Golden Matrix Hits Again with Accelerating Sales Growth and an M&A Kicker

IPO-Edge.com11-13

Global gaming operator Golden Matrix Group, Inc. (NASDAQ: GMGI) reported an 85% jump in third quarter revenue on strength across segments Golden Matrix continues to be profitable with cash on hand at ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2483363080?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/gP6_JjwM.8qa_ISq48SL1A--~B/aD0xNDAwO3c9MTU1NDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/ipo_edge_com_346/a52e27a14abce7cd7be5c185aeb6468e","is_english":true,"pubTime":"2024-11-13 00:38","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2483363080","market":"us","top_or_hot":-1,"title":"Golden Matrix Hits Again with Accelerating Sales Growth and an M&A Kicker","media":"IPO-Edge.com","content":"<div>\n<p>Global gaming operator Golden Matrix Group, Inc. (NASDAQ: GMGI) reported an 85% jump in third quarter revenue on strength across segments\nGolden Matrix continues to be profitable with cash on hand at ...</p>\n\n<a href=\"https://finance.yahoo.com/news/golden-matrix-hits-again-accelerating-163809707.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Golden Matrix Hits Again with Accelerating Sales Growth and an M&A Kicker</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGolden Matrix Hits Again with Accelerating Sales Growth and an M&A Kicker\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 00:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/golden-matrix-hits-again-accelerating-163809707.html><strong>IPO-Edge.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Global gaming operator Golden Matrix Group, Inc. (NASDAQ: GMGI) reported an 85% jump in third quarter revenue on strength across segments\nGolden Matrix continues to be profitable with cash on hand at ...</p>\n\n<a href=\"https://finance.yahoo.com/news/golden-matrix-hits-again-accelerating-163809707.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GMGI","symbol_name":"Golden Matrix Group, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/golden-matrix-hits-again-accelerating-163809707.html","article_id":"2483363080","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/gP6_JjwM.8qa_ISq48SL1A--~B/aD0xNDAwO3c9MTU1NDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/ipo_edge_com_346/a52e27a14abce7cd7be5c185aeb6468e"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483363080","pubTimestamp":1731429489,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Global gaming operator Golden Matrix Group, Inc.  reported an 85% jump in third quarter revenue on strength across segments. Golden Matrix continues to be profitable with cash on hand at $38.4 million. Tracking to target of $76 million of Ebitda expected in 2025. MeridianBet launched an AI-powered Bet Recommender during the quarter. Purchased and successfully integrated Australian discount platformClassics for a Cause Pty Ltd. Passed another key round in Brazil’s exclusive licensing process for sports betting and iGaming. Trades at just 4.8 times 2025 expected Ebitda, sharply below DraftKings Inc. and Caesars Entertainment Inc.Tech innovation also continued in the quarter with the launch of The AI Bet Recommender, which is designed to offer real-time, personalized betting suggestions, tailored to individual player preferences and habits. Earlier this year, the company also introduced an AI-powered casino g","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate","earning"],"viewcount":null,"language":"en","relate_stocks":{"GMGI":"Golden Matrix Group, Inc.","DKNG":"DraftKings Inc.","CZR":"凯撒娱乐","MLCO":"新濠博亚娱乐"},"translate_title":"Golden Matrix再次带来销售增长加速和并购热潮","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CZR":0.9,"DKNG":0.9,"GMGI":0.9,"MLCO":0.9},"content_text":"Global gaming operator Golden Matrix Group, Inc. (NASDAQ: GMGI) reported an 85% jump in third quarter revenue on strength across segments\nGolden Matrix continues to be profitable with cash on hand at $38.4 million\nTracking to target of $76 million of Ebitda expected in 2025\nMeridianBet launched an AI-powered Bet Recommender during the quarter\nPurchased and successfully integrated Australian discount platform Classics for a Cause Pty Ltd\nPassed another key round in Brazil’s exclusive licensing process for sports betting and iGaming\nTrades at just 4.8 times 2025 expected Ebitda, sharply below DraftKings Inc. and Caesars Entertainment Inc.\n\nBy John Jannarone\nGolden Matrix Group, Inc. (NASDAQ: GMGI) reported faster sales growth in the third quarter as the global gaming powerhouse saw strength across markets and continued to broaden its footprint through M&A and key regulatory wins.\nThe company, which offers tournaments and sports betting while also selling technology to other operators, said sales rose 85% in the third quarter after a 75% increase in the second quarter. The company continues to be profitable, with adjusted EBITDA of $4.3 million in the third quarter, reflecting health across segments.\n“Golden Matrix’s Q3 performance demonstrates our commitment and success in building sustainable, long-term growth and strengthening our industry position,” Brian Goodman, CEO of Golden Matrix, said Tuesday. “Once again, we have delivered strong results across our divisions, supported by strategic acquisitions, platform upgrades, and the expansion of our iGaming portfolio.”\nGolden Matrix has operations in more than 15 countries and continues to benefit from a boom in online gambling around the world. As more jurisdictions relax regulations, bettors worldwide can gamble in person or on smartphones around the clock.\n\nFollowing the April purchase of MeridianBet Group for $300 million, the company continues to use its healthy balance sheet to support M&A. During the third quarter, Golden Matrix purchased an 80% stake in Australian discount platform Classics for a Cause Pty Ltd (CFAC).\nThe deal marks Golden Matrix’s first foray into the consumer rewards industry, complementing its existing operations in the gaming and sports betting sectors. CFAC runs a consumer platform that gives paying members access to a wide range of discounts from retailers across Australia, along with giveaways featuring luxury cars and vacations. Golden Matrix can take that business into other markets using its vast existing footprint.\nDuring two months of ownership, CFAC added $2.1 million in revenue and $503,000 in EBITDA, expanding Golden Matrix’s market reach and contributing to overall profitability.\nTech innovation also continued in the quarter with the launch of The AI Bet Recommender, which is designed to offer real-time, personalized betting suggestions, tailored to individual player preferences and habits. Earlier this year, the company also introduced an AI-powered casino game recommender that introduces players to games (think of a TikTok-like algorithm that shows you the content you’re likely to enjoy).\n\nGolden Matrix continues to secure key regulatory approvals that can open up enormous markets. The company’s Brazilian subsidiary, Meridian Gaming Brasil, has successfully passed another crucial round of Brazil’s exclusive licensing process for sports betting and iGaming. The company is on a shortlist of 89 operators and expects the approval process to finish by the end of 2024.\nThat market is projected to reach around $2.2 billion in 2024. The Brazilian gambling industry overall is forecasted to generate $34 billion in sports betting turnover by 2028, according to a report by the International Betting Integrity Association.\nIn nearby Mexico, the company’s online casino known as Mexplay reported a 56% increase in active players, further underscoring growth potential in Latin America. Gross gaming wagering rose 67% to $15 million, leading to gross gaming revenue of $575,000.\nThe recently-acquired MeridianBet division saw revenue rise 16%, led by a 19% online increase and 6% in retail. Deposits rose to $61.9 million with new registrations up 23% to 125K. Sports betting, which has an even better margin than casino gaming, rose 7.4% helped in part by the Olympics.\n\nThe company’s GMAG platform, which offers B2B technology and software for partner operators via in-house game production group Expanse Studios, posted another strong quarter. Wagering volume surged 84% to $1.4 billion, helped by enhanced customer retention tools and the addition of high-margin games that also drive profitability.\nTurning to valuation, Golden Matrix targets $76 million in Ebitda next year, indicating a multiple of just 4.8 times. That compares with DraftKings Inc. at 23 times and Caesars Entertainment Inc. at 8.2 times, according to Bloomberg. That gap has widened in recent months even as Golden Matrix saw sales growth accelerate, indicating a potential window of opportunity for investors.\nWith momentum across divisions and plenty of M&A opportunities ahead, Golden Matrix shares look poised for action.\nContact: \nIPO-Edge.com \nEditor@IPO-Edge.com \nX/Twitter: @IPOEdge \nInstagram: @IPOEdge \nLinkedIn: https://www.linkedin.com/company/ipo-edge","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Business Data","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483363080"}