MeridianBet Enjoys Strong 2023 as Acquisition Nears Completion
LISTEN TO THIS ARTICLE:The MeridianBet Group, a global sports betting and gaming provider, has announced the results for the company for 2023, which saw the operator achieve a growth in revenue of 24% for the year. The Group points to a successful launch of new products and growth in partnerships with operators as the reasons for the healthy results for 2023.
MeridianBet Reports Impressive Revenue Growth and Expansion Plans
The 24% rise in revenue for MeridianBet is a year-on-year comparison for the company, and it builds on a similar rise of more than 20% for the same comparison for the Group in the previous year. The statement shows other key indicators showed strong figures, including a 10% rise in EBITDA and a 6% increase in net profit when compared to the same period for the previous year.
Senior Management at MeridianBet mentioned the proposed company acquisition by Golden Matrix Group, the gaming technology company, which had been due to be completed by the end of last year. The purchase has now been rescheduled to be completed during the first quarter of this year.
We are extremely pleased with our strong year-on-year operating results and continued expansion into new regulated markets. We are especially excited about the recent legislation for Online Casino and Sportsbook in Brazil, one of the world's largest gambling markets. We look forward to the completion of the acquisition by Golden Matrix, now expected in the first quarter of 2024, and how the combined company will offer state-of-the-art B2B and B2C gaming platforms in multiple jurisdictions worldwide.
Atlas Proprietary Gaming Platform
One of the headlines for the provider last year was the introduction of its Atlas service, which the company has managed to roll out to more than 40% of its global markets.
Additionally, the Group launched several new advanced slot games, and its WinGo offering saw increased revenue during the last trading quarter of the year.
Senior leadership at MeridianBet has expressed that a big part of the company's success in 2023 was due to the large number of partnerships undertaken by the provider in the previous year. This included agreements to integrate with six online gaming operators.
Meridian has welcomed the recent legislation in Brazil aimed at regulating the gaming market in the region. The provider already has a presence in the country and believes that if MeridianBet obtains a license to operate in Brazil, it will have access to a multi-billion-dollar business.
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