Meridian Bet Provides Update on Corporate Progress and Pending Acquisition

VALETTA, Malta, Jan. 08, 2024 (GLOBE NEWSWIRE) — The MeridianBet Group (Meridian), one of Southeast Europe’s leading business-to-consumer (B2C) sports betting and gaming groups, operating in multiple markets across Europe, Africa and Latin America, today provided a review of the company’s growth and progess in 2023, and an update on the pending acquisition of Meridian by Golden Matrix Group, Inc. (NASDAQ: GMGI).

Meridian achieved about 25 percent revenue growth in 2023 – compared with revenue growth of 24 percent in the prior year, as well as increases in EBITDA and Net Profit of around 10% and 6%, respectively, compared with the prior year – as a result of significant new product offerings and continued expansion into regulated jurisdictions:

• Meridians’s new and advanced proprietary gaming platform, Atlas, successfully rolled out in 40 percent of all territories;
• Meridian launched seven new advanced slot games that received nearly 100 positive casino reviews;
• WinGo, a new numbers game created by Meridian’s Expanse Studios, generated ticket sales of about $2 million in November, a 55.4% increase on $1.28 million recorded in September;
• Meridian launched partnerships with 36 new media outlets and integrations with six new online casino platforms;
• Streamlined registration and deposit steps were implemented to improve user experience, engagement and satisfaction;
• As a founding member of the European Organization for Gaming Law (EOGL) based in EU capital Brussels, Meridian will be involved in legislative and regulatory discussions and play a key role in shaping industry standards EU and worldwide;
• Meridian is licensed and currently operating in 15 jurisdictions across Europe, Africa and South America. A significant addition includes Kenya, one of the largest gaming markets in Africa; and management expects a license to operate in South Africa to be granted to Meridian in Q1 ’24;
• Additionally, Brazil has recently approved regulations that will allow licensed operators to operate both Sportsbooks and Online Casinos. Meridian has already established fully operational Casino and Sportsbook operations in Brazil and has submitted an expression of interest, the first step in obtaining a Brazilian gaming license;

The revenue in the Online Gambling market in Brazil is projected to reach US$1.97bn in 2024, and the market is expected to continue growing at an annual growth rate of 16.51% from 2024 to 2028.**

** Statista – Online Gambling – Brazil November 2023.

According to MeridianBet Group’s CEO, Zoran Milosevic, “We are extremely pleased with our strong year-on-year operating results and continued expansion into new regulated markets. We are especially excited about the recent legislation for Online Casino and Sportsbook in Brazil one of the worlds 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. 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.”

About MeridianBet Group

Founded in 2001, the MeridianBet Group is a well-established online sports betting and gaming group, licensed and currently operating in 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. For more information, visit https://ir.meridianbet.com.

About Golden Matrix

Golden Matrix Group, Inc., (NASDAQ: GMGI), based in Las Vegas NV, is an established business-to-business (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. 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.

Connect with us:

The MeridianBet Group
Contact: ir@meridianbet.com   

Twitter (X): https://twitter.com/meridianbet_ofc

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b080a0f1-e30f-437f-9cc9-22bc97c37c74