Golden Matrix Group, Inc. (Nasdaq: GMGI), a prominent provider of gaming and technology solutions, has released its preliminary revenue estimates for the fiscal year ending December 31, 2024, projecting approximately $150 million. This marks a significant 61% increase from FY 2023 revenues of $93 million.
Following the acquisition of Meridianbet in April 2024, with Meridianbet assuming the role of accounting acquirer, Golden Matrix Group’s consolidated pro forma revenues for FY 2024 are estimated at approximately $163 million. Under Generally Accepted Accounting Principles (GAAP) and SEC regulations, this growth is measured against Meridianbet’s FY 2023 revenues as the baseline.
Geographical Revenue Distribution
- Americas: $5.08 million (3.36%)
- U.K.: $21.29 million (14.06%)
- Australia: $4.61 million (3.05%)
- Europe (Excluding U.K.): $89.78 million (59.34%)
- Asia: $17.86 million (11.80%)
- Africa: $12.61 million (8.33%)
Key Drivers of FY 2024 Performance
Golden Matrix Group attributes its strong fiscal performance to several strategic factors:
- Market Expansion: Successful market entries in South Africa, Peru, and Australia, enhancing the Company’s global presence.
- Product Portfolio: Introduction of AI-driven products within its sports and iGaming offerings, expanding its portfolio to meet evolving market demands.
- Regional Performance: Robust revenue growth across key markets globally, reflecting effective market penetration strategies and operational efficiencies.
These preliminary financial results are subject to finalization and audit. Golden Matrix Group anticipates releasing its full audited financial report for FY 2024 by March 2025.
