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Golden Matrix Signs Agreement to Acquire MeridianBet Group

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Golden Matrix Signs Agreement to Acquire MeridianBet Group
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Golden Matrix Group, Inc., developer, licensor and global operator of online gaming and eCommerce platforms, systems, and gaming content, and MeridianBet Group, Southeast Europe’s leading business-to-consumer (B2C) sports betting and gaming group with headquarters in Malta, operating in multiple markets across Europe, Africa, and Latin America, today announced that GMGI has entered into a definitive acquisition agreement pursuant to which it has agreed to acquire MeridianBet Group and its related companies in a cash and stock transaction valued at approximately $300 million (the “Acquisition”).

The acquisition, when completed, will provide GMGI access to new and fast growing regulated B2C markets that have experienced double digit compound annual growth rates (CAGRs) since 2020[i], supported by a network of over 1,100 highly skilled MerdianBet professionals. The acquisition is expected to close in the first half of 2023, subject to customary conditions to closing, including GMGI raising required funding, completion of due diligence, GMGI shareholder approval, and regulatory approvals. The combined pro forma revenues of both companies are expected to be greater than $100 million in FY2022, with an EBITDA estimated to be greater than $22 million for the pro forma year ended 31 October, 2022, making the combination financially appealing and earnings-accretive.

Both companies plan to continue operating under their respective brands.

Transaction Highlights

  • Creation of a combined group of profitable and cash positive companies, with enhanced buying power.
  • Access to new markets globally.
  • Increased competitive edge supporting over 600 third party casino brands on combined proprietary platforms and over 3.5 million registered retail customers in the B2C facing businesses.
  • Following the acquisition, GMGI expects to be positioned for growth, both organically and through further acquisitions, and through supported proprietary technology solutions across retail and online.
  • Following the acquisition, GMGI expects that synergetic growth opportunities will exist in core markets through the strong MeridianBet brand and growth prospects of other GMGI B2C brands and market entries.

Rationale for the Planned Acquisition

MeridianBet Group with a strong B2C presence in European, Latin America (LATAM), and African sports betting markets – and over 38% year-on-year revenue growth, Fiscal Year 2022 over 2021 – combined with Golden Matrix’s B2B gaming platforms supporting over 6.8 million registered users is expected to result in complementary aspects of the business and a significant increase in market share for both companies.

As a Nasdaq company, Golden Matrix has been seeking opportunities to grow and expand in a strategic and sustainable way. The acquisition of MeridianBet presents a unique opportunity for GMGI to achieve this growth while also gaining access to new markets and resources. Additionally, MeridianBet is a profitable and unique company, which is expected to bring valuable expertise and assets to the combined entity. Overall, the acquisition of MeridianBet is anticipated to bring significant benefits to GMGI from both a financial and operational standpoint, and GMGI’s management team is confident it will drive long-term value for shareholders.

Brian Goodman, CEO of Golden Matrix:

“We are thrilled to announce our entry into a purchase agreement with the shareholders of MeridianBet Group. We believe that this acquisition will provide us entry into a well-established and highly scalable B2C vertical in new markets outside of our core markets. MeridianBet Group appealed to us with its proven business model that emphasizes organic growth, resilience to external economic factors, and exceptional products and technology. We are pleased to be on the path to completing this acquisition and look forward to strengthening and growing our position in the global online betting and gaming industry, expanding into new regulated markets, and maintaining our ongoing drive to scale the business as a whole at a rapid growth rate. MeridianBet Group’s regional market strength, brand awareness and proprietary technology solutions across the enlarged group are also expected to further accelerate our growth and expansion into new territories.”

Commenting on the Acquisition, Zoran Milosevic, Chief Executive Officer of MeridianBet Group said:

“Today marks a major milestone for MeridianBet Group and its employees. As a public company traded on Nasdaq, in synergy with Golden Matrix, we expect to set an industry standard when it comes to worldwide gaming platforms and to be in an even stronger position to deliver on our aggressive growth strategy and expand into new markets, including  Brazil and the US. Our brands, which are well known among worldwide online betting and gaming communities, are stronger together; and I am looking forward to working closely with Brian Goodman as we conclude the acquisition. I would like to take this opportunity to express my gratitude to Brian for his hard work and determination, in what has been a testing global macro economic environment for all. I thank the entire GMGI and MeridianBet team for their dedication and commitment to finalize this agreement. We are excited about the many opportunities we can pursue together in the years ahead, and we look forward to updating shareholders and employees on our progress and working towards closing the acquisition and continuing as a combined group.”

Terms of the Acquisition

The purchase price payable to MeridianBet Group shareholders will be satisfied by the issuance to MeridianBet stockholders of approximately 65.3 million common shares of GMGI, based on an agreed price of $3.50 per share, and $70 million in cash. Upon closing of the acquisition, the MeridianBet Group of companies will become wholly-owned subsidiaries of GMGI. The acquisition agreement has been approved by the Board of Directors of each company.

“From the perspective of MeridianBet Group,” added Mr. Milosevic, “the strategic rationale behind the deal and becoming part of a Nasdaq-listed company is to be more competitive and successful in Brazil, the United States and other large markets – where market entry for private companies is more challenging. We are confident the best days of sports betting and online casinos are yet to come, with gaming regulation rolling out globally, creating opportunities for us to expand into these emerging markets.”

No change in the Company’s name is planned in connection with the acquisition, and the Board structure is expected to remain the same, with the sole exception being Mr. William Scott joining as Chairman of the Board. Mr Scott is a seasoned veteran in the regulated gaming industry and is currently an advisor to MeridianBet Group.

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SOFTSWISS Launches Bug Bounty Program to “Hack the System”

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SOFTSWISS Launches Bug Bounty Program to “Hack the System”
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SOFTSWISS, a leading software supplier in the iGaming industry, has announced the launch of its private Bug Bounty Program to boost cybersecurity. The program invites white hat hackers and independent security researchers to identify vulnerabilities, offering rewards for their findings and ensuring the highest level of security for SOFTSWISS clients.

To ensure that only significant cases that meet specific requirements are reported, SOFTSWISS launched a private program with invitation-only access. Invitation-only programs encourage white hat hackers to pay close attention to their terms and requirements, resulting in higher-quality reports. While public programs can offer broader perspectives but tend to generate more irrelevant reports, the private launch ensures that the focus remains on critical security issues. 

The Bug Bounty Program offers financial incentives of up to 3,500 euro, depending on the severity and complexity of the discovered vulnerabilities. This program serves as an additional layer of defence, providing external, unbiased assessments from highly skilled security experts. 

“We care about the security of our clients and their players, which is why it is important for us not only to pay close attention to protecting the products we develop but also to constantly recheck our applications with the help of skilled external experts and enthusiasts. In collaboration with the expert community, we can ensure a reliable level of data protection and uninterrupted operations for all our clients,” said Evgeny Zaretskov, Group Chief Information Security Officer at SOFTSWISS. “SOFTSWISS is proud to set a new standard for cybersecurity by leveraging crowdsourced expertise. In this ever-evolving landscape, even a minor bug can lead to significant losses for operators. The Bug Bounty Program is an extra measure to protect our existing and future clients.”

The program has started with two products: the SOFTSWISS Casino Platform and the SOFTSWISS Sportsbook. It is conducted in a dedicated test environment, which operates independently of live casino systems, ensuring no disruption to player experience or platform performance.

“Cybersecurity is an ongoing battle,” adds Artyom Buchkov, Deputy CSO. “No company can discover all vulnerabilities on its own. This program enables talented hackers to legally hack an online casino, helping us anticipate and defend against potential threats. It strengthens our commitment to providing the most secure software and platforms in the iGaming industry.”

Moving forward, the SOFTSWISS cybersecurity team plans to broaden the frames, adding more products and refining requirements to maintain the highest standards of security across all platforms.

Cybersecurity in iGaming, along with other key topics in the industry, can be discussed with our specialists and product teams at the SBC Summit Lisbon at stand B-160 from 24 to 26 September.

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

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Peter & Sons’ Unleashes ‘Evil Devil’ Slot

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Peter & Sons’ Unleashes ‘Evil Devil’ Slot
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Cutting-edge game studio Peter & Sons is about to unleash hell. The Barcelona-based outfit’s diabolical new slot, Evil Devil, will be released globally on 19th September, and it comes packed with wickedly innovative mechanics, such as sticky respins, power splits, increasing multipliers, and a thrilling Free Spins Game with a possible buy option.

This 6×7 high-volatility video slot with up to 117,649 ways to win immerses players in a cartoonish hellscape presided over by the fiery lord Satan Sama. With a devilish surf guitar soundtrack and chaotic but gripping gameplay, there’s nothing else quite like it on the market.

Winning combinations in the base game trigger the sticky respin feature, causing winning symbols to stick in place while the non-winning symbols respin. Wild symbols can appear on reels 2 to 6, increasing the chances of forming winning combinations.

But all hell breaks loose when 4 to 6 scatter symbols land on the reels, awarding 15 to 20 Free Spins. Here, winning symbols stick to their positions, triggering a respin of the non-winning symbols.

Collecting three or more skull symbols during Free Spins triggers a random multiplier. Meanwhile, power splits can randomly occur during the first respin, converting winning symbols into wilds, enhancing the chances for some big payouts.

Can’t wait to hit the bonus feature? The good news is you can buy straight into the Free Spins game for 100x the bet, instantly accessing 15 to 20 random free spins and the game’s most thrilling features.

Yann Bautista, Commercial Director and Founder at Peter & Sons said: “We’re always looking to push boundaries in everything we do, and we like to let our artists’ imaginations run wild. Too often with online slots you see the same tired themes and clichés. We think Evil Devil is an avant garde masterpiece – but it’s underpinned by solid mechanics and brilliant features.”

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Aston Villa launches Champions League campaign with Betano by its side

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Aston Villa launches Champions League campaign with Betano by its side
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The Villans and their principal partner celebrated the club’s return to topflight European football, in an event bringing togethers legends of the past and stars of today

Aston Villa FC has embarked on its first ever Champions League journey with a 3-0 victory over BSC Young Boys in Bern’s Stadion Wankdorf this past Tuesday. A few days earlier Aston Villa and their principal and front of shirt partner Betano, Kaizen Gaming’s premium online sports betting and gaming brand, celebrated the Villans’ historic first ever Champions League campaign with a special event hosted  at Aston Villa’s Bodymoor Heath training ground.

The event brought together legendary members of the 1982 European Cup winners, Nigel Spink and Kenny Swain, former player and Aston Villa ambassador, Ahmed Elmohamady and current stars, captain John McGinn, Ezri Konsa, Pau Torres and of course coach Unai Emery. Attendees had the opportunity to meet and hear directly from their favorite stars, while also participating in different activities, including an exclusive tour of Aston Villa’s training facilities and a behind the scenes look of the team’s training session. The club’s third kit was also unveiled for the first time ever during the event. The kit proved to be a lucky one as it was worn in a game for the first time in the Champions League match in Switzerland. For this match Betano donated its front-of-shirt space to Aston Villa, which in turn offered it to Acorns Children’s Hospice.

Julio Iglesias Hernando, Chief Commercial Officer at Kaizen Gaming, commented: “We are very honoured as Aston Villa’s official main shirt sponsor to stand alongside them in this next exciting chapter of their illustrious 150-year history. This is truly an exciting time to be a fan of Aston Villa, as we all share the club’s passion and determination to improve every day, to compete with the very best and to claim their place among the elite.”

Chris Heck, President of Business Operations at Aston Villa, added: “We are proud to have Betano join us as we embark on a new era for Aston Villa. They are a global brand engaging with millions of football fans across Europe and Latin America which matches our vision to globalise our club. Their passion for football and commitment to responsible gaming and giving back to society aligns perfectly with our own club values. The return to the top of European club football is an exciting moment for our fans, partners, and everyone involved at the club. ”  

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