Golden Matrix (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems and gaming content, has entered into a definitive agreement to acquire an indirect 80% controlling interest in Australia-based Classics for a Cause Pty Ltd (“CFAC”), a leading independent online discount platform. According to the announcement, the acquisition facilitates Golden Matrix’s strategic plan to enter into the consumer loyalty and rewards industry. The company noted that the planned acquisition complements existing operations in the gaming and sports-betting space and solidifies its position as a premier tournament operator, while also providing a significant opportunity to scale CFAC’s business and expand the company’s operations.
“We are thrilled to proceed with this acquisition as it aligns perfectly with our strategy of acquiring profitable and accretive businesses,” said Golden Matrix CEO Brian Goodman in the press release. “Our previous acquisition of RKings Competitions has been a phenomenal success, significantly contributing to our revenues and profits, and we anticipate similar results with CFAC. CFAC will provide a strong foundation to build on, as was the case with RKings, and we expect this acquisition will not only enhance our revenue and cash flow but will also add to our bottom-line profitability. We are confident in our ability to scale CFAC, implement cost efficiencies, upgrade its technology and further strengthen its free cash flow.”
In addition, Golden Matrix announced that Goodman will be featured in a live interview with Benzinga executive producer Zunaid Suleman. The interview is slated for tomorrow, Aug. 21, at 11:40 a.m. ET and will be available on Benzinga’s YouTube channel. During the interview, Goodman will talk about GMGI’s second-quarter 2024 financial results and the future outlook for the company, including its acquisition plans and opportunistic approach to expansion. In addition, the two will discuss the benefits of the company’s dual business-to-consumer (“B2C”), business-to-business (“B2B”) model; the array of product offerings Golden Matrix offers; and why geographic diversity and industry tailwinds make GMGI a compelling investment for retail investors.
To view the interview, visit https://ibn.fm/K7msc
To view the full press releases, visit https://ibn.fm/3MMAZ and https://ibn.fm/ixHp8
About Golden Matrix Group Inc.
Golden Matrix Group is a leading gaming technology company with a global presence, operating across multiple international markets. Based in Las Vegas, the company specializes in both business-to-business (“B2B”) and business-to-consumer (“B2C”) sectors, leveraging proprietary technology to deliver innovative solutions. Golden Matrix’s B2B division focuses on developing and licensing branded gaming platforms to a broad client base, while its B2C division, RKings, runs a high-volume eCommerce site that allows users to participate in paid competitions on its exclusive platform in authorized regions. Additionally, the company owns and operates MEXPLAY, a regulated online casino in Mexico. In 2024, Golden Matrix expanded its international footprint with the acquisition of Meridianbet, a prominent B2B and B2C sports-betting and gaming platform, which operates under regulation in multiple markets across Europe, Africa and Latin America. 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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