Golden Matrix Group (GMGI) Reports Strong Q2 2024 Results with Significant Contributions from Meridianbet

LAS VEGAS, NV, Aug. 13, 2024 – Golden Matrix Group Inc. (NASDAQ: GMGI), a leading developer and licensor of online gaming platforms, systems, and gaming content, has announced its financial results for the second quarter of 2024, showcasing robust growth across its business segments. Meridianbet, a key subsidiary of GMGI, played a crucial role in driving these impressive results.

Q2 2024: A Strong Quarter for GMGI

Golden Matrix Group’s consolidated revenue grew by an impressive 75% in Q2 2024, reaching $39.4 million, compared to the second quarter of 2023

Year-to-date (YTD) revenue for 2024 has also seen substantial growth, increasing by 41% to $64.3 million compared to the first half of 2023

The company’s consolidated gross profit for Q2 2024 rose by 31% to $21.7 million, with YTD gross profit up 17% to $39.4 million, both compared to the same periods in 2023

Despite the significant one-time costs associated with the Meridianbet acquisition, GMGI maintained a consistent Adjusted EBITDA (AEBITDA) of $5 million for the quarter, reflecting the company’s resilience and strategic execution

Meridianbet’s Contribution

Meridianbet, as part of the GMGI group, delivered strong performance in Q2 2024, further solidifying its position as a leading player in the online gaming and sports betting industry.

The revenue increased by 11.4% in Q2 2024 compared to Q2 2023

The online segment led the way with a 14% rise, while retail grew by 6%

Total deposits for the quarter amounted to $59.2 million, marking a 16% growth year-over-year

New online registrations also saw a significant increase, growing by 17% to 136,000

Online Casino Performance: The online casino sector recorded a 17% revenue growth in Q2 2024 compared to Q2 2023, fueled by the addition of approximately 1,500 new games

Sports betting revenue, including both retail and online, rose by 7.3% in Q2 2024 compared to Q2 2023

You can see the entire Q2 Results here.

About Meridianbet

Established in 2001, Meridianbet Group has grown into a prominent player in the online sports betting and gaming industry. With operations spanning 18 jurisdictions across Europe, Africa, and South America, the company has built a robust global presence. As a part of Golden Matrix Group (NASDAQ: GMGI), Meridianbet leverages cutting-edge proprietary technology to offer a seamless, multi-currency betting and iGaming experience across retail, desktop, and mobile platforms. Meridianbet’s operations in Malta, encompassing both B2C and B2B operations, fully align with its globally successful business model as it utilizes proprietary technology and scalable systems.

For further information, please visit:

ir.meridianbet.com

x.com/meridianbet_ofc