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Golden Matrix Provides Corporate Update on Pending (MeridianBet) Acquisition

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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.

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“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.

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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

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BIG Cyber Names Heather Lee Senior Director of Sales

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Gaming Industry Marketing and Sales Professional Joins BIG Cyber to Help Company Continue its Growth as a Cybersecurity Defense Technology and Services Provider

BIG Cyber, a BMM Innovation Group Company dedicated to providing robust cybersecurity services and solutions to the global gaming industry, today announced the appointment of Heather Lee as Senior Director of Sales.

BIG Cyber Chief Executive Officer Amit Sharma said, “As BIG Cyber continues to grow, we are excited to add experience to our team by welcoming Heather to drive our sales initiatives. She brings six years of experience in Gaming sales and is well recognized for her focus on customer service and building trusted partnerships.”

Lee previously served as Vice President of Casino Sales & Partnerships at Engaged Nation, where she spearheaded revenue growth and marketing excellence through the award-winning REACH customer-engagement platform.

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Before that, she was the Manager of Sales, Loyalty Marketing at Everi, and also worked for Atrient Technology.

Lee was recognized as one of the Emerging Leaders of Gaming 40 Under 40 class of 2022. Her commitment to gaming extends through her membership in the Global Gaming Women organization and her previous involvement in Everiߣs Women in Leadership Initiative.

Lee said,”I am excited to bring my experience and passion for sales to this dynamic organization. I look forward to driving growth, building strong customer relationships, and contributing to the continued success of BIG Cyber and its host of solutions focused on defending the gaming industry and protecting all who play.”

Lee earned a Bachelor of Arts degree from the University of Nevada, Reno, and a Hospitality and Tourism Management Certificate from Florida Atlantic University.

 

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BetMGM Ranked #16 on Fortune Media and Great Place To Work’s 2024 Fortune Best Workplaces in Metro New York

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BetMGM jumps 40 places from previous ranking; joins Fortune 100 companies in “large” workplace category

BetMGM announced today that Great Place To Work® and Fortune magazine have recognized the operator as one this year’s Best Workplaces in New York. The leading sports betting and iGaming operator landed at No.16 and secured the spot on the prestigious list by surpassing rigorous benchmarks, establishing itself as one of the best workplaces among companies headquartered in the New York region. About 92% employees surveyed said that BetMGM is a great place to work, 35 percentage points higher than the average U.S. company.

“Landing on this prestigious list is a reflection of BetMGM’s ongoing commitment to fostering a great work environment,” said Adam Greenblatt, CEO, BetMGM. “I am honored to lead an organization filled with dedicated and talented employees who have created a place where people feel welcomed and supported.”

To determine the Fortune Best Workplaces in New York™ List, Great Place To Work® collected nearly 140,000 confidential survey responses from employees at eligible companies. Via the Trust Index™ Survey, employees shared honest feedback about their experience by responding to 60 statements about the employee experience and answering two open-ended questions. To be eligible for the list, companies must be Great Place To Work Certified™ and headquartered in the New York region.

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Some other figures from the survey revealed that 96% of BetMGM employees were made to feel welcome when they joined the company and 94% of employees surveyed are proud to tell others that they work at BetMGM.

“Congratulations to the Best Workplaces in New York,” said Michael C. Bush, CEO, Great Place To Work®. “As the business landscape is disrupted — from AI, global conflict, and market pressure — companies who have built a reservoir of trust with their employees will be more resilient and, ultimately, more successful.”

In 2022, BetMGM was No. 56 on the Best Workplaces in New York™ list and in 2023 they were Certified™ as a Great Place To Work®.

In 2024, BetMGM also was shortlisted by SBC North America and EGR North America for “Employer of the Year” honors.

Great Place to Work® is the global authority on workplace culture, employee experience, and leadership behaviors proven to deliver market-leading revenue, employee retention, and increased innovation. When surveyed, employees overwhelmingly mentioned the people, inclusive culture, benefits, and work-life balance as reasons why BetMGM is a great place to work.

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According to Great Place To Work® research, job seekers are 4.5 times more likely to find a great boss at a Certified™ great workplace. Additionally, employees at Certified™ workplaces are 93% more likely to look forward to coming to work, and are twice as likely to be paid fairly, earn a fair share of the company’s profits and have a fair chance at promotion. Great Place to Work® Certification™ is the only recognition based entirely on what employees report about their workplace experience – specifically, how consistently they experience a high-trust workplace.

 

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Stake Colombia Partners with NetRefer for its Casino and Sportsbook Affiliate Marketing Platform

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Stake Colombia, the Latin America division of Stake, has entrusted its Casino and Sportsbook brands to NetRefer’s Affiliate Marketing Platform.

Colombia serves as Stake’s operational base for expansion throughout Latin America. Their influence in the booming LatAm iGaming market began in 2023, through the strategic acquisition of Betfair Colombia and its license. “Expanding into the Colombian market is a strategic decision that aligns perfectly with our vision for growth and innovation,” said Brais Pena, Chief Strategy Officer at Stake.

This vision underscores Stake’s commitment to establish itself as a key player within Colombia’s market, increasing the assertion of the nation’s status as a home for innovative foreign investments.

Stake has multiple high-profile sponsorships, and missing the iGaming giant is almost impossible. It sponsors the likes of Everton FC, the UFC Franchise, and now in 2024, they announced their biggest move to date: their very own Stake F1 Team. The company’s redefining of brand partnerships also includes a deal with Megastar rapper Drake. Now, with the establishment of Stake Colombia, the company is accelerating its massive influence in the LatAm market.

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In iGaming, it takes more than high-profile sponsorships to get to the top and stay there. To win that battle, Stake Colombia has an armada of popular Casino Games, Slots, Live Casino, Blackjack, and Drake’s favourite, Roulette, to accompany its extensive Sportsbook and keep the iGaming business skyrocketing to success. Apart from providing their customers with world-class games, how-to guides, and display boards promoting the best paying-out games, their easy-to-use platform allows players to place bets on various sporting events with minimal clicks and effort.

Stake works hard to maintain its dedication to fair play, legal operation, and transparency. This is demonstrated in their verified status with the Crypto Gambling Foundation and projects to promote responsible gambling. Their status as a ‘Crypto Casino’ is backed by all the cryptocurrency giants, such as Bitcoin, Ethereum, and Dogecoin, to name a few, in the jurisdictions in which this payment method is allowed.

Also noteworthy is the company’s commitment to security. State-of-the-art encryption methods and 24/7 customer support come as standard with Stake Colombia. Their priority to maintain player satisfaction is achieved through unique reward programs and campaigns, including their superb betting events with the rapping legend Drake, enhancing a better gambling experience and contributing to overall affiliate commission earnings.

Being a Stake.com.co Affiliate means earning commission for all bets placed on its Casino and Sportsbook, which, unlike traditional affiliate programs, means earning money even if players win. This ability to go above and beyond industry practices in various sectors has surely paid dividends to Stake’s rise to power.

Stake Colombia has partnered with NetRefer as their Affiliate Marketing Platform provider with Casino and Sportsbook brands. NetRefer expresses its delight to have such a renowned market leader join their client portfolio and become part of their journey to continued success.

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Become a Stake Affiliate: https://stake.com.co/es/afiliados-resumen

Learn more about NetRefer: https://netrefer.com/

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