Golden Matrix Group Inc. (NASDAQ: GMGI) demonstrated substantial financial growth in 2024, reporting full-year revenues of $151 million, representing a 63% increase from the previous year. The company’s fourth-quarter performance was particularly strong, with revenues surging 81% to $46 million.
CEO Brian Goodman highlighted the company’s strategic achievements, including key acquisitions of Meridianbet and Classics for a Cause, which contributed to the significant revenue expansion. These strategic moves, combined with AI-powered platform enhancements, have positioned Golden Matrix for sustained success in the competitive online gaming market.
Notable operational highlights include Meridianbet’s 14% full-year revenue growth, with online revenue increasing 18% to $80 million. The company’s B2B gaming platform, GMAG, saw wagering volume increase by 84% to $4.7 billion, driven by innovative AI engagement tools.
Despite the revenue growth, the company experienced a net loss of $1.5 million for the full year, primarily attributable to acquisition-related expenses, stock-based compensation, and restructuring costs. However, when adjusting for these factors, the company’s Adjusted EBITDA rose 4% to $22.2 million.
Looking forward, Golden Matrix expects robust growth in 2025, with projected first-quarter revenues between $42 million and $45 million, representing a potential year-over-year increase of 69% to 80%. The company’s strategic priorities include expanding into new regulated markets, enhancing AI-driven gaming innovations, and pursuing strategic acquisitions to increase market share.
Key subsidiaries like RKings Competitions, Classics for a Cause, MexPlay, and Expanse Studios have all demonstrated significant growth. Expanse Studios, for instance, expanded its game portfolio to 55 proprietary titles and achieved 174% revenue growth in 2024.
With a strong cash reserve of $30 million and a clear strategic vision, Golden Matrix Group appears well-positioned to continue its growth trajectory in the dynamic online gaming industry.
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