Golden Matrix completes acquisition of MeridianBet Group
With the deal initially signed over a year ago, the acquisition agreement between the two is finally closed.
Golden Matrix has (finally) completed its acquisition of MeridianBet Group.
The agreement was first signed on 12 January 2023, when Golden Matrix agreed to buy MeridianBet Group in a deal valued at $300m.
This was paid through cash, debt and stock transactions.
The deal was expected to close in H1 2023, but several amendments to the agreement caused it to be delayed.
In a special meeting for the Golden Matrix Board of Directors and shareholders, those present approved the acquisition on 19 March, 2024.
Brian Goodman, Golden Matrix CEO, said: “This is a momentous occasion, and one that we believe will result in a fundamental, as well as a transformational, change for our rapidly growing company.
“The consolidated businesses are expected to deliver significant increases in both revenues and profitability; and we believe we are now well-positioned to continue our growth trajectory and deliver incremental value to all our stakeholders.”
The combined company will continue to trade on Nasdaq under the previous Golden Matrix ticker GMGI.
MeridianBet Group was founded in 2001 as an online sports betting and gaming group and gained licensing to operate across 15 jurisdictions, including those in Europe, Africa and South America.
Prior to the deal closing, MeridianBet Group posted an update on its corporate progress and expectations.
As part of this, Zoran Milosevic, MeridianBet Group CEO, said: “We are extremely pleased with our strong year-on-year operating results and continued expansion into new regulated markets.
“We are especially excited about the recent legislation for online casino and sportsbook in Brazil one of the world’s largest gambling markets.
“We look forward to the completion of the acquisition by Golden Matrix, now expected in the first quarter of 2024, and how the combined company will offer state-of-the-art B2B and B2C gaming platforms in multiple jurisdictions worldwide.”
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