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InvestorNewsBreaks – Golden Matrix Group Inc.’s (NASDAQ: GMGI) Acquisition Target, Meridian, Announces Q3 Results
January 8, 2024

InvestorNewsBreaks – Golden Matrix Group Inc.’s (NASDAQ: GMGI) Acquisition Target, Meridian, Announces Q3 Results

The MeridianBet Group (“Meridian”), one of Southeast Europe’s leading business-to-consumer (“B2C”) sports betting and gaming groups, operating in multiple markets across Europe, Africa and Latin America, today provided a review of the company’s growth and progress in 2023, and an update on the pending acquisition of Meridian by Golden Matrix Group (NASDAQ: GMGI). Meridian achieved about 25% revenue growth in 2023 as compared to 24% in the prior year, as well as increases in EBITDA and net profit of around 10% and 6%, respectively, driven by significant new product offerings and continued expansion into regulated jurisdictions. “We are extremely pleased with our strong year-on-year operating results and continued expansion into new regulated markets. We are especially excited about the recent legislation for Online Casino and Sportsbook in Brazil, one of the world’s largest gambling markets,” said MeridianBet Group’s CEO Zoran Milosevic. “We look forward to the completion of the acquisition by Golden Matrix, now expected in the first quarter of 2024, and how the combined company will offer state-of-the-art B2B and B2C gaming platforms in multiple jurisdictions worldwide. The completion of this acquisition will drive long-term value for all our stakeholders as we benefit from economies of scale and from both companies’ historical revenue and profit growth.”

To view the full press release, visit https://ibn.fm/pwqqT

About Golden Matrix Group Inc.

Golden Matrix Group, based in Las Vegas, Nevada, is an established business-to-business (“B2B”) and business-to-consumer (“B2C”) gaming technology company operating across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients and RKings, its B2C division, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The company also owns and operates MEXPLAY, a regulated online casino in Mexico. The company’s sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current U.S. law.

NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI

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