via NewMediaWire – Golden Matrix Group Inc.
(NASDAQ:GMGI),
developer, licensor and global operator of online gaming and
eCommerce platforms, systems and gaming content, today said that
Meridianbet, one of Europe’s leading European sports betting
operators, has been offering “unparalleled betting options”
throughout the NCAA March Madness in over 15 jurisdictions
worldwide, with more than 200 odds per game, and at highly
competitive odds compared to US-based sportsbooks.
On January 12, 2023, Golden Matrix announced it had entered into
a definitive agreement to acquire Meridianbet Group and its related
companies in a cash and stock transaction valued at approximately
$300 million.
Meridianbet understands that variety is essential, which is why
the company offers a vast array of betting options for NCAA March
Madness. From predicting the winner of each game to betting on
total points, rebounds or assists, there is something for everyone.
Meridianbet also provides expert analysis to help bettors make
informed decisions and offers unique betting options to cater to
all preferences.
“We are excited that Meridianbet has become one of the best
providers of sports betting options for major events, first with
the Super Bowl and now March Madness,” said Golden Matrix CEO Brian
Goodman. “It is yet another indication of how popular and
successful Meridianbet has become with its online sportsbook and
online casino operations in multiple jurisdictions. Once completed,
our acquisition of Meridianbet will greatly expand GMGI’s global
footprint and have a significant positive impact on both revenues
and profitability.”
The acquisition is expected to close in the first half of 2023,
subject to customary conditions to closing, including GMGI raising
required funding, completion of due diligence, GMGI shareholder
approval, and regulatory approvals.
About Meridianbet
Established in 2001, Meridianbet Group is a leading online
sports betting and gaming group, licensed and operating in more
than 15 jurisdictions across Europe, Africa, and South America. The
Meridianbet Group's successful business model utilizes proprietary
technology and scalable systems, allowing it to operate in multiple
countries and currencies with an omni-channel approach to markets,
including retail, desktop online, and mobile.
For more information, visit https://ir.meridianbet.com.
Twitter - https://twitter.com/meridianbet_ofc
Contact: ir@meridianbet.com
Disclaimer: Sports betting services are not legal in all
locations. Gamblers must comply with applicable laws and
regulations where they reside.
About Golden Matrix
Golden Matrix Group, based in Las Vegas NV, is an established
B2B and B2C gaming technology company operating across multiple
international markets. The B2B division of Golden Matrix develops
and licenses proprietary gaming platforms for its extensive list of
clients and RKings, its B2C division, operates a high-volume
eCommerce site enabling end users to enter paid-for competitions on
its proprietary platform in authorized markets.
Our sophisticated software automatically declines any gaming or
redemption requests from within the United States, in strict
compliance with current US law.
Forward-Looking Statements
Certain statements made in this press release contain
forward-looking information within the meaning of applicable
securities laws, including within the meaning of the Private
Securities Litigation Reform Act of 1995 (“forward-looking
statements”). Words such as “strategy,” “expects,” “continues,”
“plans,” “anticipates,” “believes,” “would,” “will,” “estimates,”
“intends,” “projects,” “goals,” “targets” and other words of
similar meaning are intended to identify forward-looking statements
but are not the exclusive means of identifying these
statements.
Important factors that may cause actual results and outcomes to
differ materially from those contained in such forward-looking
statements include, without limitation, the ability of the parties
to close the Meridian Bet Purchase Agreement (the “Purchase
Agreement”) on the terms set forth in, and pursuant to the required
timing set forth in, the Purchase Agreement, if at all; the
occurrence of any event, change or other circumstances that could
give rise to the right of one or all of the shareholders of
MeridianBet Group or GMGI (collectively, the “Purchase Agreement
Parties”) to terminate the Purchase Agreement; the effect of such
termination, including breakup and other fees potentially payable
in connection therewith; the outcome of any legal proceedings that
may be instituted against Purchase Agreement Parties or their
respective directors or officers; the ability to obtain regulatory
and other approvals and meet other closing conditions to the
Purchase Agreement on a timely basis or at all, including the risk
that regulatory and other approvals required for the Purchase
Agreement are not obtained on a timely basis or at all, or are
obtained subject to conditions that are not anticipated or the
expected benefits of the transaction; the ability of GMGI to obtain
the funding required to complete such acquisition, the terms of
such funding, potential dilution caused thereby and/or covenants
agreed to in connection therewith; the ability to obtain approval
by GMGI’s shareholders on the expected schedule of the transactions
contemplated by the Purchase Agreement; potential adverse reactions
or changes to business relationships resulting from the
announcement or completion of the Purchase Agreement; the ability
of GMGI to retain and hire key personnel; the diversion of
management’s attention from ongoing business operations; the
expected synergistic relationships and cost savings from the
transactions contemplated by the Purchase Agreement; uncertainty as
to the long-term value of the common stock of GMGI following the
closing of the Purchase Agreement; the business, economic and
political conditions in the markets in which the Purchase Agreement
Parties operate; the impact of the COVID-19 pandemic on GMGI; the
effect on GMGI and its operations of the ongoing Ukraine/Russia
conflict, increased interest rates, recessions and increased
inflation; the need for additional financing, the terms of such
financing and the availability of such financing; the ability of
GMGI and/or its subsidiaries to obtain additional gaming licenses;
the ability of GMGI to manage growth; GMGI’s ability to complete
acquisitions and the available funding for such acquisitions;
disruptions caused by acquisitions; dilution caused by fund
raising, the conversion of outstanding preferred stock and/or
acquisitions; GMGI’s ability to maintain the listing of its common
stock on the Nasdaq Capital Market; GMGI’s expectations for future
growth, revenues, and profitability; GMGI’s expectations regarding
future plans and timing thereof; GMGI’s reliance on its management;
the fact that GMGI’s chief executive officer has voting control
over GMGI; related party relationships; the potential effect of
economic downturns, recessions, increases in interest rates and
inflation, and market conditions, decreases in discretionary
spending and therefore demand for our products, and increases in
the cost of capital, related thereto, among other affects thereof,
on GMGI’s operations and prospects; GMGI’s ability to protect
proprietary information; the ability of GMGI to compete in its
market; GMGI’s prior lack of effective internal controls; dilution
caused by efforts to obtain additional financing; the effect of
current and future regulation, GMGI’s ability to comply with
regulations and potential penalties in the event it fails to comply
with such regulations and changes in the enforcement and
interpretation of existing laws and regulations and the adoption of
new laws and regulations that may unfavorably impact our business;
the risks associated with gaming fraud, user cheating and
cyber-attacks; risks associated with systems failures and failures
of technology and infrastructure on which GMGI’s programs rely;
foreign exchange and currency risks; the outcome of contingencies,
including legal proceedings in the normal course of business; the
ability to compete against existing and new competitors; the
ability to manage expenses associated with sales and marketing and
necessary general and administrative and technology investments;
and general consumer sentiment and economic conditions that may
affect levels of discretionary customer purchases of GMGI’s
products, including potential recessions and global economic
slowdowns. Although we believe that our plans, intentions and
expectations reflected in or suggested by the forward-looking
statements we make in this release are reasonable, we provide no
assurance that these plans, intentions or expectations will be
achieved.
Other important factors that may cause actual results and
outcomes to differ materially from those contained in the
forward-looking statements included in this communication are
described in GMGI’s publicly filed reports, including, but not
limited to, under the “Special Note Regarding Forward-Looking
Statements,” “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” sections
of GMGI’s periodic and current filings with the SEC, including the
Form 10-Qs and Form 10-Ks, including, but not limited to, GMGI’s
Annual Report on Form 10-K for the year ended October 31, 2022 and
its Quarterly Report on Form 10-Q for the quarter ended January 31,
2023. These reports are available at www.sec.gov.
The Company cautions that the foregoing list of important
factors is not complete, and does not undertake to update any
forward-looking statements except as required by applicable law.
All subsequent written and oral forward-looking statements
attributable to GMGI or any person acting on behalf of any Purchase
Agreement Parties are expressly qualified in their entirety by the
cautionary statements referenced above. Other unknown or
unpredictable factors also could have material adverse effects on
GMGI’s future results. The forward-looking statements included in
this press release are made only as of the date hereof. GMGI cannot
guarantee future results, levels of activity, performance or
achievements. Accordingly, you should not place undue reliance on
these forward-looking statements. Finally, GMGI undertakes no
obligation to update these statements after the date of this
release, except as required by law, and takes no obligation to
update or correct information prepared by third parties that is not
paid for by GMGI. If we update one or more forward-looking
statements, no inference should be drawn that we will make
additional updates with respect to those or other forward-looking
statements.
Connect with us:Twitter -
https://twitter.com/GMGI_OfficialInstagram -
https://www.instagram.com/goldenmatrixgroup/Golden Matrix
GroupContact: ir@goldenmatrix.com
Golden Matrix (NASDAQ:GMGI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Golden Matrix (NASDAQ:GMGI)
Historical Stock Chart
From Apr 2023 to Apr 2024