Golden Matrix gaming revenue tops record $39 million

Finance News

Golden Matrix Group, an international developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, today announced that pursuant to preliminary revenue estimates, it achieved record revenues of more than $39 million for the company’s second quarter ended June 30, 2024.

MeridianBet’s state-of-the-art gaming portfolio, has continued to generate strong revenues Q2 ’24 being 26% higher than in Q1 ’24. Expanse continues to sign up new casino operators and has recently announced a strategic partnership with Betika, Kenya’s leading online gaming company. This collaboration will further increase Expanse Studios’ iGaming market exposure across Africa.” According to Statista, Kenya’s iGaming market is poised for substantial growth, with online gambling revenues expected to grow at a CAGR of 6.25% until 2028.

 “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 forseeable future,” said GMGI CEO, Brian Goodman, who continued, “Mr Aleksandar Milovanović, the largest shareholder of the Company, recently convert $4 million 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.

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 opportutnities which we hope will further boost our strong core business growth and overall financial performance.”