GMGI - Earnings call transcript Q2 2024 | Golden Matrix Group, Inc.

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Operator

Good day, and welcome to the Golden Matrix Group Second Quarter 2024 Earnings Conference Call and Webcast. [Operator Instructions] Please note today's event is being recorded. I would now like to turn the conference over to Brett Milotte, Senior Vice President of ICR. Please go ahead.

Brett Milotte

Thank you, and welcome, everyone, to Golden Matrix Group's Second Quarter 2024 Earnings Call.

Brian CEO of of is and Matrix today Miloševic, Zoran Meridianbet. us Goodman, Golden CEO Group; Joining

forward-looking On questions this XXXX. on statements opportunity, growth, may and applicable call, read results, expectations, that and industries. development technological meaning our contain law. operating may we and statements, affect subsidiaries on this events, some will may in review for business forward-looking that financial to of information information the on events, future regarding security response anticipated projections second conference customers, and its Golden or and brief and the outlook the be Statements cautionary or several and call the operating quarter plan certain about I financial made or market future-oriented made regulatory expected of concerning and and respective changes Today's future conditions, including prospective constitute remarks will strategy, results call and various will Matrix statements assumptions corporation financial trends call. Certain rely this strategic economic opportunities within prospects

While and outside to cause factors, risks, these of a of are uncertainties of and that we actual performance assumptions they any the subject estimates number assumptions may will be these which expectations company's assurances There or of that outside or be -- the achievement can believe company could accurate prove the are many control other no results, reasonable, which these different. to be accurate. materially are or

and recently factors, other to release filed press discussion complete For of our these refer a publicly available disclosures. XX-Q, please

Investor release numbers earnings Goodman, website. I and found will hand Brian Group. discussed, be filed the call can Matrix on Matrix be be the now also can found press of also XX-Q Group Golden to Golden in in the and will reconciliation over of CEO Relations recently Co-Founder measures these the that Non-GAAP

Anthony Goodman

call. joining divisional Meridianbet. earnings CEO, On since Golden announce performance, outlook this quarter highlights, call everyone, with our Meridianbet's today's that this earnings welcome, on to and I'm you, and is we And for pleased our me second operational financial the the Miloševic. XXXX Matrix' call, combination overall performance will review Thank report company. successful Zoran is first to our

Our by all second results, quarter units. exceptional success driven across delivered business operational

diversity as We have the through our the all maintained been recent of by have executed pleased initiatives, consolidation of our acquisition, has Meridianbet objectives. results we am half the has a I performance dedicated result cross-platform successful product transformation. team seamless, and and report and strong as momentum short-term evidenced that of gained since to on our

of player sectors We sports the confirmed business. ourselves all and a achieving major iGaming road strong map, continue as growth industry now in and have we in with to expect a betting robust the

momentum on We result have a completed to plan as but tailwind on continue consolidation. not built of now only to found build historical new the

Meridianbet was Before relative Group, accounting on we items. business to like deemed clarify to the important the the the Due to in to the Golden comparison Meridianbet highlights, I'd size financial some of move Matrix acquirer.

reporting, performance that in have and against comparison a results. higher of comparison the would growth of performance. It improved financials are present against performance Meridianbet's and resulted the also result consolidated a about results I'm it the historical and Golden to in not financials GMGI's to to historical financial terms the that performance note Matrix' against a much important important historical As is company's note trends of is and company's consolidated

to stated and financial our are GAAP I structure. On in and are terms However, acquirer, of of new Meridianbet being will present highlights. the comparisons accounting accounting the reflective correctly

sector. to be aware, fastest-growing in are rapidly evolving segments the betting gaming, very are of is and everyone we sports sure iGaming proud I'm this As and part

strong posted performance business. have the financial across We

to Second revenue year-to-date revenue XX% the in by million, of strong last XX% shown a continuation million. quarter grew quarter, trends whilst to consolidated $XX.X grew $XX.X the

acquisition in costs well to $XX,XXX. restructuring income one-off as this and and Net quarter was acquisition. costs related This noncash the by recent impacted implementation considerable as was items

$X.X consolidated Meridianbet recognizing adjusted was quarter the implementation and the one-off Second EBITDA costs, consistent items, of million at after completion the noncash acquisition.

consolidated quarter by gross and XX% gross Second $XX.X also increased by million. million, profit to increased to profit year-to-date $XX.X XX%

sheet. The sheet. healthy to balance has balance Our a continued maintain company

and cash increase million. XXst December XX% As XXXX over company of at $XX million had of the over July, equivalents, the in $XX.X a

the million X.X. remains position only grew debt [ well leverage $XX.X equity XX% million as at company to healthy $XX.X a Shareholder (sic) with ratio of Our net debt ].

at units, new the remain of momentum. increase XXX,XXX Competitions. high-performing we costs Assets, continued related Kings XX% level now X.X year. Players very yet purchases. players of its another XXXX second tournament players through only business record R X million revenues and active year-to-date. an last been million, Kings platform, XXX,XXX. total begin Now turning total per our R with of GMG June Total total remarkable Acquisition have have have quarter I'll million A of of tickets year-to-date over acquired strong to over company, where XX,XXX as with sold and player. a $X.X now over $X.XX over low over XX been posted

aggregator gaming our Turning platform. BXB to GMAG,

our unit. Our has gross on in recent margins improving this focus business been

games, by distributing portfolio, gaming our this through our of newly achieving Expanse acquired number state-of-the-art large are clientele. We

our crash strong high portfolio margins. have highly performance diversifying popular the of by generation and games, revenue the shown are games adding very which overall both in We

grew XXX% billion. Second wagering year-to-date $X.X to quarter by staggering $X.X billion, and increased XXX% by wagering to also

generated Second we a grew revenue have by basis. continue million. now on quarter GMAG $XX gaming XXX% on to $XX the million to X system, our players growth new We year-to-date on the active GMAG million, to and by XXX% and gaming regular grew system operators over on GMAG platform sign revenue gross

and and and expect currently are trend continue. retention into loyalty systems the tools AI we improve results We revenues, implementing to system positive GMAG customer state-of-the-art and the to

new Whilst relatively has shown a casino. it growth already MexPlay, our casino is MexPlay solid trends. to operation, on Now Mexican-licensed

We over average X,XXX of a have active monthly players.

million. deposits cash quarter XXX% Second increased to $X.X

grew to now hand million, the gross and by to XXX% gaming Miloševic, $XXX,XXX. I'll revenues $X.X Second Zoran CEO Meridianbet quarter about talk to grew results. wagering to you over XXX% Meridianbet, of by

Zoran Milosevic

you, Brian, Thank welcome, and everyone.

quarterly marked excited our to promising achievements by significant are opportunities. share results strong and We

Let's first review and Meridian's key performance growth performance, indicators quarter, for our this strong reflect expansion. ongoing which market

while the saw addition which new our X,XXX betting The in Total by games ranked and growth. QX Revenue XXXX of including from X.X% XX% growth. providers. Sports second XX.X rose a the increase deposits and A betting. April grew The led all growth. Online revenues Expanse X%. This of Heli online, compared XX% significantly engagement to amounted retail with QX also revenue retail of Despite registration number casino robust online games. in given others QX outcomes the we Sports from million, library to both in standard online revenue, The to a casino achievement X,XXX our extensive approximately Super XXX,XXX, impressive tough recorded offered. In QX, is Studios, XXXX. QX May, among game XX% in the QX XX.X% compared of compared maintained in XXXX. online player rise, compared various was particularly sector growth to by to in robust USD by bolstered segment XXXX. success. QX QX increased marking XXXX growth new XX% to reflecting year-over-year XXXX,

for gaming sports of revenue QX targeted from online QX European during gross to improved posted XXXX, performance. soccer X.X% to Our XXXX championship. Retail in up margin X.X%, thanks retrospective marketing sports

of from and XX.X% April to in XX% of sports the gaming revenue gross XXXX. quarter in results XXXX retail influenced dropped XXXX, margin second second The the football of by month quarter unfavorable during QX May

However, a XXXX. half the above XX% new for June monthly the GGR, set first of record of average

expanded The XXX of slightly X.XX% decreased casino QX driven machines, of in This enhancing satisfaction. grew addition rise XXXX slot QX offerings margin in Online XX% machines from QX in and to due retail from by wagers was and game XX% library. Retail amount online Revenue casino our new in X.XX% growth. year-over-year, by XXXX to a XXXX. customer our margin.

global major continues to Leveraging we combined expand entry, Golden are its a this Since jurisdictions. market Matrix April in becoming believe part our year, for New of footprint. next poised Brazil. Meridianbet we strength,

with select XXX at a to potential well betting fastest-growing are approximately access operators of we player projected substantial across opportunities one million with to billion pending base positioned that by are ensures XX of planet's XXXX. market believe that potential believe this access market. leverage growth USD of the substantial uniquely We we Brazilian and licenses, one positioned the we federal As global gaming

stopped Our there, course. of hasn't strategic expansion

to and We Peru, X.X% valued revenue at is is and have X.X in at is reach our in the South million new and iGaming gaming growing expected where digital Africa, USD $XXX.X XXXX. industry annually billion secured licenses

believe that and global upward We just to in market. are expect continue the gaming participating our trajectory we not

in it. Investment shaping AI. actively are We and tech

thrilled -- the operations like utilize us ]. new final us our completely by seen by with our marked will our highlight for industry our to AI and X% our It's called results anticipate infrastructure. software that been leaders as latest to are wise is our also games games, investment and announce also This we forefront we pleased gaming well. has engagement now experiences With the marks increase upgrade recommended at AI. recommender we platform a betXXX transitioned we history In steering compete in most innovation, our journey that continued significant of the That's generation driving a are continued player in Atlas, new to in overhaul software boost and have of position this quarter just the Betano, month, we software. Atlas. of and who success. I'm positioned for game an casino transforming one have industry market that This innovations phase we [ to AI-powered X% keep new already X-year with core latest introduced to like why represents believe

are complete in QX of XXXX. all transition track by We remaining countries on to

its Expanse market significant is making Studios Studios. presence. strides expanding in Expanse

Jersey We license. are The application industry process process the U.S. market iGaming well service confirmation. and final in for the applying New casino pending entering competitive by underway is enterprise of

for have license pursuing Romania. Europe. ] advancements footprint Bulgarian market regulatory that to a expanding our and in iLicense these and believe secured are Additionally, in Croatia We [ we key

such our trajectory. a to our is participation America as compared Manila further SiGMA industry events emphasized SOFTSWISS, achieved XXXX, with in strong increase well Paulo, Notably, by our SiGMA QX Asia São revenue XXXX communities completing our in integration Expanse Americas XX% impact. high-profile as supporting major as North growth and growth New QX Studios performance in creating and This SBC Jersey in and in highlighting

Rio our in at relief alongside efforts flood its the reflecting in campaign, engaged Betting to Grande social do our various social ongoing and support actively donations sustainability. report On remains potential for Help. for “Scan. initiatives, homes educating last business uses impact. local to front, in Brazil; exceed the impact our making In Sul to aimed for the of in us This dedicated which These XXX in first we efforts excellent snapshot our positive of half communities Highlights positive about responsibility and to dedication initiative year Europe; our CSR a community campaigns. underscore were setting XXXX, to trajectory equipment children Group and maternity environmental -- essential cleanups XXXX, in we Meridian risks. to QR a corporate global record hospitals participation and codes Awareness on responsibility. made of include fund commitment our is QX our

and to excited to continue delivering are we on build ahead, achievements strengthening our stakeholders. look while value market these we our position As

of the are our and made growth you journey. we've for confident this strategic driving Thank for quarters. continued initiatives and coming all will and support keep that part investments in success being We

and forward will Brian. momentum this back move going keep you turn Let's to now together. I

Anthony Goodman

Thank cash maintain sheet emphasizing to you, balance hand. us without finish have capture on And well of It significant we significant to our the to a that Zoran. are opportunities and the we goes I'd growth. transformed up most robust belief saying positioned that extremely with ahead by company. like streamlined have we and importantly,

be and settle the flexibility at most July, to million the a us debt only $XX to cash, XXst position make of consolidated in debt if our to any are but over points XXXX. million had by $XXX need in derivative settle and annual targeted per not and of are quarterly expected current $XX of a are improving revenues towards we in to results we position to over per the arises. to As any These continuing come, EBITDA we importantly, just annum adjusted accretive million progress of giving also results acquisitions the annum over

and plan by our company to via scale we order of new in strategy, acquisitions footprint. expand in investing continue to our the As part to global markets

disciplined profitable, positive done we deploy towards M&A date, We as and towards will planning have approach capital a to businesses. only to continue take to robust cash

unmatched capabilities. extremely an margins. what on continued excellence, positions and diversified focus market have And driving double-digit expect well We operational sustainable healthy value, believe plan we shareholder are enhanced as business, we to as and cross-platform growth with we

Our is invest such, and of business industry-leading And and success. talent. units we talent will in our across our the disciplined continue key culture their as our one doubt to no high-performance to

very to As I wrap work come, validation results that expected all everyone, like thank up, to I'd future. of like and of am call. results their listening our closing, say for hard about excited these employees I for dedication. our to I'd In are our the Thanks, quarterly ongoing and a to

Operator

webcast. you. and This conference concludes call Thank today's

disconnect now your lines. may You

Golden Matrix (GMGI) 13 Aug 242024 Q2 Earnings call transcript