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Golden Matrix Group, Inc. (NASDAQ:GMGI) announced Monday that Chief Executive Officer Anthony Brian Goodman will depart the company effective December 12, 2025, unless otherwise agreed by the parties, according to a statement based on a recent SEC filing.
The company and Mr. Goodman entered into a Severance and Release Agreement on November 25, 2025. Under the terms of the agreement, Mr. Goodman will receive a severance payment of $951,750, which represents eighteen months of his base salary and his 2025 targeted bonus, as well as $46,792 in accrued, unused vacation pay. Of these amounts, $60,000 will be paid to Mr. Goodman’s superannuation fund, $401,215 will be paid to the Australian Tax Office, and $537,327 will be held in escrow by The McGeary Law Firm, P.C. The escrowed funds will be released to Mr. Goodman and his resignation letter delivered to the company on the termination date, provided he does not revoke the agreement beforehand.
The agreement also stipulates that all unvested restricted stock units previously granted to Mr. Goodman will become fully vested as of the termination date. The company will reimburse up to $10,000 in legal fees incurred by Mr. Goodman in connection with the agreement. Until his departure, Mr. Goodman will continue to receive his salary and benefits and assist in the transition of his duties.
Additional provisions include a one-year restriction preventing Mr. Goodman from soliciting certain company executives or customers for competing products or services and from accepting executive roles with direct competitors in the online casino, sports book, or online raffle sectors, unless consent is provided by Golden Matrix Group. Mr. Goodman may retain his roles with Elray Resources Inc, Articulate Pty Ltd, and Luxor Capital LLC.
Following Mr. Goodman’s resignation, the board appointed William Scott, currently Executive Chairman, as interim Chief Executive Officer and Principal Executive Officer, effective on the termination date. Mr. Scott will continue to serve as Executive Chairman.
This information is based on a press release statement included in the company’s recent SEC filing.
In other recent news, Golden Matrix Group Inc. reported record-breaking revenue for August, reaching $17.8 million, which marks an 18% increase from the $15.1 million recorded in the same month last year. The company also saw strong performance in July, with revenue of $15.7 million, a 24% rise from $12.7 million in July 2024. Additionally, Golden Matrix announced a leadership transition, with CEO Brian Goodman planning to step down by December 2025. William Scott, the company’s Chairman, will take on the role of Interim Chief Executive Officer during the search for a permanent replacement. Scott’s previous experience includes senior executive positions at GTECH/Lottomatica. Meanwhile, Freedom Capital Markets initiated coverage of Golden Matrix with a Buy rating, setting a price target of $1.80. This rating reflects the firm’s positive outlook on Golden Matrix’s operations across various gaming verticals. These developments highlight significant changes and achievements for Golden Matrix Group Inc.
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