Australia

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

Published

1 year ago

August 20, 2024

golden-matrix-enters-into-definitive-agreement-to-acquire-a-controlling-interest-in-australian-based-classics-for-a-cause

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

NSW: Hospitality and Racing Strategy 2026-28 and Regulatory Priorities 2026

Published

8 hours ago

February 18, 2026

Wladimir P.

nsw:-hospitality-and-racing-strategy-2026-28-and-regulatory-priorities-2026

Liquor & Gaming NSW has published the Hospitality and Racing Strategy 2026-28, setting a clear path for reducing harm, supporting responsible industry growth and meeting evolving community expectations. The Strategy outlines Hospitality and Racing’s vision, regulatory posture and strategic objectives.

It outlines three strategic objectives which will guide the work to support communities, individuals and the industry. The first is targeted harm reduction, using better data, education and engagement to focus on the areas where we can make the biggest difference.

The second is outcome‑focused, responsive regulation, by making use of streamlined, place‑based and community‑informed approaches that deliver meaningful, real-world outcomes.

Third is promoting modern tools, skilled teams and smart decisions, investing in its capability, improving how it uses data and supporting consistent decision making across hospitality and racing.

Regulatory Priorities 2026

Alongside the new strategy, Liquor & Gaming NSW has also issued its Regulatory Priorities 2026. This sets out where the department will be focusing its regulatory attention over course of the year. It provides transparency on Liquor & Gaming’s forward regulatory agenda and gives the industry the opportunity to proactively engage about the issues they are concerned about.

The post NSW: Hospitality and Racing Strategy 2026-28 and Regulatory Priorities 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

ACMA

ACMA Blocks More Illegal Online Gambling Websites

Published

2 days ago

February 16, 2026

Wladimir P.

acma-blocks-more-illegal-online-gambling-websites

The Australian Communications and Media Authority (ACMA) has requested the Australian internet service providers (ISPs) to block more illegal online gambling sites, after investigations found these services to be operating in breach of the Interactive Gambling Act 2001.

The latest sites blocked include:

Lucky Mate

Vegastars

Wombet

Cosmobet

Fortune Play

Fortunica

Rolletto

Velobet

Website blocking is one of a range of enforcement options to protect Australians against illegal online gambling. Since the ACMA made its first blocking request in November 2019, 1518 illegal gambling and affiliate websites have been blocked. Over 220 illegal services have also pulled out of the Australian market since the ACMA started enforcing new illegal online gambling rules in 2017.

The post ACMA Blocks More Illegal Online Gambling Websites appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Australia

Regulating the Game 2026 Sydney — One Month Countdown as Sector Leaders Anticipate Inaugural RTG Global Awards

Published

1 week ago

February 9, 2026

Wladimir P.

regulating-the-game-2026-sydney-—-one-month-countdown-as-sector-leaders-anticipate-inaugural-rtg-global-awards

With a month left until Regulating the Game 2026 Sydney, the final arrangements are in progress for the industry’s premier event on gambling regulation, compliance, integrity, and safer gambling, scheduled for 9–11 March 2026 at the Sofitel Sydney Wentworth.

Currently in its sixth edition, Regulating the Game has become a platform for in-depth, cross-jurisdictional analysis of gambling regulation and industry performance, emphasizing the interplay between regulatory frameworks, market structures, and organizational capacity in practice. The 2026 initiative unites regulators, policymakers, operators, advisors, and technology experts to explore the translation of regulatory intent into practical application, as well as the evolution of industry systems, governance, and behaviors in light of increased scrutiny and reform.

A Program Centered on System Efficiency and Compliance Circumstances

The 2026 conference agenda is designed to transition purposefully from context to analysis to application, exploring how gambling regulation, market design, organizational capability, and leadership influence real-world results. Over three days, the program examines not just the pathway of regulatory reform, but also how these reforms are integrated, implemented, and challenged within intricate gambling settings facing ongoing evaluation and transformation.

Sessions cover public policy, regulatory practice, sector performance, and innovation, focusing on:

• The strategic direction of gambling regulation, enforcement and supervision, and how regulatory posture is evolving post-inquiry and reform
• The operational reality of compliance, including AML/CTF supervision, financial crime risk, and implementation challenges and opportunities
• Safer gambling governance, consumer protection frameworks and the application of RegTech at scale
• Market structure, black and grey market dynamics, and the unintended consequences of regulatory design choices
• Technology, data governance, RegTech and the use of AI to support integrity, oversight and organisational decision-making
• Leadership, accountability, culture and the capability required to translate policy intent into durable operational outcomes

The agenda integrates keynote addresses, moderated panels, expert masterclasses and Industry Spotlight sessions, designed to support informed debate while grounding discussion in real-world regulatory and operational experience.

Global RTG Awards to Be Presented for the First Time

A key aspect of Regulating the Game 2026 is the introduction of the first Regulating the Game Global Awards, which honor leadership, stewardship, and measurable effects in areas such as sector direction and reform, compliance, safer gambling, technology, and community results.

The Global Awards were created to offer impartial, thorough acknowledgment of individuals, organizations, and solutions that are enhancing standards and leading to improved regulatory and social results. Finalists have been verified in six categories after an objective evaluation by a judging panel made up of senior leaders with extensive knowledge in regulation, law, integrity, governance, and responsible gambling.

The RTG Global Awards Gala Dinner will take place as a central event of the conference agenda, allowing finalists, peers, and industry stakeholders to engage in the Awards without needing to attend the entire conference.

Pitch! Showcase and Industry Interaction

The conference agenda includes Pitch!, a forum by Regulating the Game for exploring both new and traditional methods to tackle regulatory, compliance, and safer gambling issues. Pitch! highlights research, practical technologies, operating models, and concepts being implemented or tested in regulated settings, and analyzes how innovation is embraced, managed, and expanded in conjunction with current systems and controls.

Paul Newson, Founder of Regulating the Game and Principal at Vanguard Overwatch, stated that the 2026 event signifies the growth and significance of the existing regulatory landscape:

“Regulating the Game exists to engage honestly with how gambling regulation, sector performance and organisational capability intersect in practice – not just policy intent, but how expectations are interpreted, implemented and sustained over time.

The Global Awards sit alongside that purpose. They recognise and help surface leadership, stewardship and practical work that is lifting capability, strengthening governance and positioning organisations – and the sector more broadly – for more resilient and sustainable operation. The intent is to cultivate credible leadership voices and highlight work that is demonstrably improving outcomes.”

The post Regulating the Game 2026 Sydney — One Month Countdown as Sector Leaders Anticipate Inaugural RTG Global Awards appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.