Golden Matrix Group announced that the Company is progressing in its efforts to expand its market presence, particularly with its anticipated entry into the U.S. iGaming market. The Company, through its subsidiary Expanse Studios, which specializes in the production and distribution of iGaming content, is currently in the process of applying for the New Jersey Casino Service Industry Enterprise license.

GMGI has initiated discussions with several licensed gaming operators in New Jersey. Once the licensing process is finalized and the necessary approvals are obtained, the Company plans to serve as a B2B provider of its proprietary Expanse Studios iGaming content to fully regulated and licensed online casino and sportsbook operators in the state of New Jersey.

The Company intends to build on its U.S. presence by applying for additional licenses and servicing operator agreements in states where iGaming has been regulated.

Additionally, GMGI’s wholly owned Expanse Studios division has secured an iGaming license for the Bulgarian market and is actively pursuing licenses in Croatia and Romania, key markets that will further expand Expanse Studios’ European footprint.

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Critical to its long-term growth strategy, GMGI, through its recently acquired subsidiary Meridianbet, is also focused on implementing its brand in other key markets, including Brazil, Peru, and South Africa.

As one of the select global operators with a pending federal license in Brazil, Meridianbet will be uniquely positioned to access Brazil’s substantial market, which is projected to grow to approximately $20 billion with a potential player base of 106 million by 2025 (Next.io, 2024). Based on current timelines, the licensing process in Brazil is expected to be completed by the end of December 2024, positioning Meridianbet as one of the companies likely to operate in the rapidly expanding market going forward.

Golden Matrix Group Inc., US-based developer, licensor, and global operator of online gaming and eCommerce platforms, announces its inclusion in the prestigious Russell 3000 Index.

This inclusion underscores the Company’s established market presence and growth trajectory.

Benefits of Russell 3000 Index Inclusion

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Being part of the Russell 3000 Index further increases Golden Matrix’s visibility and attractiveness to a broader range of institutional investors. This inclusion can lead to increased liquidity, greater investor interest, and overall market recognition, providing substantial benefits to both the Company and its shareholders.

“We are honored to join the Russell 3000 Index,” said Brian Goodman, CEO of Golden Matrix Group. “This milestone reflects our strong market presence and growth potential, positioning us for continued success and greater visibility within the investment community.”

Strong Financial Performance Behind the Index Inclusion

Golden Matrix has demonstrated impressive financial performance, showcasing the successful integration of Meridianbet and highlighting strategic synergies.

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Pro Forma Combined Results for Fiscal Year 2023

Total Revenue: $137.17 million

Gross Margin: 56.95%

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Pro Forma Combined Quarterly Results for Q1 2024

Total Revenue: $36.69 million

Gross Margin: 57.41%

Golden Matrix remains focused on executing its growth strategy, leveraging the strengths of both entities to drive innovation and deliver value to shareholders. The company’s solid financial performance and recognition in the Russell 3000 Index reinforce its commitment to long-term growth and shareholder value.

The Meridianbet Group, a premier force in sports betting and igaming, marked a pivotal moment on April 19 as it joined the Nasdaq Capital Market (Nasdaq CM) under the Golden Matrix Group Inc. (Nasdaq: GMGI) banner.

The Opening Bell Ceremony at Nasdaq MarketSite in New York Times Square featured key executives from both companies and symbolized the beginning of a new era for expanded market reach and global strategic opportunities.

This significant event follows the recent acquisition of MeridianBet Group by Golden Matrix Group, Inc. (Nasdaq: GMGI), further solidifying their integration within the global market.

The transaction between Meridianbet and Golden matched not only their operations but also their strategic visions, reshaping the igaming and sports betting industry in the following years. MeridianBet was founded in 2001 and currently operates across 15 jurisdictions.

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“This is a defining moment for both entities,” stated Brian Goodman, CEO of Golden Matrix. “Leveraging MeridianBet’s impressive market presence, technology and expertise and our advanced diversified offerings, we are set to redefine industry standards globally.”

“Joining the Nasdaq as part of Golden Matrix will scale our operations significantly,” noted Zoran Milosevic, CEO of MeridianBet. “We are excited about the increased market visibility and the opportunities to expand even further into new territories. This partnership will leverage our combined strengths, focusing on innovation and profitability.

Operational synergies and future growth

The combined entity is now poised to be one of globally leading proprietary technology and gaming platforms, already known for their high-margin, asset-light business model. The integration will particularly underline competitive advantages, supporting over 650 third-party casino brands and millions of registered retail and online customers worldwide. The Nasdaq listing means greater efficiency and a stronger platform from which to launch further expansions and innovations.

The team behind success and impact

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Both companies remain dedicated to their teams and communities, recognizing the efforts of over 1,000 staff members who have been integral to their success. “A heartfelt thank you to everyone who has contributed to this journey,” Milosevic expressed. “Your dedication has been key to our growth and will continue to be vital as we set new records and deliver significant shareholder value.”