Golden Matrix Group Inc., online gaming and ecommerce developer, licensor and global operator, agreed to enter into an acquisition agreement with MeridianBet Group, a leading B2C sports betting and gaming group in Southeast Europe. The expected value of the transaction is about $300 million.
Access to the new markets:
After the acquisition, GMGI will gain access to new regulated markets. These fast-growing markets have experienced double-digit growth in the last two years with the help of over 1.000 MeridianBet employees.
If everything goes according to the plan, the acquisition will be completed during the first half of the year.
The acquisition will help in supporting more than 600 third-party casino brands on various platforms, as well as more than 3.5 million retail customers. This will help GMGI grow both through further acquisitions and organically. The company also plans to support various online and retail technology solutions.
MeridianBet is present in many fast-growing markets in Europe, Latin America, and Africa. The company’s growth in the fiscal year 2022, compared to 2021, was over 38%. On the other hand, Golden Matrix has about 6.8 million users on its B2B gaming platforms. Naturally, because of this partnership, it is expected that the worth of both companies will increase in market share.
The acquisition which will bring success to both companies:
Golden Matrix is a Nasdaq company that strategically expands in a sustainable way, and MeridianBet is well-known as a profitable company that will provide its partner with valuable expertise and assets.
Brian Goodman, CEO of Golden Matrix, commented on the partnership: “We are thrilled to announce our entry into a purchase agreement with the shareholders of MeridianBet Group. We believe that this acquisition will provide us entry into a well-established and highly scalable B2C vertical in new markets outside of our core markets. MeridianBet Group appealed to us with its proven business model that emphasizes organic growth, resilience to external economic factors, and exceptional products and technology.
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, Chief Executive Officer of MeridianBet Group, said: “From the perspective of MeridianBet Group, the strategic rationale behind the deal and becoming part of a Nasdaq-listed company is to be more competitive and successful in Brazil, the United States and other large markets – where market entry for private companies is more challenging. We are confident the best days of sports betting and online casinos are yet to come, with gaming regulation rolling out globally, creating opportunities for us to expand into these emerging markets.”