Curated News
By: NewsRamp Editorial Staff
May 08, 2025
Golden Matrix Group Inc. Reports Strong Q1 Results and Accelerates Market Expansion
TLDR
- Golden Matrix Group Inc. reported record revenue growth of 72% in Q1, enhancing financial flexibility and positioning for further market expansion.
- Golden Matrix Group Inc. achieved a 57% consolidated gross margin with improved segment margins, reflecting strong operational efficiency and strategic financial management.
- Golden Matrix Group Inc.'s continued growth and innovation in online gaming platforms aim to provide users with enhanced gaming experiences and drive long-term shareholder value.
- Meridianbet secured a permanent online betting license in Brazil, expanded B2B operations in Nigeria, and renewed a 10-year online license in Serbia, showcasing its global market presence and strategic growth initiatives.
Impact - Why it Matters
This news matters as it demonstrates the financial success and strategic initiatives of Golden Matrix Group Inc., indicating a positive outlook for the company's growth and expansion. The strong performance in key markets and the projected revenue increase for 2025 signify a promising future for the company and its stakeholders.
Summary
Golden Matrix Group Inc. announced its financial and operational results for the first quarter of 2025, highlighting record raffle segment performance and strategic balance sheet optimization. The company reported a 72% year-over-year revenue growth, reaching $42.7 million, and a gross profit of $24.2 million.
Meridianbet, a subsidiary of Golden Matrix, showcased strong performance in various markets, including securing a permanent online betting license in Brazil and expanding its user engagement metrics. The company expects full-year 2025 revenue to range between $190 million and $195 million, reflecting a growth rate of 26% to 29% over 2024.
Source Statement
This curated news summary relied on this press release disributed by NewMediaWire. Read the source press release here, Golden Matrix Group Inc. Reports Strong Q1 Results and Accelerates Market Expansion
