Golden Matrix reports second quarter record with $39m revenue

July 9, 2024

The company acquired MeridianBet in April, with both companies now operating with the same fiscal year.

Golden Matrix Group (Golden Matrix) has announced that it achieved record revenues of more than $39m for the second quarter of 2024, pursuant to preliminary revenue estimates. Due to Golden Matrix’s acquisition of MeridianBet being completed at the beginning of April, and both companies are now operating with the same fiscal year, this is Golden Matrix’s first reporting period to include consolidated revenues of the combined company.

“Our acquisition of MeridianBet Group is off to a great start, with this strong initial quarter and expectations for continued growth of revenues and profits for the foreseeable future,” Golden Matrix CEO Brian Goodman said. 

“We plan to continue to work to strengthen our business-to-business (B2B) and business-to-consumer (B2C) segments worldwide, and we are currently evaluating acquisition opportunities which we hope will further boost our strong core business growth and overall financial performance.”

MeridianBet recently announced in June that it had been granted two new major licenses in South Africa and Peru. MeridianBet’s operating sportsbook in Brazil saw wagering reach $14.7m in the second quarter of 2024, which is a 13% increase from the Q1 2024. 

Expanse Studios, MeridianBet’s gaming portfolio, recently announced a strategic partnership with Betika, Kenya’s leading online gaming company. This collaboration will look to further increase Expanse Studios’ iGaming market exposure across Africa.

Goodman continued to share the backing Golden Matrix is currently receiving, having said, “Mr. Aleksandar Milovanović, the largest shareholder of the company, recently converted $4m of deferred debt into shares of common stock at a conversion price of $3 per share. We believe this clearly shows confidence in the company and its ongoing performance.”

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