Online gaming technology company Golden Matrix Group demonstrated substantial financial performance in 2024, reporting a significant 63% revenue increase to $151 million and forecasting potential revenue growth of up to 80% in the first quarter of 2025. The company's strategic approach, involving key acquisitions and technological innovations, has positioned it for continued market expansion.
The company's fourth-quarter results were particularly impressive, with revenues surging 81% to $46 million. Despite experiencing a net loss of $2.1 million, primarily due to acquisition-related expenses, Golden Matrix maintained a strong cash reserve of $30 million, ensuring financial flexibility for future investments.
Key operational highlights include Meridianbet's 14% full-year revenue growth, with online revenue increasing 18% to $80 million. The company's B2B gaming platform, GMAG, saw wagering volume increase by 84% to $4.7 billion, driven by AI-powered engagement tools and expanded content offerings.
Golden Matrix's diversified portfolio demonstrated remarkable performance across multiple segments. Expanse Studios, for instance, delivered 174% revenue growth in 2024, expanding its proprietary game portfolio to 55 titles. MexPlay continued its strong momentum in Latin America, with Gross Gaming Revenue rising 9% quarter-over-quarter.
CEO Brian Goodman emphasized the company's focus on innovation, profitability, and market expansion. Strategic priorities for 2025 include entering new regulated markets in Latin America and Europe, enhancing AI-driven gaming experiences, improving operational efficiencies, and pursuing strategic acquisitions to increase market share.
The company's comprehensive approach to technological innovation and market diversification suggests a robust strategy for sustainable growth in the competitive online gaming landscape. With its strong financial performance and forward-looking initiatives, Golden Matrix Group appears well-positioned to capitalize on emerging opportunities in the global iGaming market.
