Meridianbet Powers Growth and Strong Performance in Q3 2024

Q3 2024 Results

Meridianbet Powers Growth and Strong Performance in Q3 2024

Q3 revenue up 16%, driven by online and retail success; positive momentum underpins record-setting year for Golden Matrix Group Inc.

Meridianbet, a subsidiary of Golden Matrix Group Inc. (NASDAQ: GMGI), reports strong Q3 results, reflecting robust growth across its online and retail segments. Our success continues to play a central role in Golden Matrix’s strategic objectives, contributing significantly to the Group’s Q3 2024 achievements and year-to-date revenue gains.

Key Meridianbet Highlights for Q3 2024

  • Revenue Growth: Meridianbet’s total revenue rose by 16% year-over-year, driven by a 19% increase in the online segment and a 6% increase in retail.
  • Player Engagement: Total deposits reached $61.9 million, up 13% quarter-over-quarter, with new online registrations up 23% to 125,000.
  • Gaming Performance: Online casino GGR margin increased to 3.37%, with sports betting GGR rising to 9.5%. Retail sports GGR recorded a remarkable 14.1% in August, marking a record month, while retail slot revenue grew by 17.5% year-over-year.

Zoran Milosevic, CEO of Meridianbet, stated, “This quarter has been pivotal for Meridianbet as we continue to leverage our advanced 5th generation platform to drive engagement and performance. Our streamlined operations and strategic acquisitions are delivering powerful synergies, setting us up for landmark growth in 2024.”

Golden Matrix’s Expanding Global Reach


Meridianbet’s impressive results contribute to Golden Matrix’s larger financial and operational success. Golden Matrix’s Q3 2024 consolidated revenue grew 85% to $41 million, with year-to-date revenue reaching $105.3 million, driven by sustained growth in multiple markets. The Group’s recent acquisitions, including Classics for a Cause in Australia, further expand its market reach and profitability.

Brian Goodman, CEO of Golden Matrix, added, “Golden Matrix’s Q3 results reflect our commitment to sustainable, long-term growth. Meridianbet’s strong performance across key metrics is a testament to the successful integration of our strategic assets and our competitive edge in iGaming technology.”

For further details on Golden Matrix’s Q3 performance, see the full report available on the SEC website at https://www.nasdaq.com/market-activity/stocks/gmgi/sec-filings.