Golden Matrix Group (GMGI) Balances 85% Insider Ownership with Growing Institutional Backing Following Meridianbet Acquisition

Rhea-AI Summary

Golden Matrix Group (NASDAQ: GMGI) demonstrates strong leadership commitment with 85% insider ownership following the Meridianbet acquisition, while maintaining institutional backing. The company's subsidiary, Meridianbet Group, established in 2001, operates in 17 jurisdictions across Europe, Africa, and South America. The group leverages proprietary technology and scalable systems to facilitate multi-currency, omni-channel operations including retail, desktop online, and mobile platforms. This structure combines strict compliance, market diversification, and resilience in the gaming sector.

Positive

• 85% insider ownership indicates strong management commitment and alignment with shareholder interests
• Operational presence in 17 jurisdictions across three continents
• Proprietary technology and scalable systems enabling multi-currency operations
• Growing institutional investment backing

Negative

• High insider ownership (85%) may limit public float and stock liquidity

News Market Reaction

-1.28%

1 alert

-1.28% News Effect

On the day this news was published, GMGI declined 1.28%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Sliema, Malta--(Newsfile Corp. - November 29, 2024) - High insider ownership is often seen as a double-edged sword, but it also reflects strong leadership commitment. Following the acquisition of Meridianbet, 85% of shares in Golden Matrix Group (NASDAQ: GMGI) are held by insiders—a clear indication of alignment between leadership and shareholder interests.

To view the full announcement, including downloadable images, bios, and more, click here.

Key Takeaways:

• Strong Insider Ownership with Institutional Backing, as GMGI balances 85% insider ownership with growing institutional investment, ensuring leadership alignment and market liquidity.
• Diversified and Innovative Portfolio - Proprietary technology through Meridianbet and operations across 25+ countries provides stability and constant revenue growth
• GMGI combines strict compliance, market diversification, and resilience, making it a compelling investment in the gaming sector.

Click image above to view full announcement.

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Founded in 2001 and part of the Golden Matrix (NASDAQ: GMGI), Meridianbet Group is a well-established online sports betting and gaming group, licensed and/or currently operating in 17 jurisdictions across Europe, Africa, and South America. Meridianbet's successful business model utilizes proprietary technology and scalable systems, thus allowing it to operate in multiple countries and currencies and with an omni-channel approach to markets, including retail, desktop online, and mobile.

Contact information:
Milan Koricanac, Head of Global PR
milan.koricanac@meridianbet.com

Source: Meridianbet Group

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231887

FAQ

What is the current insider ownership percentage of Golden Matrix Group (GMGI)?

Following the Meridianbet acquisition, Golden Matrix Group (GMGI) has 85% insider ownership.

How many jurisdictions does Meridianbet operate in after being acquired by GMGI?

Meridianbet operates in 17 jurisdictions across Europe, Africa, and South America.

What are the main operational channels of Meridianbet under GMGI?

Meridianbet operates through multiple channels including retail, desktop online, and mobile platforms.

When was Meridianbet, now part of GMGI, founded?

Meridianbet was founded in 2001.