S8UL strengthens its EWC roster following the announcement of their participation in multiple titles, including Chess, EAFC 25, Tekken 8, Call of Duty (COD): Warzone, and Apex Legends Mumbai, May 8, 2025: S8UL, a global force in esports and gaming content, is proud to announce its entry into the legendary world of StarCraft II with the signing of veteran South Korean player Pyung Jae Koh, better known by his iconic gamer tag GuMiho, a.k.a. “The Towel Terran.”

This marks S8UL’s first foray into the real-time strategy (RTS) genre and signals its continued commitment to global expansion across esports titles that have defined competitive gaming history.

A fan-favorite and master tactician, GuMiho is recognised across the global StarCraft community for his creative playstyle, unorthodox strategies, and trailblazing use of mech-based unit compositions. A staple of the Global StarCraft II League (GSL) since the Wings of Liberty era, GuMiho rose to global prominence after winning the GSL Code S

Advertisement

Championship in 2017, defeating soO in a 4–2 final that etched his name in StarCraft history. His unique style of playing with a towel draped over his hands to absorb sweat and maintain precision earned him the moniker “The Towel Terran,” while his dominance with mechanical Terran builds gave rise to another title: “The Mech God.”

GuMiho’s recent achievements reaffirm his elite status in the competitive StarCraft II scene. In December 2024, he edged out Protoss standout Clem in a tense 3–2 series at HomeStory Cup XXVI, building on the momentum of his nail-biting 4–3 grand final victory over ShoWTimE (also Protoss) at HomeStory Cup XXV just months earlier. Earlier in the year, he delivered a commanding run to the finals of WardiTV 2023, ultimately finishing second after a hard-fought series against Zerg titan Dark. These standout results reinforce GuMiho’s reputation as one of the scene’s most resilient and inventive players, proving that even after years at the top, he continues to evolve and compete at the highest level.

Speaking about his new journey with S8UL, GuMiho said: “Joining S8UL feels like stepping onto a new playing field with the same hunger to win. Their drive to break barriers in esports matches my own competitive spirit. I’m ready to give it my all and compete at the highest level again, this time with S8UL by my side.”

Animesh Agarwal a.k.a. 8Bit Thug, Co-founder and CEO of S8UL, commented on the signing: “GuMiho is a living legend, and we’re beyond thrilled to welcome him to the S8UL family. Our journey into StarCraft II is about paying homage to the roots of esports and competing with the best. GuMiho’s legacy of innovation, consistency, and competitive spirit embodies everything S8UL stands for. This is a proud moment for Indian esports as we strengthen our EWC aspirations with one of the game’s all-time greats.”

As S8UL prepares to compete across multiple titles at EWC 2025, including Apex Legends, EAFC 25, Call of Duty: Warzone, Tekken 8, Chess, and now StarCraft II, the organization continues to demonstrate that excellence in esports knows no borders, no genres, and no limits.

Advertisement

With three consecutive ‘Esports Content Group of the Year’ wins at the Esports Awards and global recognition through initiatives like the MOBIES Global Impact Award, S8UL is now writing a new chapter in the global esports story.

FBMDS, the industry leader in Video Bingo, is raising the stakes with a never-before-seen jackpot dynamic in the industry designed to enhance engagement, increase player retention, and drive profitability for online casino operators.

This exclusive jackpot system, available only in FBMDS’ video bingo gaming portfolio, creates a more immersive and rewarding experience, reinforcing the company’s influence in this category. With more prize opportunities and an adaptive jackpot that grows with player bets, the new system introduces an unmatched level of thrill to online Video Bingo in the industry. The new FBMDS Video Bingo jackpot system offers:

• Exclusive Jackpot – FBMDS is the only casino gaming provider that offers jackpots in the video bingo segment, offering innovative solutions which will make your portfolio standout.
• Higher Player Engagement – Players stay more engaged with dynamic jackpot growth and frequent prize opportunities.
• Proportional Betting Impact – The more players bet, the more exciting the jackpot becomes, increasing anticipation and excitement.
• Stronger Operator Performance – Enhanced retention and player satisfaction drive longer play sessions and revenue growth.
• Leading Video Bingo – FBMDS solidifies its leadership with the only Video Bingo jackpot of its kind.

“We are committed to continuously innovating in Video Bingo, and this new jackpot system is a game-changer for both operators and players,” said Renato Almeida, Director at FBMDS. “By delivering a more interactive and rewarding experience, we’re reinforcing our market leadership and giving operators a powerful tool to attract and retain players like we haven’t yet seen happening in the market”.

FBMDS has always been at the forefront of Video Bingo innovation, and this new jackpot system is proof to its commitment to elevating player experiences. These jackpots create a more immersive, dynamic, and engaging gameplay, ensuring more thrilling moments and increased loyalty.

Advertisement

As part of its global expansion strategy, FBMDS is entering key markets like Brazil, where Video Bingo has a passionate player base, and where it has taken a part on SBC Summit Rio’s event. The company is also preparing to reveal new game releases, further strengthening its diverse and engaging portfolio.

For operators looking to attract and retain Video Bingo players with the most exciting jackpot mechanics on the market, now is the time to partner with FBMDS.

Golden Matrix Group Inc. (NASDAQ: GMGI) (“Golden Matrix” or the “Company”), a developer, licensor, and global operator of online gaming platforms, today announced financial and operational results for the first quarter ended March 31, 2025. The quarter reflects the Company’s strong group execution, platform innovation, and continued expansion across regulated gaming markets.

Brian Goodman, CEO of Golden Matrix, commented, “We entered fiscal 2025 with elevated operating efficiency and diversified revenue streams that continue to scale across high-growth markets. Our raffle segment reached all-time highs, our debt profile strengthened meaningfully, and our B2B and B2C businesses are both operating from positions of renewed financial and strategic strength.”

Financial and Strategic Highlights

Advertisement

• Record Raffle Segment Performance: The Company’s raffle businesses reported all-time highs in revenue, ticket sales, and prize values. User growth surged 146% year-over-year, with 26,000 new registrations in Q1.

• Strategic Balance Sheet Optimization: GMGI eliminated approximately $9.6 million in Lind Global debt and converted over $9.5 million in Meridianbet acquisition-related debt into equity this year, enhancing financial flexibility.

• Revenue Growth: Q1 2025 consolidated revenue was $42.7 million, up 72% year-over-year, partially impacted by a negative 4% FX headwind

• Gross Profit: Gross profit reached $24.2 million, with a consolidated gross margin of approximately 57%. Meridianbet gross margin improved to 72%, while the combined GMAG and Rkings/CFAC segments improved to 29%.

• The Company had a net loss of $300,000 or a 0-cent loss per share. This was a decline of $4.2 million, or 5-cents a share, from the same period last year. The decline was due to an increase in acquisition-related amortization of $1.7 million, interest expense of $1.5 million, and stock-based compensation of $1 million.

• Adjusted EBITDA(1) declined by $0.3 million, or 5%, to $5.6 million, as increased gross profit was offset by an operating spend increase to expand our business geographically, improve our market share, and advance our gaming technology in support of full-year growth initiatives.

• Brazil: Secured a permanent online betting license, unlocking full national access in a projected $5.6 billion gross gaming revenue market for 2025.

• Africa: Launched B2B operations in Nigeria through a fully licensed local entity, entering one of Africa’s most dynamic gaming economies.

• Serbia: Renewed a 10-year online license, preserving regulatory continuity in a mature and profitable core market.

• User Metrics: First-time deposits grew 56%, new registrations rose 22%, and total deposits increased 12% compared to Q1 2024.

• Expanse Studios: Meridianbet’s proprietary game development arm expanded its North American footprint with five new integrations into U.S.-based sweepstakes casinos. The studio also advanced its in-house content roadmap, including an enhanced crash games portfolio and anticipates licensing in Romania for Q2.

Financial Outlook

Golden Matrix expects full-year 2025 revenue to range between $190 million and $195 million, reflecting a growth rate of 26% to 29% over 2024. The Company continues to invest in technology, content, and international licenses to drive long-term shareholder value.

Rich Christensen, CFO of Golden Matrix, added, “We’re executing on disciplined capital allocation and long-term strategic investments. Our improving net leverage, healthy free cash flow, and scalable platform position us to accelerate growth across 2025 and beyond.”

Advertisement

(1)Adjusted EBITDA is a non-GAAP financial measure. See also “Non-GAAP Financial Measures” and “Reconciliation of Net Income to Adjusted Earnings excluding Interest Expense, Interest Income, Tax, Depreciation Expense, Amortization Expense, Stock-based Compensation Expense and Restructuring Costs”, included in the tables at the end of this release.

In terms of GAAP accounting and Meridianbet being the accounting acquirer, the comparisons presented are correctly stated and are reflective of our new structure. Comparisons presented in terms of GAAP are the consolidated Company’s results against Meridianbet Group historical results and not against Golden Matrix Group’s, historical results.

The full visual presentation and the earnings call can be accessed at 8:00am ET on the Golden Matrix Group IR website at goldenmatrix.com/events-presentations/.

For more information, please visit goldenmatrix.com.

 

Advertisement