Latest News
Golden Matrix Signs Agreement to Acquire MeridianBet Group
Golden Matrix Group, Inc., developer, licensor and global operator of online gaming and eCommerce platforms, systems, and gaming content, and MeridianBet Group, Southeast Europe’s leading business-to-consumer (B2C) sports betting and gaming group with headquarters in Malta, operating in multiple markets across Europe, Africa, and Latin America, today announced that GMGI has entered into a definitive acquisition agreement pursuant to which it has agreed to acquire MeridianBet Group and its related companies in a cash and stock transaction valued at approximately $300 million (the “Acquisition”).
The acquisition, when completed, will provide GMGI access to new and fast growing regulated B2C markets that have experienced double digit compound annual growth rates (CAGRs) since 2020[i], supported by a network of over 1,100 highly skilled MerdianBet professionals. The acquisition is expected to close in the first half of 2023, subject to customary conditions to closing, including GMGI raising required funding, completion of due diligence, GMGI shareholder approval, and regulatory approvals. The combined pro forma revenues of both companies are expected to be greater than $100 million in FY2022, with an EBITDA estimated to be greater than $22 million for the pro forma year ended 31 October, 2022, making the combination financially appealing and earnings-accretive.
Both companies plan to continue operating under their respective brands.
Transaction Highlights
- Creation of a combined group of profitable and cash positive companies, with enhanced buying power.
- Access to new markets globally.
- Increased competitive edge supporting over 600 third party casino brands on combined proprietary platforms and over 3.5 million registered retail customers in the B2C facing businesses.
- Following the acquisition, GMGI expects to be positioned for growth, both organically and through further acquisitions, and through supported proprietary technology solutions across retail and online.
- Following the acquisition, GMGI expects that synergetic growth opportunities will exist in core markets through the strong MeridianBet brand and growth prospects of other GMGI B2C brands and market entries.
Rationale for the Planned Acquisition
MeridianBet Group with a strong B2C presence in European, Latin America (LATAM), and African sports betting markets – and over 38% year-on-year revenue growth, Fiscal Year 2022 over 2021 – combined with Golden Matrix’s B2B gaming platforms supporting over 6.8 million registered users is expected to result in complementary aspects of the business and a significant increase in market share for both companies.
As a Nasdaq company, Golden Matrix has been seeking opportunities to grow and expand in a strategic and sustainable way. The acquisition of MeridianBet presents a unique opportunity for GMGI to achieve this growth while also gaining access to new markets and resources. Additionally, MeridianBet is a profitable and unique company, which is expected to bring valuable expertise and assets to the combined entity. Overall, the acquisition of MeridianBet is anticipated to bring significant benefits to GMGI from both a financial and operational standpoint, and GMGI’s management team is confident it will drive long-term value for shareholders.
Brian Goodman, CEO of Golden Matrix:
“We are thrilled to announce our entry into a purchase agreement with the shareholders of MeridianBet Group. We believe that this acquisition will provide us entry into a well-established and highly scalable B2C vertical in new markets outside of our core markets. MeridianBet Group appealed to us with its proven business model that emphasizes organic growth, resilience to external economic factors, and exceptional products and technology. We are pleased to be on the path to completing this acquisition and look forward to strengthening and growing our position in the global online betting and gaming industry, expanding into new regulated markets, and maintaining our ongoing drive to scale the business as a whole at a rapid growth rate. MeridianBet Group’s regional market strength, brand awareness and proprietary technology solutions across the enlarged group are also expected to further accelerate our growth and expansion into new territories.”
Commenting on the Acquisition, Zoran Milosevic, Chief Executive Officer of MeridianBet Group said:
“Today marks a major milestone for MeridianBet Group and its employees. As a public company traded on Nasdaq, in synergy with Golden Matrix, we expect to set an industry standard when it comes to worldwide gaming platforms and to be in an even stronger position to deliver on our aggressive growth strategy and expand into new markets, including Brazil and the US. Our brands, which are well known among worldwide online betting and gaming communities, are stronger together; and I am looking forward to working closely with Brian Goodman as we conclude the acquisition. I would like to take this opportunity to express my gratitude to Brian for his hard work and determination, in what has been a testing global macro economic environment for all. I thank the entire GMGI and MeridianBet team for their dedication and commitment to finalize this agreement. We are excited about the many opportunities we can pursue together in the years ahead, and we look forward to updating shareholders and employees on our progress and working towards closing the acquisition and continuing as a combined group.”
Terms of the Acquisition
The purchase price payable to MeridianBet Group shareholders will be satisfied by the issuance to MeridianBet stockholders of approximately 65.3 million common shares of GMGI, based on an agreed price of $3.50 per share, and $70 million in cash. Upon closing of the acquisition, the MeridianBet Group of companies will become wholly-owned subsidiaries of GMGI. The acquisition agreement has been approved by the Board of Directors of each company.
“From the perspective of MeridianBet Group,” added Mr. Milosevic, “the strategic rationale behind the deal and becoming part of a Nasdaq-listed company is to be more competitive and successful in Brazil, the United States and other large markets – where market entry for private companies is more challenging. We are confident the best days of sports betting and online casinos are yet to come, with gaming regulation rolling out globally, creating opportunities for us to expand into these emerging markets.”
No change in the Company’s name is planned in connection with the acquisition, and the Board structure is expected to remain the same, with the sole exception being Mr. William Scott joining as Chairman of the Board. Mr Scott is a seasoned veteran in the regulated gaming industry and is currently an advisor to MeridianBet Group.
Latest News
ELA Games Welcomes Ewa Kaźmierska As MD
ELA Games, a pioneering game supplier studio, is pleased to announce the appointment of Ewa Kaźmierska as Managing Director. This strategic leadership hire marks a pivotal moment in the studio’s journey, positioning ELA Games for accelerated growth and increased market penetration within the competitive iGaming sector.
Ewa brings over 15 years of senior leadership expertise, having successfully steered a game studio through periods of sustained growth and innovation. Her proven track record as a former Chief Executive Officer at multiple iGaming brands will be instrumental in driving ELA Games’ ambitious roadmap. Ewa’s appointment aligns with the studio’s commitment to excellence and reinforces its mission to deliver an exceptional portfolio that resonates across global markets.
ELA Games is gearing up for an impactful 2025, with Ewa at the helm to guide the studio’s expansion strategy. Her leadership will support the studio’s initiatives in establishing a strong market presence and enhancing product development to meet evolving industry demands.
Ewa commented on her new role, stating, “Joining ELA Games presents an incredible opportunity to lead a talented team with a clear vision for growth and innovation. ELA Games has the potential to become a leading force in the industry, and I am excited to contribute to its journey toward building a unique and influential gaming portfolio.”
The addition of Ewa Kaźmierska to ELA Games’ executive team underscores the studio’s dedication to robust growth and strategic excellence. With this leadership move, ELA Games is poised to strengthen its position as a premier game supplier in the iGaming landscape.
The post ELA Games Welcomes Ewa Kaźmierska As MD appeared first on European Gaming Industry News.
Latest News
Week 45/2024 slot games releases
Here are this weeks latest slots releases compiled by European Gaming
Tom Horn Gaming invites bold adventurers to join Max Gold, the fearless explorer, as he delves deep into faraway lands, seeking hidden treasures, legendary jackpots, and mysteries waiting to be uncovered. With an array of exciting features, including the Hold & Win bonus game with jackpots and respins, shatter mode with increasing multipliers, stake booster, and bonus buy, Max Gold.
PopOK Gaming is thrilled to announce the release of its newest slot game, Spinosaurus – a captivating 3×5 slot that transports players back to the thrilling age of dinosaurs! With vibrant, colorful visuals and dynamic gameplay, Spinosaurus features the iconic, mighty dinosaur as your guide on an adventurous quest for massive wins. Players can immerse themselves in prehistoric excitement while aiming for incredible rewards.
Belatra Games has launched its pirate-themed title, Tortuga Codex. This 5×4 slot casts players on a journey on the hunt for untold riches buried on a mysterious island. A Skull symbol acts as the Wild and will substitute for any other symbol to increase the chances of a win. An intriguing element to the game lies in the Additional Reel feature which sits above the main frame. It’s in sync with the main reels, displaying Wild symbols, special pirate icons, and numbers from one to nine.
Vibra Gaming has unwrapped its latest release, Candy Loop, where if players trigger the Candy Round bonus they can max their win by up to 5000x in a game for all sweet-toothed slot fans. Set within a backdrop of clouds and sugar players will lap up this delicious classic three-stepper slot mechanic packed with sweet bonuses, free spins and wilds.
Zillion Games is thrilled to announce the release of Egypt’s Moon, a high-volatility slot that invites players to journey through the mysteries of ancient Egypt under a mesmerizing nighttime sky. Featuring Cleopatra, hidden treasures, and the essence of Egypt’s rich mythology, Egypt’s Moon promises an enthralling experience set against a captivating backdrop. This slot game offers players 25 paylines and an RTP of 96.75%, delivering both excitement and reward.
Having made a big splash with its popular Aqua Lord slot back in 2022, innovative software developer, Swintt, is preparing to dive beneath the waves once more in an action-packed sequel that now features new and improved Pearl Respins and even bigger prizes. Played out across five reels and ten fixed paylines, Aqua Lord 2 picks up where its predecessor left off by once again plunging players into a world of sunken treasures where sticky pearl symbols hold the key to unlocking huge wins of up to 6,000x the bet and two incredibly rewarding features.
Amusnet has released Extra Crown Dice. This latest addition to Amusnet’s online casino portfolio is a majestic dice slot filled with thrilling features. This 5-reel, 10 fixed lines dice game is based on one of the video slots, with redesigned symbols to look like dice. The kingdom of Extra Crown Dice is full of excitement with dice, sevens and eights, where fortunes await those bold enough to seize them. The Star and the Fleur-de-lis symbols are the Scatter symbols boosting the player’s winnings.
The dazzling dancefloor of Piggy Blitz returns with Piggy Blitz Disco Gold, the latest 6×4 online slot sensation from Play’n GO, boasting immersive features and endearing characters. The dancefloor is calling, and it’s shining brighter than ever! Piggy Blitz Disco Gold takes players back to the groovy days of the 1970s – where neon lights and disco beats set the stage for high-energy spins and big-time wins. Our favourite pigs are back, bringing glittering Cash Coins and the exclusive Gold Piggy Feature to this glitzy slot adventure.
Booming Games is going for goal with its first-ever instant win title, Ronaldinho Scores Shoot & Win, as it continues to leverage its partnership with the international footballing icon. Players step into the football boots of Ronaldinho and experience the thrills and excitement of trying to beat the keeper. Each shot the player takes could mean a big prize – there are 16 prizes in total with each kick potentially delivering at least 3 instant rewards.
The post Week 45/2024 slot games releases appeared first on European Gaming Industry News.
Canada
ComeOn Group adds sportsbook to its offering in Ontario
ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.
ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.
ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”
*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)
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