Company Overview - Expanse Studios is a leading developer of online casino games, offering a diverse portfolio including slots, crash games, table games, and other innovative iGaming titles [4] - The company is known for pushing the boundaries of iGaming and delivering high-quality, immersive experiences tailored to players worldwide [4] - Expanse Studios is the in-house development division of Golden Matrix Group Inc (NASDAQ: GMGI) [1] Market Expansion and Growth - Expanse Studios has doubled the number of games it supplies in just a few weeks since entering the US sweepstakes casino market in late 2024 [1][6] - The company has achieved 7x player engagement growth in 2024 compared to 2023, reflecting strong adoption and retention of proprietary gaming content [6] - Expanse Studios continues to expand its global presence by partnering with major operators across regulated markets [4] Operational Strategy - In-house production has expanded the B2B network and reduced reliance on third-party suppliers, lowering operational costs [6] - The company maintains a commitment to technological excellence and creative innovation [4]

LAS VEGAS, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group Inc. (NASDAQ:GMGI) ("Golden Matrix" or the "Company"), a developer and licensor of online gaming platforms, systems, and gaming content, today announced that it has resumed its existing stock repurchase program. Under the repurchase program previously authorized by the board of directors, the Company may repurchase its outstanding shares of common stock from time to time in open market or privately-negotiated transactions, including accelerate ...

Group 1 - Golden Matrix Group Inc. will participate in the 2025 ICR Conference from January 13-15, 2025, at the Grande Lakes Resort in Orlando, FL [1] - Zoran Milosevic, CEO of Meridianbet, will engage in a fireside chat with an equity research analyst on January 13, 2025, at 2:30 PM ET and will be available for meetings during the conference [2] - Golden Matrix Group is a B2B and B2C gaming technology company operating in multiple international markets, focusing on developing and licensing proprietary gaming platforms [4] Group 2 - Meridianbet, part of Golden Matrix Group, operates in 18 jurisdictions across Europe, Africa, and South America, utilizing proprietary technology and scalable systems for its online sports betting and gaming services [5] - The company employs an omni-channel approach, providing services through retail, desktop online, and mobile platforms [5]

LAS VEGAS, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group Inc. (NASDAQ:GMGI) ("Golden Matrix" or the "Company"), a global developer, licensor, and operator of online gaming platforms, today announced Expanse Studios, a rising leader in the iGaming sector and part of the Golden Matrix Group, is thrilled to announce the commencement of the filing process for its B2B Gaming License registration in Ontario, Canada. This pivotal step marks a significant advancement in the Company's global expansion strate ...

A Closer Look Into Golden Matrix Group's (GMGI) Sweepstakes Business Segments: Adding to Meridianbet's SuccessDecember 13, 2024 9:04 AM EST | Source: Reportable, Inc. Sliema, Malta--(Newsfile Corp. - December 13, 2024) - Golden Matrix Group, Inc. (NASDAQ: GMGI), the parent company of renowned brands such as Meridianbet, has seen significant contributions from its sweepstakes business segments as well - RKings Competitions and Classics for a Cause. These two brands have emerged as strong perfor ...

Meridianbet (GMGI) and Crvena Zvezda Seal Euroleague's First Logo Integration DealNovember 21, 2024 12:22 PM EST | Source: Reportable, Inc.Sliema, Malta--(Newsfile Corp. - November 21, 2024) - Meridianbet, a global sports betting and gaming brand, part of the Golden Matrix Group Inc. (NASDAQ: GMGI), has advanced its strategic partnership with Euroleague basketball powerhouse Crvena Zvezda. To view the full announcement, including downloadable images, bios, and more, click here. Key Takeaways ...

VALLETTA, Malta, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Meridianbet, a global sports betting and gaming brand, part of the Golden Matrix Group Inc. (NASDAQ: GMGI), has advanced its strategic partnership with Euroleague basketball powerhouse Crvena Zvezda. Building on over two years of collaboration, Meridianbet has achieved a first-of-its-kind branding integration in Serbia and the region by incorporating its logo into the club’s emblem. This innovative sponsorship represents a next-generation business model for ...

Stock Issuance and Acquisitions - The Company issued 1,000 shares of Series C Preferred Stock to the Sellers at the closing of the Purchase Agreement on April 4, 2024[26]. - The company entered into a Share Exchange Agreement to acquire an 80% ownership interest in Classics for a total consideration of approximately $4,430,052 in cash and 810,390 restricted shares[54]. - The company completed the acquisition of 100% of MeridianBet Group effective April 1, 2024, enhancing its market position[81]. - The Company agreed to pay $5,000,000 in contingent cash consideration and 5,000,000 restricted shares of common stock as part of the acquisition of MeridianBet Group[136]. - The total estimated purchase consideration for the acquisition was $107,942,941, with goodwill valued at $58,188,969 and intangible assets at $30,210,000[133]. Financial Performance - For the three months ended September 30, 2024, total revenues reached $40,992,329, a significant increase from $22,209,657 for the same period in 2023, representing a 84.5% growth[107]. - Revenue for the three months ended September 30, 2024, was $40,992,329, an increase of 85% compared to $22,209,657 in the same period of 2023[177]. - The B2B segment generated $4,111,174 in revenue for the three months ended September 30, 2024, compared to $232,373 in the same period of 2023, marking a 1,669% increase[107]. - The B2C segment's online casino revenue was $11,604,744 for the three months ended September 30, 2024, up from $8,906,040 in the same period of 2023, reflecting a 30% increase[107]. - The total revenue contribution from MeridianBet Group for the nine months ended September 30, 2024, was $75,768,638, resulting in a net income of $8,477,531[135]. Expenses and Liabilities - The Company incurred amortization expenses of $1,962,157 and $420,801 for the three months ended September 30, 2024, and 2023, respectively, and $4,317,523 and $1,357,453 for the nine months ended September 30, 2024, and 2023, respectively[35]. - General and administrative expenses rose by $10,516,288, or 82%, to $23,379,550 for the three months ended September 30, 2024, largely due to stock-based compensation and increased salaries[179]. - Interest expense surged by $786,144, or 19,416%, to $790,193 for the three months ended September 30, 2024, primarily due to the amortization of debt discount[180]. - Long-term liabilities amounted to $35,265,611 as of September 30, 2024, compared to $0 as of December 31, 2023, reflecting the company's recent financing activities[78]. - The company recorded a debt discount of $3,322,177 related to the issuance of a secured convertible note, with an unamortized debt discount of $2,593,118 as of September 30, 2024[78]. Cash Flow and Capital Management - Cash provided by financing activities was $32,716,355 for the nine months ended September 30, 2024, mainly from loans and convertible notes, compared to cash used of $3,063,919 in the same period of 2023[173]. - The increase in cash of $17,999,655 between September 30, 2024, and December 31, 2023, was mainly due to proceeds from loans and borrowings[173]. - The company may need to seek additional capital to meet obligations and support operations, which could lead to shareholder dilution if additional equity is issued[171]. - MeridianBet Group had $38,404,951 in cash on hand as of September 30, 2024, sufficient to meet current working capital and capital expenditure requirements for at least twelve months[168]. Taxation - The company reported an income tax expense of $1,864,122 for the three months ended September 30, 2024, and $2,670,788 for the nine months ended September 30, 2024[115]. - The company had accrued a tax expense of $1,468,472 as a contingent liability for a tax dispute with Greek authorities[116]. - The statutory tax rate for the company's operations in the United States is 21%, while in Australia it is 30%[110]. Assets and Inventory - Total inventory was $4,414,399 as of September 30, 2024, up from $133,905 at December 31, 2023[37]. - The inventory of prizes increased to $4,286,893 as of September 30, 2024, compared to $0 at December 31, 2023[36]. - As of September 30, 2024, total deposits and prepaid assets increased to $5,997,157 from $5,586,495 as of December 31, 2023, representing a growth of approximately 7.4%[68]. - The company recorded total intangible assets of $65,312,279 as of September 30, 2024, up from $21,977,966 as of December 31, 2023[64]. Shareholder and Management Compensation - The total salary paid to CEO Zoran Milošević during the three months ended September 30, 2024, was $25,671, compared to $4,321 in 2023, reflecting a year-over-year increase of 495%[84]. - The company granted 250,000 restricted stock units to CEO Zoran Milošević on May 9, 2024, as part of his employment agreement[84]. - The total salary paid to Ms. Božović during the three months ended September 30, 2024, was $25,671, compared to $4,321 in 2023, marking a significant increase[86]. - The Board approved an increase in the annual base salary of Mr. Brett Goodman to $108,000 effective August 1, 2024[38]. Market Presence and Strategy - The Company has subsidiaries in multiple countries, including Australia, the United Kingdom, Mexico, and Serbia, indicating a broad market presence[27]. - The MeridianBet Group operates in 15 markets across Europe, Central and South America, and Africa, employing approximately 1,200 personnel[141]. - The company has established revenue-sharing agreements with numerous third-party casino providers, enhancing its game library and customer engagement[143]. - The company aims to maintain organic revenue growth in all B2C markets and expand its global reach by obtaining gaming licenses in existing and newly regulated markets[166]. Technology and Innovation - The integration of advanced Machine Learning technologies aims to personalize user experiences by providing tailored bets and real-time odds updates, reducing manual oversight[145]. - The MeridianBet Group has developed 52 in-house slot games available online, enhancing its proprietary casino platform[143]. - The company is committed to investing in technology and innovation to enhance its product offerings and improve overall margins[166].

Meridianbet Foundation (GMGI) Marks Five Years of Successful Global Scholarship ProgramNovember 04, 2024 8:40 AM EST | Source: Reportable, Inc.Sliema, Malta--(Newsfile Corp. - November 4, 2024) - For the fifth consecutive year, the Meridianbet Foundation is proud to recognize and reward exceptional academic talent through its scholarship program. This program now reaches students across all markets where Meridianbet operates, supporting their academic journey and professional aspirations with ...

Revolutionary feature combines spontaneous game discovery with AI-driven personalizationEarly adoption shows 40% increase in new game explorationProjected to drive 15% increase in player lifetime valueSeamlessly integrated with Meridianbet's AI Casino Recommender VALLETTA, Malta, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Meridianbet, a leading European online gaming operator and part of the Golden Matrix Group Inc. (NASDAQ:GMGI), announces the launch of its innovative "I'm Feeling Lucky" feature across its global p ...