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Australia

Golden Matrix Enters Into Definitive Agreement to Acquire a Controlling Interest in Australian-Based Classics for a Cause

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Golden Matrix Group, Inc. (Nasdaq: GMGI) (“GMGI” or the “Company”), a developer and licensor of online gaming platforms, systems and gaming content, today announced that it has entered into a definitive agreement to acquire an indirect 80% controlling interest in Classics for a Cause Pty Ltd (“CFAC”), a leading independent online discount platform in Australia.

This strategic acquisition marks GMGI’s entry into the consumer loyalty and rewards industry, complementing its existing operations in the gaming and sports betting sectors and solidifying its position as a premier tournament operator. Moreover, it provides a significant opportunity to scale CFAC’s business and expand the firm’s operations globally.

CFAC operates a well-established business-to-consumer (B2C) platform that offers paid members access to a wide range of discounts from retailers across Australia. The company rewards its members with free entries into promotional giveaways, which feature luxury, high-end American and Australian classic cars, caravans and campers as well as cash and vacation giveaways.

Business Highlights:

  • CFAC generated over $10 million in revenue and more than $1.9 million in operating profit before tax* for the 12-month fiscal year ending June 30, 2024.
  • CFAC has generated considerable free cash flow over the last two fiscal years.
  • The company boasts a social media following exceeding 50,000 and a customer base of more than 300,000, with over 10,000 active monthly subscribers.
  • Recurring monthly subscribers contribute over 30% of CFAC’s total revenue.

*Net operating income before tax calculated for the 12-month period ending June 30th 2024. Financials presented in Australian Dollars and written on a cash basis. With cash basis accounting, revenue and expenses are recorded when cash is received or paid out. Post transaction financials will be presented in terms of GAAP and presented on an accrual basis.

Under the terms of the agreement, GMGI will acquire its 80% stake in the entity which owns CFAC at a purchase price representing a multiple of roughly 5x profits before tax, declared for fiscal year ending June 30th 2024, totalling approximately $8.4 million inclusive of the earnout component. Of this amount, 70% will be paid in cash, with the remaining 30% settled through the issuance of restricted shares of GMGI common stock. The agreement includes provisions for a holdback amount and an earnout, contingent upon CFAC meeting certain post-closing profit targets. Additionally, GMGI will inherit a call option to acquire the remaining 20% minority interest.

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The acquisition is subject to customary closing conditions, expected to be fulfilled within the next several days, with an effective date of August 1, 2024.

Commenting on the acquisition, Brian Goodman, CEO of Golden Matrix, said, “We are thrilled to proceed with this acquisition as it aligns perfectly with our strategy of acquiring profitable and accretive businesses. Our previous acquisition of RKings Competitions has been a phenomenal success, significantly contributing to our revenues and profits, and we anticipate similar results with CFAC. CFAC will provide a strong foundation to build on, as was the case with RKings, and we expect this acquisition will not only enhance our revenue and cash flow but will also add to our bottom-line profitability. We are confident in our ability to scale CFAC, implement cost efficiencies, upgrade its technology and further strengthen its free cash flow.”

Thomas Bailey, founder of CFAC, added, “We are incredibly excited to join forces with GMGI and contribute to their ongoing success. This partnership offers a significant opportunity to expand CFAC into new markets and elevate the company to new heights.”

Thomas Bailey will continue in an executive role with CFAC, where he will oversee the company’s growth and lead the roadmap for its planned expansion into the U.S. Tom co-founded CFAC in 2019 to support Australian veteran charity programs. Over the past decade, he has played a pivotal role in successfully establishing over 14 start-ups and has a strong background in marketing and implementing growth strategies.

According to Research and Markets, the consumer loyalty and rewards market will continue to grow and is forecasted to record a CAGR of 9.5% from 2024-2028, as well as an increase from $3.64 billion in 2023 to $5.79 billion by 2028.

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For full details of the purchase agreement and related terms, please refer to the Current Report on Form 8-K filed today with the Securities and Exchange Commission.

 

Australia

Dr Marla Royne Stafford Named First Conference Chair for 2025 Regulating the Game conference in Sydney

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Leading gambling law and regulation conference Regulating the Game, to be held from 10 to 13 March 2025 in Sydney, has announced Dr Marla Royne Stafford as its first Conference Chair for the event.

Chairing a day of the conference provides an opportunity for industry professionals and regulators to offer unique insights and perspectives, steward the conversation to highlight critical points and stimulate an exchange of ideas and discussions.

Dr Stafford is Professor of Marketing in the Lee Business School at University of Nevada-Las Vegas. She is also a Faculty Scholar with the UNLV International Gaming Institute, Director of Research for the Cannabis Policy Institute and past Executive Associate Dean of Academic Affairs at the Harrah College of Hospitality.

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She is a past William F. Harrah Distinguished Chair, a member of the Board of Advisors for the Nevada Council on Problem Gambling and is currently serving as a guest editor for an upcoming special issue of the UNLV Gaming Research and Review Journal. She is an expert in the responsible gambling arena and her work includes projects with the American Gaming Association and AMZC Limited.

“I am deeply honored and excited to serve in this leadership role at the 2025 Regulating the Game Conference. The Conference is one of the premier annual events in the gaming world, featuring thought leaders and stimulating important discussions in a fast-moving industry. It is truly a privilege to be part of the organizing committee and help advance the needed conversations in policy, regulation, leadership, ethics and the future of the industry,” Dr Stafford said.

Paul Newson, Principal at Vanguard Overwatch, said: “The fact that we are attracting such distinguished figures to Chair a day of Regulating the Game is a clear testament to the conference’s expanding influence and significance in the industry. It’s an exciting time as we continue to bring together the brightest minds to shape the future of gambling regulation.”

Regulating the Game is looking for more candidates to Chair in 2025, specifically seasoned professionals with experience in the gambling sector and regulation, compliance, policy or related fields. The event provides regulators, industry executive or thought leaders this the chance to make a significant impact at one of the industry’s most influential events.

The post Dr Marla Royne Stafford Named First Conference Chair for 2025 Regulating the Game conference in Sydney appeared first on European Gaming Industry News.

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Australia

Regulating the Game Confirms First Two Speakers of Masterclass Series

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The organisers of the Regulating the Game conference that will be held in Sydney, Australia, from March 10 to 13 have announced the first two confirmed speakers for its 2025 Masterclass Series in Sydney.

Jay Robinson, chief stakeholder relations officer at Focal Research Consultants, will present a masterclass on “Beyond Compliance – Safer Gambling Training and Building a Culture of Customer Care.”

The organisers said: “Jay brings deep global experience in developing and implementing safer gambling strategies that go beyond mere compliance and underpin cogent industry voice and leadership.

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“Jay’s session will focus on creating a culture of customer care, equipping participants with practical tools and insights to enhance player protection and responsible gambling practices. Flying in from Canada, Jay’s expertise is highly regarded globally, making this a must-attend session for anyone committed to advancing safer gambling initiatives.”

Jay Robinson said: “Great training is more than a compliance tick box: it sustains an arc of culture building housed in customer care. Effective gambling staff training transcends mere compliance and meets the real needs of both staff and customers.

“This masterclass delves into how industry leaders, regulators, and frontline staff across various jurisdictions can successfully build a culture of safer gambling. It emphasises the critical role of leadership in supporting and sustaining training initiatives.”

Ian Hughes, chief commercial officer at Gaming Laboratories International (GLI) and chief executive officer of GLI Australia, will lead a masterclass on “Technology Disruptors in the Gambling Sector.” This session will dive into emerging technologies within the gaming industry, exploring their potential benefits and risks.

Ian will cover critical innovations such as cashless systems, microservices, AI, and cloud-based solutions, and discuss their impact on responsible gaming, privacy, security, and AML/CTF compliance.

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Both Jay Robinson and Ian Hughes are recognised experts in their fields, and their masterclasses will offer attendees unparalleled insights into the latest trends and best practices. These sessions are designed to deep dive into the topics, promote interaction and provide actionable insights to help participants navigate the rapidly evolving gambling regulatory landscape.

Paul Newson, principal at Vanguard Overwatch, said: “We’re thrilled to continue the Masterclass Series at Regulating the Game 2025, featuring world-class experts like Jay Robinson and Ian Hughes.

“These sessions will provide hands-on learning and deep insights into key areas like safer gambling, customer care, and disruptive technologies. It’s an unparalleled opportunity for participants to engage with the latest trends and walk away with actionable strategies for uplifting capability and navigating the evolving regulatory landscape.”

The post Regulating the Game Confirms First Two Speakers of Masterclass Series appeared first on European Gaming Industry News.

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Australia

Regulating the Game Announces Dr Bo Bernhard as 2025 Conference Speaker

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Leading gambling law and regulation conference Regulating the Game has announced Dr Bo Bernhard, Vice President of Economic Development at the University of Nevada Las Vegas, as a headline speaker at its 2025 edition, to be held in Sydney from 10 to 13 March.

A well-known industry figure, Bernhard is also a fifth-generation Nevadan whose global work has taken him from the glitz of Las Vegas to South Africa, Europe, Japan, Singapore and beyond. A Harvard graduate with a double major in sociology and psychology, his groundbreaking research on the socio-economic impacts of the Las Vegas Strip set the stage for a distinguished international career.

Paul Newson, Principal at event organizer Vanguard Overwatch, said: “Having Dr Bo Bernhard share his insights at Regulating the Game 2025 will be electrifying. His unique global perspective is sure to enlighten, provoke thinking and inspire. This conference continues to set the bar high with unmatched speaker line-ups and content that tackles the sector’s most pressing issues.”

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By 30, Dr Bernhard had delivered key research addresses on six continents. He later took on the role of Executive Director at the UNLV International Gaming Institute, where he expanded the organization to include four centers of excellence. In 2021, he became UNLV’s Vice President of Economic Development, spearheading projects at the Harry Reid Research and Technology Park, Black Fire Innovation hub and UNLV Incubator.

“We find ourselves at a fascinating moment in the global economy, as industries like gaming, tourism, sports, and entertainment are blending, growing, and converging like never before,” said Dr Bernhard.

“This conference convenes the leading thinkers in gaming and adjacent sectors, and never has it been more timely or more important to gather leading experts in an effort to tackle some of the most challenging issues in our fast-developing world.”

The Regulating the Game conference is a flagship event that bridges the gap between regulators, industry professionals and stakeholders. The conference is dedicated to introducing expert content, inspiring discussion and debate about policy and sector issues, and driving innovation to support efficient and effective gambling regulation.

Now in its fifth year, Regulating the Game continues to attract speakers and attendees from around the world, solidifying its status as a pivotal event for those shaping the future of the industry.

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The post Regulating the Game Announces Dr Bo Bernhard as 2025 Conference Speaker appeared first on European Gaming Industry News.

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