ZORAN MILOSEVIC CEO, MeridianBet Group
BRIAN GOODMAN CEO, Golden Matrix Group
All the B2C markets where we are now live, we were once involved in B2B. In new markets where we are now going live such as South Africa and Kenya, we have been involved in the B2B side for over a decade, whilst Brazil is currently operating on a B2B model which we want to turn into B2C.
terms. We never desired to sell the company and wanted to continue running it ourselves. Our view is that the best days of sports betting and gaming in general are yet to come because much of the world is on the cusp of being regulated. Several companies wanted to acquire MeridianBet Group simply for its software and that simply wasn't an option for us. Te final company we entered talks with was Golden Matrix Group and we immediately liked their story. Te acquisition was a win-win opportunity for both of us. With Golden Matrix Group, we can be listed on the NASDAQ and grow the business with a company that's a cultural fit. Te combination took around three years to execute, and it hasn't been an easy process, but it's finally completed, and we are delighted with the outcome.
Could you tell us more about MeridianBet Group's business model?
Zoran: Te important thing for MeridianBet Group has always been to maintain a high profitability margin because that will keep us safe in the long term. When I joined the business, not a single company operating then still exists today. Te B2B segment of the business was once significant at around 50-60 per cent, but now it comprises circa 10 per cent. We offer a turnkey solution that does absolutely everything like a proper franchise should. We deliver part of our system to the end-client and user whereas competitors in the B2B industry just license software. We give away part of the system that with a view to building the business, not just to sell the software. Tis is how we have expanded worldwide through B2B and, after several years of the product being accepted by clients, we have tended to acquire these partners and turn the business into B2C. All the B2C markets where we are now live, we were once
involved in B2B. In new markets where we are now going live such as South Africa and Kenya, we have been involved in the B2B side for over a decade, whilst Brazil is currently operating on a B2B model which we want to turn into B2C.
Brian, how will Golden Matrix Group seek to leverage Meridianbet’s market presence, technology, and expertise with its existing offerings?
Brian: Te basics of a gaming business are how much you pay for players and how much you can get from players. It sounds very easy and a simple formula to follow, but the amount you acquire a player for is a big challenge because it's very competitive in some markets. In the US operators are paying ridiculous amounts of money and they will never get that money back because those players aren't loyal and likely have multiple accounts. To keep players loyal and get as much value as possible, you need extensive loyalty programmes and sophisticated software. Tis is where MeridianBet Group comes to the party. Tey have their own tried and tested technology whose results speak for themselves. We can now buy players for a low cost and believe we can retain those players.
We have proven over time that we can show value in those players, driving profitability. When you're missing some of those pieces, the formula doesn't work because it's upside down - the more players you buy, the worse your business becomes because it's a losing business. MeridianBet Group, as a sportsbook operator with sophisticated technology and artificial intelligence tools that are better than anything else available in the markets, provides Golden Matrix Group with multiple new advantages.
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