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The Golden Matrix Group Reports a Record-Breaking Q3 Revenue

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The GMGI Group reported revenue of $11.3m for the quarter ended 31 July, representing a 24.2% year-on-year increase. Last month, the developer confirmed it fulfilled expectations of record Q3 revenues without disclosing full results.

“We have continued the year with strong momentum and delivered solid results,” Goodman said. “The company achieved record revenues and posted its seventh consecutive quarter with positive cash flow from operations.

“Profitability in Q3 was impacted by several factors… including a significant increase in one-off legal and due-diligence expenses associated with the anticipated acquisition of the MeridianBet Group… as well as the start-up marketing costs related to the roll-out of Mexplay, the company’s B2C online casino in Mexico.”

The MeridianBet takeover

In January, GMGI struck a deal worth about $300m to purchase MeridianBet. Terms were amended in July, with GMGI hoping to complete the deal in Q4.

“We have made important investments during the quarter in systems and people to accelerate the growth of our B2C segments, both RKings and Mexplay,” Goodman added. “At the same time, there was significant progress in seeking to secure the financing required to close the deal for the acquisition of the MeridianBet Group and its related companies.

“Upon the successful acquisition of MeridianBet, the combined enterprise is expected to be generating multiple streams of gaming revenue and profit in regulated jurisdictions worldwide and offering highly popular best-in-class products, including casino games and sports betting.

“Closing of the MeridianBet acquisition will be a watershed event which is expected to catapult Golden Matrix into the global gaming markets as a highly competitive participant.”

The operating costs segment

Revenue contribution from RKings – GMGI’s B2B segment – was $3.7m in Q3, while the contribution from its B2C segment Mexplay was $7.6m.

GMGI took full ownership of RKings in November last year, having initially purchased a majority holding in November 2021.

Gross profit was $2.1m. This resulted from $9.1m in cost of goods sold. Operating costs grew 72.8% year-on-year to $3.0m, bringing the loss to $892,099.

The loss was aided slightly by earned interest of $15.1m, but was affected by $7.6m in interest expense. Following $81.0m in provision for income taxes, the net loss reached its $965,628 total, a $1.6m difference year-on-year.

Aside from the Q3 one-off costs, GMGI recorded a non-cash charge of $931,614 for stock-based compensation.

Meanwhile, adjusted quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) totalled $161,783 for the quarter.

In the first nine months of GMGI’s financial year, through to the end of July, revenues reached $32.4m – up 22.4% from $26.5m. Gross profit, after $25.7m in cost of goods sold, was $6.6m.

Operating expenses for the year so far added up to $8.3m, up by 62.0%, bringing the operating loss to $1.7m.

Following other income of $67,956 the loss for the nine months was $1.6m, furthered still by tax of $299,071.

The company’s nine-month loss of $1.9m compared to a profit of $1.5m last year.

Greece

Playzia Strengthens Presence in Regulated Markets Through Strategic Partnership with Novibet

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Playzia, a rapidly growing force in the iGaming industry, is excited to announce a strategic partnership with Novibet, a leading international operator. This collaboration significantly extends Playzia’s footprint in the regulated Greek market and other key regions where Novibet operates.

The expansion marks another milestone in Playzia’s commitment to regulated markets, as it continues to broaden its reach while reinforcing its position as an innovator in the iGaming sector.

As part of this agreement, Novibet players will now have access to Playzia’s extensive and engaging catalog of in-house developed games. The lineup includes fan-favorites such as Billionaire Rhino and Cosmos Cash, as well as recent top-performing releases Medusa Mystic Reels Megaways, Zeus’s Thunderstrike, and T-Rex Treasure Hunt Megaways™. With focus on innovation, Playzia continues to introduce groundbreaking game mechanics such as Hold and Win & Hold and Win Jackpot, Retrigger & Stacked Wilds in Free Spins, Bonus Hold and Win, Persistent Collection & 50 Symbols, and its highly anticipated Love Island content.

Vlad Modorcea, CPO at Playzia, shared his thoughts on the partnership: “Teaming up with Novibet is a significant milestone for Playzia as we continue to grow our presence in regulated markets. Novibet has a stellar reputation for delivering top-tier gaming experiences, making them an ideal partner for us. We are eager to see players engaging with our games and experiencing the unique entertainment Playzia brings to the table.”

Foteini Matthaiou, Casino Product & CRM Director at Novibet commented: “At Novibet, we are committed to elevating the player experience through strategic alliances. Welcoming Playzia’s dynamic game portfolio is a natural next step in delivering innovative, high-quality content that resonates with our players in Greece and beyond.”

This latest agreement further strengthens Playzia’s standing as a premier game supplier, offering a diverse mix of game formats, including crash, table, instant, and probability-based games. With an exciting roadmap ahead, players can look forward to innovative features, engaging gameplay, and thrilling jackpot opportunities.

The announcement follows Playzia’s recent nomination in two key categories at the prestigious EGR B2B Awards 2025: Slot Supplier (Under 5 Years) and Software Rising Star, further underscoring the company’s momentum and industry recognition.

Playzia is also making waves in the branded content space. The company has secured an exclusive content partnership with ITV, the UK’s leading commercial broadcaster, to develop online games inspired by the global phenomenon Love Island. This upcoming series will blend the excitement of reality TV with Playzia’s signature gaming innovations.

The post Playzia Strengthens Presence in Regulated Markets Through Strategic Partnership with Novibet appeared first on European Gaming Industry News.

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Relax Gaming adds fast-paced Daily Jackpots to its Dream Drop network

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Relax Gaming, the iGaming aggregator and supplier of award-winning content, has raised the temperature of its record-breaking Dream Drop Jackpot by introducing Daily Jackpots across the entire network.

The latest evolution of the red-hot jackpot product will see players benefit from three guaranteed Daily Jackpots every day, adding a fresh layer of excitement and more frequent must-drop moments.

Alongside this, the Mega Jackpot has been fine-tuned with an adjusted must-drop value, delivering a smoother, more engaging jackpot experience.

This network-wide update applies to all Dream Drop titles, including the highly anticipated release of Bonsai Dragon Blitz Dream Drop, which arrives on 21st May 2025.

Launched in 2022, the Dream Drop Jackpot has already created millions of euros in prizes across more than 20 lucky Mega Jackpot winners. Today’s update marks the next stage in its evolution, offering players the same beloved product with a hotter-than-ever format.

Alastair Smith, Jackpot Business Owner at Relax Gaming, said: “We’ve listened to player and partner feedback and turned up the heat with a new twist on Dream Drop. The introduction of Daily Jackpots ensures excitement at all hours of the day and builds on what makes Dream Drop the most thrilling jackpot experience on the market.”

Martin Stålros, CEO at Relax Gaming, added: “Dream Drop has revolutionised jackpots since day one, and we’re not slowing down. With Daily Jackpots added into the mix, we’re delivering more value, more often, while continuing to lead the way in jackpot innovation. This is a natural next step for a product that’s all about pushing boundaries.”

The Dream Drop Jackpot is available across the Relax Gaming portfolio, with smash-hit titles such as Temple Tumble 2, Wild Chapo 2 Dream Drop, The Great Pigsby Dream Drop, and the upcoming Bonsai Dragon Blitz Dream Drop all boasting access to its six-tiered prize pool.

The post Relax Gaming adds fast-paced Daily Jackpots to its Dream Drop network appeared first on European Gaming Industry News.

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AGCO issues penalties of $151,000 against Great Canadian Entertainment for alleged age verification failures

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The Alcohol and Gaming Commission of Ontario (AGCO) has issued $151,000 in penalties to Great Canadian Entertainment for allegedly failing to prevent minors from accessing gambling on multiple occasions at three Toronto-area casinos.

As part of its investigation, the AGCO reviewed four separate incidents in which minors allegedly gained access to the casino floors and in which some of these minors participated in gambling activities – two cases at Great Canadian Casino Resort Toronto, and one at each of Casino Ajax and Pickering Casino Resort.

The AGCO is committed to ensuring casinos meet Ontario’s high standards of harm reduction and responsible gambling. The AGCO’s Standards require operators to ensure only eligible individuals are permitted into a gambling site and strictly prohibit access to anyone under 19 years of age (except in the course of employment). The Standards also mandate that casino employees have the necessary competence, skills, experience and training to effectively carry out their duties, including age verification.

This enforcement action underscores the AGCO’s dedication to protecting youth and other vulnerable individuals.

A casino operator served with an Order of Monetary Penalty by the AGCO Registrar has the right to appeal the Registrar’s decision to the Licence Appeal Tribunal (LAT), an adjudicative tribunal that is part of Tribunals Ontario and independent of the AGCO.

“Ontario casino operators have an obligation to ensure minors are not able to access casino floors or activities such as slot machines or table games. The AGCO will continue to monitor and hold all casino operators accountable for fulfilling this important role.”  – Dr. Karin Schnarr, Chief Executive Officer and Registrar, AGCO.

The post AGCO issues penalties of $151,000 against Great Canadian Entertainment for alleged age verification failures appeared first on Gaming and Gambling Industry in the Americas.

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