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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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AGCOR backs WSL Challenger Series to boost PH sports tourism

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The Philippine Amusement and Gaming Corporation (PAGCOR) has expressed full support for the ongoing World Surf League (WSL) Challenger Series in Baler, Aurora for boosting sports tourism and the country’s position as a premier surfing destination.

PAGCOR Chairman and CEO Alejandro H. Tengco said the agency is proud to sponsor a global league that brings elite surfers to iconic waves across the world, including celebrated Philippine surfing sites such as Siargao, La Union and Baler.

“We proudly support the WSL Series, which showcases emerging surfing talents and shines a global spotlight on the world-class waves of the Philippines,” Mr. Tengco said of the event, which started on November 17 and will run until November 23.

“This competition provides Filipino surfers with a bigger stage to showcase their skills while helping promote sustainable coastal development in surf communities,” he added.

“We look forward to a successful WSL Challenger Series and to seeing more Filipino surfers make a mark on the international surfing scene,” Mr. Tengco said.

The WSL is the leading global platform for professional surfing, staging top-tier competitions throughout the year in celebrated surf destinations.

The Challenger Series serves as the crucial qualifying arena for athletes aspiring to join the elite WSL Championship Tour, attracting a field of seasoned professionals and rising stars from across the world.

The Philippines has long been part of the WSL map, with Siargao hosting league-sanctioned events for the past 29 years.

The country’s consistent presence in the global surfing event has helped elevate local shores – particularly Cloud 9 in Siargao, as well as surf hubs in Baler and La Union –into key destinations for both athletes and adventure tourists.

 

The post AGCOR backs WSL Challenger Series to boost PH sports tourism appeared first on European Gaming Industry News.

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PRONET GAMING BECOMES FIRST B2B OPERATOR TO ESTABLISH SCBPO ACCREDITED OPERATION IN THE PHILIPPINES VIA CLAYMORE SOLUTIONS

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Omni-channel turnkey provider Pronet Gaming is the first internationally-licensed B2B company in the gaming sector to establish an SCBPO-accredited operation in the Philippines via Claymore Solutions.

Claymore Solutions is accredited by the Philippine Amusement and Gaming Corporation (PAGCOR) as a Special Class BPO (SCPBO), which authorises them to provide employer of record & serviced office space to internationally licenced gaming operators enabling them to establish operations in the Philippines without taking bets or payments.

Pronet Gaming will now build out IT and Trading teams in Manila, further strengthening its operational presence and technical capabilities in the region.

Pronet Gaming CEO Alex Leese said: “Establishing an SCBPO-accredited presence in the Philippines is a milestone that aligns perfectly with our long-term strategy of expanding our footprint in Asia, in a fully compliant way. We’re happy to have made this possible through the collaboration and support of our trusted partner, Claymore Solutions.”

Paul Fox, Chairman and Co-Founder of Claymore Solutions, said: “We’re honoured to be working with Pronet Gaming, providing EoR and serviced office space solutions for their operations which underlines the quality of local staff and further boosts the Filipino economy.”

PAGCOR Chairman Al Tengco commented: “We’re delighted to have B2B operators such as Pronet Gaming establish their Trading and IT operations here through Claymore Solutions. I hope that more companies follow given the wealth of readily available Filipino talent in this sector.”

Claymore will announce additional client partnerships in the near future.

The post PRONET GAMING BECOMES FIRST B2B OPERATOR TO ESTABLISH SCBPO ACCREDITED OPERATION IN THE PHILIPPINES VIA CLAYMORE SOLUTIONS appeared first on European Gaming Industry News.

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Fairspin Casino Unveils the Royale Run Tournament Overview

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Fairspin Casino presents the Fairspin Royale Run Tournament, an event designed to offer participants access to high-value rewards. The circle of privilege is introduced as a thematic element of the tournament and is presented as part of the overall concept.

From November 15 to December 25, gameplay is structured as a progression-based format, with rewards that include a luxury car, a premium motorcycle, and a branded watch.

The Fairspin Royale Run Tournament combines entertainment with measurable advancement through Fairspin’s transparent Play to Earn system. Each action contributes to overall progress, bringing participants closer to the available prizes.

Royale Run Tournament Prestige Overview

The Fairspin Royale Run Tournament is presented as a competitive event within the platform, featuring rewards intended to highlight its premium positioning. The tournament links in-game activity with defined outcomes, offering items such as a car, a motorcycle, and a watch as part of the prize structure.

By combining an incentive-based format with these rewards, Fairspin outlines its approach to transparent, activity-driven gaming. The Fairspin Royale Run Tournament reflects the platform’s emphasis on structured progression and measurable results.

Tournament Participation Details

The Fairspin Royale Run Tournament follows a Play to Earn format in which each bet contributes to advancement on the leaderboard. A total prize pool of $50,000 USDT will be allocated among 100 winners.

Participation is outlined as follows:

  • Users can join the event by selecting “Participate” on the tournament page.
  • Users can engage in any preferred games* — each bet boosts overall ranking.

*All games are eligible for the tournament, except those listed in Section 7.1.2.

Results are determined by the number of TFS tokens accumulated during the event. TFS is Fairspin’s digital asset used to reflect activity within the platform. Higher token totals correspond to higher positions on the leaderboard.

The winners will receive the following prizes:

  • 1st place: 20,000 USDT or a car certificate
  • 2nd place: 10,000 USDT or a motorcycle certificate
  • 3rd place: 6,000 USDT or a watch certificate
  • 97 finalists will share 14,000 USDT in additional rewards

Each action recorded during the tournament contributes to overall standing and eligibility for the listed prizes.

TFS Token Usage Overview

TFS tokens are used within the Fairspin ecosystem beyond the tournament period. They function as a mechanism for in-platform utility, as accumulated TFS can be converted into game currency, staked for defined returns, or exchanged in the Fairspin Store for items such as bonus funds, free spins, free bets, and selected technology products.

The platform outlines its token mechanics, withdrawal processes, and loyalty structure as part of its overall operating model, with each action contributing to measurable activity within the system.

About Fairspin Casino

Since its inception in 2018, Fairspin Casino has been at the forefront of innovation, combining a rewarding gaming experience with unparalleled blockchain transparency. With more than 10,000 games from over 100 top-notch developers, fast withdrawals, and enticing promotions, Fairspin continues to set the gold standard in the online casino industry.

The introduction of Fairspin’s TFS token has adjusted engagement dynamics on the platform. TFS is accumulated through rakeback and progression within Fairspin’s 10-level loyalty program. Tokens can be staked for defined returns or exchanged for a range of available benefits, including additional gameplay options and platform rewards.

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TFS PR

TFS

Fairspin

[email protected]

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