MeridianBet Group (Meridian), the largest gaming operator in South-East Europe operating in the sports betting and gaming (B2C) sector in the European, African and LatAm markets, has presented its review of successes and progress in 2023. They also released an update on the upcoming acquisition of Meridian by Golden Matrix Group, Inc.
While the deal was initially expected to close by the first half of 2023, several changes have led to both companies now targeting the first quarter of 2024 to close the deal. The transaction is estimated to be valued at approximately $300 million and will be paid partly in cash and partly in stocks.
Zoran Milosevic, CEO at MeridianBet Group, commented: “We are extremely pleased with our strong year-on-year operating results and continued expansion into new regulated markets. We are especially excited about the recent legislation for online casinos and sportsbooks in Brazil, one of the world’s largest gambling markets. We look forward to the completion of the acquisition by Golden Matrix, now expected in the first quarter of 2024, and how the combined company will offer state-of-the-art B2B and B2C gaming platforms in multiple jurisdictions worldwide”.
Also, MeridianBet announced a 25% increase in revenue, a 10% increase in EBITDA and a 6% increase in net income compared to last year. MeridianBet’s own platform, Atlas, is now live in 40% of target jurisdictions.
MeridianBet currently operates in 15 jurisdictions in Europe, Africa and South Africa. The license for South Africa is expected to be awarded in the first quarter of 2024. In addition, the online sports betting group has partnered with 36 new media companies and integrated its products with six online casino platforms.
“The completion of this acquisition will drive long-term value for all our stakeholders as we benefit from economies of scale, and from both companies’ historical revenue and profit growth”, added Milosevic.
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