
Brett Milotte
Brett.Milotte@icrinc.com
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FAQ
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