Golden Matrix Group, a prominent developer and operator of online gaming and eCommerce platforms, has announced preliminary revenue estimates of over $39 million for the second quarter ending June 30, 2024. This marks a significant milestone for the company, as it is the first reporting period to include consolidated revenues from Golden Matrix and MeridianBet Group following their acquisition in April.
Golden Matrix Group Reports Preliminary Q2 2024 Revenue Estimates of Over $39 Million
Consolidated Revenues
The integration of MeridianBet Group into Golden Matrix has played a pivotal role in achieving the impressive revenue estimates. The acquisition, valued at $300 million, has expanded Golden Matrix’s footprint in the global gaming market.
RKingsCompetitions’ Record Performance
RKingsCompetitions, acquired by Golden Matrix in 2022, reported its highest quarterly revenues to date. This success is attributed to the rollout of new technology and an updated website, enhancing user experience and engagement.
MeridianBet Group’s Global Expansion
MeridianBet Group continued to grow its global operations, securing licenses in South Africa and Peru. These new markets are expected to further boost the company’s revenue streams and market presence.
Sportsbook Performance in Brazil
The sportsbook operations in Brazil reported wagers totaling $14.7 million for Q2 2024, reflecting a 13% increase from the previous quarter. This growth underscores the increasing popularity and acceptance of sports betting in the region.
Expanse Studios’ Growth and New Partnership
Expanse Studios, a key part of MeridianBet’s portfolio, saw a 26% revenue increase from Q1 2024. Additionally, the studio announced a strategic partnership with Betika, positioning it for further growth and market penetration.
Shareholder Confidence
Aleksandar Milovanović, the largest shareholder of Golden Matrix, converted $4 million of deferred debt into common stock at $3 per share. This move indicates strong confidence in the company’s future performance and growth prospects.
Strategic Focus and Future Plans
Golden Matrix Group remains committed to strengthening its business-to-business (B2B) and business-to-consumer (B2C) segments. The company is actively evaluating potential acquisition opportunities to further enhance its growth and market position.
Upcoming Financial Report
The detailed financial results for Q2 2024 will be available in Golden Matrix’s Quarterly Report on Form 10-Q, which is expected to be filed with the Securities and Exchange Commission by August 14, 2024.
Conclusion: The Preliminary Revenue
Golden Matrix Group’s preliminary revenue estimates for Q2 2024 highlight the company’s robust growth and successful integration of MeridianBet Group. With record performance from RKingsCompetitions, strategic global expansions, and significant shareholder confidence, Golden Matrix is well-positioned for continued success in the dynamic online gaming and eCommerce landscape. As the company looks to the future, its strategic focus on B2B and B2C segments, coupled with potential acquisitions, will be key drivers of sustained growth.
FAQs About Golden Matrix Group Reports Preliminary Q2 2024 Revenue
1. What are the preliminary revenue estimates for Golden Matrix Group in Q2 2024?
Golden Matrix Group announced preliminary revenue estimates of over $39 million for the second quarter ending June 30, 2024.
2. Which acquisition contributed significantly to the Q2 2024 revenue?
The acquisition of MeridianBet Group in April 2024 significantly contributed to the Q2 2024 revenue.
3. How much was the acquisition deal for MeridianBet Group valued at?
The acquisition deal for MeridianBet Group was valued at $300 million.
4. What achievement did RKingsCompetitions report in Q2 2024?
RKingsCompetitions reported its highest quarterly revenues to date, attributed to the rollout of new technology and an updated website.
5. Which new markets did MeridianBet Group secure licenses in during Q2 2024?
MeridianBet Group secured licenses in South Africa and Peru during Q2 2024.
6. What was the total amount of wagers reported by the sportsbook operations in Brazil for Q2 2024?
The sportsbook operations in Brazil reported wagers totaling $14.7 million for Q2 2024.
7. What was the percentage increase in wagers for the sportsbook operations in Brazil from the previous quarter?
There was a 13% increase in wagers for the sportsbook operations in Brazil from the previous quarter.
8. How much did Expanse Studios’ revenue increase from Q1 2024 to Q2 2024?
Expanse Studios’ revenue increased by 26% from Q1 2024 to Q2 2024.
9. What new partnership did Expanse Studios announce in Q2 2024?
Expanse Studios announced a strategic partnership with Betika in Q2 2024.
10. How much deferred debt did Aleksandar Milovanović convert into common stock?
Aleksandar Milovanović converted $4 million of deferred debt into common stock.
11. At what price per share did Aleksandar Milovanović convert his deferred debt?
Aleksandar Milovanović converted his deferred debt at $3 per share.
12. What are Golden Matrix Group’s strategic focuses moving forward?
Golden Matrix Group is focusing on strengthening its business-to-business (B2B) and business-to-consumer (B2C) segments and evaluating potential acquisition opportunities to enhance growth.
13. When will the detailed financial results for Q2 2024 be available?
The detailed financial results for Q2 2024 will be available in Golden Matrix’s Quarterly Report on Form 10-Q, expected to be filed with the Securities and Exchange Commission by August 14, 2024.
