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 & ...

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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 ...

LAS VEGAS, July 01, 2024 (GLOBE NEWSWIRE) -- Expanse Studios, iGaming development studio and part of the Golden Matrix Group (NASDAQ: GMGI) is thrilled to announce a new strategic partnership with Betika, Kenya's leading online gaming company. This collaboration, facilitated by our alliance with Casimba Casino, will further increase Expanse Studios' iGaming experience across Africa, tapping into Betika's extensive operations across multiple countries including Kenya, Tanzania, Ethiopia, and Nigeria. This pa ...

Damjan Stamenkovic, CEO of Expanse Studios, expressed excitement about this new venture, stating, "Partnering with Betika not only expands our footprint in the vibrant and rapidly growing African iGaming market but also aligns perfectly with our mission to deliver superior gaming product through constant innovation." Partnership Tailored for a Young, Tech-Savvy Audience Founded in 2017, Expanse Studios is already a trailblazer in the online gaming industry. With a relentless focus on innovation, Expanse mer ...

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This latest innovation underscores Meridianbet's commitment to prioritizing the user experience and solidifying its position in Europe's online casino (iGaming) community. The new Casino Bonus Wallet exclusively holds casino bonus funds, which can be used to play all games in the slots offering. Players receive bonus funds by participating in active promotions on the site. Some of the standout features include: Customizable Rollovers: Possibility to set different rollover requirements for various types of g ...