Golden Matrix (NASDAQ: GMGI), a developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, is reporting on the pending acquisition of MeridianBet Group. One of southeast Europe’s leading B2C sports betting and gaming groups, MeridianBet operates in multiple markets across Europe, Africa and Latin America. Late last month, the two companies entered into a First Amendment to Amended and Restated Purchase Agreement, which outlines various amendments to the prior acquisition agreement, including the extension of the required closing date and modification of financial closing terms. Specifically, the modification to the financial closing terms allows the use of up to $20 million of cash-on-hand of MeridianBet Group to pay a portion of the $30 million cash payable by Golden Matrix at the closing of the transaction. Golden Matrix anticipates the acquisition to close in Q4 2023 or Q1 2024, subject to customary conditions.
“These recent filings reinforce the importance of this strategic acquisition and demonstrate both companies’ willingness and ability to close the transaction,” said GMGI CEO Anthony Brian Goodman in the press release. “The amendment allowing GMGI and the sellers to use up to $20 million of the MeridianBet Group’s cash-on-hand at closing (subject to the sole discretion of the sellers), not only provides the company with potential greater flexibility on financing, but we believe also demonstrates the sellers’ confidence in the value of creating a combined entity capable of being greater than the sum of its parts. . . . Both MeridianBet Group CEO, Zoran Milosevic, and I are confident that the completion of this acquisition will drive long-term value for all our stakeholders as we seek to benefit from economies of scale and both companies’ historical revenue and profit growth. We are also working closely with our bankers in an effort to raise the most beneficial financing available for the transaction.”
To view the full press release, visit https://ibn.fm/ngdwB
About Golden Matrix Group Inc.
Golden Matrix Group, based in Las Vegas, Nevada, is an established business-to-business (“B2B”) and business-to-consumer (“B2C”) gaming technology company operating across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients. RKings, GMGI’s B2C division, operates a high-volume ecommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The company also owns and operates MEXPLAY, a regulated online casino in Mexico. The company’s sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current U.S. law. For more information about the company, visit www.GoldenMatrix.com.
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI
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