LAS VEGAS, Nev., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group (NASDAQ: GMGI) ("GMGI" or the "Company"), a leading developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, today announced a substantial expansion to the width of the product lineup of its subsidiary, Meridianbet.
The expansion, powered by GMGI's proprietary software developed by its Meridianbet subsidiary, introduces approximately 170 new games with over 2,000 additional betting selections per each match. This strategic move is designed to broaden the Company's market appeal and increase user engagement, revenue streams and market share in respective jurisdictions.
The new offering introduces five game groups for each match: Players, Special, Corners, Cards, and Time Games. These additions provide users with a more comprehensive and immersive betting experience, potentially leading to increased user engagement and higher betting volumes.
"This expansion of our Meridianbet special offering represents a significant milestone in our product development strategy," said Brian Goodman, CEO of Golden Matrix Group Inc. "By leveraging our proprietary software capabilities, we've been able to create a more diverse and engaging betting experience for our users. We believe this enhancement will not only attract new customers but also increase the lifetime value of our existing user base, ultimately driving long-term shareholder value."
The expanded Meridian Special is now available for major European and global soccer leagues worldwide, including English Premier League, Spanish La Liga, Italian Serie A, German Bundesliga, French Ligue 1, UEFA Champions League, UEFA Europa League, UEFA Europa Conference League, Brazilian Serie A, Greek Superleague, Cypriot First Division and Belgian First Division A.
"Our ability to rapidly develop and deploy these new betting options demonstrates the flexibility and power of our proprietary technology stack. This agility allows us to quickly respond to market demands and stay ahead of industry trends, positioning GMGI for sustainable growth in the highly competitive online gaming sector," added Mr Goodman.
GMGI views this product expansion as a key component of its broader strategy to increase market share and enhance its competitive position in the global online gaming market. The Company continues to invest in its proprietary technology to drive innovation and create value for both users and shareholders.
For more information about Golden Matrix Group, Meridianbet and their product offerings, please visit https://goldenmatrix.com/ and ir.meridianbet.com.
About Golden Matrix Group
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 Group develops and licenses proprietary gaming platforms for its extensive list of clients and RKings' competitions, and its B2C division operates a high-volume eCommerce site enabling end users to enter skill-based tournaments and win prizes.
Our sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current US law.
About Meridianbet
Founded in 2001 and acquired by Golden Matrix in April 2024, Meridianbet Group is a well-established online sports betting and gaming group, licensed and/or currently operating in 17 jurisdictions across Europe, Africa, and South America. Meridianbet’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.
FORWARD-LOOKING STATEMENTS
Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements.
Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, the ability of the Company to obtain the funding required to pay certain Meridianbet Group acquisition post-closing obligations, the terms of such funding, potential dilution caused thereby and/or covenants agreed to in connection therewith; potential lawsuits regarding the acquisition; dilution caused by the terms of the Note and Warrant, the Company’s ability to pay amounts due under the Note and covenants associated therewith and penalties which could be due under the Note and securities purchase agreement for failure to comply with the terms thereof; the business, economic and political conditions in the markets in which the Company operates; the effect on the Company and its operations of the ongoing Ukraine/Russia conflict and the conflict in Israel, changing interest rates and inflation, and risks of recessions; the need for additional financing, the terms of such financing and the availability of such financing; the ability of the Company and/or its subsidiaries to obtain additional gaming licenses; the ability of the Company to manage growth; the Company’s ability to complete acquisitions and the availability of funding for such acquisitions; disruptions caused by acquisitions; dilution caused by fund raising, the conversion of outstanding preferred stock, convertible securities and/or acquisitions; the Company’s ability to maintain the listing of its common stock on the Nasdaq Capital Market; the Company’s expectations for future growth, revenues, and profitability; the Company’s expectations regarding future plans and timing thereof; the Company’s reliance on its management; the fact that the sellers of the Meridianbet Group hold voting control over the Company; related party relationships; the potential effect of economic downturns, recessions, increases in interest rates and inflation, and market conditions, decreases in discretionary spending and therefore demand for our products and services, and increases in the cost of capital, related thereto, among other affects thereof, on the Company’s operations and prospects; the Company’s ability to protect proprietary information; the ability of the Company to compete in its market; the effect of current and future regulation, the Company’s ability to comply with regulations and potential penalties in the event it fails to comply with such regulations and changes in the enforcement and interpretation of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our business; the risks associated with gaming fraud, user cheating and cyber-attacks; risks associated with systems failures and failures of technology and infrastructure on which the Company’s programs rely; foreign exchange and currency risks; the outcome of contingencies, including legal proceedings in the normal course of business; the ability to compete against existing and new competitors; the ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this press release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved.
Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company’s publicly-filed reports, including, but not limited to, under the “Special Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, including, but not limited to, the Company’s Annual Report on Form 10-K for the year ended October 31, 2023 and its Quarterly Report on Form 10-Q for the quarter ended January 31, 2024, and future periodic reports on Form 10-K and Form 10‑Q. These reports are available at www.sec.gov.
ICR:
Brett Milotte
Brett.Milotte@icrinc.com
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