Meridianbet
Meridianbet CEO Shares Key Insights at Citi 2024 Global TMT Conference
NEW YORK, Sept. 06, 2024 (GLOBE NEWSWIRE) — Meridianbet, one of Europe’s oldest and leading global sports betting and iGaming operator and part of Golden Matrix Group (NASDAQ: GMGI) announced that its CEO Zoran Milosevic, participated in the Citi 2024 Global TMT Conference. Milosevic discussed Meridianbet’s strategic growth, highlighting the company’s balanced approach to B2B and B2C operations, as well as its plans for expansion into key emerging markets, including Brazil and South Africa. The panel featured world’s most prominent corporate entities of the entertainment industry.
During his talk, Milosevic emphasized how Meridianbet’s proprietary technology, combined with Golden Matrix Group’s resources, positions the company as a leader in the highly competitive iGaming and sports betting industries.
Key Takeaways from Meridianbet’s CEO Talk:
- Meridianbet’s Legacy and Global Presence
Meridianbet has a 25-year history rooted in Europe, now operating in 18 regulated jurisdictions across the globe. With over 1,200 employees, including 100 software developers, Meridianbet delivers innovative gaming experiences through both retail and online platforms, offering 50+ in-house casino games.
- Balancing B2B and B2C Operations
Although Meridianbet initially started as a B2B provider, the B2C segment now contributes 85% of the company’s revenue. Meridianbet is preparing a significant upgrade and strategic focus on its B2B segment, which will be formally announced at the upcoming G2E Las Vegas Expo. This effort will reposition Meridianbet as a top-tier provider in the iGaming space, with its advanced B2B platform playing a central role.
- Expansion into New Markets
Mr Milosevic discussed the company’s strategic focus on expanding into key new markets, including Brazil and South Africa, leveraging its strong B2B offerings. He pointed out that Meridianbet’s presence in multiple jurisdictions allows it to take advantage of global growth opportunities, particularly as the regulatory landscape evolves.
- Maintaining Profitability in a Competitive Industry
Unlike many worldwide competitors relying on raising significant capital to fuel growth, Meridianbet has successfully maintained a focus on profitability by identifying and capitalizing on niche opportunities. “We operate efficiently and focus on strategic markets where we can maintain profitability while still achieving growth,” Milosevic said.
- iGaming as the Future of the Industry
Milosevic highlighted that iGaming is experiencing faster growth than traditional sports betting. He noted that younger generations are drawn to fast-paced casino games, which continue to grow at double-digit rates, compared to the single-digit growth in sports betting. “In the future, casino games will look more like video games, resembling the popular formats of today’s gaming industry.”
- Global Growth Strategy
Milosevic discussed Meridianbet’s multi-layered approach to growth, including organic expansion, a strong B2B entry strategy, and targeted acquisitions. The company’s expansion into Asia, where 60% of the world’s population resides, is seen as the next major opportunity, driven by a wave of impending regulation in the region.
“As we look ahead, our focus is on securing footholds in emerging markets, with Brazil and Asia as key targets. Our expertise in both B2B and B2C gives us a competitive advantage as we continue to expand.”
For more information about the insight shared during the Citi 2024 Global TMT Conference in New York, visit the Meridianbet Investor relations page at ir.meridianbet.com
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).
For more information, visit https://ir.meridianbet.com
YouTube – https://www.youtube.com/@MeridianbetIR
Twitter – https://twitter.com/meridianbet_ofc
Email: [email protected]
GMGI
Golden Matrix Group Provides Update on Entering U.S. Market and Expansion into Additional European Markets
Golden Matrix Group announced that the Company is progressing in its efforts to expand its market presence, particularly with its anticipated entry into the U.S. iGaming market. The Company, through its subsidiary Expanse Studios, which specializes in the production and distribution of iGaming content, is currently in the process of applying for the New Jersey Casino Service Industry Enterprise license.
GMGI has initiated discussions with several licensed gaming operators in New Jersey. Once the licensing process is finalized and the necessary approvals are obtained, the Company plans to serve as a B2B provider of its proprietary Expanse Studios iGaming content to fully regulated and licensed online casino and sportsbook operators in the state of New Jersey.
The Company intends to build on its U.S. presence by applying for additional licenses and servicing operator agreements in states where iGaming has been regulated.
Additionally, GMGI’s wholly owned Expanse Studios division has secured an iGaming license for the Bulgarian market and is actively pursuing licenses in Croatia and Romania, key markets that will further expand Expanse Studios’ European footprint.
Critical to its long-term growth strategy, GMGI, through its recently acquired subsidiary Meridianbet, is also focused on implementing its brand in other key markets, including Brazil, Peru, and South Africa.
As one of the select global operators with a pending federal license in Brazil, Meridianbet will be uniquely positioned to access Brazil’s substantial market, which is projected to grow to approximately $20 billion with a potential player base of 106 million by 2025 (Next.io, 2024). Based on current timelines, the licensing process in Brazil is expected to be completed by the end of December 2024, positioning Meridianbet as one of the companies likely to operate in the rapidly expanding market going forward.
Meridianbet, part of the Golden Matrix Group Inc. (NASDAQ: GMGI), announced that it has been shortlisted for an exclusive sports betting and iGaming license in Brazil.
The application, filed under request number 56.195.600/0001-07, positions Meridianbet among a select group of global operators who will be part of one of the most anticipated market launches in the global sports betting and iGaming industry.
The window for prioritized license applications in Brazil closed on August 20, 2024, with a total of 113 operators submitting their applications ahead of the deadline.
By securing its place in this priority group, Meridianbet has ensured that its license will be processed by January 1, 2025, which is the forecasted launch date for Brazil’s legal sports betting and iGaming market.
Meridianbet’s inclusion on this exclusive list underscores its status as one of the key players in the global gaming industry. With Brazil poised to become one of the world’s largest gaming markets, this license represents a significant opportunity for Meridianbet and Golden Matrix Group.
Meridianbet’s application includes both sports betting and iGaming (online casino) under Brazil’s comprehensive licensing regime, making it one of the few operators positioned to offer a full suite of gaming experiences to Brazilian players. The Brazilian gambling industry is forecasted to generate $34 billion in sports betting turnover by 2028, with an onshore gross win of $2.8 billion, according to a report by the International Betting Integrity Association (IBIA).
VALLETTA, Malta, Aug. 02, 2024 (GLOBE NEWSWIRE) — Meridianbet, a well-established online sports betting and gaming group operating in 18 jurisdictions worldwide and part of Golden Matrix Group (NASDAQ: GMGI), is proud to announce it has become the title sponsor of the FA Trophy, the Maltese FA Cup. This prestigious partnership reflects Meridianbet’s mission to support local clubs and strengthen the football community in Malta, fostering national pride and unity.
The Maltese FA Cup competition, now officially known as the Meridianbet FA Trophy, will see Meridianbet’s extensive experience and community-focused approach supporting both amateur and professional football in Malta. This three-year deal signifies a continued commitment from Meridianbet to support the sports culture in Malta, aligning perfectly with their longstanding presence and dedication to the community.
Stefan Pavlovic, Director of Meridian Gaming Ltd (Meridianbet Malta), expressed his enthusiasm about the sponsorship deal, stating, “We are thrilled to partner with the Malta Football Association as the title sponsor of the Maltese FA Cup. With our 17-year presence in Malta, we have consistently strived to give back to the community. This sponsorship not only supports the growth of football at all levels but also reinforces our ongoing initiatives.”
Malta FA President Bjorn Vassallo, concluded, “The Maltese FA is committed to growing and improving the game of football and the people in it at all levels. Our partnership with Meridianbet, a company with a deep-rooted presence in Malta, is an ideal fit as we strive to inspire people, achieve high standards, and embrace a sporting culture. Together, we aim to foster positive social change and champion national pride.”
Decades – Long Community Engagement in Malta
This partnership extends beyond the football pitch. Meridianbet has been actively involved in various community initiatives, demonstrating its commitment to Malta’s social fabric. The company recently launched the “Meridianbet Betting Awareness” initiative in collaboration with the Responsible Gaming Foundation, focusing on promoting safe gambling practices and supporting individuals affected by gambling addiction, but also securing the integrity of the sports matches offered.
In line with its community engagement efforts, the company has also shown support for environmental conservation. Meridianbet recently backed the Malta Ranger Unit, contributing to local ecosystem preservation and sustainability promotion. These initiatives highlight the company’s holistic approach to corporate responsibility in Malta.
The sports betting operator’s engagement with the local business community was further demonstrated through its participation in a corporate Padel tournament, competing alongside industry peers. This event showcased Meridianbet’s commitment to fostering positive relationships within the Maltese business ecosystem.
As Meridianbet embarks on this exciting partnership with the Maltese FA Trophy, it reaffirms its commitment to Malta’s sporting landscape and broader community. This collaboration is a testament to Meridianbet’s holistic approach – championing sports excellence, fostering responsible gaming practices, and supporting environmental initiatives. By intertwining its business goals with community welfare, Meridianbet continues to solidify its role as a responsible corporate citizen, deeply invested in Malta’s social and cultural fabric.
About Meridianbet
Established in 2001, Meridianbet Group has grown into a prominent player in the online sports betting and gaming industry. With operations spanning 18 jurisdictions across Europe, Africa, and South America, the company has built a robust global presence. As a part of Golden Matrix Group (NASDAQ: GMGI), Meridianbet leverages cutting-edge proprietary technology to offer a seamless, multi-currency betting and iGaming experience across retail, desktop, and mobile platforms.
Meridianbet’s operations in Malta, encompassing both B2C and B2B operations, fully align with its globally successful business model as it utilizes proprietary technology and scalable systems.
For further information, please visit:
ir.meridianbet.com
x.com/meridianbet_ofc
www.youtube.com/@MeridianbetIR
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f106640a-fd97-4965-87d5-7f263f126f55
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