Golden Matrix Group, a global online gaming platform developer, announced record financial results for 2024, highlighting significant revenue growth and strategic market positioning. The company's full-year revenue surged 63% to $151 million, with fourth-quarter revenues climbing 81% to $46 million.
CEO Brian Goodman emphasized the company's successful scaling of iGaming and sports betting operations, attributing the growth to strategic acquisitions of Meridianbet and Classics for a Cause, alongside AI-powered platform improvements. Despite a net loss of $1.5 million, largely due to acquisition-related expenses, the company's adjusted EBITDA rose 4% to $22.2 million for the full year.
Key operational achievements include Meridianbet's 14% revenue growth, GMAG B2B gaming platform's 84% wagering volume increase, and Expanse Studios' 174% revenue expansion. The company launched four new proprietary games and expanded its portfolio to 55 titles.
Looking forward, Golden Matrix anticipates first-quarter 2025 revenues between $42 million and $45 million, representing potential year-over-year growth of 69% to 80%. Strategic priorities include expanding into new regulated markets, enhancing AI-driven gaming innovations, and pursuing strategic acquisitions to increase market share.
With $30 million in cash reserves and a strong balance sheet, the company appears well-positioned to continue its growth trajectory in the competitive online gaming landscape.
