{"id":2239,"date":"2023-07-05T15:02:52","date_gmt":"2023-07-05T14:02:52","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=2239"},"modified":"2023-07-05T15:02:53","modified_gmt":"2023-07-05T14:02:53","slug":"golden-matrix-revises-meridianbet-acquisition-terms","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2023\/07\/05\/golden-matrix-revises-meridianbet-acquisition-terms\/","title":{"rendered":"Golden Matrix Revises MeridianBet Acquisition Terms"},"content":{"rendered":"\n

Golden Matrix Group Inc (GMGI) <\/strong>has upgraded its Acquisition Agreement to settle the terms of its purchase of MeridianBet<\/strong>, a B2C<\/strong> betting and gaming operator based in Malta and operating in Europe, Africa and Latin America. <\/p>\n\n\n\n

Under the revised agreement, GMGI reduced their offer to MeridianBet from $50 million to $30 million. Upon closing, MeridianBet will receive an unconditional cash refund of $20 million. These changes to the agreement come about as GMGI<\/strong> headquarters in Las Vegas is actively working to secure the necessary funding to successfully complete a transaction with MeridianBet.<\/p>\n\n\n\n

Anthony Brian Goodman<\/strong>, GMGI CEO explained: \u201cIn consideration of the reduced cash amount required to be paid at the closing of the transaction, the revised cash and stock transaction now has a value of approximately $331m, with the stock consideration priced at $3 per share \u2013 currently an approximate 38% premium to GMGI\u2019s 30-day VWAP closing price (with 82,141,857 shares of common stock due at the initial closing). <\/p>\n\n\n\n

\u201cMeridianBet has increased its year-to-date revenues considerably against last year\u2019s revenues and the proforma performance of the combined company following the acquisition is now projected to be approximately $31m in Adjusted EBITDA for the October 31, 2023 year, and approximately $139m in revenue, based on MeridianBet\u2019s year to date financial statements and financial projections.\u201d<\/p>\n\n\n\n

Golden Matrix, having entered into a deal to acquire MeridianBet at a discount, plans to submit relevant authorized statements for shareholder approval by the third quarter of this year.<\/p>\n\n\n\n

The company expects the acquisition to close in the third or fourth quarter of 2023, subject to “various conditions” being met, including raising the necessary funds and obtaining shareholder approval.<\/p>\n\n\n\n

MeridianBet’s takeover by Golden Matrix, a Las Vegas-headquartered company, does represent a bit of a departure from trends in the transatlantic betting and gaming industry, where European companies are looking to actively infiltrate the North American market.<\/p>\n\n\n\n

By acquiring MeridianBet, Golden Matrix is \u200b\u200bintegrating a company that, as noted earlier, is active in the European and African markets and is expanding rapidly in Latin America. In addition, MeridianBet has established its betting brand in South East Europe with sports sponsorships in Montenegro and Serbia.<\/p>\n\n\n\n

Goodman concluded: \u201cMeridianBet\u2019s impressive performance thus far in 2023 gives us even greater confidence in the value of this acquisition, which is expected to bring significant benefits to GMGI from both a financial and operational standpoint, and our management team is confident it will drive long-term value for all our stakeholders.\u201d
Don’t forget to subscribe to our Telegram channel!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Golden Matrix Group Inc (GMGI) has upgraded its Acquisition Agreement to settle the terms of its purchase of MeridianBet, a B2C betting and gaming operator based in Malta and operating in Europe, Africa and Latin America.  Under the revised agreement, GMGI reduced their offer to MeridianBet from $50 million to $30 million. Upon closing, MeridianBet […]<\/p>\n","protected":false},"author":6,"featured_media":2240,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[4104,2818,4103,546,2082,4105,4106,1979],"class_list":["post-2239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-european-companies","tag-gaming-industry","tag-goldenmatrix","tag-latin-america","tag-meridianbet","tag-north-american-market","tag-southeast-europe","tag-sports-sponsorship"],"yoast_head":"\nGolden Matrix Revises MeridianBet Acquisition Terms - SBC EURASIA EN<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2023\/07\/05\/golden-matrix-revises-meridianbet-acquisition-terms\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Golden Matrix Revises MeridianBet Acquisition Terms - SBC EURASIA EN\" \/>\n<meta property=\"og:description\" content=\"Golden Matrix Group Inc (GMGI) has upgraded its Acquisition Agreement to settle the terms of its purchase of MeridianBet, a B2C betting and gaming operator based in Malta and operating in Europe, Africa and Latin America.  Under the revised agreement, GMGI reduced their offer to MeridianBet from $50 million to $30 million. 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