Supplier Golden Matrix Group has released its official financial results from the year’s second quarter, revealing a 75% yearly revenue increase to $39.4m.
Following the recent $300m acquisition of MeridianBet earlier this year, Golden Matrix’s group financial results for the second quarter of 2024 have been released. Alongside revenue, quarterly consolidated profits jumped 31% to $21.7m, bringing Year to Date (YTD) consolidated profit to $39.4m (coincidentally the same number). Further, YTD revenue figures have reached $64.3m, a 41% rise when compared to the initial half of 2023.
The aforementioned revenue results are consistent with the preliminary estimates broadcast by the group last month. The acquisition of online sports betting and gaming group, MeridianBet, has – however – had a knock-on effect on Golden Matrix’s net income, which settled at a figure of $15,000.
Golden Matrix Group CEO Brian Goodman commented on the release, saying: “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.”
The group’s consolidated adjusted EBITDA remained congruous with the figures from Q2 2023 at $5m, while shareholders’ equity of the company is reported to have doubled since the new year.
Also commenting on the results was Zoran Milošević, CEO of MeridianBet, who 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.”
