Golden Matrix Group (GMGI) Reports $150M Prelim FY 2024 Consolidated Revenue

Golden Matrix Group, Inc. (Nasdaq: GMGI) (Golden Matrix Group or the Company), a leading provider of innovative gaming and technology solutions, today announced preliminary revenue estimates of $150 million for the fiscal year ended December 31, 2024, a 61% year-over-year increase over FY 2023 revenues of $93 million.

On a pro forma basis, assuming the consolidation of both Golden Matrix Group and its subsidiary Meridianbet, the combined revenues for FY 2024 would have been approximately $163 million.

In April 2024, Golden Matrix Group completed the acquisition of Meridianbet, whereby Meridianbet became the accounting acquirer. In accordance with GAAP and SEC rules, the reported 61% growth reflects performance against Meridianbets FY 2023 revenues as the baseline, and as a result of these accounting principles GMGI revenues for Q1 2024 will not be included in the revenues for 2024.

Preliminary Revenue Highlights - Geographical Revenue Split

Americas: $5.08 million (3.36%)

U.K.: $21.29 million (14.06%)

Australia: $4.61 million (3.05%)

Europe (Excluding U.K.): $89.78 million (59.34%)

Asia: $17.86 million (11.80%)

Africa: $12.61 million (8.33%)

The FY 2024 results were underpinned by:

Strong performance across key markets

An expanded portfolio of sports and iGaming offerings, including the launch of a series of AI-driven products

Strategic market entries in South Africa, Peru and Australia, further diversifying the Companys global footprint

These preliminary results are subject to finalization and audit. Golden Matrix Group plans to release its full audited financial results for FY 2024 in March 2025.

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