Golden Matrix Group Inc. (NASDAQ: GMGI), a leading developer and operator of online gaming platforms, has released its financial and operational results for the second quarter ended June 30, 2025. The company reported a 9.6% year-over-year growth in total revenue, reaching $43.2 million, despite facing a net loss of $3.6 million. This loss was attributed to increased operating costs and interest expenses from debt prepayment, alongside challenging sports outcomes in its European business.
Operational highlights include a 30% increase in wager volume at Meridianbet and a 124% surge in new registrations, driven by product enhancements and the successful launch in Brazil. Meridianbet's online revenue grew by 20%, showcasing strong momentum in core growth channels. The company's casino segment also saw remarkable performance, with a 29% increase in Gross Gaming Revenue (GGR) and a 50% quarter-over-quarter rise in casino turnover per player.
Golden Matrix's CEO, Brian Goodman, expressed confidence in the company's strategic direction, emphasizing the resilience of its raffle ticket businesses and the deployment of new technology systems that have already shown excellent results. The company's largest raffle ticket business, RKings Competitions, achieved record-breaking daily revenue, underscoring the effectiveness of its technological advancements.
Looking ahead, Golden Matrix anticipates full-year 2025 revenue to range between $185 million and $188 million, reflecting a growth rate of 22% to 24% over 2024. This outlook is supported by the recovery of its European business in July, which saw revenue growth return to expected trends. The company remains focused on expanding its presence in regulated markets, enhancing its proprietary technology stack, and driving shareholder value through disciplined capital allocation.
For more detailed information on Golden Matrix's Q2 2025 financial results and strategic initiatives, visit https://goldenmatrix.com/events-presentations/.
