Q&A: Golden Matrix Group CEO On Q2, Brazil, Diverse Offerings, And More

Brian Goodman, CEO of Golden Matrix Group, discusses with Gambling Insider the recent MeridianBet acquisition, the use of new technologies, and future plans for the latter half of 2024.

Can You Break Down Your Q2 Results For Us?

Comparing our Q2 results is a bit tricky due to the MeridianBet acquisition, which changed our financial reporting dynamics. Before the acquisition, our financial year-end and performance metrics were different. MeridianBet, being a larger entity, has now become the primary entity for financial reporting under SEC regulations. This means we are comparing our current numbers with Meridian’s previous figures, which did not include our data.

Historically, Golden Matrix transitioned from OTCQX to NASDAQ due to consistent profitability and success. The acquisition of RKings Competitions in the UK significantly boosted our revenue and profits. Now, with MeridianBet’s addition, our most recent revenues have seen a significant increase, with a 75% rise compared to the previous quarter. We’ve also acquired another tournament business in Australia, capitalizing on Australia’s major gaming market.

How Has The MeridianBet Acquisition Impacted Your Operations In The LatAm And African Markets?

MeridianBet operates in around 17 regulated markets globally and has plans to enter the American market. Their technology and experience in sportsbook operations are new assets for us, as we previously lacked in this area. Meridian’s global footprint and proprietary slot games will complement our existing offerings and distribution network, which includes over 800 operators and 2 million players. This positions us well for expansion into new markets, including the US and Brazil.

What Are Your Expectations For Your Brazilian Sportsbook With The Market’s Upcoming Regulation?

We’re optimistic about obtaining a license in Brazil, having recently completed the second round of qualifications. Our current operations in Brazil are performing well, and with Meridian’s expertise, we believe we will be competitive in this market.

What Prompted Your Stock Repurchase Program And How Do You Plan To Reflect On It By Next Year?

Stock repurchase programs are governed by strict SEC rules and can’t be executed during material information periods. We faced restrictions while finalizing the acquisition of the new tournament company. The program’s effectiveness will be evaluated as we continue to navigate these regulatory constraints.

How Do You Approach Developing B2B And B2C Content Across Various Markets?

Golden Matrix excels in both game content and systems, with a focus on customer retention through advanced loyalty systems. We utilize artificial intelligence to tailor offerings to player preferences, enhancing both player experience and business efficiency. Despite varied success rates of different games, our use of high-quality developers and solid game design principles helps us achieve success.

With The Highest Quarterly Revenue Reported For Q2 2024, What Are Golden Matrix’s Goals For The Second Half Of The Year?

Our core business has experienced strong growth, with double-digit increases across various metrics. Moving forward, we will maintain a conservative approach, avoiding acquisitions that are financially unstable. Our diverse portfolio across multiple gaming sectors and countries will continue to expand, including recent successes in Brazil and South Africa.