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Golden Matrix Group Inc., now operating under the Meridian Holdings Inc. name, reports developments tied to online sports betting, iGaming content, and gaming-platform licensing. The company’s B2B operations include proprietary gaming platforms and Expanse Studios content such as slots, crash games, table games, and gamified casino experiences, while its B2C operations include Meridianbet sports betting and gaming services in regulated international markets.
Recurring company news covers product launches, iGaming certifications, distribution partnerships, platform integrations, operating and financial results, governance matters, capital actions, and the completed corporate rebrand from Golden Matrix Group to Meridian Holdings.
Golden Matrix Group (OTCQX: GMGI) announced its application for a Mexican gaming license, aiming to expand igaming services in Latin America. CEO Brian Goodman emphasized the potential for significant revenue generation and profitability through the RKings tournament platform. The company reported record quarterly revenues for the first fiscal quarter ended January 31, 2022, bolstered by its acquisition of an 80% stake in RKings. Further operational details will be disclosed in the upcoming 10-Q filing by March 10, 2022.
Golden Matrix Group (GMGI) announced anticipated record quarterly revenues of approximately $7.7 million for Q1 FY2022, marking a 295% increase from $1.95 million in Q1 FY2021 and a 124% rise from the previous quarter.
The growth was driven by the acquisition of an 80% stake in UK-based RKingsCompetitions, contributing significantly to revenues through its B2C skill tournaments. GMGI's current cash position stands at $14.9 million, supporting future expansions and acquisitions.
Golden Matrix Group (OTCQX:GMGI) reported record revenues of $9,333,492 for the nine-month transition period ending October 31, 2021, marking a 185% increase from the prior year’s $3,271,653. Net income rose to $648,072, up from $345,922. Adjusted EBITDA reached $1,654,187. The company holds $16,797,656 in cash and total assets of $20,458,948. GMGI also entered the UK market through an acquisition, aiming for growth in B2C sectors. This expansion is expected to enhance revenue streams and provide significant operational benefits.
Golden Matrix Group (OTCQX: GMGI) announced an agreement to acquire an 80% controlling interest in UK-based RKingsCompetitions Ltd. for approximately $10.6 million. The purchase consists of 50% cash and the balance in GMGI stock valued at $8.00 per share. RKings generated over $29 million in revenue and $2.4 million in net income for the fiscal year ending October 31, 2021. The acquisition will expand GMGI’s market presence in the regulated B2C space and is expected to enhance revenue streams and profit margins.
Golden Matrix Group (GMGI) has closed a registered direct offering, selling approximately $3.5 million worth of common stock and warrants to institutional investors. The offering comprised 496,429 shares of common stock at $7.00 per share, accompanied by warrants exercisable at $8.63 per share. The net proceeds will be used for general corporate purposes and potential investments in complementary businesses, though no specific agreements are in place. EF Hutton acted as the exclusive placement agent. This offering was registered under an effective shelf registration statement with the SEC.
Golden Matrix Group Inc. (GMGI) announced a registered direct offering to raise $3.5 million by selling 496,429 shares of common stock and corresponding warrants. The shares will be sold at $7.00 each, with warrants exercisable at $8.63 for three years. The offering, facilitated by EF Hutton, is set to close around October 27, 2021, subject to customary conditions. The initiative follows an effective shelf registration statement filed on October 5, 2021.
Golden Matrix Group (OTCQX: GMGI) announced its upgrade to the OTCQX Best Market, the highest tier of OTC Markets, effective September 22, 2021. This milestone reflects the company's adherence to stringent financial standards and corporate governance. CEO Brian Goodman emphasized that the upgrade will enhance their visibility to potential gaming operators and investors, anticipating future growth opportunities. Golden Matrix is a provider of online gaming platforms and content, with a focus on international markets.
OTC Markets Group Inc. announced that Golden Matrix Group, Inc. has qualified to trade on the OTCQX Best Market, upgrading from the Pink market. This transition underscores Golden Matrix's compliance with high financial standards and corporate governance, enhancing visibility among U.S. investors. CEO Brian Goodman highlighted that this step is pivotal for the company's growth and aims to increase shareholder value. The trading under symbol GMGI commenced on September 22, 2021.
Golden Matrix Group (GMGI) reported record revenues of $3,251,182 in Q2 '22, marking a 211% increase from $1,045,425 in Q2 '21 and a 23% rise from Q1 '22 revenues of $2,639,402. The net income reached $481,189, up from $127,872 year-over-year. For the first half of fiscal '22, revenues totaled $5,890,584, a 231% increase compared to $1,780,189 in the same period last year. The company is expanding its seamless gaming platform aiming for global market penetration, particularly in Europe and the Americas.
Golden Matrix Group (OTC: GMGI) reported over $3 million in revenue for Q2 2021, marking a significant 200% increase from $1.05 million in Q2 2020. The company has initiated the rollout of its GMX-Ag platform, an innovative gaming system, in the Asia-Pacific region, with plans to onboard 14 additional operators. This platform allows seamless integration with various gaming products and is expected to enhance GMGI's global reach in fast-growing regulated markets.