Golden Matrix Group, Inc. (GMGI): Marketing Mix Analysis [Dec-2025 Updated]

You're looking past the noise to see how Golden Matrix Group, Inc. (GMGI) is actually making money heading into 2026, and frankly, the strategy is a fascinating blend of B2B tech licensing and high-margin B2C betting. As someone who's spent two decades mapping these plays, I can tell you the numbers for late 2025-like the projected 57% gross margin and revenue guidance hitting $186 million to $187 million-show a clear pivot toward profitability, supported by their proprietary Atlas platform and strategic global footprint across 25+ markets. This isn't just about placing bets; it's about the underlying tech and disciplined financial management, which is why we need to break down exactly how their Product, Place, Promotion, and Price stack up right now.

Golden Matrix Group, Inc. (GMGI) - Marketing Mix: Product

You're looking at the core offerings of Golden Matrix Group, Inc. (GMGI) as of late 2025. The product strategy is clearly segmented across B2B technology licensing and high-margin B2C operations, with a heavy emphasis on proprietary technology integration.

B2B Proprietary iGaming Platform, GM-AG (Atlas)

The B2B component centers on the proprietary iGaming platform, referred to as GM-AG, or Atlas. This platform serves as the technological backbone for some of the Group's B2C activities and is positioned for broader B2B distribution. For instance, Meridianbet continues to refine this Atlas AI-powered betting platform, integrating dynamic customer engagement tools to boost retention and user experience. Specific standalone B2B revenue figures for the Atlas platform were not explicitly broken out in the latest filings, but its benefits were noted in Q4 2024 results following its rollout.

B2C Sports Betting and Online Casino via MeridianBet

MeridianBet is the primary B2C vehicle, showing strong growth across both sports and casino verticals. In the third quarter of 2025, MeridianBet segment revenue rose 26% year-over-year to $32.5M. The casino vertical was a key driver, with Gross Gaming Revenue (GGR) increasing 29% year-over-year to $14.6M in Q3 2025. Casino turnover reached $434M (+30% YoY) in Q2 2025, and casino turnover per player jumped 50% quarter-over-quarter in Q2 2025. Sports betting revenue advanced 25% to $13.3M in Q3 2025, though the sports betting margin in June 2025 was pressured at 9.9% compared to the historical average of 13.3%. The expansion into Brazil, a market projected to be $5.6 billion in 2025, is a major product focus, with first deposits there up 165% quarter-over-quarter in Q2 2025.

Here's a quick look at key MeridianBet B2C metrics from recent quarters:

B2B Content from Expanse Studios

Expanse Studios, the in-house development division, supplies proprietary content including slots, crash games, and table games built on HTML5 technology. The content library is expanding to reduce reliance on third-party suppliers. By Q2 2025, the company reported expanding its content library by 2,500 titles. The portfolio is stated to include 56 proprietary titles, specializing in combining classic motifs with modern design. The studio completed its fourth major integration in the U.S. sweepstakes market by February 2025, solidifying its presence across 40+ states.

B2C High-Margin Raffle and Competition Platforms (RKings, Classics for a Cause)

These raffle-based platforms represent a high-margin, recurring revenue stream, contributing 26% of total revenue. Gross margins for these units reached 57% in Q1 2025. The engagement metrics show significant daily activity:

• RKings Competitions achieved a 12% all-time daily revenue record increase during Q2 2025.
• RKings surpassed that record on August 1st by an additional 40%.
• RKings recorded more than 30,000 orders in a single day.
• Classics for a Cause generated over $300,000/month in passive recurring revenue post-acquisition in mid-Q3 FY24.

AI-Powered Bet Recommender for Enhanced Player Engagement

The AI Sports Betting Recommender is integrated into Meridianbet to offer real-time, personalized betting suggestions. For a major event like Super Bowl LVIII, this technology supported an offering of over 880 unique betting options, significantly exceeding the typical 200-400 options found elsewhere. Initial testing of the AI casino-game recommender showed tangible results:

• 3 percent increase in user engagement for recommended games.
• 9 percent increase in engagement for unseen recommended games.
• 12 percent decrease in user engagement for unrecommended games.

Industry data suggests that this level of AI-driven personalization can potentially boost user retention by 30-40% and increase average bet size by 15-25%.

Golden Matrix Group, Inc. (GMGI) - Marketing Mix: Place

The distribution strategy for Golden Matrix Group, Inc. (GMGI) centers on leveraging its proprietary technology across a wide, regulated global footprint, utilizing both direct-to-consumer (B2C) and business-to-business (B2B) channels.

The company employs an omni-channel approach for its B2C segment, Meridianbet, which includes both online and mobile betting platforms, complemented by physical presence through retail operations. Meridianbet maintains robust networks of in-shop retail and online operations in key European markets. Following the merger, the combined entity boasts 3.5 million retail customers. The overall B2C platform supports over 8.3 million registered players across its systems.

Golden Matrix Group, Inc. (GMGI) reports operating in more than 25 global markets. The Meridianbet subsidiary specifically operates across 18 markets, covering Europe, Africa, and South America.

The company has established strong footholds in Southeast Europe. Meridianbet has a leading position in Serbia and Montenegro. Specifically, the Meridianbet subsidiary secured a 10-year renewal for its online gaming license in Serbia in February 2025. The MeridianBet Group entities acquired included operations from Serbia and Montenegro.

Strategic expansion is focused on high-growth regulated jurisdictions. Golden Matrix Group, Inc. (GMGI) recently secured one of the granted betting licenses in Brazil. The launch in Brazil was a primary driver for new registrations climbing 124% in the second quarter of 2025.

The B2B content distribution, primarily through Expanse Studios, relies on a vast network of operator partnerships. As of the third quarter of 2025, the company reached the 1,300-partner milestone. Expanse Studios powers over 1,300 casino brands across Europe, LATAM, and North America.

Here are the key distribution reach statistics as of late 2025:

The distribution network includes:

• Online and mobile platforms for B2C services.
• Physical in-shop retail presence.
• B2B content delivery via the GM-AG (Atlas) aggregator platform.
• New market penetration in Brazil.

Golden Matrix Group, Inc. (GMGI) - Marketing Mix: Promotion

You're looking at how Golden Matrix Group, Inc. (GMGI) is spending to get the word out and bring in customers as of late 2025. The promotion strategy is clearly focused on efficiency, using technology to drive down the cost of bringing new players into the fold, especially given the pressure on margins seen in earlier quarters.

Focus on AI-driven technology to lower customer acquisition costs

Golden Matrix Group, Inc. is banking on its proprietary technology to make marketing dollars work harder. The company explicitly cites the optimistic benefits of its AI-driven technology as a key factor contributing to lowering its acquisition costs and extending customer lifetime value. To support this, they launched Meridian Missions, a proprietary player engagement and reward system designed to increase user retention and drive long-term player profitability by leveraging points-based gamification. This focus on retention is critical for improving unit economics, especially when customer acquisition costs are a concern.

The results of this focus on efficiency are showing up in the top-line numbers. For the third quarter of 2025 (3Q25), the company achieved record quarterly revenue of $47.3 million, which was up 15.4% year-over-year. Gross profit for that same quarter reached $26.4 million, an 18% year-over-year improvement. For the full year 2025 guidance, revenue is expected to land in the range of $186 million to $187 million, representing annual growth of 23% to 24% compared to 2024. To be fair, selling, general, and administrative expenses are still a significant part of the picture, projected at approximately 56% of revenues in 2025, so the AI and retention tools need to keep chipping away at that percentage.

B2B promotional tools like Time Free Spins for operator marketing

The promotion extends beyond direct-to-consumer efforts; the B2B segment is using product innovation to monetize operator marketing budgets. Expanse Studios, a subsidiary, deployed two new promotional game features: Time Free Spins and Bonus Game Trigger. These tools are specifically designed to enhance operator marketing capabilities and address the industry-wide issue of rising customer acquisition costs. Time Free Spins enables operators to deploy time-based promotional campaigns, typically within fixed durations like 60 seconds, aiming for high engagement rates without complex bonus administration. This addresses operator demand for scalable promotional tools that drive session frequency. This B2B push is gaining traction; during Q3 2025, Expanse Studios added over 300 new B2B operator partnerships, bringing their total distribution network to over 1,300 casino brands across Europe, Latin America, and North America.

Investor relations supported by major institutional holders like BlackRock

Investor confidence, which supports the capital structure needed for aggressive promotion and expansion, is being bolstered by institutional support. Leading institutional investors, including BlackRock, Inc. and Vanguard Group Inc., notably increased their positions in Golden Matrix Group, Inc. during the fourth quarter of 2024. In total, thirteen institutions expanded their holdings in that quarter. As of the most recent reporting, the total number of institutional owners reached 105 institutions. The total institutional shares held (long positions) amounted to 4,287,701 shares, representing a total value of $8.31 million. Furthermore, internal financial structuring supports operations; Meridianbet's founder opted for a debt-to-equity conversion on $8 million that Golden Matrix Group, Inc. owed him following the acquisition, which enhances financial flexibility.

Leveraging MeridianBet's established brand equity in 18 regulated markets

A core part of the promotion strategy is leveraging the established brand equity of the MeridianBet subsidiary. MeridianBet operates across 18 regulated markets in Europe, Africa, South America, the US, and Brazil. This established, compliant footprint provides a ready-made platform to launch new products and marketing campaigns without starting from scratch in each jurisdiction. The strength of this established base is reflected in its performance; during 3Q25, Meridianbet's revenue grew by 26%. Golden Matrix Group, Inc. itself operates in more than 25 markets worldwide, but the 18 markets where MeridianBet holds licenses are key to its B2C promotional reach.

Optimization of marketing spend to improve operational profitability

The overall goal of the promotional technology and brand leverage is to improve operational profitability. The optimization of the company's marketing spend is cited as a key factor alongside product mix shifts for the strong 3Q25 results. The company returned to net income profitability in 3Q25, reporting a net income of $400,000 (compared to a $3.4 million loss in 3Q24). This improved profitability is the direct result of scaling infrastructure and managing promotional expenses effectively. The company's net debt-to-EBITDA leverage ratio improved to 1.2 as of September 30, 2025, down from 1.8 at the end of 2024, showing financial discipline supporting growth initiatives.

Here's a quick look at some of the key operational and financial metrics tied to promotion and efficiency as of late 2025:

The promotion strategy is clearly shifting toward measurable returns, using technology to drive down acquisition costs while leveraging established brand presence for market penetration. The focus on B2B tools like Time Free Spins shows a dual approach to marketing spend-both direct consumer engagement and enabling operator marketing.

Golden Matrix Group, Inc. (GMGI) - Marketing Mix: Price

You're looking at the pricing structure for Golden Matrix Group, Inc. (GMGI) as the company executes its 2025 growth plan. Price, in this context, isn't just a single sticker amount; it's the complex interplay of betting margins, licensing fees, and the overall financial health that supports competitive accessibility.

The company has set clear top-line expectations for the year. For the full year 2025, Golden Matrix Group, Inc. (GMGI) revenue guidance sits in the range of $186 million to $187 million. This top-line projection is supported by an expected consolidated gross margin of 57% for the 2025 fiscal year. This margin target reflects the aggregation of different business units, as seen in Q1 2025 where the consolidated gross margin was also approximately 57%.

The pricing power within the B2C segment is directly tied to the betting margins realized from wagers placed on the Meridianbet platform. Here's how the revenue components factor into the pricing strategy:

• B2C revenue is fundamentally driven by betting margins.
• The historical sports betting margin is noted around 13.3%.
• Meridianbet's Q1 2025 gross margin specifically reached 72%, showing the high-margin potential of the core gaming operations.
• B2B revenue streams are structured around licensing fees and premium content distribution agreements.

The company's financing strategy directly impacts its ability to price competitively and invest in market access, such as the Brazil license. Management has taken concrete steps to strengthen the balance sheet, which underpins pricing flexibility. As of September 30, 2025, the net debt-to-EBITDA leverage ratio stood at 1.2x, an improvement from 1.5x the prior quarter-end. This deleveraging, which included converting acquisition-related debt to equity and repaying long-term debt, provides a more conservative financial footing.

To give you a clearer picture of the financial metrics underpinning the pricing environment, look at these key figures:

The pricing strategy must also account for the cost structure influencing profitability. For instance, the Q1 2025 results showed that while the consolidated gross margin was 57%, operating expenses increased to $24.3 million in that quarter, partly due to growth investments. The company's ability to maintain its competitive pricing relies on realizing operating leverage as scale increases, especially with the migration to the Atlas platform.

Consider the revenue contribution from the raffle segment, which operates on a different margin structure:

• Raffle platforms like Classics for a Cause achieved 57% gross margins in Q1 2025.
• RKings Competitions generated $6.89 million in revenue in Q1 2025.
• Classics for a Cause generated over $300,000/month in passive recurring revenue as of mid-Q3 FY24.

The pricing environment is also shaped by external market factors, such as the estimated size of the Brazil market, which Golden Matrix Group, Inc. (GMGI) estimates at a gross gaming revenue market of $5.6 billion in 2025. Finance: draft 13-week cash view by Friday.