MeridianBet Group, a leading player in the iGaming sector, shares insights into its corporate advancements and the pending acquisition by Golden Matrix Group Inc. (GMGI), unveiling a dynamic outlook for its future.
Originally announced on January 12, 2023, the acquisition agreement between Golden Matrix Group Inc. and MeridianBet Group was anticipated to conclude by the first half of 2023. However, owing to several adjustments and amendments, the two groups now project the closure to take place in the first quarter of 2024, shaping a new trajectory for their combined operations. The acquisition, valued at approximately $300 million, will culminate through a blend of cash and stock transactions, marking a significant milestone for both companies.
Zoran Milosevic, CEO of MeridianBet Group, expressed satisfaction with the company’s year-on-year operational performance and expansion into burgeoning regulated markets. Milosevic emphasized, “We are extremely pleased with our strong year-on-year operating results and continued expansion into new regulated markets.”
He further highlighted the significance of recent legislation in Brazil, a prominent gambling market, and its implications for the company’s future endeavors, saying, “We are especially excited about the recent legislation for online casino and sportsbook in Brazil one of the world’s largest gambling markets. We look forward to the completion of the acquisition by Golden Matrix, now expected in the first quarter of 2024, and how the combined company will offer state-of-the-art B2B and B2C gaming platforms in multiple jurisdictions worldwide.”
Subsequent to that occasion, the corporate report detailed MeridianBet’s noteworthy financial growth, including a 25% surge in revenue, a 10% increase in EBITDA, and a 6% rise in net profit, all compared year-on-year. Additionally, MeridianBet’s proprietary platform, Atlas, successfully launched in 40% of the projected jurisdictions. Presently operating in 15 jurisdictions across Europe, Africa, and South Africa, MeridianBet anticipates securing a license for South Africa by Q1 2024, expanding its foothold in key markets.
The iGaming group has also fortified its presence by establishing partnerships with 36 new media companies and integrating products with six online casino platforms, solidifying its position in the industry.
Milosevic underscored the strategic significance of the impending acquisition, noting, “The completion of this acquisition will drive long-term value for all our stakeholders as we benefit from economies of scale and from both companies’ historical revenue and profit growth.”
As MeridianBet Group progresses towards the finalization of the acquisition by Golden Matrix Group Inc., the amalgamation of their strengths and market expansions anticipates a synergistic impact, charting a course for sustained growth and innovation in the dynamic iGaming landscape.
