Record-breaking revenue: Meridianbet, a subsidiary of Golden Matrix Group, Inc. (NASDAQ:GMGI), reported a record-breaking revenue of over $9 million for January 2025, marking a 24% year-over-year growth.
Significant financial growth: The company experienced a 117% increase in retail sports revenue, a 32% growth in gross profit, a 44% increase in EBITDA, and a 50% rise in net profit year-over-year.
Expansion and customer engagement: With operations across 18 jurisdictions and a 7.52% increase in new players, Meridianbet demonstrates strong customer attraction and retention, supporting its global expansion strategy.
Meridianbet, a subsidiary of Golden Matrix Group, Inc. (NASDAQ:GMGI), has achieved a significant milestone with a record-breaking revenue of over $9 million for January 2025. This marks a 24% year-over-year growth compared to January 2024, making it the strongest month in the company’s history. However, these figures are preliminary and subject to final audit adjustments, with the audited financials for Q1 2025 expected in March 2025.
Meridianbet’s impressive performance is driven by a 117% year-over-year increase in retail sports revenue, thanks to enhanced in-store engagement and strategic local activations. The company also saw a 32% growth in gross profit, a 44% increase in EBITDA, and a 50% rise in net profit year-over-year. These figures highlight Meridianbet’s ability to sustain growth in a challenging market environment.
The company’s growth is further supported by a 7.52% increase in new players acquired and a 70.98% rise in first depositors. Additionally, there was a 9.13% increase in the number of tickets placed and a 9.75% growth in the number of spins. These metrics demonstrate Meridianbet’s success in attracting and retaining customers, contributing to its overall financial performance.
Golden Matrix Group’s global expansion strategy is evident in Meridianbet’s operations across 18 jurisdictions in Europe, Africa, and South America. The company utilizes proprietary technology and scalable systems to offer an omni-channel approach, including retail, desktop online, and mobile platforms. This strategy positions Meridianbet for continued growth and long-term value for investors.
In the context of GMGI’s stock performance, Milovanovic Aleksandar, a 10 percent owner, executed significant share purchases in February 2025. He acquired 60,000 shares at $1.85 each, increasing his total ownership to 78,014,616 shares. Despite these transactions, GMGI’s stock price is currently $1.845, reflecting a slight decrease of 0.81%. The stock has fluctuated between $1.83 and $1.8972 during the trading day, with a market capitalization of approximately $237.83 million.
