MeridianBet completes Brazilian license waiting and Golden Matrix acquisition
Meridian Bet Group, an industry pioneer and leading Southeast European online casino and sports betting operator, has expanded its operations throughout Europe, Africa, and Latin America to continue increasing the company’s value since its launch in 2001. Golden Matrix Group, a Las Vegas-based gaming technology company, expects a $30 million acquisition deal to be signed in the first quarter of 2024. Meridian Bet Group announced each recent update to its business prior to the pending acquisition of Golden Matrix Group.
According to a press release, Meridian maintained its revenue growth trend in 2023, achieving 25% year-over-year revenue growth. This figure demonstrates almost the same full-year growth achieved by the operator, compared to the 24% revenue growth seen in 2022. Similarly, the company increased EBITDA by 10% and net income by 6%, confirming stable operating growth in recent years.
According to the group, growth in 2023 was largely thanks to the introduction of new products and continued expansion across a number of regulated gaming markets. Meridian’s proprietary gaming platform Atlas was successfully launched in approximately 40% of all jurisdictions covered in 2023, according to a press release. The company is said to have seven new slot releases that are fully approved in each market. In addition, the company’s vertical expansion studio released a new number game WinGo, reporting a 55% monthly revenue growth rate with November figures of $2 million.
Legislative and regulatory roles:
In the same year, Meridian partnered with six new online game providers and 36 media outlets for promotional purposes. At the same time, the company is said to have strengthened its position as a founding member of the European Gaming Law Organization (EOGL), based in Brussels, by continuing to participate in legislative and regulatory discussions of industry-leading organizations.
According to a press release, the aforementioned activities have led to the presence of current Meridian in 15 regulated gaming markets in Europe, Africa, and South America. The group boasts expansion into Kenya, its largest African market, and the possibility of adding South Africa already in the first quarter of 2024. For the Latin American market, Meridian has already established a gaming and sports betting business in Brazil and is reportedly awaiting approval for a Brazilian gaming license to launch its platform. Such approval will reportedly draw the company into the lucrative Brazilian market, with revenues of around $2 billion in 2024 and annual growth of around 16.5% in the coming years. 파워볼실시간