- »Golden Matrix Expands Global Footprint With New Acquisition
Golden Matrix Expands Global Footprint With New Acquisition
Online gaming developer and license Golden Matrix Group has announced the acquisition of an advanced gaming system from Gamefish Global, a premium casino game development company based in Sydney for $174.000.
Yahoo Finance reports the acquisition was undertaken to expand the Golden Matrix Group brand and fast track the company’s global market penetration.
The purchase involved an undisclosed earnout consideration subject to certain milestones, in addition to the $174,000 cash.
The company also agreed to pay three months of monthly fees to Gamefish worth $13,050 per month for ongoing support for the intellectual property.
The aggregate system, labelled GMX-Ag, will offer a diverse portfolio of gaming products on one platform for seamless integration with gaming operators’ existing business systems, including value-added features such as content aggregation and player acquisition and retention tools.
The GMX-Ag platform will feature a full suite of gaming products comprising casino, sportsbook, lottery and live gaming and a portfolio of more than 10,000 casino games from reputed gaming providers.
The GMX-Ag platform is also to assist in launching its White Label Turnkey solutions, specifically targeting developing markets in Asia, Latin America, Africa and parts of Eastern Europe.
The sportsbook component will be powered by sports betting software and trading services provider Amelco UK Limited.
Gamesys confident it will perform above market expectations in 2021
Online gaming operator Gamesys said it was confident its revenue and adjusted earnings before tax, interest, depreciation and amortisation will be at or above current market expectations for the 2020 financial year.
Gambling Insider reported in January that the operator added that the integration of operations has progressed as expected after the merger with JPJ Group to create Gamesys Group in 2019, despite the challenges presented by the ongoing pandemic.
“Gamesys has delivered tremendous performance during 2020,” chief executive Lee Fenton said.
“Our strong growth is the result of excellent execution against our strategy, a deep understanding of our player base and our commitment to always putting players at the heart of everything we do.
“Against the backdrop of a global pandemic, our relentless focus on the sustainability of our revenue streams, coupled with ensuring player and staff wellbeing, has positioned us well to carry our considerable forward momentum in 2021.”
Mr Fenton is encouraged by the operators’ “sustainable growth”, stating that the business is in a health position financially moving forward.
The Gamesys CEO said: “We maintained strong and sustainable growth during 2020; a period in which we completed the integration of our enlarged group, entertained record numbers of active players and significantly enhanced our propositions and technology platforms.
“During the year, we also delivered a maiden dividend and as we enter 2021, we are in a strong position to continue to deliver growth in the business and create value for our shareholders.”