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Golden Matrix Signs Agreement to Acquire MeridianBet Group

Published

2 years ago

January 12, 2023

Reading Time: 4 minutes

Golden Matrix Group, Inc., developer, licensor and global operator of online gaming and eCommerce platforms, systems, and gaming content, and MeridianBet Group, Southeast Europe’s leading business-to-consumer (B2C) sports betting and gaming group with headquarters in Malta, operating in multiple markets across Europe, Africa, and Latin America, today announced that GMGI has entered into a definitive acquisition agreement pursuant to which it has agreed to acquire MeridianBet Group and its related companies in a cash and stock transaction valued at approximately $300 million (the “Acquisition”).

The acquisition, when completed, will provide GMGI access to new and fast growing regulated B2C markets that have experienced double digit compound annual growth rates (CAGRs) since 2020[i], supported by a network of over 1,100 highly skilled MerdianBet professionals. The acquisition is expected to close in the first half of 2023, subject to customary conditions to closing, including GMGI raising required funding, completion of due diligence, GMGI shareholder approval, and regulatory approvals. The combined pro forma revenues of both companies are expected to be greater than $100 million in FY2022, with an EBITDA estimated to be greater than $22 million for the pro forma year ended 31 October, 2022, making the combination financially appealing and earnings-accretive.

Both companies plan to continue operating under their respective brands.

European Gaming Congress 2024 (Warsaw, Poland)

Transaction Highlights

Creation of a combined group of profitable and cash positive companies, with enhanced buying power.
Access to new markets globally.
Increased competitive edge supporting over 600 third party casino brands on combined proprietary platforms and over 3.5 million registered retail customers in the B2C facing businesses.
Following the acquisition, GMGI expects to be positioned for growth, both organically and through further acquisitions, and through supported proprietary technology solutions across retail and online.
Following the acquisition, GMGI expects that synergetic growth opportunities will exist in core markets through the strong MeridianBet brand and growth prospects of other GMGI B2C brands and market entries.

Rationale for the Planned Acquisition

MeridianBet Group with a strong B2C presence in European, Latin America (LATAM), and African sports betting markets – and over 38% year-on-year revenue growth, Fiscal Year 2022 over 2021 – combined with Golden Matrix’s B2B gaming platforms supporting over 6.8 million registered users is expected to result in complementary aspects of the business and a significant increase in market share for both companies.

As a Nasdaq company, Golden Matrix has been seeking opportunities to grow and expand in a strategic and sustainable way. The acquisition of MeridianBet presents a unique opportunity for GMGI to achieve this growth while also gaining access to new markets and resources. Additionally, MeridianBet is a profitable and unique company, which is expected to bring valuable expertise and assets to the combined entity. Overall, the acquisition of MeridianBet is anticipated to bring significant benefits to GMGI from both a financial and operational standpoint, and GMGI’s management team is confident it will drive long-term value for shareholders.

Brian Goodman, CEO of Golden Matrix:

“We are thrilled to announce our entry into a purchase agreement with the shareholders of MeridianBet Group. We believe that this acquisition will provide us entry into a well-established and highly scalable B2C vertical in new markets outside of our core markets. MeridianBet Group appealed to us with its proven business model that emphasizes organic growth, resilience to external economic factors, and exceptional products and technology. We are pleased to be on the path to completing this acquisition and look forward to strengthening and growing our position in the global online betting and gaming industry, expanding into new regulated markets, and maintaining our ongoing drive to scale the business as a whole at a rapid growth rate. MeridianBet Group’s regional market strength, brand awareness and proprietary technology solutions across the enlarged group are also expected to further accelerate our growth and expansion into new territories.”

Commenting on the Acquisition, Zoran Milosevic, Chief Executive Officer of MeridianBet Group said:

“Today marks a major milestone for MeridianBet Group and its employees. As a public company traded on Nasdaq, in synergy with Golden Matrix, we expect to set an industry standard when it comes to worldwide gaming platforms and to be in an even stronger position to deliver on our aggressive growth strategy and expand into new markets, including Brazil and the US. Our brands, which are well known among worldwide online betting and gaming communities, are stronger together; and I am looking forward to working closely with Brian Goodman as we conclude the acquisition. I would like to take this opportunity to express my gratitude to Brian for his hard work and determination, in what has been a testing global macro economic environment for all. I thank the entire GMGI and MeridianBet team for their dedication and commitment to finalize this agreement. We are excited about the many opportunities we can pursue together in the years ahead, and we look forward to updating shareholders and employees on our progress and working towards closing the acquisition and continuing as a combined group.”

Terms of the Acquisition

The purchase price payable to MeridianBet Group shareholders will be satisfied by the issuance to MeridianBet stockholders of approximately 65.3 million common shares of GMGI, based on an agreed price of $3.50 per share, and $70 million in cash. Upon closing of the acquisition, the MeridianBet Group of companies will become wholly-owned subsidiaries of GMGI. The acquisition agreement has been approved by the Board of Directors of each company.

“From the perspective of MeridianBet Group,” added Mr. Milosevic, “the strategic rationale behind the deal and becoming part of a Nasdaq-listed company is to be more competitive and successful in Brazil, the United States and other large markets – where market entry for private companies is more challenging. We are confident the best days of sports betting and online casinos are yet to come, with gaming regulation rolling out globally, creating opportunities for us to expand into these emerging markets.”

No change in the Company’s name is planned in connection with the acquisition, and the Board structure is expected to remain the same, with the sole exception being Mr. William Scott joining as Chairman of the Board. Mr Scott is a seasoned veteran in the regulated gaming industry and is currently an advisor to MeridianBet Group.

Central Europe

Spielbanken Bayern and Stakelogic Launch brand new Live-Casino Offering

Published

9 minutes ago

July 11, 2025

George Miller

Reading Time: < 1 minute

Pioneering the next chapter of regulated iGaming in Germany, Spielbanken Bayern and leading live-casino specialist Stakelogic have gone live with brand-new online live casino solutions.

On 28 May 2025, spielbanken-bayern-online.de rolled out a set of Automatic Roulettes. The launch marks the inaugural step in a phased roadmap that will soon see more Roulette and Blackjack.

Bavaria became Germany’s first state to introduce online live-casino games in April 2024. Since beginning 2025, Spielbanken Bayern has worked hand-in-hand with the Bavarian regulator and Stakelogic to craft a best-in-class solution that combines strict compliance with an engaging, secure, and reputable gaming offering.

Stephan van den Oetelaar, CEO at Stakelogic, added: “It is both an honour and a privilege to develop further with Spielbanken Bayern on Germany’s first legal online casino. The timeline was ambitious, but our combined teams delivered. In the coming months, we will continue to optimise and enrich the portfolio with additional premium content.”

This landmark collaboration cements Spielbanken Bayern’s position as Germany’s online live-casino trail-blazer while underscoring Stakelogic’s reputation for marrying regulatory rigour with next-generation player experiences.

The post Spielbanken Bayern and Stakelogic Launch brand new Live-Casino Offering appeared first on European Gaming Industry News.

gaming industry

Pavilion Payments Partners with Pawnee Nation to Deliver Seamless Casino Funding Solutions Across All Three Properties

Published

9 minutes ago

July 11, 2025

GamingAmericas.com

pavilion-payments-partners-with-pawnee-nation-to-deliver-seamless-casino-funding-solutions-across-all-three-properties

Pavilion Payments, the leading omnichannel payment solutions provider in the gaming industry, has announced a partnership with Pawnee Nation, launching a suite of VIP Preferred funding solutions at their three properties: StoneWolf Casino, Trading Post Casino, and TeePee Casino and Smoke Shop.

Through this partnership, Pawnee Nation will leverage Pavilion Payments’ industry-leading VIP Preferred eCheck and Choice4 deferred settlement services at both the cage and VIP Financial Center self-service kiosks. Cash advance will be available at the cage, while the kiosks will offer multi-factor authentication (MFA) and ATM access, providing players with secure, convenient, and flexible funding options. Additionally, Pawnee Nation will implement VIP Shield, Pavilion Payments’ comprehensive Title 31 compliance solution, to enhance security and streamline regulatory compliance.

“We’re proud to partner with Pawnee Nation and support their ongoing commitment to delivering exceptional guest experiences. Our mission is to empower operators with secure, efficient, and forward-thinking payment technologies. We’re honored to support Pawnee Nation as they continue to drive innovation in the gaming space by streamlining transactions, strengthening compliance capabilities, and enhancing player satisfaction,” said Dan Connors, Chief Executive Officer of Pavilion Payments.

“Partnering with Pavilion Payments allows us to offer our players flexible and hassle-free funding options backed by trusted, industry-leading technology. This partnership aligns with our commitment to deliver exceptional guest experiences while supporting operational excellence across all three properties,” said Robert Wallar, CEO of Pawnee Tribal Development Corp.

By deploying Pavilion Payments’ integrated solutions, Pawnee Nation is making it easier for guests to access their funds and enjoy a more seamless and secure experience—while giving casino operators more control, insight, and efficiency in their payments environment.

The post Pavilion Payments Partners with Pawnee Nation to Deliver Seamless Casino Funding Solutions Across All Three Properties appeared first on Gaming and Gambling Industry in the Americas.

Casinos.com

Casinos.com Announces Results from Tribal Gaming Community Impact Voting

Published

9 minutes ago

July 11, 2025

GamingAmericas.com

casinos.com-announces-results-from-tribal-gaming-community-impact-voting

Casinos.com has revealed the voting results for the tribal and First Nation casinos across the US and Canada that have had the greatest impact on their local communities.

Voted entirely by locals, the results recognize standout casino venues across four U.S. states and three Canadian provinces where tribal and First Nations gaming venues have a heavy presence. Locals were asked to vote for the casino in their area that has had the most significant community impact, whether that be through funding and donations or excellent entertainment services.

Voting Recognizes Seven Standout Casinos for Cultural Impact

The public voting campaign was conducted as part of Casinos.com’s Tribal Casinos Month initiative, dedicated to honoring the achievements, cultural contributions, and economic impact of Indigenous-owned and operated casinos across Canada and the US.

This month-long spotlight aligned with National Indigenous History Month in Canada and complemented broader efforts to recognize the sovereignty of First Nations, Inuit, Métis and Native American communities.

“We’re proud to help shine a spotlight on these tribal and First Nation casinos. These are organizations that go above and beyond to deliver meaningful change to their communities. The results reflect the thoughts of the community in terms of not only entertainment excellence, but dedication to cultural preservation, economic resilience, and community uplift,” said Lee Gwilliam, SVP at Casinos.com.

US Winners (percentage of votes in each area):

Michigan – Soaring Eagle Casino (53%)

Operated by the Saginaw Chippewa Indian Tribe, Soaring Eagle Casino was recognized for its commitment to education, health initiatives, and economic development in the central Michigan region. From scholarships to infrastructure investment, voters praised the casino’s broad and lasting contributions.

The Nimkee Memorial Wellness Center is directly funded and supported by casino-generated revenue. The Soaring Eagle Casino & Resort routinely awards the Au Gres–Sims School District and Isabella County educational entities with grants that go beyond the 2% revenue-sharing program and fund initiatives such as Chromebook access, STEM curriculum and digital learning.

Florida – Seminole Hard Rock Hotel & Casino Tampa (54%)

With deep roots in community outreach and cultural celebration, the Seminole Hard Rock Tampa was honored for its high-profile support of local nonprofit organizations, disaster relief funding, and job creation across the Tampa Bay area.

Recently, the Seminole Hard Rock made a hefty donation to disaster relief efforts targeting communities affected by Hurricanes Helene and Milton. It supports World Central Kitchen and the American Red Cross. Casino’s COVID-19 efforts included donating food to Metropolitan Ministries.

California – Yaamava’ Resort & Casino (44%)

The Yaamava’ Resort & Casino, owned by the San Manuel Band of Mission Indians, was commended for its philanthropic leadership and expansive health, housing, and education programs that benefit the Inland Empire and beyond.

Casino famously supported wildfire relief with a $100,000 donation to the American Red Cross. Its $200,000 grant to the Inland Empire Ronald McDonald House provided housing for families of critically ill children being treated at Loma Linda University Medical Center.

Oklahoma – WinStar World Casino and Resort (49%)

A beacon of economic empowerment in southern Oklahoma, WinStar, operated by the Chickasaw Nation, earned distinction for driving regional growth, supporting healthcare access, and preserving Indigenous heritage.

The Chickasaw Nation has prioritized healthcare by establishing the Chickasaw Nation Medical Center and is invested in renewable energy projects.

Canadian Winners:

Ontario – Casino Rama Resort (55%)

Owned by the Chippewas of Rama First Nation, Casino Rama stood out for its long-standing support of local arts, youth services, and Indigenous language revitalization efforts.

Casino Rama is big on local arts initiatives, so they enjoy supporting language revitalization projects like Ojibwe classes overseen by the Culture and Research Department and local Indigenous education charities such as Inspire.

Alberta – River Cree Resort and Casino (51%)

This Enoch Cree Nation enterprise was recognized for its focus on employment opportunities, cultural awareness initiatives, and sustained investment in wellness and community development across Alberta.

Through partnerships like the Enoch-Aecon Joint Venture, the Nation works on expanding trades training for Indigenous workers. The Nation also collaborates with educational advocates like Ever Active Schools, which described their work together as “a partnership, a friendship, and a commitment to the wellbeing of the community.”

Saskatchewan – Dakota Dunes Casino (56%)

Operated by the Saskatchewan Indian Gaming Authority (SIGA), Dakota Dunes Casino led voter sentiment for its impactful community programs, including education funding and mental health services in partnership with First Nations organizations.

Dakota Dunes opened a new mental health clinic with on-site access to counseling and wellness support. Major grants were awarded, such as $100,000 for Team Saskatchewan at the North American Indigenous Games, $100,000 to FSIN for a powwow, and $50,000 to Wanuskewin Heritage Park, each supporting Indigenous cultural development.

In 2023, SIGA committed $1.89 million across its casino markets to support food security, mental health services, and Indigenous youth programs, as detailed in the SIGA Annual Report 2023.

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