Golden Matrix Group Thursday announced it has entered a definitive agreement to acquire MeridianBet Group and its related companies in a cash and stock transaction valued at approximately $300 million.
Golden Matrix, based in Las Vegas, is a developer, licensor, and global operator of online gaming and eCommerce platforms, systems, and gaming content. MeridianBet Group is a business-to-consumer sports betting and gaming group headquartered in Malta.
“We believe that this acquisition will provide us entry into a well-established and highly scalable B2C vertical in new markets outside of our core markets,” said Golden Matrix CEO Brian Goodman in a statement. “MeridianBet Group appealed to us with its proven business model that emphasizes organic growth, resilience to external economic factors, and exceptional products and technology. We are pleased to be on the path to completing this acquisition and look forward to strengthening and growing our position in the global online betting and gaming industry, expanding into new regulated markets, and maintaining our ongoing drive to scale the business as a whole at a rapid growth rate.”
According to the agreement, benefits of the transaction include:
- A combined group of profitable and cash positive companies with enhanced buying power;
- Access to new global markets;
- The support of 600 third party casino brands on combined proprietary platforms and over 3.5 million registered retail customers in the B2C facing businesses.
“Today marks a major milestone for MeridianBet Group and its employees,” said MeridianBet CEO Zoran Milosevic. “As a public company traded on Nasdaq, in synergy with Golden Matrix, we expect to set an industry standard when it comes to worldwide gaming platforms and to be in an even stronger position to deliver on our aggressive growth strategy and expand into new markets, including Brazil and the US. Our brands, which are well known among worldwide online betting and gaming communities, are stronger together and I am looking forward to working closely with Brian Goodman as we conclude the acquisition.”
The acquisition is expected to close in the first half of 2023, subject to customary closing conditions.
