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Aleksandar Milovanovic, a member of a 10% reporting group for Golden Matrix Group, Inc. (NASDAQ:GMGI), recently acquired 2,514 shares of the company’s common stock. The shares were purchased at prices ranging from $1.96 to $1.97, totaling approximately $4,952. Following this transaction, Milovanovic holds 79,164,552 shares in the company. The timing appears favorable, as InvestingPro data shows GMGI’s stock has gained 8.63% over the past week, currently trading at $2.04. The company, valued at $452.36M, trades at a P/E ratio of 5.1.
Milovanovic’s purchase is part of a broader engagement with a voting group that includes Golden Matrix’s CEO Anthony Brian Goodman and Luxor Capital LLC. This group collectively owns more than 10% of the company’s outstanding shares.
The transaction details were disclosed in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Golden Matrix Group, Inc. reported a notable 61% increase in revenue for fiscal year 2024, reaching $150 million, up from $93 million the previous year. This growth is attributed to the company’s expansion into key markets such as South Africa, Peru, and Australia, alongside a broader portfolio of sports and iGaming offerings. The recent acquisition of Meridianbet has played a significant role, with the combined pro forma revenues estimated at approximately $163 million for the year. In addition to these financial developments, Golden Matrix’s subsidiary, Meridianbet, secured a 10-year renewal of its online gaming license in Serbia, ensuring continued operations and revenue stability in the region. The company also announced the appointment of Ms. Snezana Bozovic to its Board of Directors, enhancing its corporate governance amid ongoing global expansion efforts. Furthermore, Golden Matrix has approved new compensatory arrangements for its executives, including restricted stock units and contingent cash bonuses linked to performance metrics. These incentives align executive interests with shareholder goals, reflecting a broader industry trend. Lastly, changes to the company’s board structure were made through an amended agreement, which includes new voting conditions and share transfer restrictions.
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