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Jim Collopy Crowned 2024 Poker Masters Champion

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Jim Collopy is the champion of the 2024 Poker Masters presented by the PokerStars NAPT. Collopy cashed in four consecutive events during the eight-event series, amassing $521,600 in prize money and securing the coveted Poker Masters Purple Jacket. He also earned a $25,000 PokerGO Tour (PGT) Passport and a PokerStars Gold Pass for his victory.

The 2024 Poker Masters, held in Las Vegas at the PokerGO Studio, saw Collopy finish second twice, third, and sixth at four final tables, accumulating 522 points to top the leaderboard.

With his exceptional consistency, Collopy moves into seventh place on the PGT leaderboard, having earned nearly $2,000,000 during the 2024 PGT season. He has 1574 points from 15 cashes this PGT season. The current PGT points leader is Jeremy Ausmus with 2369 points. The top 40 point earners from the PGT regular season qualify for the season-ending PGT Championship that boasts a $1,000,000 prize pool.

Next up for the PGT is the season’s second edition of the PGT PLO Series presented by PLO Mastermind. PGT PLO Series runs October 14-22 at the PokerGO Studio and features nine PGT-qualifying events.

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Golden Matrix Group Inc. Reports Strong Q3 2024 Earnings and Continued Operational Growth

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Golden Matrix Group Inc. Reports Strong Q3 2024 Earnings and Continued Operational Growth

 

Year-to-Date Revenue up 55% to $105.3 Million Company’s Classics for a Cause Acquisition Successfully Integrated
Golden Matrix Group Inc., a global developer, licensor, and operator of online gaming platforms, today announced strong financial and operational results for the third quarter ended September 30, 2024. The results reflect the Company’s robust growth strategy and expansion efforts across key markets, including the successful acquisition and integration of Classics for a Cause.
Brian Goodman, CEO of Golden Matrix, commented, “Golden Matrix’s Q3 performance demonstrates our commitment and success in building sustainable, long-term growth and strengthening our industry position. Once again, we have delivered strong results across our divisions, supported by strategic acquisitions, platform upgrades, and the expansion of our iGaming portfolio.”
Financial Highlights
  • Revenue Growth: Q3 2024 consolidated revenue increased by 85% to $41 million, with year-to-date revenue up 55% to $105.3 million, driven by consistent performance across key markets.
  • Gross Profit Increase: Gross profit grew 39% in Q3 to $22.4 million, with year-to-date gross profit rising 24% to $61.8 million, reflecting improvements in operational efficiency and product margins.
  • AEBITDA: Adjusted EBITDA for Q3 reached $4.3 million, reflecting resilient performance across multiple revenue channels with marginal impacts from currency fluctuations across subsidiaries.
  • Balance Sheet Strength: As of September 30, 2024, Golden Matrix maintained a robust financial position with over $38.4 million in cash and equivalents and short-term debt of $17.5 million. Shareholder equity also grew 60% to $94 million, reinforcing the Company’s ability to pursue strategic growth initiatives.
Operational Highlights
Golden Matrix achieved significant milestones during Q3 2024, including:
  • Meridianbet Strong Growth Continues: Meridianbet’s Q3 revenue grew 16% YoY, led by a 19% online increase and 6% in retail. Deposits rose to $61.9M (+13% QoQ), with new registrations up 23% to 125K. Online casino GGR margin hit 3.37% (+21% turnover), sports betting rose 7.4% YoY with GGR at 9.5%, retail sports GGR at 10.3% (record 14.1% in August), and retail slots up 17.5% YoY.
  • Expansion of GMAG Platform: The GMAG B2B aggregator platform saw substantial growth, with wagering volume increasing 84% to $1.4 billion. Enhanced customer retention tools and the addition of high-margin games have driven engagement and profitability.
  • Classics for a Cause Acquisition: This newly acquired Australian business added $2.1 million in revenue and $503,000 in EBITDA within two months, expanding Golden Matrix’s market reach and contributing to overall profitability.
  • Mexplay Growth: Mexplay, the Company’s online casino in Mexico, reported a 56% increase in active players and a rise in gross gaming revenue to $15 million, underscoring growth potential in Latin America.
Zoran Milosevic, CEO of MeridianBet, highlighted the company’s strategic advancements, emphasizing the integration of key acquisitions and the enhancement of their operations with their launch of Meridianbet’s 5th generation platform resulting in what they consider to be the world’s most advanced iGaming technology. He mentioned a commitment to maximizing cost efficiencies and leveraging synergies across their global operations to drive sustainable growth and profits. As Golden Matrix enters the fourth quarter, they are focused on operational efficiency and profitability, positioning themselves for a record performance in 2024.
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Guest Wins Nearly a Million Dollars on Royal Flush Jackpot at MGM National Harbor

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MGM National Harbor is kicking off November with a big jackpot. A lucky guest was playing Ultimate Texas Hold’em on November 3 when he was dealt a Royal Flush of diamonds, winning $961,428.50.

“What an incredible way to kick off the holidays,” said Alex Alvarado, MGM National Harbor’s Vice President of Casino Operations. “We take great pride in offering the premier selection of table games in an industry where anything is possible. Today, that possibility became a reality with a life-changing win for our guest.”

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Stretch Network Partners with Vivaro.US to Enhance Poker Offerings

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Stretch Network has officially announced a new strategic partnership with Vivaro. US, a social casino platform. This collaboration is designed to bring ingenious poker operations to a wider audience in the USA, reinforcing Stretch Network’s commitment to expanding its reach in the growing digital market.

Ruslan Bangert, Head of Stretch Network, expressed his enthusiasm for the partnership, stating, “We’re thrilled to partner with Vivaro. US. This collaboration aligns with our goal to innovate and expand in the dynamic world of poker.

The partnership also marks an important milestone for Vivaro. US, allowing the platform to elevate its poker capabilities. Hovhannes Minasyan, COO of Vivaro. US, shared, “This collaboration with Stretch Network enables us to elevate our poker offerings and provide an even more immersive and secure environment for our players.”

“Our partnership with Stretch Network represents an important step in enhancing our poker capabilities and strengthening our platform’s offerings,” said Artak Basoyan, CEO at Vivaro. US.

With a growing presence in the USA through Vivaro. US, Stretch Network is well-positioned to deliver poker experiences to an even broader audience.

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The collaboration is expected to drive player engagement and increase opportunities for both companies, highlighting Stretch Network’s ability to adapt and grow in a competitive digital entertainment market.

 

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