Welcome to our dedicated page for Meridian Holdings news (Ticker: MRDN), a resource for investors and traders seeking the latest updates and insights on Meridian Holdings stock.
Meridian Holdings Inc. reports developments in B2B and B2C online gaming, including sports betting, casino operations, proprietary gaming content and platform licensing. The company, formerly Golden Matrix Group, operates through Meridianbet Group, Expanse Studios, GMAG, RKings Competitions, Mexplay and Classics for a Cause across regulated international markets.
Recurring news themes include operating and financial results, profitability trends, balance-sheet changes, product and platform upgrades, regulated-market activity, governance matters and capital actions. Coverage also reflects the completed corporate rebrand to Meridian Holdings and the alignment of the public company identity with the Meridianbet operating brand.
Golden Matrix Group (GMGI), a gaming technology company, has partnered with IBN to enhance corporate communications. This collaboration aims to leverage IBN's extensive investor network to promote GMGI's online gaming solutions, particularly in the Asia-Pacific market. Golden Matrix's GM-X and GM-Ag systems provide over 10,000 games to more than 6 million players and support over 500 unique casino brands. The partnership is expected to increase brand awareness and drive growth in online gaming, which is anticipated to gain market share from traditional casinos.
Golden Matrix Group (NASDAQ: GMGI) announced the launch of its GMX-Ag system with eight online casino operators across six countries, enhancing its B2B offerings. CEO Brian Goodman emphasized this strategic expansion into new markets, especially outside the traditional Asia Pacific region. The company acquired an 80% stake in RKings Competitions Ltd., contributing to significant revenue growth of 355% in Q1 2022, totaling $8.88 million. GMGI's recent Nasdaq uplisting is seen as a catalyst for future acquisitions and growth plans.
Golden Matrix Group has received approval from The Nasdaq Stock Market to list its common stock on the Nasdaq Capital Market, trading under symbol GMGI, effective March 17, 2022. CEO Brian Goodman emphasized that this uplisting is crucial for enhancing visibility and expanding their stakeholder base, aiming to bolster long-term shareholder value. The company focuses on developing online gaming platforms, targeting new global markets to accelerate revenue and profit growth through acquisitions.
Golden Matrix Group Inc. (OTCQX:GMGI) announced its common shares will commence trading on Nasdaq starting March 17, 2022. The company specializes in developing online gaming platforms and has a robust presence in the Asia Pacific region. GMGI provides customizable social gaming platforms for its international clients, along with tools for user acquisition and monetization. The company complies with US laws by automatically declining gaming requests from within the US, ensuring legal adherence while expanding its market footprint.
Golden Matrix Group (OTCQX:GMGI) reported record revenues of $8,877,105 for Q1 ended January 31, 2022, marking a 355% increase from $1,951,406 in the same quarter last year. The net income rose to $349,379 compared to $52,158 a year earlier. Cash-on-hand stands at $15,242,266, with total assets of $32,134,960 and liabilities of $4,557,195. GMGI has recorded 14 consecutive quarters of profitability, driven by growth in its B2B segment and contributions from the recently acquired RKings, contributing $5.5 million to revenues.
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.