{"id":5081,"date":"2023-07-04T06:36:02","date_gmt":"2023-07-04T06:36:02","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/07\/04\/golden-matrix-group-inc-gmgi-and-meridianbet-group-revise-acquisition-agreement\/"},"modified":"2023-07-04T06:36:02","modified_gmt":"2023-07-04T06:36:02","slug":"golden-matrix-group-inc-gmgi-and-meridianbet-group-revise-acquisition-agreement","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/07\/04\/golden-matrix-group-inc-gmgi-and-meridianbet-group-revise-acquisition-agreement\/","title":{"rendered":"Golden Matrix Group Inc. (GMGI) and MeridianBet Group Revise Acquisition Agreement"},"content":{"rendered":"<div>\n<p>Golden Matrix Group Inc. (GMGI) and MeridianBet Group have announced revisions to their definitive agreement, which was originally concluded earlier this year. The new agreement extends the transaction\u2019s completion date and makes changes to key clauses.<\/p>\n<p>The initial arrangement called for Las Vegas-based GMGI to pay around $300 million for the Malta-based online sports betting and gaming firm, which operates in 15 nations across Europe, Africa, and South America. The agreement called for a $70 million cash payment and the issue of 65.3 million common shares to MeridianBet owners at a predetermined price of $3.50 per share.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow noopener\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins in Aztec Magic Deluxe\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>The cash payable upon transaction conclusion has been reduced from $50 million to $30 million in the modified agreement, but the non-contingent cash consideration of $20 million remains. Furthermore, the stock component of the transaction has been increased to 82,141,857 common shares payable at closure. Anthony Goodman, CEO of GMGI, stated that the revised cash and stock transaction is now worth approximately $331 million, with the equity consideration priced at $3 per share. This is a 38% premium over GMGI\u2019s 30-day volume-weighted average price.<\/p>\n<p>MeridianBet\u2019s excellent year-to-date revenues, according to Goodman, accounted for the enhanced total price consideration. The acquisition is now expected to produce roughly $31 million in Adjusted EBITDA and $139 million in revenues for the fiscal year ending October 31, 2023, according to the company\u2019s financial statements and projections.<\/p>\n<p>Positive Prospects for the Acquisition Goodman voiced confidence in the acquisition\u2019s worth, highlighting the enormous financial and operational benefits it will bring to GMGI. The company\u2019s management believes the transaction will provide long-term value for all stakeholders.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow noopener\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Welcome Bonus &#8211; 125% bonus on your first deposit up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Transaction Closure and Shareholder Approval GMGI is actively exploring financing options to meet the transaction\u2019s requirements and plans to file the required proxy statement for shareholder approval in the third quarter of 2023. MeridianBet\u2019s acquisition is expected to close in the third or fourth quarter, depending on different closing circumstances.<\/p>\n<p>Market Expansion and Projections MeridianBet Group\u2019s purchase will provide GMGI with access to developing and quickly increasing regulated B2C markets in Eastern Europe. According to Statista, this market is predicted to reach $895 million in 2023 and $1.23 billion by 2027.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/casino-news\/golden-matrix-group-inc-gmgi-and-meridianbet-group-revise-acquisition-agreement\/\">Golden Matrix Group Inc. (GMGI) and MeridianBet Group Revise Acquisition Agreement<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Golden Matrix Group Inc. (GMGI) and MeridianBet Group have announced revisions to their definitive agreement, which was originally concluded earlier this year. The new agreement extends the transaction\u2019s completion date and makes changes to key clauses. The initial arrangement called for Las Vegas-based GMGI to pay around $300 million for the Malta-based online sports betting [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-5081","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5081","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=5081"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5081\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=5081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=5081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=5081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}