Early financial data released by Golden Matrix shows that a record revenue rise is being driven by the company’s recent $300 million acquisition of MeridianBet. Even while the business won’t release its complete Q2 statistics until mid-August, these early findings show notable growth.
April saw the completion of Golden Matrix’s acquisition of MeridianBet, which resulted in two months of higher revenue. MeridianBet has made significant strides in its global expansion, having recently won licenses in Peru and South Africa. The business also runs a sportsbook in Brazil; in the second quarter, handle of $14.7 million was recorded, indicating a 13% rise from the previous quarter. Golden Matrix expects further expansion following the January 2025 debut of Brazil’s regulated market.
MeridianBet’s B2B segment is also thriving, with a 26% revenue increase from Q1. Early in Q2, Expanse Studios partnered with Betika to enter the Kenyan market, which boasts high internet penetration and a growing online industry.
Golden Matrix CEO Brian Goodman expressed optimism about the acquisition, stating, “Our acquisition of MeridianBet Group is off to a great start, with this strong initial quarter and expectations for continued growth of revenues and profits for the foreseeable future.”
RKings Acquisition Shows Promising Results
The 2022 acquisition of prize draw experts RKings by Golden Matrix is also paying off. Since the acquisition, RKings has had its best revenue performance because to investments in technology and products.
Furthermore, Golden Matrix declared that Aleksandar Milovanović, the company’s biggest single stakeholder, had converted $4 million in deferred debt into $3 shares of common stock. This action demonstrates faith in the business’s abilities and prospects.
Goodman emphasized the company’s commitment to growth, saying, “We plan to continue to work to strengthen our B2B and B2C segments worldwide. We are currently evaluating acquisition opportunities which we hope will further boost our strong core business growth and overall financial performance.”
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