Latest News
Golden Matrix Provides Corporate Update on Pending (MeridianBet) Acquisition
Golden Matrix Group, Inc., a developer, licensor and global operator of online gaming and eCommerce platforms, systems and gaming content, today provided a corporate update on its pending acquisition of MeridianBet Group, one of Southeast Europe’s leading business-to-consumer (B2C) sports betting and gaming groups, with headquarters in Malta, operating in multiple markets across Europe, Africa and Latin America.
As previously reported, on September 27, 2023, the Company and the owners of MeridianBet entered into a First Amendment to Amended and Restated Purchase Agreement, pursuant to which GMGI had agreed to acquire the MeridianBet Group and its related companies. Among the various amendments to the prior agreement as set forth in the 1st amendment (as described in greater detail in the Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on September 28, 2023), the prior agreement was amended: 1) to extend the required closing date thereof; and 2) to modify financial closing terms of the previously announced definitive agreement.
The modification to the financial closing terms allows for the use of up to $20 million of cash-on-hand of MeridianBet Group to pay a portion of the $30 million cash payable by Golden Matrix at the closing of the transaction, to the extent approved in the sole discretion of the sellers.
Subsequently, on September 29, 2023, Golden Matrix filed a Current Report on Form 8-K, disclosing excerpts from certain presentations used by GMGI in connection with the funding sought by Golden Matrix to close the transaction.
“These recent filings reinforce the importance of this strategic acquisition, and demonstrate both companies’ willingness and ability to close the transaction,” said GMGI CEO, Anthony Brian Goodman, who continued, “The amendment allowing GMGI and the sellers to use up to $20 million of the MeridianBet Group’s cash-on-hand at closing (subject to the sole discretion of the sellers), not only provides the Company with potential greater flexibility on financing, but we believe also demonstrates the sellers’ confidence in the value of creating a combined entity capable of being greater than the sum of its parts.”
Mr. Goodman noted that the MeridianBet Group has increased its year-to-date revenues considerably against last year’s revenues; and the proforma performance of the combined company, following the acquisition, is now projected to be approximately $132 million in revenues and $27 million in Adjusted EBITDA, for the October 31, 2023 fiscal year.
“Both MeridianBet Group CEO, Zoran Milosevic, and I are confident that the completion of this acquisition will drive long-term value for all our stakeholders as we seek to benefit from economies of scale and both companies’ historical revenue and profit growth. We are also working closely with our bankers in an effort to raise the most beneficial financing available for the transaction,” concluded Mr. Goodman.
Golden Matrix expects to file the required proxy statement requesting shareholder approval for the issuance of the shares of common stock issuable in connection with the transaction, and other matters, with the SEC for shareholder approval very soon.
The acquisition is expected to close in the fourth quarter of 2023 or first quarter of 2024, subject to customary conditions to closing including, but not limited to GMGI shareholder approval, and Nasdaq approval, to the extent required, and other items.
For additional information regarding the purchase agreement, as amended, and the terms of the 1st amendment, including a breakdown of all of the consideration payable thereunder, please refer to Golden Matrix’s Current Report on Form 8-K, which was filed with the Securities and Exchange Commission on September 28, 2023 and is available at www.sec.gov
Latest News
Plaza Hotel & Casino again celebrates New Year’s Eve with live fireworks show
Located in the heart of downtown Las Vegas, the Plaza Hotel & Casino will again celebrate New Year’s Eve with a full evening of celebrations in classic Las Vegas style, complete with a delicious dinner at Oscar’s Steakhouse, a special performance of the new and ever-changing variety show Mavericks, complimentary champagne toasts, and downtown’s only live fireworks show at midnight on Tuesday, Dec. 31.
The Plaza’s annual New Year’s Eve fireworks display is a spectacular show for people downtown and visible for miles.
The Plaza’s Carousel Bar located under the property’s iconic dome will be at the heart of the evening’s festivities. Carousel Bar will offer an unmatched location to celebrate the new year with handcrafted cocktails, and just steps away from the best vantage point downtown to watch the fireworks, the portion of Main Street in front of the Plaza that will be closed to vehicles during the show.
As part of its NYE Room Package, the Plaza will hold an all-ages viewing party of the fireworks for hotel guests only on its rooftop pool deck. The room package also includes 25% off room rates (two-night minimum stay) and complimentary early check-in and late check-out (based on availability). The NYE Room Package is available to book online.
Before the fireworks, the award-winning Oscar’s Steakhouse will offer a holiday a la carte menu with exclusive New Year’s Eve specials. Restaurant diners will also enjoy a complimentary champagne toast. at midnight while watching the fireworks show from under the dining room’s glass dome. Reservations are recommended and can be made online or by calling 702-387-7227.
Entertaining audiences with its fabulous blend of comedy, circus, burlesque and variety, Mavericks will offer an affordable 9:30 p.m. performance on New Year’s Eve without any holiday price hikes, proving that thrilling entertainment in Las Vegas doesn’t have to break the bank.
Home to downtown Las Vegas’ only bingo room, the Plaza Hotel & Casino will hold Las Vegas’ first-ever $160,000 New Year’s Eve Super Bingo event, Tuesday, Dec. 31 through Wednesday, Jan. 1. If booked by Dec. 16, participants can play and enjoy a 5-night stay from Sunday, Dec. 29 through Thursday, Jan. 2 for just $400, with no resort fees (after Dec. 16 the stay and play registration price rises to $600).
Super Bingo players also receive as a bonus $20 in free slot play.
Revelers can end the night with an after party at The Sand Dollar Downtown, which will welcome The Moonshiners playing live Great Gatsby/Prohibition Pop from 10:30 p.m. to 1:30 a.m. There is no cover for the live performance, which is open to guests 21 years or older.
Canada
Aviatrix enters North America for first time with Ontario launch
Award-winning crash game Aviatrix is now live in North America for the very first time, after securing a licence and certification in the Canadian province of Ontario.
Aviatrix has been granted a Gaming-Related Supplier (B2B) Licence by the Alcohol and Gaming Commission of Ontario (AGCO), meaning Ontario-licensed operators can now offer the game.
It’s the first time players in North America will be able to enjoy Aviatrix, marking another major milestone in the remarkable two-year journey of the game.
Aviatrix was helped through the AGCO licensing and certification process by BetComply.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: “We committed to expanding Aviatrix’s regulated footprint, and this is another huge step. We’re already present in many markets across Europe, so it is fantastic to add a province in Canada to the list. We are sure that players in Ontario are going to find Aviatrix every bit as enjoyable as their counterparts elsewhere.”
Aviatrix has added multiple new regulated markets over the past few weeks, including Italy, Sweden and the Netherlands.
It was also recently named ‘Game of the Year’ at the EGR Operator Awards 2024.
Arizona
Arizona Department of Gaming Cease-and-Desist: Bovada Online Gambling
The Arizona Department of Gaming (“ADG”) has taken action against an overseas gaming company in Curaçao that is allegedly operating illegal online gaming sites, Bovada.com and Bovada.lv (Bovada), accessible to Arizona residents. Following an investigation into the matter, the ADG sent a cease-and-desist letter to Harp Media B.V., which operates Bovada, on November 8, 2024.
The operation of Bovada in Arizona is alleged to be a felony criminal enterprise and Bovada has been directed to desist from any future illegal gambling operations or activities of any type in Arizona. Due to the unregulated and illegal online gaming offerings on Bovada, Harp Media B.V. is claimed to be in violation of Arizona gaming laws, including:
- Promotion of Gambling (Felony) — Ariz. Rev. Stat. Ann. § 13-3303.
- Illegal Control of an Enterprise (Felony) — Ariz. Rev. Stat. Ann. § 13-2312.
- Money Laundering (Felony) — Ariz. Rev. Stat. Ann. § 13-2317.
Harp Media B.V. has been directed to immediately cease all online (or other) gambling operations and activities in Arizona, and take the necessary steps to immediately prevent and exclude Arizona residents from gambling on their websites.
“We are actively monitoring the evolving landscape of online gaming and taking proactive steps like this helps us protect Arizona’s communities and economy from illegal activities,” said Jackie Johnson, Director of the ADG. “Our enforcement team is committed to preventing unauthorized operations from establishing a foothold here. Arizona will not be a safe haven for unlicensed or unlawful gaming, nor will we allow unlawful entities to compromise the integrity of gaming within our state.”
In light of these developments, the Arizona Department of Gaming urges residents to exercise caution with online gaming activities. Only legal, regulated operations provide important consumer protections not found in the illegal market, helping ensure a safer experience for participants. Certain online event wagering is legal in Arizona. A list of all licensed and regulated event wagering operators legally taking bets in Arizona can be found on the Department’s website at gaming.az.gov.
-
Compliance Updates1 day ago
Golden Matrix Group Subsidiary Meridianbet Enters Final Phase of Brazil Licensing
-
Canada5 days ago
Bojoko.ca Celebrates Record-breaking Month in October 2024
-
Compliance Updates6 days ago
Superbet Becomes the First Regulated Bookmaker in Brazil
-
Latest News5 days ago
Chris Kelley Joins Hard Rock International as President of Hard Rock Hotel & Casino Tejon Scheduled to Open Late 2025
-
Latest News6 days ago
GeoLocs Partners with Superbet for Launch in Brazil’s Newly Regulated Online Gaming Market
-
Latest News6 days ago
Alex Dixon Resigns as President, CEO of Q Casino
-
Latest News2 days ago
21VIRAL Strengthens Senior Sales Team in Latin America
-
Compliance Updates6 days ago
BGaming awarded Peru supplier licence