Online gaming operator Golden Matrix Group (GMGI) announced that it will acquire MeridianBet Group in a cash and stock transaction valued at around $300 million. The deal will be completed during the first half of 2023 and will give GMGI access to regulated B2C markets. The combined revenue of the merged company is expected to exceed $100 million with an EBITDA estimated to be more than $22 million. Both brands will be retained.
The merged entity will have access to new and emerging markets and will support 600 third party casino brands on proprietary platforms with over 3.5 million registered B2C customers.
Founded in 2001, the MeridianBet Group is a well-established online sports betting and gaming group licensed and currently operating in more than 15 jurisdictions across Europe, Africa and South America. It reported revenue growth of 38 percent YoY for 2022. Headquartered in Malta, Golden Matrix supports B2B gaming platforms with over 6.8 million registered users. It trades on Nasdaq as GMGI and this deal will bring long term value for shareholders.
Comments on the acquisition from CEOs
Brian Goodman, CEO of Golden Matrix said, “We are pleased to be on the path to completing this acquisition and look forward to strengthening and growing our position in the global online betting and gaming industry, expanding into new regulated markets, and maintaining our ongoing drive to scale the business as a whole at a rapid growth rate. MeridianBet Group’s regional market strength, brand awareness and proprietary technology solutions across the enlarged group are also expected to further accelerate our growth and expansion into new territories.”
Zoran Milosevic, CEO of MeridianBet Group commented: “Our brands, which are well known among worldwide online betting and gaming communities, are stronger together; and I am looking forward to working closely with Brian Goodman as we conclude the acquisition. I would like to take this opportunity to express my gratitude to Brian for his hard work and determination, in what has been a testing global macro economic environment for all. I thank the entire GMGI and MeridianBet team for their dedication and commitment to finalize this agreement. We are excited about the many opportunities we can pursue together in the years ahead, and we look forward to updating shareholders and employees on our progress and working towards closing the acquisition and continuing as a combined group.”