The GMGI Acquisition of Meridianbet Receives High Praise from IPO Edge

Esteemed financial analysts at IPO Edge recognize the merged GMGI and Meridianbet entity as a burgeoning global gaming leader with a promising financial outlook and innovation

LAS VEGAS and VALLETTA, Malta, April 11, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group, Inc. (NASDAQ: GMGI) and Meridianbet Group, the newly consolidated entity in online gaming world, are honored to receive positive analysis from IPO Edge, a leading portal known for its insightful and credible financial analyses.

The distinguished coverage highlighted the GMGI's acquisition of Meridianbet as having a significant potential to reshape the gaming landscape, focusing on the combined entity's strategic positioning for expansive growth and technological innovation.

IPO Edge Insights: A Testament to the Strategic Vision of Golden Matrix and Meridianbet

The recent article by IPO Edge analysts casts a spotlight on the strategic merits of the $300 million acquisition of Meridianbet Group by GMGI. According to the portal, this bold move is poised to establish a global gaming juggernaut, with projected sales reaching $182 million by 2025. The merger not only signifies a monumental leap in market expansion, spanning 15+ markets, including Serbia, Montenegro, and Bosnia, but also underscores the entity's prowess in emerging markets such as Mexico, Tanzania, and Peru.

A Story of Strategic Growth and Innovation

At the heart of the GMGI's acquisition of Meridianbet lies a shared commitment to innovation and customer satisfaction, as the combined group owns a scalable tech platform that leverages machine learning for continuous improvement, alongside unique betting features like Empty Bet, which empowers players to craft their own bets. This synergy of technological advancement and market intelligence sets the stage for an unprecedented growth trajectory in the online gaming sector.

Financial Prudence and Future Prospects

Underscoring the merger's financial strategy, IPO Edge commends the conservative financing approach, with an anticipated 2x leverage post-merger. This prudent fiscal management, coupled with the leadership of CEO Brian Goodman, enhances the company’s capacity for further strategic mergers and acquisitions. The valuation of the combined company at 5x 2025 Ebitda, as contrasted with its mainstream industry counterparts, further accentuates the attractive investment potential of GMGI.

Corporate Social Responsibility

The merger's dedication to corporate social responsibility, with initiatives aimed at converting players into patrons of meaningful CSR programs, distinguishes it beyond financials and market expansion. This commitment reflects a broader vision of achieving profitability while fostering a positive social impact.

The Market Potential Is Not Yet Anticipated

As pointed out by this analysis, the market may not fully recognize GMGI’s potential yet. The company has an enterprise value, adjusted for net debt of $400 million, only 5 times 2025 expected Ebitda. That compares with multiples of 8 times for Caesar’s Entertainment and a whopping 22 times for DraftKings, according to Sentieo, an AI-enabled research platform.

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About Meridianbet

Founded in 2001, the Meridianbet Group is a well-established online sports betting and gaming group, licensed and currently operating in more than 15 jurisdictions across Europe, Africa, and South America. The Meridianbet Group’s successful business model utilizes proprietary technology and scalable systems, thus allowing it to operate in multiple countries and currencies and with an omni-channel approach to markets, including retail, desktop online and mobile.

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About Golden Matrix

Golden Matrix Group, based in Las Vegas, NV, is an established B2B and B2C gaming technology company operating across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients, and RKings, its B2C division, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. Besides Meridianbet and Expanse Studios, the Company also owns and operates MEXPLAY, a regulated online casino in Mexico.

Our sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current US law.

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GMGI Meridianbet