Golden Matrix Group (GMGI) has reported a record-breaking performance for its subsidiary, Meridianbet, in August 2024. Meridianbet, well-known for its presence in the gambling and sports betting industries, achieved impressive growth, particularly in its B2C operations, across several regions.
Brian Goodman, CEO of Golden Matrix Group, expressed his satisfaction, noting that Meridianbet’s performance in August reflects the company’s commitment to strategic growth and excellence within the gaming and sports betting markets. He emphasised that the results were a clear indicator of the company’s strategic approach.
During the month, Meridianbet’s online casino exceeded the 2024 monthly average by 13%, setting a new record for the platform. Additionally, the operator saw its online sports betting revenue increase by 9% compared to the average for the year so far. These results illustrate Meridianbet’s operational strength across multiple regulated markets and further establish its position as a leader in online gaming.
Goodman also conveyed his confidence in the company’s trajectory, highlighting its focus on delivering quality experiences to customers and maintaining growth momentum in the coming months. Currently, GMGI operates in 18 regulated jurisdictions across Europe, Africa, and the Americas, continually strengthening its presence in global markets, with Meridianbet showing substantial growth and resilience.
Meridianbet is awaiting federal licences in Brazil, a market anticipated to reach a value of around $20 billion with a potential player base of 106 million by 2025. In addition, the company has secured new licences in Peru and South Africa, where the gaming industries are valued at $1.2 billion and $828 million, respectively, with steady annual growth projected.
Following its acquisition of Meridianbet, Golden Matrix recently announced consolidated group revenue of $39.4 million for Q2, representing a significant 75% increase over the previous year’s Q2 revenue of $22.6 million. Earlier, in late July, GMGI highlighted Meridianbet’s contribution to enhancing the company’s profile, as the Nasdaq-listed online gambling group continued to integrate these new assets into its expanding portfolio.
GMGI has also focused on expanding Meridianbet’s presence in emerging markets, particularly in Latin America and South Africa. These initiatives are expected to create significant opportunities for growth, leveraging Meridianbet’s capabilities in regions where digital gambling is on the rise.
Meridianbet’s record performance in August is a testament to its strategic efforts and operational excellence, paving the way for further expansion and leadership in the global online gaming space.
Golden Matrix Group, Inc. (Nasdaq:GMGI) positions itself as a leader in the iGaming technology space, offering casino, sportsbook, and competition products and combining cutting-edge solutions with a strong portfolio of partnerships to drive growth and innovation in the digital gaming market.
