Online gaming technology company Golden Matrix Group demonstrated robust financial performance and strategic market expansion in its first quarter of 2025, reporting consolidated revenue of $42.7 million, a 72% year-over-year increase.
The company's strategic initiatives included debt elimination, with approximately $9.6 million in Lind Global debt removed and over $9.5 million in Meridianbet acquisition-related debt converted to equity. These financial maneuvers enhance the company's operational flexibility and balance sheet strength.
Meridianbet, a subsidiary, made significant geographical strides, securing a permanent online betting license in Brazil's projected $5.6 billion gross gaming revenue market and launching B2B operations in Nigeria. The company also renewed its 10-year online license in Serbia, reinforcing its presence in established markets.
User engagement metrics showed promising growth, with first-time deposits increasing 56%, new registrations rising 22%, and total deposits up 12% compared to the same period in 2024. The raffle segment particularly excelled, experiencing a 146% year-over-year user growth and 26,000 new registrations.
Looking forward, Golden Matrix anticipates full-year 2025 revenue between $190 million and $195 million, representing a 26% to 29% growth rate. The company continues investing in technology, content, and international licensing to drive long-term shareholder value.
