Confidence is turning into capital at Golden Matrix Group. The founders of its powerhouse subsidiary Meridianbet have just made a bold financial move, converting millions in acquisition debt into equity—a clear vote of confidence in the company’s upward trajectory. This move signals long-term alignment, reduced liabilities, and stronger financial muscle as GMGI sharpens its global expansion strategy.
Golden Matrix Group (NASDAQ: GMGI) has announced that Aleksandar Milovanovic, Zoran Milosevic, and Snezana Bozovic—the founding trio behind Meridianbet—have collectively converted $9,570,460 of acquisition-related debt into equity. The amount was originally part of the 12-month non-contingent post-closing cash consideration tied to GMGI’s acquisition of Meridianbet. As a result of the conversion, only $250,000 remains outstanding from this payment tranche.
This strategic debt-to-equity conversion is more than a balance sheet adjustment—it reflects a resounding endorsement of GMGI’s future by key stakeholders who have a vested understanding of its operations. By choosing shares over cash, the Meridianbet founders have signalled their belief in the company’s growth strategy and their desire to participate directly in its long-term value creation.
Brian Goodman, CEO of Golden Matrix Group, stated that this action sends a strong message to both shareholders and the broader market. He highlighted that the founders’ decision reinforces GMGI’s financial strength and signals alignment on the direction of the business. Their conversion, he added, further energises the positive momentum the company has been building across international markets.
From Meridianbet’s perspective, the decision to forgo immediate cash in favour of equity underscores a deep conviction in the potential of the merged entity. Zoran Milosevic, CEO of Meridianbet, emphasised that this move goes beyond a financial transaction. It reflects enduring confidence in Golden Matrix’s operational capabilities, strategic direction, and future profitability.
The financial implications of this move are significant. With the equity conversion, GMGI enhances its net debt leverage position—already considered strong—and frees up liquidity that can now be redirected towards accelerating its global expansion. Improved financial flexibility places the company in a stronger position to pursue growth initiatives, including new market entries, product development, and strategic partnerships.
This development is also a signal to investors that insiders—those with intimate knowledge of the company’s workings—are putting skin in the game. That level of insider confidence often speaks louder than earnings reports or investor presentations. It suggests an unshakeable belief in GMGI’s capacity to scale, innovate, and lead in the international gaming and iGaming sectors.
GMGI continues to demonstrate its commitment to shareholder value and stakeholder collaboration as it scales across global markets. With Meridianbet’s founders now more deeply embedded in the company’s future through equity, the alignment between leadership and long-term investor interests has never been stronger.
Golden Matrix Group, Inc. (Nasdaq:GMGI) positions itself as a leader in the iGaming technology space, offering casino, sportsbook, and competition products and combining cutting-edge solutions with a strong portfolio of partnerships to drive growth and innovation in the digital gaming market.
