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Golden Matrix Group (GMGI) Q2 Earnings Results (Interview Opportunity)

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Golden Matrix Group, Inc.
(NASDAQ: GMGI)(“Golden Matrix”, “GMGI” or the “Company”), a developer and licensor of online gaming platforms, systems, and gaming content, is pleased to
announce its financial results for the second quarter of 2024 and year to date, demonstrating robust growth and continued operational success.
  • Second quarter consolidated revenue grew 75% to $39.4 million, compared to the second quarter of 2023, a continuation of the strong trend shown in the last quarter whilst YTD revenue grew by 41% to $64.3 million, compared to the first half of 2023.
  • Second quarter consolidated gross profits increased by 31% to $21.7 million and YTD gross profits also increased by 17% to $39.4 million, each compared to the same periods in 2023.
  • Second Quarter Net Income of $15,000 impacted by non-cash items as well as considerable one-off acquisition, restructuring and implementation costs related to the recent acquisition.
  • Second quarter consolidated Adjusted EBITDA (AEBITDA) was consistent at $5 million, compared to the second quarter of 2023, while recognising the one-time costs of completion and implementation of the Meridianbet – Golden Matrix acquisition.
  • Shareholders’ equity of the Company grew 52% to $89.5 million, compared to December 31, 2023.
  • Net Debt Leverage ratio of only 1.6 as of June 30, 2024.
  • Cash on hand as of 31st July at over $40 million, a 96% increase over December 31, 2023, cash on hand of $20.4 million.
Brian Goodman, CEO of Golden Matrix Group, commented, “I am pleased to report that the consolidation of Meridianbet has been seamless, and we have gained strong momentum following the acquisition, as evidenced by our successful results. Our second quarter delivered exceptional results, driven by operational success across all business units. We have maintained high performance through product diversity and cross-platform initiatives.”

Zoran Milošević, CEO of Meridianbet, added, “Meridianbet’s key performance indicators for this quarter reflect its strong performance, ongoing growth and market expansion.

The solid results of this past quarter are further evidence of our belief that our strategy and positioning to capture the opportunities ahead
of us are sound and are expected to lead to further growth and scale.
The quarter has been marked by significant achievements and promising opportunities and I am excited about the future of this newly consolidated and diversified business.”

The post Golden Matrix Group (GMGI) Q2 Earnings Results (Interview Opportunity) appeared first on European Gaming Industry News.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Stand and deliver! Play’n GO heads to the highways with Midnight Gold

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Play’n GO unveils Midnight Gold, a spiritual successor to the 2023 blockbuster title Highway Legends. 

This thrilling 5×3 online slot offers 20 fixed paylines, stunning visuals, and an array of innovative features to keep players on the edge of their seats.

Narratively, players join a ragtag unit of daring rogues as they leave the daylight behind for a moonlit heist of epic proportions. Racing through shadowy highways and unforgiving terrains, their quest for gleaming treasures is fraught with challenges and perilous challenges…

With the Deliver Feature, Treasure Chests and Cash Bag symbols bring multipliers ranging from x2 up to an impressive x250. Free Spins provide players with a choice between Stacked Wilds, which span three positions, or Roaming Wilds, which hold over and move to random positions for even more potential wins.

Building on its legacy of innovative gameplay, Midnight Gold introduces Mystery Instant Wins, where Scatters can randomly reveal multipliers of up to x20, adding excitement to every spin. The high stakes peak with Super Free Spins, triggered by landing a special gold Scatter symbol. Every spin in this mode guarantees a Wild Multiplier, enhancing the chance for legendary rewards.

The game’s dark tones and gleaming accents create a captivating contrast, immersing players in a sleek and sophisticated heist experience. Fans of Play’n GO’s adventure-packed slots such as the aforementioned Highway Legends and Undefeated Xerxes will feel right at home with Midnight Gold. Like Highway Legends, which charmed players with its thrilling heist narrative and fast-paced gameplay – Midnight Gold takes the action to new heights with its nocturnal setting and refined features.

Meanwhile, the bold ambition and reward potential of Undefeated Xerxes find a fitting counterpart in the high-octane historical drama of Midnight Gold. With its blend of engaging storytelling and innovative mechanics, this title continues Play’n GO’s tradition of delivering unforgettable gaming experiences.

Magnus Wallentin, Games Ambassador at Play’n GO, said: “Midnight Gold brings the period drama action to life, combining engaging features with striking visuals. From the Deliver Feature to the Guaranteed Multipliers in Super Free Spins, this game is all about rewarding gameplay and building on top of the foundations that make our historical slots so great.”

With its engaging mechanics and polished design: Midnight Gold is set to shine as another one of Play’n GO’s classic titles.

The post Stand and deliver! Play’n GO heads to the highways with Midnight Gold appeared first on European Gaming Industry News.

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Booming Games shine with new 64 Gold Coins Hold & Win

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New Year, new… game! As we welcome in 2025, we also welcome a brand new slot from Booming Games – the super 64 Gold Coins Hold & Win.

This shiny new arrival boasts all the hallmarks of a classic. A 5×5, 30-payline slot with the famous casino symbols you’ve grown to love – lemons, cherries, lucky 7s and more. But this Hold & Win comes with a tantalising twist.

While many Hold & Win games require six coins in the base game to trigger the feature, you can do it here with just five. That launches the Coin Blitz Hold and Win, where every coin resets the spin counter, increasing your chance of landing a Mini, Minor, Major or Grand Jackpot. And that biggest pot can give you up to 1,000x your stake.

That’s not the only way to win, of course. Discover a Coin Blitz symbol and the coin will spin, revealing either the Boost (randomly increasing coin values) or the Grid Expand – which turns the 5×5 into an 8×8.

You can do the math from there. Your task is to fill that grid with 64 coins and unearth a wild win of 10,000x your original bet.

As with all of the provider’s titles, 64 Gold Coins Hold & Win has been certified for launch in core regulated markets including the UK, Sweden and all Malta jurisdictions.

Nemanja Živić, Director of Games at Booming Games, said: “Forget your resolutions, 64 Gold Coins Hold & Win is a New Year’s revelation! We love shiny new things and this ticks every single box. A classic casino feel with fresh, fun features – and the chance to win up to 10,000x your bet. Booming Games have delivered a sure-fire favourite to start the New Year in style.”

The post Booming Games shine with new 64 Gold Coins Hold & Win appeared first on European Gaming Industry News.

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QTech Games grabs more premium content with Clawbuster

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Emerging-markets leader expands its content offering with new games from rising star supplier

QTech Games, the leading game distributor across all emerging markets, has continued to build the strong momentum in its premium pipeline, thanks to its latest deal with rising star supplier, Clawbuster.

Integrating content from one of the most innovative and creative online slots providers adds yet more creative muscle to QTech Games’ burgeoning platform, which is taking the widest range of online games to emerging territories with established names, such as Evolution and Yggdrasil, sitting alongside the industry’s most exciting up-and-coming providers.

The games made available to its partners via the deal are comprised of popular hits and recent releases, including Sweet Dream Bonanza, Candy Claw, Book of Claws and Midas Golden Plinko, each of which ride on the back of unique maths modelling that varies the volatility spectrum, helping to foster some truly engaging gameplay.

Clawbuster’s gaming suite has been optimised for mobile, a cornerstone of QTech’s RNG model, which is founded on its fully-owned and customised technical platform, affording games providers and operators the fastest integration available. Through this leading platform, which has sealed its definitive status as a global gaming one-stop shop, clients enjoy the best performance and customer support available, localised to every region across both developing and more mature markets.

The deal organically broadens Clawbuster’s international footprint, unlocking untapped jurisdictions from Asia to Africa and Eastern Europe to Latin America for diversified growth.

Philip Doftvik, QTech Games’ CEO, said: “We’re committed to rolling out first-class content that drives revenue for our partners. Therefore, this deal with Clawbuster extends our impressive sequential pipeline for 2024 into 2025 – and we’ve so much more to come!

“Clawbuster offers a welcome breath of fresh air in the slots sector, adding a modern twist to familiar favourites to enhance yet never alienate the player experience. Their signature claw-machine mechanics boost player engagement and loyalty for some unrivalled entertainment.

“In today’s icasino space, only premium games of the highest standard cut through the hubbub of a crowded marketplace. So, we’re delighted to see how Clawbuster is capturing this demand. They routinely create world-class content, and are always looking to redefine and reinvent classic slot games to bring users a reinvigorating gaming experience with every play.”

Tim Lipsky, CEO of Clawbuster, added: “We’re reimagining the slots space with more immersive gaming experiences. And teaming up with QTech represents a fantastic opportunity to strengthen our product distribution across emerging territories and deliver our great games to a range of top-tier partners.

“At Clawbuster, we’ve created a powerful portfolio of data-driven games by deploying artificial intelligence to better identify game features and success factors. We use advanced analytics to predict, analyze and optimize our products in games to increase the ROI in online casinos, utilizing deep profiling to identify key trends and determine optimal RTP / volatility parameters for success, alongside player-preference analysis. This philosophy matches up with QTech’s own ML-driven game lobby, QT Play, perhaps the most sophisticated and accurate game-recommendation engine we’ve witnessed.

“Thanks to its unique auto-curation algorithms, which cut through the white noise of competing releases and match the right game to the right audience, we can’t wait to see how our games connect with a host of new players across emerging markets.”

The post QTech Games grabs more premium content with Clawbuster appeared first on European Gaming Industry News.

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