Press Releases
The Golden Matrix Group Reports a Record-Breaking Q3 Revenue
The GMGI Group reported revenue of $11.3m for the quarter ended 31 July, representing a 24.2% year-on-year increase. Last month, the developer confirmed it fulfilled expectations of record Q3 revenues without disclosing full results.
“We have continued the year with strong momentum and delivered solid results,” Goodman said. “The company achieved record revenues and posted its seventh consecutive quarter with positive cash flow from operations.
“Profitability in Q3 was impacted by several factors… including a significant increase in one-off legal and due-diligence expenses associated with the anticipated acquisition of the MeridianBet Group… as well as the start-up marketing costs related to the roll-out of Mexplay, the company’s B2C online casino in Mexico.”
The MeridianBet takeover
In January, GMGI struck a deal worth about $300m to purchase MeridianBet. Terms were amended in July, with GMGI hoping to complete the deal in Q4.
“We have made important investments during the quarter in systems and people to accelerate the growth of our B2C segments, both RKings and Mexplay,” Goodman added. “At the same time, there was significant progress in seeking to secure the financing required to close the deal for the acquisition of the MeridianBet Group and its related companies.
“Upon the successful acquisition of MeridianBet, the combined enterprise is expected to be generating multiple streams of gaming revenue and profit in regulated jurisdictions worldwide and offering highly popular best-in-class products, including casino games and sports betting.
“Closing of the MeridianBet acquisition will be a watershed event which is expected to catapult Golden Matrix into the global gaming markets as a highly competitive participant.”
The operating costs segment
Revenue contribution from RKings – GMGI’s B2B segment – was $3.7m in Q3, while the contribution from its B2C segment Mexplay was $7.6m.
GMGI took full ownership of RKings in November last year, having initially purchased a majority holding in November 2021.
Gross profit was $2.1m. This resulted from $9.1m in cost of goods sold. Operating costs grew 72.8% year-on-year to $3.0m, bringing the loss to $892,099.
The loss was aided slightly by earned interest of $15.1m, but was affected by $7.6m in interest expense. Following $81.0m in provision for income taxes, the net loss reached its $965,628 total, a $1.6m difference year-on-year.
Aside from the Q3 one-off costs, GMGI recorded a non-cash charge of $931,614 for stock-based compensation.
Meanwhile, adjusted quarterly earnings before interest, tax, depreciation and amortisation (EBITDA) totalled $161,783 for the quarter.
In the first nine months of GMGI’s financial year, through to the end of July, revenues reached $32.4m – up 22.4% from $26.5m. Gross profit, after $25.7m in cost of goods sold, was $6.6m.
Operating expenses for the year so far added up to $8.3m, up by 62.0%, bringing the operating loss to $1.7m.
Following other income of $67,956 the loss for the nine months was $1.6m, furthered still by tax of $299,071.
The company’s nine-month loss of $1.9m compared to a profit of $1.5m last year.
In a landmark move, platform and aggregator Groove Technologies has announced a strategic partnership with BetOnGames, the RNG game provider arm of BETCORE. This collaboration brings together Groove’s enterprise-grade platform, boasting over 15,000 games from 150+ top-tier providers, and BetOnGames’ lightweight, high-performing content, optimised for real-world conditions.
The alliance promises to deliver unparalleled scalability, engagement, and profitability for operators worldwide.
Groove’s cutting-edge platform is renowned for its precision, scalability, and advanced player engagement tools, making it a powerhouse for operators who demand excellence. By integrating BetOnGames’ portfolio featuring 100+ fast-loading, low-data titles across slots, crash, and instant-win formats, Groove further solidifies its position as the go-to solution for diverse markets, including regions with limited internet coverage.
Rachel Tourgeman, Head of Partnerships at Groove, emphasised the strategic value of the partnership: “BetOnGames’ adaptability and high-converting content perfectly complement Groove’s mission to deliver unmatched performance for operators. Their lightweight design, multilingual UI, and seamless payment integrations, including UPI, QR-wallets, and crypto, make them an ideal partner for both emerging and mature markets. Together, we’re setting a new standard for player engagement and operational efficiency.”
BetOnGames has built a reputation for reliability, offering RNG-certified titles with competitive RTPs (96–97%) and 24/7 technical support. Popular titles like Aerobet (crash-style, 97% RTP), 100 Mega Hot (classic slot, 97.12% RTP), and Bicho da Sorte 25 (lottery-style, 92.26% RTP) cater to a broad spectrum of player preferences, ensuring high retention and conversion rates.
Peter Korpusenko, CEO of BETCORE, highlighted the significance of the collaboration: “Partnering with Groove allows us to expand our reach exponentially while maintaining the speed, fairness, and lightweight efficiency that define BetOnGames. Groove’s robust backend and analytics tools empower operators to maximise our content’s potential, driving growth in even the most competitive markets.”
With full licensing under the Curaçao Gaming Control Board, integrated responsible gaming tools, and AML compliance, BetOnGames provides a secure and scalable foundation for operators. Combined with Groove’s industry-leading platform, the partnership ensures seamless onboarding via Groove’s single-API, optimised cash flow, and data-driven decision-making.
As iGaming continues to evolve, Groove and BetOnGames are poised to lead the charge, delivering a dynamic, player-centric experience that transcends borders and technical barriers. For operators seeking a competitive edge, this collaboration represents the future of iGaming today.
Yahale Meltzer, Co-Founder and COO at Groove, underscored the long-term vision: “This partnership isn’t just about adding games, it’s about enhancing ecosystems. BetOnGames’ performance in low-bandwidth environments and localised payment options align perfectly with our commitment to inclusivity and innovation. Together, we’re not just meeting operator needs; we’re anticipating them.”
The post Groove Technologies and BetOnGames Forge Strategic Partnership appeared first on European Gaming Industry News.
Latest News
GR8 Tech’s Bet It Drives Wraps Season 1 with Stephen Crystal—From Las Vegas Legends to Global Gaming Leadership
GR8 Tech’s drive-time podcast Bet It Drives closes out its debut season in the fast lane with Stephen Crystal, Founder of SCCG Management and a 30+ year veteran of the gaming world. From reshaping tribal and riverboat gaming to owning iconic Las Vegas casinos and driving more than $3 billion in finance, M&A, and technology projects, Stephen has spent his career at the center of the industry’s biggest moves.
In the passenger seat with host Yevhen Krazhan, GR8 Tech’s CSO, Stephen takes listeners from the glitter of Vegas to the global stage—where he has advised 120+ client-partners across 100 countries, built US operations for the UK’s largest bookmaker, and cut high-profile sports betting deals with teams like the Cincinnati Bengals and Vegas Golden Knights.
On this ride, Stephen opens up about:
- Whether industry events really bring the business
- Why he believes in connecting people to people above everything else
- How he’d reshape iGaming conferences (hint: more case studies, less fluff)
- The single-sentence keynote he’d deliver if given the mic
- The people and principles that shaped his journey
- The art of closing deals and the mindset behind his business approach
- Which song he cues up when it’s deal-done time
- His take on when it’s “network” and when it’s definitely “not work”
“Stephen brought the kind of wisdom you only get from decades at the very top of gaming and a career spent building, betting, and believing in people,” said Krazhan. “It was a very inspirational, motivational talk—and Stephen officially earned a Bet It Drives seatbelt of honor.”
As always, Bet It Drives trades the studio for the streets of London, filming each episode entirely on the move with a multi-camera crew capturing both the ride and the real talk. The result is a podcast that has blended insider insights with unscripted, human moments all season long—from Alex Pratt and Helen Walton to Rohini Sardana, and now Stephen Crystal in the finale.
Watch Episode 4 with Stephen Crystal now on YouTube, Spotify, and Apple Podcasts.
That’s a wrap for Season 1. But don’t unbuckle just yet—Bet It Drives will be back soon. Follow GR8 Tech and stay tuned: Season 2 is already on the horizon, promising more bold voices, more candid conversations, and more reasons to hit play.
The post GR8 Tech’s Bet It Drives Wraps Season 1 with Stephen Crystal—From Las Vegas Legends to Global Gaming Leadership appeared first on European Gaming Industry News.
Time to power up your spins and collect big wins with Hippo’s Lock
in Mexico. The new slot adventure launched by FBM® has Super Hippo as a hero, delivering entertaining gaming sessions with the Lock Feature, the Power Spins and Extra Spins accumulators. The game is available to play on the Auria, Galaxy II and Shadow III casino cabinets and is set for a fast expansion in the Mexican gaming market.
Hippo’s Lock is the latest slot title developed by FBM and brings a new theme with a charismatic hero, equipped with gadgets and special powers which will attract and engage slot players in Mexico.
The 30-lines game works with 15 independent reels, and the main action happens around the central position with Super Hippo’s intervention. The purple hippo guides the game narrative, taking players on an exciting gaming journey with non-stop action, suspense, and compelling animations.
The “X” effect of Power Spins joins the lucrative Extra Spins
Every time Super Hippo lands on the central reel, he bites the lock symbols and creates the chance to open the bonus mode with Power Spins, Extra Spins or the two accumulators combined.
When the Hippo’s Lock bonus starts with one accumulator, players guarantee five free spins. This number increases to ten free rounds if Super Hippo triggers Power Spins and Extra Spins at the same time. Each one of the accumulators has a special power:
- Extra Spins – Super Hippo uses its backpack to shoot lasers, increasing the number of free spins displayed in the counter.
- Power Spins – Super Hippo multiplies all coins, bags, Mini and Minor jackpots by 2, 3 or 5, leading players to a significant prize.
Super Hippo remains in the central position during all bonus rounds, and the special powers of the accumulators activated may repeat several times until the bonus rounds are over.
A kit of jackpots and gadgets to achieve big wins!
The bonus ignited by the Lock feature concentrates Super Hippo’s main powers. However, the game character has more tricks and resources to captivate and involve players:
- Jackpots – Hippo’s Lock offers access to four jackpot levels – Mini, Minor, Major, and Grand – through the vault symbol, which may appear on the reels during the main game or bonus rounds.
- Rewind – What if a gadget could change the symbols on the reels and lead players to bigger wins? That is the magic of the Rewind Feature activated by Super Hippo using its bracelet.
- Luck Has Arrived – Super Hippo announces a special flight on the screen with a message and takes off anticipating a lucrative game round for the player.
A slot game compatible with several casino cabinets and layouts!
Hippo’s Lock combines a fascinating game mechanic with an appealing feature set exhibited by an intriguing character through cutting-edge graphics, animations, and sound effects. This blend captures the interest of first-time players, delivering enjoyable gaming sessions that encourage them to return for more.
Hippo’s Lock reinforces the Lock product line FBM debuted this year with the Croc’s Lock theme launch. This new game title introduces a new hero, a new accumulator, and new thrills to the gaming sessions delivered by the global gaming brand’s slots portfolio.
Available on the Galaxy II, Auria and Shadow III casino cabinets, Hippo’s Lock starts its expansion journey in Mexico and intends to surpass the high expectations of local slot fans with long-lasting gaming sessions filled with prizes and adrenaline. The following plans include a global expansion having the US as the next showcase market for this FBM casino game.
The post FBM® adds a new hero to its slots collection with Hippo’s Lock™ launch in Mexico appeared first on Gaming and Gambling Industry in the Americas.
-
Canada7 days agoabsolutebet Secures AGCO Registration as an Internet Gaming Operator in Ontario
-
eSports3 days ago
Global Esports Federation confirms program for Los Angeles 2026 Global Esports Games
-
Latest News7 days ago
Arizona Department of Gaming and Arizona Lottery Announce Proclamation Recognizing September 2025 as Responsible Gaming Education Month
-
Central Europe4 days agoPromatic Games and SYNOT Interactive Announce Strategic Partnership to Strengthen iGaming Expansion in Central and Eastern Europe
-
Latest News4 days ago
High Roller Launches New Online Casino Brand in Finland
-
Trusted7 days ago
Trusted Online Casinos for USA Players by Sweepstakes Table
-
Latest News3 days ago
High Roller Technologies and Flows partner to launch player engagement experiences, with technical integration complete in record time
-
Brazil3 days ago
EstrelaBet to offer Opta-powered stats markets and premium live football streaming in extensive partnership with Stats Perform
