Golden Matrix Expands Global Gaming Footprint with Strong Q1 Performance and Strategic Debt Reduction
TL;DR
Golden Matrix Group Inc. reported record revenue growth of 72% in Q1, enhancing financial flexibility and positioning for further market expansion.
Golden Matrix Group Inc. achieved a 57% consolidated gross margin with improved segment margins, reflecting strong operational efficiency and strategic financial management.
Golden Matrix Group Inc.'s continued growth and innovation in online gaming platforms aim to provide users with enhanced gaming experiences and drive long-term shareholder value.
Meridianbet secured a permanent online betting license in Brazil, expanded B2B operations in Nigeria, and renewed a 10-year online license in Serbia, showcasing its global market presence and strategic growth initiatives.
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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.
Curated from NewMediaWire
