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Golden Matrix Signs Agreement to Acquire MeridianBet Group

Published

2 years ago

January 12, 2023

Reading Time: 4 minutes

Golden Matrix Group, Inc., developer, licensor and global operator of online gaming and eCommerce platforms, systems, and gaming content, and MeridianBet Group, Southeast Europe’s leading business-to-consumer (B2C) sports betting and gaming group with headquarters in Malta, operating in multiple markets across Europe, Africa, and Latin America, today announced that GMGI has entered into a definitive acquisition agreement pursuant to which it has agreed to acquire MeridianBet Group and its related companies in a cash and stock transaction valued at approximately $300 million (the “Acquisition”).

The acquisition, when completed, will provide GMGI access to new and fast growing regulated B2C markets that have experienced double digit compound annual growth rates (CAGRs) since 2020[i], supported by a network of over 1,100 highly skilled MerdianBet professionals. The acquisition is expected to close in the first half of 2023, subject to customary conditions to closing, including GMGI raising required funding, completion of due diligence, GMGI shareholder approval, and regulatory approvals. The combined pro forma revenues of both companies are expected to be greater than $100 million in FY2022, with an EBITDA estimated to be greater than $22 million for the pro forma year ended 31 October, 2022, making the combination financially appealing and earnings-accretive.

Both companies plan to continue operating under their respective brands.

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Transaction Highlights

Creation of a combined group of profitable and cash positive companies, with enhanced buying power.
Access to new markets globally.
Increased competitive edge supporting over 600 third party casino brands on combined proprietary platforms and over 3.5 million registered retail customers in the B2C facing businesses.
Following the acquisition, GMGI expects to be positioned for growth, both organically and through further acquisitions, and through supported proprietary technology solutions across retail and online.
Following the acquisition, GMGI expects that synergetic growth opportunities will exist in core markets through the strong MeridianBet brand and growth prospects of other GMGI B2C brands and market entries.

Rationale for the Planned Acquisition

MeridianBet Group with a strong B2C presence in European, Latin America (LATAM), and African sports betting markets – and over 38% year-on-year revenue growth, Fiscal Year 2022 over 2021 – combined with Golden Matrix’s B2B gaming platforms supporting over 6.8 million registered users is expected to result in complementary aspects of the business and a significant increase in market share for both companies.

As a Nasdaq company, Golden Matrix has been seeking opportunities to grow and expand in a strategic and sustainable way. The acquisition of MeridianBet presents a unique opportunity for GMGI to achieve this growth while also gaining access to new markets and resources. Additionally, MeridianBet is a profitable and unique company, which is expected to bring valuable expertise and assets to the combined entity. Overall, the acquisition of MeridianBet is anticipated to bring significant benefits to GMGI from both a financial and operational standpoint, and GMGI’s management team is confident it will drive long-term value for shareholders.

Brian Goodman, CEO of Golden Matrix:

“We are thrilled to announce our entry into a purchase agreement with the shareholders of MeridianBet Group. We believe that this acquisition will provide us entry into a well-established and highly scalable B2C vertical in new markets outside of our core markets. MeridianBet Group appealed to us with its proven business model that emphasizes organic growth, resilience to external economic factors, and exceptional products and technology. We are pleased to be on the path to completing this acquisition and look forward to strengthening and growing our position in the global online betting and gaming industry, expanding into new regulated markets, and maintaining our ongoing drive to scale the business as a whole at a rapid growth rate. MeridianBet Group’s regional market strength, brand awareness and proprietary technology solutions across the enlarged group are also expected to further accelerate our growth and expansion into new territories.”

Commenting on the Acquisition, Zoran Milosevic, Chief Executive Officer of MeridianBet Group said:

“Today marks a major milestone for MeridianBet Group and its employees. As a public company traded on Nasdaq, in synergy with Golden Matrix, we expect to set an industry standard when it comes to worldwide gaming platforms and to be in an even stronger position to deliver on our aggressive growth strategy and expand into new markets, including Brazil and the US. Our brands, which are well known among worldwide online betting and gaming communities, are stronger together; and I am looking forward to working closely with Brian Goodman as we conclude the acquisition. I would like to take this opportunity to express my gratitude to Brian for his hard work and determination, in what has been a testing global macro economic environment for all. I thank the entire GMGI and MeridianBet team for their dedication and commitment to finalize this agreement. We are excited about the many opportunities we can pursue together in the years ahead, and we look forward to updating shareholders and employees on our progress and working towards closing the acquisition and continuing as a combined group.”

Terms of the Acquisition

The purchase price payable to MeridianBet Group shareholders will be satisfied by the issuance to MeridianBet stockholders of approximately 65.3 million common shares of GMGI, based on an agreed price of $3.50 per share, and $70 million in cash. Upon closing of the acquisition, the MeridianBet Group of companies will become wholly-owned subsidiaries of GMGI. The acquisition agreement has been approved by the Board of Directors of each company.

“From the perspective of MeridianBet Group,” added Mr. Milosevic, “the strategic rationale behind the deal and becoming part of a Nasdaq-listed company is to be more competitive and successful in Brazil, the United States and other large markets – where market entry for private companies is more challenging. We are confident the best days of sports betting and online casinos are yet to come, with gaming regulation rolling out globally, creating opportunities for us to expand into these emerging markets.”

No change in the Company’s name is planned in connection with the acquisition, and the Board structure is expected to remain the same, with the sole exception being Mr. William Scott joining as Chairman of the Board. Mr Scott is a seasoned veteran in the regulated gaming industry and is currently an advisor to MeridianBet Group.

Latest News

GGPoker Hosts Exclusive Online Satellites To WSOP Circuit Montreal

Published

4 hours ago

June 30, 2025

Zoltan Tundik

Reading Time: 2 minutes

Prestigious live poker event to run August 18 through September 2 at Playground, in Kahnawake

GGPoker, the World’s Biggest Poker Room, is excited to announce the launch of online satellite tournaments for the upcoming WSOP Circuit Montreal live poker festival, which runs August 18 through September 2 at Playground.

The online qualifiers launched across Canada on Sunday, June 15, with satellites expected to be made available in Ontario later today. Players can win their way into the WSOP-C Main Event for free, with multiple freeroll tournaments hosted at GGPoker.

The WSOP Circuit is one of the biggest and most popular live tournament series in the world, with more than $225M in prizes won during the most recent 2024/2025 season.

WSOP-C Montreal will be hosted at Playground, the award-winning gaming and entertainment destination located just minutes from downtown Montreal. At least $5M in prizes will be won over the course of the festival, which will be headlined by the WSOP-C Montreal Main Event:

Buy-In: $2,500
Guaranteed Prizes: $2.2M
Day 1 Flights: Day 1A on August 28, Day 1B on August 29 and Day 1C on August 30
Day 2: August 31
Final Day: September 1

Daniel Negreanu, GGPoker Global Ambassador, expressed his enthusiasm for WSOP Circuit Montreal: “I’m always pumped when WSOP events are held in Canada and the wonderful Canadian poker community gets to share in the thrills and excitement associated with the world’s top poker experience. Win your way in at GGPoker and take aim at at least $5M in prizes – it’s going to be great!”

“We are absolutely thrilled to host not only one, but two WSOP Circuit events at Playground this year!” said Playground’s Vice President of Gaming Operations, Ryan Bevens. “Playground has always been where poker dreams come true, and we look forward to welcoming players from across Canada and around the world to experience the excitement and prestige that only WSOP-C events bring. See you soon!”

Each GGPoker WSOP-C Montreal Main Event satellite winner will snag exclusive GGPoker-branded merchandise in addition to their $2,500 Main Event ticket.

WSOP Circuit Montreal will use the recently launched WSOP+ application to ensure that players enjoy the best experience possible. The application makes event registration, player tracking, and content sharing easier than ever before.

To register for WSOP-C Montreal Main Event satellite tournaments, please log in to GGPoker.

To learn more about WSOP-C Montreal at Playground, please visit: playground.ca/poker/tournaments/wsop-c-montreal-2025

Please note that all amounts mentioned in the above press release are denominated in Canadian dollars.

The post GGPoker Hosts Exclusive Online Satellites To WSOP Circuit Montreal appeared first on European Gaming Industry News.

Latest News

LGUs, state university get Php20-M emergency vehicles from PAGCOR

Published

4 hours ago

June 30, 2025

Zoltan Tundik

Reading Time: 2 minutes

The Philippine Amusement and Gaming Corporation on Thursday, June 26, turned over ten Patient Transport Vehicles (PTVs) worth Php20 million to several local government units and a state university to enhance their emergency medical services.

During the turnover ceremony at the PAGCOR Corporate Office in Pasay City, six PTVs were awarded to the municipalities of Palanan, Quezon, San Isidro, Cabagan, San Mariano, and San Pablo, all in Isabela province.

The City of Parañaque, the municipalities of Tanauan in Batangas and Balabac in Palawan as well as the Mariano Marcos State University (MMSU) in Ilocos Norte also received one PTV unit each.

Each vehicle is fitted with a GPS navigation system and essential medical equipment such as an ambulance stretcher, oxygen tank, wheelchair, and first aid kit.

PAGCOR Chairman and CEO Alejandro H. Tengco joins officials from nine local government units and the Mariano Marcos State University for a photo opportunity during the turnover of 10 Patient Transport Vehicles (PTVs) last June 26, 2025.

PAGCOR Chairman and CEO Alejandro H. Tengco said the PTV distribution is part of the agency’s efforts to improve healthcare delivery and to enhance access to medical services especially in geographically isolated communities.

“We want to ensure that even remote areas have the means to respond to medical emergencies. This is part of PAGCOR’s commitment to reach communities that need government support the most,” Mr. Tengco said.

“‘Yan po ang hangad ng PAGCOR; salamat sa pagkakataong makatulong at makapaglingkod sa inyo,” Mr. Tengco told the PTV recipients during the turnover event.

PAGCOR Vice President for the Corporate Social Responsibility Group Ramon Stephen Villaflor (2nd from left) and Assistant Vice President for Community Relations and Services Eric Balcos (far left) hand over the ceremonial vehicle key to Atty. Christopher A. Mamauag (3rd from left), Mayor of Cabagan, Isabela.

Mayor Christopher A. Mamauag of Cabagan, Isabela – a town where travel to tertiary hospitals takes several hours – expressed gratitude for the assistance and said the vehicle will significantly boost the town’s emergency response capabilities.

“Kami po ay nagpapasalamat kay President Ferdinand Marcos Jr., at sa PAGCOR, sa pamumuno ni Chairman Alejandro Tengco, sa pagpapaunlak sa aming kahilingan na magkaroon ng Patient Transport Vehicle para sa aming mga kababayan sa bayan ng Cabagan.

“Malaking tulong po ito at gagamitin namin ito ng wasto,” he said.

Each patient transport vehicle donated by PAGCOR is equipped with a GPS navigation system, an ambulance stretcher with mounted restraining system, medical oxygen, a wheelchair, and a first aid kit.

The post LGUs, state university get Php20-M emergency vehicles from PAGCOR appeared first on European Gaming Industry News.

Latest News

Evolution Launches First Live Casino Studio in the Philippines

Published

4 hours ago

June 30, 2025

Zoltan Tundik

Reading Time: < 1 minute

Evolution has announced that its first-ever live casino studio in Asia went live today.

Located in Cebu, the Philippines, the studio marks a significant milestone in Evolution’s Asia-Pacific expansion and serves the regulated Philippine online gaming market, which is the first licensed iGaming jurisdiction in Asia.

The new operation launches in partnership with One Visaya Gaming Corporation (OVG), an industry leading company which operates with strict adherence to PAGCOR’S (Philippines Amusement and Gaming Corporation) code of conduct. This collaboration allows Evolution to offer its trusted live casino content to operators licensed in the Philippines.

Evolution’s state-of-the-art live casino studio in Cebu will initially offer Baccarat tables. Lightning Roulette and other game shows — including Marble Race and the standout Super Color Game, designed especially for players in the Philippines — are due to launch later this year. This new studio marks a major step in Evolution’s commitment to delivering localised, fully compliant entertainment tailored to regional markets.

Gionata La Torre, Evolution’s Chief Executive Officer for Europe, said: “We’re proud to launch our first live casino studio in Asia in the Philippines and be part of its regulated online gaming market. This new studio is a major milestone in our long-term commitment to the region. Partnering with OVG allows us to deliver world-class live content tailored to local preferences through licensed operators.”

La Torre added: “With player favourites available from day one and more exciting titles on the way, our focus remains on quality, innovation, and localisation — the keys to building trust and lasting engagement in any market.”

For trade press and media enquiries, please contact:
Amy Riches, Head of Marketing, [email protected]

For investor enquiries, please contact:
Carl Linton, Head of Investor Relations, [email protected]

The post Evolution Launches First Live Casino Studio in the Philippines appeared first on European Gaming Industry News.