Australia
Golden Matrix Enters Into Definitive Agreement to Acquire a Controlling Interest in Australian-Based Classics for a Cause
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.
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.
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
IBIA Joins the Judging Panel for Inaugural RTG Global Awards

The organisers of Regulating the Game have announced the International Betting Integrity Association (IBIA) as a confirmed judge for the inaugural RTG Global Awards, to be presented at the Regulating the Game 2026 Gala Dinner on Tuesday, March 10, 2026, in Sydney.
The RTG Global Awards celebrate excellence in leadership, innovation and impact across community impact, compliance, safer gambling, industry integrity and financial crime risk management. The Awards form part of the sixth edition of Regulating the Game, an international conference committed to enhancing sector integrity, regulatory capability and ethical leadership.
Founded in 2005, IBIA is the leading global voice on integrity for the licensed betting industry. It is a not-for-profit association whose members include many of the world’s largest regulated betting operators, active across six continents. IBIA plays a crucial role in safeguarding sport and the betting industry from corruption, operating a world-leading monitoring and alert platform and collaborating with regulators and sports governing bodies around the world.
Khalid Ali, CEO of IBIA, joins the RTG Global Awards judging panel, bringing deep sector expertise and a steadfast commitment to integrity and responsible betting practices.
He said: “I am honoured to join the judging panel for the RTG Global Awards. At IBIA, we are dedicated to upholding integrity and transparency across the global betting landscape. These Awards spotlight the organisations and individuals working to advance ethical conduct and effective regulation, and we are proud to support that mission.”
Paul Newson, Principal at Vanguard Overwatch and founder of Regulating the Game, welcomed the announcement: “Khalid’s appointment and IBIA’s involvement reflect the global calibre and integrity-centred mission of the Awards. Their leadership in monitoring and protecting sport from betting-related corruption aligns perfectly with our vision to champion excellence and elevate standards across the sector.”
• The RTG Global Awards will feature six categories:
• Leadership Voice – for principled, reform-focused leadership contributing to sector uplift
• Safer Gambling Champion – for operators or organisations demonstrating tangible harm minimisation outcomes
• Compliance Excellence – recognising uplift in AML, risk culture, or regulatory compliance
• RegTech Solution of the Year – celebrating innovative technologies improving sector integrity and compliance
• Community Impact Initiative – for initiatives delivering measurable community benefit
• Emerging Leader – Safer Gambling or Compliance – spotlighting rising talent (under 40) making meaningful contributions.
Key Dates:
• Nominations Open: Tuesday, July 1, 2025
• Nominations Close: Friday, December 12, 2025
• Finalists Announced: Monday, February, 2 2026
• Awards Presented: Tuesday, March 10, 2026 at the Regulating the Game Gala Dinner.
Nominations will open on July 1, 2025, with further details and submission guidelines available at: www.regulatingthegame.com/global-awards-2026.
The post IBIA Joins the Judging Panel for Inaugural RTG Global Awards appeared first on European Gaming Industry News.
Australia
ACMA: Four Betting Services Breach Gambling Self-Exclusion Rules

The Australian Communications and Media Authority (ACMA) has found four wagering service providers – Buddybet, Ultrabet, VicBet and Topbet – breached rules that protect people who registered with BetStop – the National Self-Exclusion Register (NSER).
An ACMA investigation found Buddybet failed to close wagering accounts for people on the NSER and sent marketing to them. The company has since exited the Australian market.
A separate ACMA investigation found Ultrabet reopened the account of someone at the end of their self-exclusion period and allowed that person to bet with that account. Ultrabet also caused marketing to be sent to another self-excluded person.
Under the NSER rules, once an individual registers with the NSER, wagering service providers must close that person’s account as soon as practicable. Accounts must not be reopened or reinstated once a person ceases to be registered with the NSER.
Instead, people at the end of their self-exclusion period who want to recommence gambling need to make a clear and deliberate choice to do so. Providers must also cease sending self-excluded people any electronic marketing such as emails or texts.
The ACMA has accepted a court-enforceable undertaking from Ultrabet, which commits the company to review its compliance systems and processes and implement improvements.
Following two other separate investigations, online bookmakers VicBet and Topbet have each been issued with a formal warning after the ACMA found they contravened the NSER marketing rules. The ACMA found each company had sent marketing material to a self-excluded person.
Authority member Carolyn Lidgerwood said breaches of the NSER rules can lead to significant harm.
“Wagering providers should know their obligations under the rules and know that we are enforcing them. The rules about account closure must be complied with,” Ms Lidgerwood said.
“People on the NSER have made a conscious effort to exclude themselves from online gambling services. Sending gambling marketing messages to people who are trying to stop gambling is unacceptable. Betting services must have systems in place that respect the decisions of people to self-exclude, or face further consequences.”
The post ACMA: Four Betting Services Breach Gambling Self-Exclusion Rules appeared first on European Gaming Industry News.
Australia
Regulating the Game 2026 Announces CherryHub and Ebet as RegTech Sponsors

Regulating the Game 2026 has welcomed its first joint sponsors, CherryHub and Ebet, two Australian companies driving transformation across the gaming and hospitality sectors.
Now in its sixth edition, Regulating the Game has cemented its reputation as the premier gambling law and regulation conference. Returning to Sydney in March 2026, the event will again bring together global regulators, industry pioneers and compliance professionals for three dynamic days of policy and sector dialogue, strategic insights and capability building.
The programme will span high-impact keynotes and panel sessions addressing regulatory challenges, financial crime and public policy reform; innovation showcases exploring AI, RegTech and emerging technology; and deep dives into safer gambling, risk management and compliance uplift.
With expert-led masterclasses and the return of Pitch!, now hosted at the iconic Yallamundi Rooms at the Sydney Opera House, Regulating the Game 2026 will “continue to shape the future of not only effective and leading-edge gambling regulation, but also a forward-thinking, innovative, and socially responsible industry,” the organisers noted.
Frank Makryllos, Managing Director and CEO of Ebet, said: “Regulating the Game plays a critical role in fostering the collaboration and thought leadership our industry needs. As suppliers, Ebet and Cherry Hub are committed to equipping venues with practical tools to manage risk, support safer gambling practices, and meet evolving regulatory expectations, including AML/CTF and financial crime compliance.”
Paul Newson, Principal at Vanguard Overwatch and founder of Regulating the Game, said: “CherryHub and Ebet represent the innovation and integrity we seek to champion through Regulating the Game. Their support reflects a strong alignment with our mission to promote evidence-led policy, ethical leadership, and safer gambling outcomes.”
With a refreshed agenda, an expanded Exhibition Showcase, and the return of the Pitch! Challenge, Regulating the Game 2026 is “set to raise the bar once again, fostering critical dialogue, driving collaboration, and advancing not only regulatory excellence but also a vibrant, innovative, and ethically led industry,” the organisers concluded.
The post Regulating the Game 2026 Announces CherryHub and Ebet as RegTech Sponsors appeared first on European Gaming Industry News.
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