illuminated Trail Advertisement
AD
Maltadaily News

Golden Matrix Reports $43M In Q1 Revenue, 72% QoQ Growth

Golden Matrix Reports $43M In Q1 Revenue, 72% QoQ Growth
Local

Early debt repayment, three new markets, and U.S. market entry highlight a strong start to 2025.

Golden Matrix Group (NASDAQ: GMGI), the U.S.-based owner of Meridianbet, has reported strong Q1 2025 results, reinforcing its position as one of the fastest-growing gaming groups across regulated international markets.

Q1 2025 Highlights

– Revenue: $42.7 million → +72% YoY

– Gross Profit: $24.2 million with a consolidated margin of 57%

– Raffle segment: All-time high user growth, +146% new registrations

– 2025 guidance: Projected revenue of ~$200 million

– Ongoing investments in technology, licensing, and proprietary gaming content https://x.com/meridianbet_ofc/status/1920462020962357299

Golden Matrix Reports $43M In Q1 Revenue, 72% QoQ Growth

Prudent Capital Management

Despite already maintaining a low debt-to-capital ratio, the company further reduced leverage through the early repayment of $9.6 million in debt and the conversion of an additional $9.5 million in acquisition-related liabilities into equity.

These obligations were originally taken on to support strategic growth through acquisitions. Their elimination further enhances GMGI’s financial flexibility as a Nasdaq-listed company.

Meridianbet – Focused Growth and New Licenses

Zoran Milosevic, CEO of Meridianbet, summarized a quarter marked by licensing momentum and operational expansion across key markets:

– Brazil: Secured a permanent sports betting license in a $5.6B+ GGR market, along with a B2B license for iGaming content production

– Nigeria: Official launch of operations in one of Africa’s largest gaming economies

– Serbia: Renewal of the national online gaming license for an additional 10 years

Golden Matrix Reports $43M In Q1 Revenue, 72% QoQ Growth
Golden Matrix Reports $43M In Q1 Revenue, 72% QoQ Growth

Expanse Studios Expands into U.S. Market

Meridianbet’s in-house game development arm, Expanse Studios, completed five new integrations with U.S.-based sweepstakes casino platforms.

The studio also advanced its crash games portfolio, while licensing in Romania is expected to be secured during Q2 2025.

For more information, please visit:

goldenmatrix.com

ir.meridianbet.com

https://x.com/meridianbet_ofc

https://x.com/GMGI_Official

#MaltaDaily