Golden Matrix Group, Inc. (NASDAQ: GMGI) continues to demonstrate robust growth, reporting an 85% increase in third-quarter sales, building on a 75% rise in the previous quarter. This growth reflects the company’s ability to thrive across its diversified operations in gaming, sports betting, and technology provision. Maintaining profitability, the firm recorded an adjusted EBITDA of $4.3 million in the quarter, affirming its operational strength.
CEO Brian Goodman highlighted the company’s focus on long-term growth, citing strategic acquisitions, platform enhancements, and the broadening of its iGaming portfolio as key drivers of success. Golden Matrix, operating in over 15 countries, benefits from the ongoing global expansion of online gambling, driven by regulatory relaxation and increased accessibility via mobile platforms.
The acquisition strategy has been pivotal, with the $300 million purchase of MeridianBet Group in April followed by an 80% stake in Australia-based Classics for a Cause Pty Ltd (CFAC). This entry into the consumer rewards space complements Golden Matrix’s gaming expertise. CFAC, which offers retail discounts and high-value giveaways, added $2.1 million in revenue and $503,000 in EBITDA in just two months under Golden Matrix’s ownership. The company plans to leverage its global presence to expand CFAC’s reach.
Innovation remains at the forefront, marked by the launch of The AI Bet Recommender, a tool providing personalised betting suggestions. Earlier advancements included an AI-powered casino game recommender designed to optimise player engagement using tailored algorithms.
Regulatory milestones further solidify Golden Matrix’s market position. In Brazil, its subsidiary Meridian Gaming Brasil has advanced in the licensing process for sports betting and iGaming, targeting a market projected to generate $2.2 billion by 2024. Growth is also evident in Mexico, where the Mexplay online casino saw a 56% rise in active players and a 67% increase in gross wagering volume.
The company’s recently acquired MeridianBet division reported a 16% revenue increase, driven by growth in both online and retail operations. Additionally, the GMAG platform, which powers B2B partnerships and game development via Expanse Studios, saw an 84% surge in wagering volume, reflecting the success of high-margin games and customer retention efforts.
Looking ahead, Golden Matrix projects $76 million in EBITDA next year, positioning itself favourably compared to industry peers such as DraftKings and Caesars Entertainment. With accelerating sales growth, expanding market opportunities, and an active acquisition strategy, the company appears well-positioned for sustained success and increased investor interest.
Golden Matrix’s strategic initiatives and innovative technologies highlight its potential as a key player in the global gaming industry, poised to capitalise on emerging opportunities across markets.
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.
