LAGOS, Nigeria and VALETTA, Malta, March 13, 2025 (GLOBE NEWSWIRE) — 13 March 2025, Globe Newswire – Meridianbet, a subsidiary of Golden Matrix Group, Inc. (NASDAQ: GMGI), has officially launched its B2B operations in Nigeria, one of the largest and fastest-growing betting markets in Africa. The company’s entry into Nigeria further strengthens its 20-year presence in Africa, leveraging its proven track record in regulated markets to deliver world-class gaming products.

Through its newly licensed local entity, Masterlive Network Limited, Meridianbet has secured full regulatory approval from the Lagos State Lotteries and Gaming Authority (LSLGA), allowing it to operate in both sports betting and online casino verticals under License No: LSLGA/OP/OSB/MB041124.

The official launch of Meridianbet.ng marks a strategic expansion into a market worth over $2 billion, according to the research of Orange Business Intelligence Technology, with over 60 million Nigerians actively participate in betting, contributing to one of the fastest-growing industries on the continent.

Zoran Milosevic, CEO of Meridianbet, commented:

“Our expansion into Nigeria marks a significant step in our long-term strategy to deepen our presence in Africa’s most dynamic gaming markets. With a highly engaged player base and strong industry growth, Nigeria presents a major opportunity for our B2B model. We are committed to bringing our cutting-edge technology, AI-powered betting solutions, and localized expertise to drive long-term success for our partners in the region.”

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FY 2024 Revenue Growth & Investor Outlook

Golden Matrix Group (NASDAQ: GMGI) has provided a preliminary full-year 2024 revenue estimate of $150 million, reflecting the company’s continued growth trajectory. The Group expects to release its audited FY 2024 financial results in the coming days, offering investors a comprehensive performance overview. The Nigerian market represents a strategic opportunity for future revenue expansion, aligning with GMGI’s global strategy to strengthen its presence in high-growth gaming markets.

Key Market Potential & Strategic Expansion

According to the Orange Business Intelligence Technology (ORBIT), Nigeria’s betting industry surpassed $2 billion back in 2020, with projections indicating up to $4.7 billion in annual revenue potential over the next decade. Football remains the primary driver of market growth, with a vast customer base engaging both online and offline. Meridianbet’s B2B model will provide advanced technology solutions, gaming content, and platform services to local operators, offering a scalable and highly adaptable system tailored to the Nigerian market.

A Strategic Milestone in Meridianbet’s African Growth

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With operations in 18 markets across Europe, Africa, and Latin America, Meridianbet has built a reputation as a leading technology provider and betting operator. The company’s expansion into Nigeria follows its long-standing success in established African markets, where it has been a dominant player for over two decades.

The soft launch of Meridianbet.ng is already delivering positive early results, with strong partner satisfaction and excellent customer feedback.

AI-Powered Innovation & Market Expansion

As part of this rollout, Meridianbet is introducing its proprietary AI Sports Betting Recommender and AI Casino Recommender, delivering personalized betting experiences based on real-time data, player behavior, and predictive analytics. These innovations, already proving successful in multiple markets, will enhance customer engagement, retention, and overall user satisfaction in Nigeria’s rapidly evolving gaming landscape.

About Meridianbet

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Founded in 2001, Meridianbet is a leading provider of betting and gaming technology, licensed in 18 jurisdictions across Europe, Africa, and South America. Its proprietary technology and scalable systems allow for multi-market operations with a strong omnichannel presence, including retail, online desktop, and mobile gaming. Meridianbet is a subsidiary of Golden Matrix Group, Inc. (NASDAQ: GMGI).

For more information, visit Meridianbet.ng or contact [email protected].

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f46f1174-d9d2-4438-9b4c-5495630929fc

VALETTA, Malta, Feb. 11, 2025 (GLOBE NEWSWIRE) — Meridianbet, part of the Golden Matrix Group, Inc. (NASDAQ: GMGI), a leading provider of innovative betting, gaming and technology solutions across 19 markets worldwide, today announced record-breaking revenue for January 2025, exceeding $9 million, marking the strongest month in the company’s history and beating the January 2024 revenue by 24%.

Important note: Meridianbet’s reported financial results for January 2025 do not represent the consolidated financials of Golden Matrix Group, Inc. (GMGI). Investors should not interpret these figures as reflective of GMGI’s total revenue performance.

These preliminary results are subject to final audit adjustments. The final audited financials for Q1 2025 will be published in March 2025.

The Company continues to demonstrate exceptional business fundamentals, underpinned by sustained revenue growth, expanding customer base, and a diversified portfolio of gaming assets across multiple markets.

Preliminary Revenue Highlights

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Continued robust financial and operational performance, with strong monthly growth across all key business verticals

• Revenue increase (January 2024 vs January 2025) YoY: +23%
• Retail sports revenue YoY: +117% (Driven by expanded in-store engagement, optimized market presence, and strategic local activations)
• Gross profit growth YoY: +32%
• EBITDA growth YoY: +44%
• Net profit growth YoY: +50%
• New players acquired: +7.52% YoY
• First depositors: +70.98% YoY
• Number of tickets placed: +9.13 % YoY
• Number of spins: +9.75 % YoY

These preliminary results highlight the company’s resilience and ability to drive sustained growth, even in a challenging market environment. As the holdco Golden Matrix Group continues its global expansion, the company remains committed to delivering strong financial performance and long-term value for its investors.

These results are subject to finalization and audit. Golden Matrix Group plans to release its full Q1 2025 financial results in March 2025.

About Meridianbet

Founded in 2001, Meridianbet Group is a well-established online sports betting and gaming group, licensed and currently operating in 18 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. The Company is part of the Golden Matrix Group (Nasdaq: GMGI). Contact https://x.com/meridianbet_ofc and [email protected]

Forward-Looking Statements

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This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, expectations regarding future financial performance, business strategies, growth opportunities, and market conditions. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied in these statements.

Factors that could impact future results include regulatory changes, market conditions, competitive pressures, operational performance, and macroeconomic trends. Investors are encouraged to review the company’s filings with the U.S. Securities and Exchange Commission (SEC) for further information regarding these risks and uncertainties. Golden Matrix assumes no obligation to update forward-looking statements except as required by law.

These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/229ae852-a9ae-4be4-b1c7-0b0a64b09462

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AI-Powered Betting and Unique Super Bowl LVIII Odds Including Scorigami, MVP Position, First Coach Challenge

• Over 880 unique betting options now available, surpassing last year’s record-breaking offer
• Philadelphia Eagles hold a 1.5-point spread advantage over the Kansas City Chiefs, with Eagles as -120 moneyline favorites
• Exclusive betting options include Scorigami, first coach to call a challenge, longest pass completion, jersey number props, and much more
• Meridianbet’s Empty Bet feature allows users to wager on custom bets, offering unparalleled flexibility
• Extensive NCAA March Madness coverage—with more than 500 betting options per game—providing unmatched variety

LAS VEGAS and VALLETTA, Malta, Feb. 09, 2025 (GLOBE NEWSWIRE) — The Super Bowl LVIII is just hours away and Meridianbet, part of Golden Matrix Group (NASDAQ: GMGI), is setting new industry standards, rolling out a record-breaking 880+ unique betting options for the biggest sporting event in the U.S.

Meridianbet is also bringing innovation to Super Bowl LVIII with its AI Sports Betting Recommender, an advanced feature that personalizes betting experiences by analyzing player behavior, past wagers, and real-time trends to suggest the most relevant betting options. This AI-driven approach enhances user engagement, making it easier for bettors to discover tailored opportunities with maximum potential.

This year, Meridianbet has expanded its Super Bowl betting market by 14%, ensuring that sports bettors have the most extensive selection available globally.

The Philadelphia Eagles enter as 1.5-point favorites over the defending Kansas City Chiefs, with a -120 moneyline, while the total points over/under is set at 47.5.

Responsibility and restrictions disclaimer

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Sports betting services are not legal in all locations. Be sure to comply with applicable laws and regulations where you reside.

Why Bet on Super Bowl LVIII with Meridianbet?

Meridianbet’s expansive betting portfolio includes exclusive, one-of-a-kind Super Bowl betting opportunities, such as:

• Scorigami: Bet on a unique Super Bowl score never seen before in NFL history.
• First coach to call a challenge
• Over/under on jersey numbers of first and last touchdown scorers (22.5)
• Super Bowl MVP prediction by position (QB, RB, WR, or Defensive Player)
• First sack, punt, and longest pass completion
• Which team scores on the first drive
• Will both teams score in every quarter?

Empty Bet Feature: Create Your Own Bets

Meridianbet’s Empty Bet feature allows users to wager on any measurable event, offering an unmatched level of customization. Whether it’s sports, entertainment, or political outcomes, players can submit their own bets for odds evaluation, making Meridianbet one of the most flexible sportsbooks in the industry.

March Madness is Around the Corner

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Beyond the Super Bowl, Meridianbet is preparing for an explosive NCAA March Madness betting experience, featuring over 225 betting options per game, outpacing some major U.S. sportsbooks in variety and depth.

A Winning Streak: Expanding Global Presence

This Super Bowl LVIII announcement comes just weeks after Meridianbet secured an iGaming and sports betting license in Brazil, further expanding GMGI’s global footprint. With recent approvals in South Africa and Peru as well, Golden Matrix Group is aggressively positioning itself for sustained long-term growth in emerging and regulated markets worldwide.

Responsibility and restrictions disclaimer

Sports betting services are not legal in all locations. Be sure to comply with applicable laws and regulations where you reside.

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About Meridianbet

Founded in 2001, Meridianbet Group is a leading global online sports betting and gaming operator, licensed in multiple jurisdictions across Europe, Africa, and South America. It is part of the Golden Matrix Group (NASDAQ: GMGI). Its cutting-edge technology, scalable infrastructure, and omni-channel approach enable it to operate seamlessly across retail, desktop, and mobile platforms.

For more information, visit ir.meridianbet.com, [email protected]

Investor & Media Contacts:

Brett Milotte, ICR (US) – [email protected]

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Greg Michaels, ICR (US) – [email protected]

Ana Ribeiro / Charlotte Page, St Brides Partners (UK) – [email protected] / [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7e853640-b388-49ac-83c2-c3d9c6436cf8