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Golden Matrix Enters Into Definitive Agreement to Acquire a Controlling Interest in Australian-Based Classics for a Cause

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Golden Matrix Group, Inc. (Nasdaq: GMGI) (“GMGI” or the “Company”), a developer and licensor of online gaming platforms, systems and gaming content, today announced that it has entered into a definitive agreement to acquire an indirect 80% controlling interest in Classics for a Cause Pty Ltd (“CFAC”), a leading independent online discount platform in Australia.

This strategic acquisition marks GMGI’s entry into the consumer loyalty and rewards industry, complementing its existing operations in the gaming and sports betting sectors and solidifying its position as a premier tournament operator. Moreover, it provides a significant opportunity to scale CFAC’s business and expand the firm’s operations globally.

CFAC operates a well-established business-to-consumer (B2C) platform that offers paid members access to a wide range of discounts from retailers across Australia. The company rewards its members with free entries into promotional giveaways, which feature luxury, high-end American and Australian classic cars, caravans and campers as well as cash and vacation giveaways.

Business Highlights:

  • CFAC generated over $10 million in revenue and more than $1.9 million in operating profit before tax* for the 12-month fiscal year ending June 30, 2024.
  • CFAC has generated considerable free cash flow over the last two fiscal years.
  • The company boasts a social media following exceeding 50,000 and a customer base of more than 300,000, with over 10,000 active monthly subscribers.
  • Recurring monthly subscribers contribute over 30% of CFAC’s total revenue.

*Net operating income before tax calculated for the 12-month period ending June 30th 2024. Financials presented in Australian Dollars and written on a cash basis. With cash basis accounting, revenue and expenses are recorded when cash is received or paid out. Post transaction financials will be presented in terms of GAAP and presented on an accrual basis.

Under the terms of the agreement, GMGI will acquire its 80% stake in the entity which owns CFAC at a purchase price representing a multiple of roughly 5x profits before tax, declared for fiscal year ending June 30th 2024, totalling approximately $8.4 million inclusive of the earnout component. Of this amount, 70% will be paid in cash, with the remaining 30% settled through the issuance of restricted shares of GMGI common stock. The agreement includes provisions for a holdback amount and an earnout, contingent upon CFAC meeting certain post-closing profit targets. Additionally, GMGI will inherit a call option to acquire the remaining 20% minority interest.

The acquisition is subject to customary closing conditions, expected to be fulfilled within the next several days, with an effective date of August 1, 2024.

Commenting on the acquisition, Brian Goodman, CEO of Golden Matrix, said, “We are thrilled to proceed with this acquisition as it aligns perfectly with our strategy of acquiring profitable and accretive businesses. Our previous acquisition of RKings Competitions has been a phenomenal success, significantly contributing to our revenues and profits, and we anticipate similar results with CFAC. CFAC will provide a strong foundation to build on, as was the case with RKings, and we expect this acquisition will not only enhance our revenue and cash flow but will also add to our bottom-line profitability. We are confident in our ability to scale CFAC, implement cost efficiencies, upgrade its technology and further strengthen its free cash flow.”

Thomas Bailey, founder of CFAC, added, “We are incredibly excited to join forces with GMGI and contribute to their ongoing success. This partnership offers a significant opportunity to expand CFAC into new markets and elevate the company to new heights.”

Thomas Bailey will continue in an executive role with CFAC, where he will oversee the company’s growth and lead the roadmap for its planned expansion into the U.S. Tom co-founded CFAC in 2019 to support Australian veteran charity programs. Over the past decade, he has played a pivotal role in successfully establishing over 14 start-ups and has a strong background in marketing and implementing growth strategies.

According to Research and Markets, the consumer loyalty and rewards market will continue to grow and is forecasted to record a CAGR of 9.5% from 2024-2028, as well as an increase from $3.64 billion in 2023 to $5.79 billion by 2028.

For full details of the purchase agreement and related terms, please refer to the Current Report on Form 8-K filed today with the Securities and Exchange Commission.

 

Australia

Regulating the Game Rolls Out Four-Level Partnership Structure Ahead of Sydney 2027 Program

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Regulating the Game has announced an updated partnership framework for the 2027 initiative, organized into four levels — Principal Partner, Signature Partners, Pillar Partners, and Activation Partners — aimed at providing sponsors a more defined connection with the conference, the RTG Global Awards, and the delegate experience.

The updated architecture showcases significant involvement in 2026 and mirrors the widened scope of the 2027 program, which encompasses a more extensive conference agenda and the growth of the RTG Global Awards from six to twelve categories.

Regulating the Game 2027 Sydney is scheduled for 8–10 March 2027 at the Sofitel Sydney Wentworth, featuring the RTG Global Awards ceremony on 9 March 2027.

A more distinct connection between partner funding and program worth.Every level is designed to correspond with the delegates’ experience of the program — starting with the conference opening, through Pitch!, the main program, the Global Awards Gala Dinner, and concluding the event. The goal is to minimize overlapping propositions, enhance category positioning, and achieve partnership results that are clear, traceable, and aligned with the program’s core.

• Principal Partner — The lead partner of the Regulating the Game 2027 program, with prominence across the conference, the Global Awards and the delegate journey. Reserved as a singular position.
• Signature Partners — A small group of premium partners aligned with flagship program elements, including Pitch!, the Global Awards Gala Dinner and other headline moments of the 2027 program.
• Pillar Partners — Partners aligned with the core thematic pillars of the Regulating the Game program: regulation and policy, compliance and integrity, safer gambling, and technology and innovation.
• Activation Partners — Partners supporting specific delegate touchpoints and experiences across the program, with visibility tied to defined activations.

A maturing global program

The 2027 program builds on the trajectory established in 2026, which saw strong international participation, the inaugural RTG Global Awards and the Pitch! showcase that brought together established providers and emerging RegTech disruptors. The expanded 2027 awards program — with six new categories including Black Market Disruption Initiative, Sport & Wagering Integrity Initiative, Research Impact, Gambling Harm Prevention Campaign, Compliance Advisory and Distinguished Contribution — broadens the recognition framework across the sector.
“The 2027 architecture reflects the maturity of the Regulating the Game program — a global conference, an expanded awards program and a delegate community that spans regulators, sector leaders, technology and research across multiple jurisdictions,” said Paul Newson, Principal at Vanguard Overwatch and Founder of Regulating the Game.

“Partners increasingly want a clearer line of sight to value, audience and alignment. The four-tier model is designed to provide that — fewer overlapping propositions, clearer category positioning, and partnerships that map to how the program is actually experienced by delegates.”

Partner engagement now open

Partnership conversations for the 2027 program are now open. Organisations interested in any of the four tiers are invited to make contact through Regulating the Game to discuss alignment, availability and entitlements.

Event Details
Regulating the Game 2027 Sydney 8–10 March 2027 Sofitel Sydney Wentworth, Sydney, Australia
RTG Global Awards Presentation 9 March 2027

The post Regulating the Game Rolls Out Four-Level Partnership Structure Ahead of Sydney 2027 Program appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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IGS Awarded 15-Year Electronic Gaming Machine Monitoring Licence in Victoria

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Bally’s Intralot S.A. (Bally’s Intralot) has announced that its Australian subsidiary, Intralot Gaming Services (IGS) has been awarded a new 15-year Electronic Gaming Machine (EGM) Monitoring Licence for the State of Victoria, effective 16 August 2027.

This landmark award positions Bally’s Intralot to deliver a new generation of technology, transparency and collaboration to one of the world’s most mature and highly regulated gaming markets.

Approximately 26,300 EGMs will be connected to the Monitoring System which will provide a vital role in ensuring the ongoing integrity of EGM transactions in gaming venues. It will also provide data and information on EGMs for regulatory, harm minimisation, taxation and research purposes.

Under the licence, IGS will also be responsible for the delivery, operation and maintenance of the statewide Pre-commitment System for all EGMs in Victoria, including 2628 EGMs at the Melbourne casino.

A New Technology Era for Victoria

IGS will deploy a next-generation, cloud-enabled monitoring platform designed to deliver:

• Real-time monitoring and reporting

• Advanced data analytics capabilities

• Best-in-class cybersecurity protections

• Scalable architecture to support evolving regulatory requirements

• Future-ready integration enabling seamless connectivity with venues, manufacturers and regulatory systems

“This award represents a major milestone for Bally’s Intralot and IGS and is a significant investment in the future of Victoria’s gaming technology infrastructure. We look forward to working with the Victorian Government, the Victorian Gambling and Casino Control Commission, and industry stakeholders to deliver a secure and transparent monitoring system that supports integrity and player protection,” said Robeson Reeves, CEO of the Bally’s Intralot Group.

IGS and Bally’s Intralot will commence planning and stakeholder engagement in the coming months to support a carefully managed, smooth and seamless transition.

The post IGS Awarded 15-Year Electronic Gaming Machine Monitoring Licence in Victoria appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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RWA: Gambling Ad Crackdown Threatens Shift Offshore

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Responsible Wagering Australia (RWA) has voiced deep disappointment over the Federal Government’s decision to further restrict gambling advertising without industry consultation. The group is now seeking urgent clarity to understand the full impact on the sector.

RWA CEO Kai Cantwell said their members have a track record of supporting and leading sensible and evidence based reform.

“We acknowledge advertising levels were too high in the past but we’ve listened and we’ve acted by taking steps to significantly reduce the total volume of ads” Mr Cantwell said.

“Beyond advertising, we have supported major reforms including the implementation of BetStop and strengthened consumer protection measures across the system.

“But this announcement, with no heads up and no genuine consultation, is a real kick in the guts for the industry.

“This sector contributes almost $6 billion to the Australian economy, supports around 30,000 jobs, and provides critical funding to sport, racing and broadcast industries across the country.”

“Decisions of this scale must be evidence based and developed with industry to avoid unintended consequences.

“For an industry that has engaged in good faith and delivered meaningful reform, this announcement today is disappointing.

“This sets a dangerous precedent. Today it’s gambling advertising, tomorrow it’s alcohol, then it’s sugary drinks, fast food, critical minerals and who knows what else comes next.

“This package of measures even seeks to go further than the Murphy Inquiry with the banning of online Keno and goes beyond the remit of the Federal

Government by phasing out jersey and stadium advertising.”

Responsible Wagering Australia also acknowledged the Government’s proposed crackdown on the illegal offshore gambling market which is costing Australians almost $4 billion each year and growing at 2.5x the rate of the legal licensed and regulated market.

“The test is whether these measures are strong, coordinated and enforceable.

“There is no silver bullet. These operators are highly sophisticated and will stop at nothing to target Australians and evade enforcement.

“To effectively tackle the issue there must be a sustained, coordinated approach that cuts them off at the source including payment blocking by financial institutions, stronger regulatory powers for the ACMA, and action to remove their presence online and across social media. The Government must consult with the industry to get this right and it must be the priority going forward.

“If the licensed market is overregulated, Australians won’t stop gambling. They will go offshore to operators with no consumer protections, no oversight, and no contribution to the Australian economy, sport or racing.”

RWA said it stands ready to engage constructively with Government on both advertising settings and offshore enforcement to ensure policy outcomes that reduce harm and protect Australians.

The post RWA: Gambling Ad Crackdown Threatens Shift Offshore appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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