Golden Matrix Group Reports Strong Q1, Expands Global Gaming Footprint
TL;DR
Golden Matrix Group Inc. reported record revenue growth of 72% in Q1, enhancing financial flexibility and positioning for further market expansion.
Golden Matrix Group Inc. achieved a 57% consolidated gross margin with improved segment margins, reflecting strong operational efficiency and strategic financial management.
Golden Matrix Group Inc.'s continued growth and innovation in online gaming platforms aim to provide users with enhanced gaming experiences and drive long-term shareholder value.
Meridianbet secured a permanent online betting license in Brazil, expanded B2B operations in Nigeria, and renewed a 10-year online license in Serbia, showcasing its global market presence and strategic growth initiatives.
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Golden Matrix Group Inc. reported robust first-quarter financial results, highlighting significant strategic advancements and market expansion across its gaming operations. The company's consolidated revenue reached $42.7 million in Q1 2025, representing a 72% year-over-year increase, despite a 4% negative foreign exchange impact.
The company's raffle segment demonstrated exceptional performance, with user growth surging 146% and 26,000 new registrations. Notably, Golden Matrix successfully eliminated approximately $9.6 million in Lind Global debt and converted over $9.5 million in Meridianbet acquisition-related debt into equity, enhancing its financial flexibility.
Meridianbet, a key subsidiary, secured strategic market positions in multiple regions. The company obtained a permanent online betting license in Brazil, a market projected to generate $5.6 billion in gross gaming revenue for 2025. Additionally, Meridianbet launched B2B operations in Nigeria and renewed its 10-year online license in Serbia, further solidifying its international presence.
The company's financial outlook remains strong, with projected full-year 2025 revenue between $190 million and $195 million, representing 26% to 29% growth over 2024. Golden Matrix continues to invest in technology, content, and international licenses to drive long-term shareholder value.
CFO Rich Christensen emphasized the company's disciplined capital allocation and strategic investments, highlighting improving net leverage and healthy free cash flow as key factors positioning Golden Matrix for accelerated growth throughout 2025 and beyond.
Curated from NewMediaWire
