Golden Matrix, a rapidly growing company, has finally completed its acquisition of MeridanBet Group, a significant event that was approved by the Golden Matrix Board of Directors and shareholders on 19 March, 2024. The agreement for this acquisition was first signed over a year ago, on 12 January 2023, with the deal valued at $300m. This amount was paid through a combination of cash, debt, and stock transactions.
The acquisition was initially expected to close in the first half of 2023. However, several amendments to the agreement caused a delay. Despite the delay, the completion of this acquisition is seen as a momentous occasion by Brian Goodman, the CEO of Golden Matrix. He believes that this event will result in a fundamental and transformational change for their rapidly growing company.
From acquisition to consolidation
The consolidated businesses are expected to deliver significant increases in both revenues and profitability. With this acquisition, Golden Matrix believes they are now well-positioned to continue their growth trajectory and deliver incremental value to all their stakeholders. The combined company will continue to trade on Nasdaq under the previous Golden Matrix ticker, GMGI.
MeridianBet Group, founded in 2001, is an online sports betting and gaming group. It has gained licensing to operate across 15 jurisdictions, including those in Europe, Africa, and South America. Prior to the deal closing, MeridanBet Group posted an update on its corporate progress and expectations.
Zoran Milosevic, the CEO of MeridianBet Group, expressed his pleasure with their strong year-on-year operating results and continued expansion into new regulated markets. He is especially excited about the recent legislation for online casino and sportsbook in Brazil, one of the world’s largest gambling markets.
With the completion of the acquisition by Golden Matrix, now expected in the first quarter of 2024, the combined company is anticipated to offer state-of-the-art B2B and B2C gaming platforms in multiple jurisdictions worldwide. This acquisition signifies a significant milestone in the growth and expansion of both Golden Matrix and MeridianBet Group.
