The transaction not only strengthens the company's financial statement, but also highlights the alignment of the main executives with the organization's long-term vision for its expansion in the international market, in which it already appears in operation in more than 19 countries.
"This move sends a strong message to the market and our shareholders," said Brian Goodman, CEO of Golden Matrix Group, who continued, "Mr. Milovanovic, Mr. Milosevic and Ms. Bozovic's decision to convert their debt to equity reflects both their personal conviction and the company's confidence in Golden Matrix's short- and long-term growth trajectory."
Below, check out more information about GMGI's ongoing alignment with Meridianbet that solidifies the organization in the global sports betting and casino games market.
How the conversion strengthens GMGI's balance sheet
As announced by Aleksandar Milovanovic, Zoran Milosevic and Snezana Bozovic, founders of Meridianbet, the organization acquired by GMGI in 2024, has converted a total of $9,570,460 in acquisition-related debt into equity.
For Brian Goodman, CEO of Golden Matrix Group, the action of the Serbian sports betting company that recently obtained its license to operate in Brazil, strengthens the financial position of the company's entire ecosystem, as the positive moment that the organization is in: "The management team is deeply grateful for their continued support and for believing in our vision."
In addition, Zoran Milosevic, CEO of Meridianbet, also commented on the decision, showing full confidence in GMGI's operational strength and strategic vision: "This conversion is not just a financial decision — it reflects our deep confidence in the company's underlying performance and future growth opportunities. We are committed to Golden Matrix's long-term vision and proud to be a part of its continued success."
It is worth noting that the capital conversion should provide greater financial flexibility as GMGI advances its growth strategy and continues to execute new strategic initiatives.
Golden Matrix report reinforces positive momentum
Golden Matrix Group managed to beat its annual revenue record in 2024. To better understand, the company presented records in its last quarterly report, in which a significant growth in revenue was added.
In addition, annual corporate revenue jumped to $151 million, up 63%, reflecting strong demand and strategic acquisitions.
Golden Matrix Group CEO Brian Goodman commented on his company's standout year: "We have successfully scaled our iGaming and sports betting operations, expanded our global footprint and delivered strong growth in 2025. Our acquisitions of Meridianbet and Classics for a Cause, combined with our AI-powered platform enhancements, position us for sustained success."
The organization also showed growth between the third and fourth quarter of 81%. In addition, revenue for the year jumped 63%, as commented above. As a result, fourth-quarter gross profit increased by 45%, and full-year gross profit increased by 30% to $89 million in total.
In this sense, cash reserves stood at around US$ 30 million, which still guarantees the desired financial flexibility for continuity in future investments.
Get to know Golden Matrix Group
Golden Matrix Group is a B2B and B2C gaming technology company established in the United States, in the Las Vegas region, which operates in several international markets.
In its general ecosystem, there are companies, such as Expanse Studios, that develop and license proprietary gaming platforms for its extensive list of B2B clients.
In addition, the company relies on RKings, its B2C division, which operates a high-volume e-commerce site that allows end users to enter paid competitions on its proprietary platform in authorized marketplaces. The corporation also owns and operates MEXPLAY, a regulated online casino in Mexico.
Complementing its quest to become a reference in the market, Golden Matrix Group also has Meridianbet, in which it has signed a reliable partnership so far. It is also worth mentioning the acquisition of Classics for a Cause, an independent online discount platform in Australia.
Therefore, GMGI consolidates itself as one of the main players in the iGaming and sports betting sector, with a diversified portfolio, global presence and continuously investing in technological expertise to optimize its user experience.
About Meridianbet
Founded in 2001 in Serbia, Meridianbet specializes in sports betting and casino games, with over two decades of experience in the industry.
The company's success is linked to the use of proprietary technology and scalable systems, which allows an omnichannel operation in multiple markets and currencies, covering retail, online and mobile platforms.
To appear as one of the best companies in the business, the company has focused on investing in continuous growth, driven by the use of Machine Learning and innovation with artificial intelligence tools. In 2024, the company became a wholly-owned subsidiary of GMGI, strengthening its partnerships in the field and gaining greater prominence.
If you are interested in more updates, visit the Group's Investor Relations page or follow the social networks of GMGI and Meridianbet.
www.goldenmatrix.com
https://twitter.com/gmgi_official
https://www.instagram.com/goldenmatrixgroup/
https://meridianbet.bet.br
Source: GMB
