MeridianBet Group, a leading Southeast European online casino and sports betting operator, has seen significant growth in its operations, which has caught the attention of Golden Matrix Group, a Las Vegas-based gaming technology company. Golden Matrix Group is in the process of finalizing a $30 million acquisition deal, which is expected to be completed in the first quarter of 2024.
According to a recent press release, MeridianBet’s revenue grew by 25% in 2023 compared to the previous year, with a 10% increase in EBITDA and a 6% increase in net profit, indicating stable growth. This growth can be attributed to the introduction of new products and continued expansion into regulated gaming markets.
MeridianBet’s proprietary gaming platform, Atlas, was successfully launched in 40% of the jurisdictions covered in 2023, and the company had seven new slot releases approved by respective markets. Additionally, the company’s vertical Expanse Studios launched a new numbers game called WinGo, which recorded a 55% monthly sales growth rate, reaching $2 million in November.
In 2023, the company partnered with six new online gaming operators and entered 36 partnerships with media outlets for promotional purposes. MeridianBet also reinforced its position as a founding member of the European Organization for Gaming Law (EOGL), engaging in legislative and regulatory discussions.
The company currently operates in 15 regulated gaming markets in Europe, Africa, and South America, with plans to expand into Kenya and potentially South Africa in the first quarter of 2024. In Latin America, MeridianBet has established gaming and sports betting operations in Brazil and is awaiting approval for its Brazilian gaming license, projecting revenue of almost $2 billion for 2024 with an expected annual growth rate of 16.5%.
CEO Zoran Milosevic expressed excitement about the pending acquisition by Golden Matrix Group, emphasizing the combined company’s ability to offer state-of-the-art gaming platforms in multiple jurisdictions worldwide. He believes that the completion of the acquisition will drive long-term value for all stakeholders, benefiting from economies of scale and historical revenue and profit growth.