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Golden Matrix Group, Inc. is a prominent gaming technology company that focuses on developing and owning online gaming IP and constructing configurable and scalable white-label social gaming platforms for its international customers in the Asia Pacific region. The company operates in both B2B and B2C segments, with the B2C segment generating the majority of revenue. With operations in the UK, Asia Pacific, and Latin America, Golden Matrix offers configurable and scalable iGaming platforms and operates well-known brands like MexPlay, R Kings Competitions, and GM-AG.
Founded in 2008 and based in Las Vegas, Nevada, Golden Matrix provides tools for marketing, acquisition, retention, and monetization of users. The company's platform is accessible through desktop and mobile applications. Formerly known as Source Gold Corp., the company changed its name to Golden Matrix Group, Inc. in March 2016.
Golden Matrix Group Inc. (NASDAQ: GMGI) announced its participation in the 2024 Global Gaming Expo (G2E) at The Venetian Expo in Las Vegas from October 7-10. This marks GMGI's first G2E appearance as a combined entity with Meridianbet. The company will showcase its expanded B2B network, featuring proprietary software including the new Atlas System, a fifth-generation core system for sports betting and iGaming.
GMGI will present alongside Meridianbet and Expanse Studios under a unified banner, demonstrating their collaborative strength. The booth will feature Meridianbet's B2B offerings, including the Atlas core system and AI player recommenders, as well as Expanse Studios' new crash games and social casino content.
The company plans strategic meetings with industry stakeholders to explore growth opportunities in regulated markets. Additionally, Meridianbet has been shortlisted for a sports betting and iGaming license in Brazil, expanding GMGI's presence in South America.
Golden Matrix Group Inc. (NASDAQ: GMGI) announces its subsidiary, Meridian Gaming Brasil SPE LTDA, has advanced in Brazil's licensing process for sports betting and iGaming. As one of 89 companies selected at the Federal level, Meridian Gaming Brasil can continue operating nationwide until December 31, 2024. This positions GMGI to tap into Brazil's gaming market, projected to reach $2.2 billion in 2024 and generate $34 billion in sports betting turnover by 2028.
Meridianbet's proprietary platform, marketing plans, and responsible gambling policies have contributed to its shortlisting. The company's application includes both sports betting and iGaming, offering a full suite of gaming experiences to Brazilian players. CEO Brian Goodman states this advancement reaffirms Meridian Gaming Brasil's technological and operational leadership in the Brazilian market.
Golden Matrix Group Inc. (NASDAQ: GMGI) has announced its fifth amendment to the share purchase agreement with Meridianbet, modifying the earnout structure for the previous acquisition. The amendment, effective October 1, 2024, alters the payment terms for the three sellers: Aleksandar Milovanović, Zoran Milošević, and Snežana Božović.
Key changes include:
- Partial conversion of cash payments to GMGI common stock
- Deferred payment schedules for remaining cash considerations
- Milovanović: 40% in stock, remaining cash deferred to November 9, 2024
- Milošević: 40% in stock, remaining cash paid $50,000 monthly from October to December 2024
- Božović: 20% in stock, remaining cash paid $50,000 monthly in October and November 2024
This amendment aims to align stakeholder interests with GMGI's long-term growth and provide the company with enhanced financial flexibility for strategic initiatives and expansion efforts.
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.
Expanse Studios, a subsidiary of Golden Matrix Group Inc. (NASDAQ: GMGI), made a significant impact at the SBC Summit Lisbon 2024, engaging in discussions with over 20 potential partners. The event, which attracted 25,000 industry professionals, served as a platform for Expanse Studios to showcase its latest innovations.
The company introduced two new games: 'Beach Penalties', their first game specifically designed for the social casino category, and 'Super Heli', a high-octane crash game that generated considerable interest. These titles reflect Expanse Studios' strategic expansion into the social gaming market and its commitment to innovative gaming content.
With a portfolio of over 50 games spanning various categories, Expanse Studios is positioned for continued growth in the global iGaming market. The company's mobile-first approach and strategic partnerships with operators and aggregators further strengthen its market position.
Golden Matrix Group's subsidiary Meridianbet has partnered with Integrity Compliance 360 (IC360) as it prepares to enter the Brazilian market. This strategic move aims to uphold high integrity standards for Meridianbet's sports offering in Brazil, aligning with global regulatory expectations. Meridianbet's Brazilian subsidiary, Meridian Gaming Brasil SPE, is progressing in the licensing process under request number 56.195.600/0001-07.
The partnership comes as Brazil is poised to become the third-largest gaming market globally, with projections indicating $34 billion in sports betting turnover and $2.8 billion in onshore gross win by 2028. Meridianbet's application includes both sports betting and iGaming, positioning it among select operators offering a full suite of gaming experiences in Brazil.
Golden Matrix Group's subsidiary Expanse Studios has launched its first social casino game, Beach Penalties, marking its entry into the rapidly growing social gaming market. This strategic move aligns with the industry's projected growth to $39.95 billion by 2032. Beach Penalties offers an engaging soccer-themed experience with customizable features, multiple gameplay levels, and adjustable volatility.
Key features include:
- Three gameplay levels with increasing challenges and rewards
- Adjustable RTP ranging from 96.5% to 97.5%
- Jackpots, tournaments, and a tutorial feature
- Vibrant animations and user-friendly controls
This launch is part of Golden Matrix Group's strategy to diversify its gaming portfolio and capitalize on emerging trends in the gaming industry, particularly targeting younger generations seeking casual entertainment.
Golden Matrix Group (NASDAQ: GMGI) has reported record-breaking performance for its subsidiary Meridianbet in August 2024. Key highlights include:
- Online casino revenue expected to surpass the 2024 monthly average by 13%
- Online sports betting revenue projected to increase by 9% over the 2024 monthly average
- European operations (excluding UK) set an all-time high for online casino revenue, 11% above the 2024 average
- Americas region achieved a total revenue record, with online growth 72% higher than the 2024 monthly average
- African online casino revenue expected to grow by 8% compared to the 2024 monthly average
CEO Brian Goodman attributes this success to Meridianbet's strategic growth and commitment to excellence in iGaming and sports betting markets across multiple jurisdictions.
Golden Matrix Group Inc. (NASDAQ: GMGI) announces that Aleksandar Milovanović, founder of its subsidiary Meridianbet, has agreed to convert $2,000,000 of debt into equity. This reduces his convertible note from $2,805,671 to $805,671. The decision reflects Milovanović's confidence in GMGI's performance and growth potential.
CEO Brian Goodman states this move sends a strong message to the market and shareholders, reducing outstanding debt and reinforcing belief in the company's potential. The conversion is expected to improve GMGI's Net Debt Leverage and provide enhanced financial flexibility for strategic initiatives and expansion efforts.
Golden Matrix Group (NASDAQ: GMGI) has unveiled Version 2.0 of its AI-powered casino game recommender, developed by its subsidiary Meridianbet. This upgraded system targets the iGaming segment with enhanced personalization and tracking capabilities. The new version processes an expanded dataset, including player behaviors and demographics, to deliver more precise game recommendations.
Initial data shows significant increases in user interaction and retention, with personalized recommendations driving higher player value and extended playtime. V2 is now fully operational on core Meridianbet websites featuring casino games, with plans to extend functionality to mobile apps. This upgrade is a key component of Golden Matrix Group's strategy to leverage AI and data analytics within the iGaming sector, aiming to strengthen its market position and drive sustainable growth.
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