Golden Matrix Group Eliminates $7.2 Million Debt, Strengthens Financial Position

Gaming technology company Golden Matrix Group (GMGI) has strategically eliminated $7.2 million in debt by prepaying its Senior Secured Promissory Note to Lind Global Asset Management VIII LLC. The full repayment was accomplished using the company's existing cash reserves, ensuring no additional share dilution for current shareholders.

This financial maneuver represents a significant milestone in GMGI's corporate strategy, demonstrating the company's robust financial health and commitment to maintaining shareholder value. CEO Brian Goodman emphasized that the debt settlement reflects the company's strong underlying performance and expected growth trajectory.

The debt repayment follows closely on the heels of another strategic financial move: the conversion of $9,570,460 in acquisition-related debt into equity by Meridian founders. These actions collectively improve the company's Net Debt Ratio and provide enhanced financial flexibility as GMGI continues to implement its global growth strategy.

GMGI's strategic approach comes at a critical time for the gaming technology sector, where financial agility and strong balance sheets are increasingly important. By eliminating debt without resorting to share issuance, the company signals fiscal discipline and confidence in its current operational model.

The company operates across both business-to-business and business-to-consumer segments, developing gaming platforms and running an eCommerce competition site. With recent acquisitions like Meridianbet, which operates in 17 jurisdictions across Europe, Africa, and South America, GMGI is positioning itself as an increasingly global gaming technology enterprise.

This debt elimination underscores GMGI's commitment to creating long-term shareholder value while maintaining a lean and adaptable financial structure. The move provides the company with increased capital flexibility to pursue future growth opportunities and invest in technological innovations within the competitive gaming technology market.