Reading Time: < 1 minute

Aleksandar Milovanović, founder and largest shareholder of Meridianbet, has completed a $500,000 cash-to-equity conversion under the Post-Closing Cash Consideration Conversion Agreement, as specified in the Eighth Amendment to the Amended and Restated Sale and Purchase Agreement with the parent company, Golden Matrix Group (GMGI).

The Eight Amendment was signed on August 29, 2025 and entered into force on September 9, 2025. The underlying SPA was signed June 27, 2023, and the acquisition closed on April 9, 2024 (effective April 1, 2024).

The conversion was executed in five scheduled tranches from September 9 to September 26, 2025.

With the final tranche today, the full $500,000 conversion is complete as agreed. These issuances were made as restricted shares pursuant to the SPA terms and do not affect the overall economics of the post-closing consideration.

The completion of the scheduled tranches converts cash obligations into equity as outlined in the agreement, without changing the overall post-closing economic terms. This process manages cash flow timing and maintains consistency with the agreed-upon shareholder structure.

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.

The post Meridianbet’s Largest Shareholder Aleksandar Milovanovic Completes $500,000 Cash-to-Equity Conversion Under Post-Closing Agreement with Parent Company appeared first on European Gaming Industry News.

The post SYNOT Games expands Latin American footprint with Meridianbet partnership in Peru appeared first on Gaming and Gambling Industry in the Americas.

LAS VEGAS, Aug. 20, 2025 (GLOBE NEWSWIRE) — Meridianbet (“Meridianbet” or the “Company”), a leading developer and licensor of B2B and B2C gaming platforms and subsidiary of Golden Matrix Group, today announced a new debt-to-equity conversion agreement involving several key Meridianbet executives, including Aleksandar Milovanović, Founder; Zoran Milosevic, Chief Executive Officer; Snezana Bozovic, Co-COO and Golden Matrix Group Board member; Marija Teodosic, Deputy CEO; Jelena Sarenac, CEO of Meridianbet Cyprus; Juan Jose Mantese, Head of LATAM Markets; Marko Pejovic, CEO of Meridianbet Tanzania; and Vladimir Lenger, Head of B2B Operations for African Markets.

The executives have converted their shareholder debt into equity in Meridianbet’s parent company, Golden Matrix Group, underscoring their confidence in the firm’s value proposition and its potential for sustained long-term growth. The transaction, valued at approximately $284,000, further strengthens the company’s capital structure and demonstrates leadership’s continued alignment with shareholder interests.

Zoran Milosevic, CEO of Meridianbet, commented: “This latest debt-to-equity conversion shows our clear commitment to Meridianbet’s strategic goals and the long-term growth of Golden Matrix Group. The transaction reduces debt, improves financial flexibility, and ensures that key stakeholders remain directly aligned with the company’s objectives.”

“This conversion follows earlier similar agreements and confirms the ongoing alignment between Meridianbet’s leadership and Golden Matrix Group. It further lowers outstanding obligations and consolidates ownership interests within the management structure of the combined organization.”

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.

For more information, visit

IR Presentation – https://ir.meridianbet.com
YouTube – https://www.youtube.com/@MeridianbetIR
Twitter – https://twitter.com/meridianbet_ofc
Email: [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a9cd5ad8-07a5-4c35-877f-4a86c9a83b9b