Golden Matrix Group Inc. (NASDAQ: GMGI) has announced its financial and operational results for the second quarter ended June 30, 2025, revealing a 9.6% increase in total revenue year-over-year, reaching $43.2 million. This growth comes even as the company navigated through customer-friendly sports outcomes in its European operations, demonstrating its ability to maintain momentum towards its full-year revenue targets. The company's strategic adaptability and focus on growth markets have been key drivers of this performance.
Operational achievements include a significant 30% rise in wager volume at Meridianbet and a 124% jump in new registrations, fueled by product improvements and a successful entry into the Brazilian market. With a gross profit of $24.4 million and a gross margin of approximately 56%, Golden Matrix has seen a 135-basis point improvement from the previous year. Despite these gains, the company reported a net loss of $3.6 million, primarily due to higher operating costs and interest expenses related to debt prepayment.
Meridianbet, a cornerstone of Golden Matrix's portfolio, reported a 16% increase in revenue to $29.2 million, with online revenue growing by 20%. The casino segment also enjoyed robust growth, with a 29% increase in Gross Gaming Revenue (GGR) and turnover hitting $434 million. The company's strategic expansion into Brazil, a market with an estimated value of $5.6 billion in 2025, and the enrichment of its content library with 2,500 new games, underscore its commitment to capturing growth opportunities and enhancing player engagement.
The raffle ticket businesses, especially RKings Competitions, have set new performance benchmarks, achieving record daily revenues. The introduction of advanced systems has played a pivotal role in this success, with RKings Competitions processing over 30,000 orders in a single day on August 1, 2025.
Looking forward, Golden Matrix anticipates full-year 2025 revenue to be in the range of $185 million to $188 million, representing a growth rate of 22% to 24% compared to 2024. The company's strategy focuses on penetrating regulated markets, advancing its proprietary technology, and maximizing shareholder value through prudent capital management. For further insights into the financial outcomes and strategic directions, visit https://goldenmatrix.com/events-presentations/.
