Golden Matrix Expands Global Gaming Footprint with Strong Q1 Performance and Strategic Market Investments

Online gaming technology company Golden Matrix Group demonstrated robust financial performance and strategic market positioning in its first quarter of 2025, reporting consolidated revenue of $42.7 million and implementing significant debt reduction strategies across its global operations.

The company's raffle segment experienced unprecedented growth, with user registrations surging 146% year-over-year and 26,000 new users joining in the first quarter. This expansion reflects Golden Matrix's successful approach to diversifying revenue streams and penetrating emerging gaming markets.

A key highlight of the quarter was the company's strategic balance sheet optimization. Golden Matrix eliminated approximately $9.6 million in Lind Global debt and converted over $9.5 million in Meridianbet acquisition-related debt into equity, enhancing its financial flexibility and reducing financial constraints.

Meridianbet, a subsidiary of Golden Matrix, made significant strides in international market expansion. The company secured a permanent online betting license in Brazil, potentially unlocking access to a projected $5.6 billion gross gaming revenue market. Additionally, Meridianbet launched B2B operations in Nigeria and renewed its 10-year online license in Serbia, demonstrating a calculated approach to geographic diversification.

The company's proprietary game development arm, Expanse Studios, advanced its North American presence by integrating into five U.S.-based sweepstakes casinos and developing an enhanced crash games portfolio. These strategic moves position Golden Matrix to capitalize on emerging gaming technologies and regulatory opportunities.

Financial projections for 2025 indicate continued growth, with the company expecting full-year revenue between $190 million and $195 million—representing a 26% to 29% increase over 2024. This forecast underscores management's confidence in its technological investments, content development, and international licensing strategies.

Despite a modest net loss of $300,000 in Q1, Golden Matrix's leadership remains focused on long-term value creation. The company's disciplined capital allocation and scalable platform suggest potential for sustained growth across regulated gaming markets.