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Golden Matrix Reports Fiscal 2022 Financial Results With Record Revenues of $36 Million

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Golden Matrix Group Inc., developer, licensor and global operator of online gaming and eCommerce platforms, systems, and gaming content, today reported financial results for its fiscal year ended October 31, 2022.

  • Full year revenues of $36 million, an increase of 219% on revenues of $11.3 million in the comparable 12-month period ended October 31, 2021.
  • Adjusted EBITDA of over $3.5 million * for the year ended October 31, 2022.
  • Cash and cash equivalents of $14.9 million and total assets of $32.5 million as of October 31, 2022.
  • Total liabilities as of October 31, 2022 of $2,774,932, comprised of $2,715,154 in current liabilities and $59,778 in non-current liabilities.
  • GMGI shareholders’ equity of $26.8 million , up from $18.9 million on October 31, 2021, an increase of 42% over the 12-month period. ended October 31, 2021.
  • Current game operations and registered user numbers of 685 and 7 million, respectively, in business-to-business (B2B) traditional business.
  • Business-to-consumer (B2C) segment – RKings Competitions Ltd. (RKings) – now has over 45,000 unique active users per month.
  • Subsequent event: On January 12, 2023, GMGI entered into a definitive agreement to acquire MeridianBet Group and its related companies in a cash and stock transaction valued at approximately $300 million.

Revenue contributions in fiscal 2022 from GMGI’s B2B and B2C segments were $14.8 million and $21.2 million, respectively. There were no contributions from the (RKings) B2C segment during fiscal 2021, as GMGI had not acquired its 80 percent controlling ownership interest in RKings until the beginning of fiscal 2022. At the end of the fiscal year, GMGI exercised its option and acquired the remaining 20 percent interest. The revenues and adjusted EBITDA discussed above include the 20% non-controlling interest which was held in RKings during the year ended October 31, 2022. More detailed information on the minority interest can be found in our most recent Annual Report on Form 10-K for the year ended October 31, 2022, which was filed with the Securities and Exchange Commission (SEC) today.

The increase of general and administrative expenses – to $5,442,591 in fiscal 2022 from $1,264,672 in the prior year – was due primarily to $3,131,121 of G&A expenses from the Company’s RKings B2C segment. The 83% year-over-year increase in G&A expenses in the B2B segment was due mainly to increases in marketing and payroll costs.

“This has been a highly constructive year for our rapidly growing company,†said Golden Matrix CEO Brian Goodman, who continued, “We believe the increased costs incurred and investments made in our B2B and B2C platforms have positioned GMGI to sustain and even accelerate our strong revenue growth. To remain competitive in the worldwide gaming industry, we are continually upgrading our systems and gaming content offerings to support the needs of our millions of participants.”

Mr. Goodman said, the entry into the agreement to purchase MeridianBet Group, announced recently (the “Purchase Agreementâ€) and expected to be completed in the first half of the current year, “will significantly advance GMGI’s global footprint with numerous B2B and B2C product offerings on most continents and, we believe, create the opportunity for us to participate in online gambling markets in the U.S. and Canada.â€

Mr Goodman further added, “The combined pro forma revenues of Golden Matrix and MeridianBet are expected to be greater than $100 million for FY2022, with an Adjusted EBITDA estimated to be greater than $22 million for the pro forma year ended October 31, 2022, making the combination financially appealing and earnings-accretive.â€

Mr. Goodman said that GMGI expects to begin generating considerable revenues in the first half of this year via its B2C Mexican Casino, which offers Online Casino Games, Sportsbook and the successful RKings Tournament product and continued, “We believe it should serve as the first major step toward GMGI’s planned expansion throughout Latin America.â€

Selective amounts stated above are rounded to the nearest $100,000, please see Form 10-K for exact numbers

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Betano Renews Sponsorship with Formula One Legend Felipe Massa

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Betano Renews Sponsorship with Formula One Legend Felipe Massa

 

Former Ferrari, Williams and Sauber driver remains Betano’s ambassador in Brazil, participating in responsible gaming campaigns and social initiatives, with the brand also displayed on his car and race suit

 Betano, Kaizen Gaming’s sports betting and gaming brand, announces the renewal of its successful partnership with Felipe Massa, active since 2023. The Brazilian driver, recognized worldwide for his career in Formula 1 and recent victories in Stock Car, which made him runner-up in the sport, will continue his partnership with Betano under a multi-year contract, reinforcing the connection between the brand, driver and his fans.

“Felipe Massa is more than an ambassador for Betano; he is a symbol of trust that shares similar values with us and has a story that inspires. Renewing this partnership is part of our commitment to offering fans unique experiences and expanding our presence in Brazilian sports. Massa will also be our ambassador for responsible gaming and will engage in social initiatives driven by Betano,†says Guilherme Figueiredo, Betano’s Country Manager in Brazil.

To celebrate the renewal and officially sign the contract, Massa visited Betano’s brand-new office in São Paulo, Brazil. Employees had the chance to meet him in person, get autographs, and take photos while sharing their excitement for the renewed partnership.

“This is a very special relationship. I am proud to represent a brand that understands and values ​​sports. Each event and activation we have done together was created with one goal in mind: to create unforgettable moments for sports fans. It is a pleasure to continue this collaboration and I’m looking forward to achieving more together in the coming years,†says Felipe Massa.

The Brazilian driver has a career full of achievements. Runner-up in F1 in 2008 and with victories in several international competitions, he is an idol to thousands of motorsports enthusiasts.

During his partnership with Betano, Felipe Massa participated in several activations with sports fans and the brand’s customers. Among the highlights, the Betano Racing event stands out, where influencers and guests had the opportunity to race side by side with the driver, creating moments of adrenaline and fun. In addition, Betano welcomed Massa to the Copa América Cup Tour in São Paulo and to activations in Belo Horizonte during the historic first stage of the Stock Car in the city.

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Salsa Gator strengthens its portfolio with Platipus content

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Salsa Gator strengthens its portfolio with Platipus content

 

Salsa Technology, an innovative iGaming company, has finalised a content collaboration with trailblazing casino game development studio Platipus. Based in the EU, Platipus’ studio is renowned for its suite of cutting-edge HTML5 slots and table games.

Since its founding in 2014, Platipus has established itself as a key player in the iGaming industry, with teams in Malta, Utrecht (Netherlands), and Kyiv (Ukraine). The studio boasts an impressive portfolio of over 100 engaging and feature-rich games. Some of the top-performing games now available on Salsa Gator include Wild Spin, 7 & Hot Fruits and Wild Crowns.

Partner operators can access Platipus content via a single integration with Salsa Gator, which offers a diverse selection of casino games from premier providers proven to deliver results in Latin America. Additionally, Platipus has certified part of its portfolio to comply with Brazilian market regulations.

Salsa Technology’s Chief Growth Officer, Eliane Nunes said: “Bringing Platipus content to Salsa Gator further enriches our offering. Thanks to our streamlined integration process, Platipus games are already available to our .com clients, and in no time, once the integration certification process is finalized, they will also be accessible to operators in the regulated Brazilian market using Salsa Gator. This demonstrates our ability to efficiently connect top-tier content with the rapidly evolving Brazilian and Latin American landscape.â€

Stanislav Mykhailov, Platipus’ CCO, added: “Partnering with such a strong force in Latin America is a huge win for us as we deliver the best gaming experiences to an even wider audience. Salsa’s local know-how will help our games reach their full potential in the region.â€

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SCCG Partners with SFT Combat to Unlock Sports Betting Sponsorships for Brazil’s Largest MMA League

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SCCG Partners with SFT Combat to Unlock Sports Betting Sponsorships for Brazil’s Largest MMA League

 

SCCG Management, a global leader in gaming advisory and sponsorship development, has announced a strategic partnership with SFT Combat, Brazil’s premier mixed martial arts (MMA) organization, to facilitate betting sponsorship opportunities within Brazil’s rapidly growing sports betting market.

SFT Combat has redefined the landscape of combat sports in Brazil, boasting the largest roster of top-ranked national fighters and an unmatched commitment to fair, balanced matchups. The promotion stands as the only combat sports event in Brazil to air the entire fight card on free-to-air network television, providing unparalleled continuity and exposure. This approach allows fans to follow fighters’ careers from their early bouts to championship moments, creating deep connections with the athletes and elevating the sport’s reach.

With over 160 fights broadcasted, 77 hours of televised content, and a nationwide audience that has averaged 1.4 million weekly viewers—peaking at 2.5 million—all in 2024, SFT Combat has solidified itself as a dominant force in Brazilian sports entertainment. It has also introduced a new level of high-intensity combat with SFT Xtreme, a striking-only discipline featuring 100% stand-up action with no wrestling or ground fighting, which has quickly become a fan favorite. Some believe its adrenaline-fueled format has the potential to surpass MMA in mainstream popularity.

Through this partnership, SCCG Management will leverage its expertise in the Brazilian gaming market to connect SFT Combat with leading sports betting operators and brands. SCCG has a proven track record of securing high-impact sponsorship deals across sports, with partnerships that include the Cincinnati Bengals, Colorado Rockies, Hendrick Motorsports, and Pillow Fight Championship. By tapping into SCCG’s global network and industry expertise, this collaboration will drive new revenue opportunities and enhance the commercial appeal of combat sports in Brazil.

Stephen Crystal, Founder & CEO of SCCG Management, stated: “Brazil is one of the most exciting and rapidly evolving sports betting markets in the world, and combat sports hold a special place in its culture. Our partnership with SFT Combat allows us to bring top-tier betting brands into this thriving ecosystem while ensuring sponsorships are strategically aligned with the promotion’s elite-level competition and massive television audience. SCCG specializes in securing the right partners for the right opportunities, and we’re thrilled to help drive SFT Combat’s sponsorship growth in the gaming sector.â€

David Hudson, President of SFT Combat, commented: “I am absolutely thrilled about this groundbreaking partnership! Brazil isn’t just a country—it’s the powerhouse exporting the finest MMA talent outside the US. With a roster of world-class fighters, our nation is uniquely positioned to host events that captivate the global stage. This alliance is a pivotal step, one that will not only showcase our unmatched talent but also propel us towards creating truly world-class events. Together, we’re redefining the future of combat sports!â€

SFT Combat has thrived under David Hudson’s leadership for the past six years, during which he has transformed the promotion into a media powerhouse. Before assuming the presidency, Hudson honed his craft at Swen Group, SFT’s parent company, where he earned accolades as an award-winning producer in film and video production. His innovative approach and entertainment-driven vision have reshaped the spectacle of combat sports, setting SFT apart from traditional fight promotions.

SCCG Management brings unparalleled experience in navigating regulatory landscapes, structuring high-value sponsorship agreements, and maximizing brand exposure for sports properties. Through this collaboration, SCCG will support SFT Combat in identifying and securing sponsorships that align with its brand, determining the value of key sponsorship assets, and developing long-term strategic partnerships that go beyond traditional sponsorships to include co-development and revenue-sharing opportunities. As the Brazilian sports betting market continues to expand, this partnership positions SFT Combat as a premier platform for operators looking to engage with one of the country’s most passionate fan bases.

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