iGaming Innovator Reports Discussions With Over 20 Potential Partners, Showcases New Social Casino and Crash Game Offerings LISBON, Portugal, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Expanse Studios, a subsidiary of Golden Matrix Group Inc. (NASDAQ: GMGI), today announced its triumphant participation in the SBC Summit Lisbon 2024, held from September 24-26 at the Feira Internacional de Lisboa. The event, which saw a record-breaking attendance of 25,000 industry professionals, served as a launchpad for Expanse Stu ...

LAS VEGAS, NV, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group Inc. (NASDAQ: GMGI), a leading developer and licensor of online gaming platforms, systems and gaming content, is proud to announce that its subsidiary, Meridianbet, has been shortlisted for an exclusive sports betting and iGaming license in Brazil. The application, filed under request number 56.195.600/0001-07, positions Meridianbet among a select group of global operators who will be part of one of the most anticipated market launches in ...

LAS VEGAS, NV, Aug. 20, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group Inc. (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems and gaming content, today announced that Chief Executive Officer Brian Goodman will be participating in a live interview with Benzinga Executive Producer Zunaid Suleman this Wednesday, August 21st, on Benzinga All-Access at approximately 11:40 a.m. Eastern Time. During the live interview, Mr. Goodman and Mr. Suleman will discuss: GMGI's Q2 2024 financial resu ...

Financial Performance - Second quarter consolidated revenue grew 75% to $39.4 million[13] - Year-to-date revenue grew by 41% to $64.3 million[14] - Second quarter consolidated gross profits increased by 311% to $21.7 million[16] - Year-to-date gross profits increased by 169% to $39.4 million[16] - Shareholders' equity grew 520% to $89.5 million compared to December 2023[18] - Cash on hand was over $40 million as of July 31, 2024, a 96% increase over December 2023's $20.4 million[19] - The company has a Net Debt Leverage ratio of 16[19] Divisional Highlights - Rkings and its related company posted revenues of over $9.6 million in the second quarter, an increase of over 43% year-over-year[24] - IGMA's second quarter wagering grew by 124% to $12 billion; year-to-date wagering increased by 141% to $22 billion[25] - IGMA's second quarter Gross Gaming Revenue grew by 187% to $38 million; year-to-date revenue increased by 186% to $68 million[25] - Meridianbet's second quarter revenue increased by 114% compared to Q2 2023[28] - MexPlay's second quarter deposits increased by 297% to $12 million[27]

Financial Data and Key Metrics Changes - Consolidated revenue for Q2 2024 grew 75% to $39.4 million, with year-to-date revenue increasing by 41% to $64.3 million [8] - Net income for the quarter was $15,000, affected by non-cash items and one-off acquisition costs [8] - Consolidated adjusted EBITDA remained consistent at $5.4 million, while gross profit increased by 31% to $21.7 million [8][9] - The company maintained a healthy balance sheet with over $40 million in cash and equivalents, a 96% increase from December 2023 [9] Business Line Data and Key Metrics Changes - R Kings Competitions generated revenues of over $9.6 million, a 43% increase year-over-year, with 386,000 total players [9] - GMAG platform saw wagering grow by 124% to $1.2 billion, with gross gaming revenue increasing by 187% to $38 million [10] - MexPlay casino reported cash deposits up 297% to $1.2 million and gross gaming revenues grew by 154% to $422,000 [11] Market Data and Key Metrics Changes - Meridianbet's revenues increased by 11.4% compared to Q2 2023, with online segment growth at 14% [12] - Total deposits for Meridianbet reached $59.2 million, reflecting a 16% growth year-over-year [12] - The online casino sector within Meridianbet recorded a 17% revenue growth, supported by the addition of new games [13] Company Strategy and Development Direction - The company aims to achieve annual revenues of over $150 million and adjusted EBITDA of over $13 million by 2025 [22] - Plans to continue scaling through acquisitions and investing in new markets to expand global footprint [22] - Focus on operational excellence and driving enhanced shareholder value while maintaining double-digit growth [22][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing future opportunities and maintaining significant growth [21] - The successful consolidation with Meridianbet is expected to drive strong growth across all sectors [6][20] - Continued investment in technology and AI is anticipated to enhance player experiences and drive results [16] Other Important Information - The company has a robust balance sheet with significant cash reserves, allowing for potential acquisitions and debt management [21] - Meridianbet is expanding into new jurisdictions, including Brazil, Peru, and South Africa, which are projected to offer substantial growth opportunities [15][17] Q&A Session Summary - The conference call concluded without a formal Q&A session, as indicated by the operator's closing remarks [20]

LAS VEGAS, NV, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group Inc. (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems, and gaming content, today announced that it will report its second quarter 2024 financial results before the market opens on Tuesday, August 13, 2024. An audio webcast of the earnings call and an accompanying highlights presentation reviewing the Company's financial results, recent events and company outlook will be available on August 13th in the "Events & ...

Unmatched Olympic Betting Variety Powered by State-of-the-Art AI Meridianbet's Olympic offerings include: The Olympic Games, with their rich history dating back to ancient Greece, represent the pinnacle of athletic achievement. The 2024 Paris Olympics will feature 45 sports, showcasing the world's top athletes competing for glory on the global stage. The companies' sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current ...

Personalized iGaming Powered by AI LAS VEGAS, NV, July 19, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire – Golden Matrix Group (NASDAQ:GMGI) ("Golden Matrix" or the "Company"), a leading international developer and licensor of online gaming platforms, systems and gaming content, today announced the launch of an innovative Artificial Intelligence ("AI") powered casino game recommender by its subsidiary, Meridianbet. The recommender is designed to optimize user engagement and enhance the gaming experience. Meridi ...

"We believe the repurchase program may provide numerous benefits to the Company and its stockholders, including, among others, possibly help counteract the short interest in the Company's common stock, mitigation of overhang on the market for the Company's common stock, attractive use of the Company's capital to repurchase shares at current prices, a more tax-efficient way of returning capital to shareholders compared to declaring cash dividends and accretion to earnings per share," said Anthony Brian Goodm ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |----------------------------------------------------------------------------|-----------------------------------------------------------------------------------------|---------------------------------------| | (Exact name of \nNevada | Golden Matrix Group, Inc. registrant as specified in its charter) \n001-41326 | 46-1814729 | | (S ...