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.

Golden Matrix Group (NASDAQ: GMGI), a leading B2B and B2C gaming technology company utilizing proprietary technology and operating globally across 17 regulated markets, today announced its participation in the global coalition initiative for flood relief efforts in Rio Grande do Sul, Brazil.

This partnership aims to provide substantial support to the communities in this Brazilian state that have been most devastated by the recent severe flooding.

This initiative is part of the gaming industry’s larger collaboration with local NGOs and humanitarian organizations, marking a significant expansion of our intensive CSR efforts, which saw over 225 community impact campaigns last year alone, primarily through the actions of its subsidiary Meridianbet.

The past week has witnessed unprecedented rainfall in Rio Grande do Sul, turning streets into rivers and isolating entire towns. The current situation remains dire, with hundreds of individuals still unaccounted for, while rescue operations have successfully evacuated over 200,000 residents using boats and helicopters.

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The floods have wreaked havoc on infrastructure, with numerous bridges destroyed, severely disrupting access to Porto Alegre. The aftermath of the disaster has also led to looting in supermarkets during the night, adding to the urgency of the relief efforts.

Golden Matrix Group invites its stakeholders and the global community to contribute to this cause.

About Golden Matrix Group

Golden Matrix Group, based in Las Vegas, Nevada, is a leading B2B and B2C gaming technology company utilizing proprietary technology and operating globally across 17 regulated markets. The B2B division of Golden Matrix develops and licenses branded gaming platforms for its extensive list of clients, and RKings, its B2C division, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The Company also owns and operates MEXPLAY, a regulated online casino in Mexico. In 2024, Golden Matrix completed the acquisition of MeridianBet, a well-established and B2B and B2C sports betting and gaming platform operating and regulated in multiple markets in Europe, Africa and LatAm, providing the combined entity with additional international operations.