Golden Matrix Group, Inc. (NASDAQ: GMGI), the parent company of renowned brands such as Meridianbet, has seen significant contributions from its sweepstakes business segments as well - RKings Competitions and Classics for a Cause. These two brands have emerged as strong performers within the company's portfolio, blending entertainment with broader impact and adding notable value to its overall operations.
RKings Competitions: UK’s Leading Online Competition Platform
Founded in 2018, RKings Competitions has established itself as a leading online competition platform in the United Kingdom and Northern Ireland. The platform provides participants with the chance to win luxury prizes, such as high-end cars and upscale homes, at a fraction of their retail value. Over the years, RKings has distributed thousands of prizes across the UK and Ireland, earning a strong reputation for its engaging offerings and building trust within its growing community.
As a wholly owned subsidiary of GMGI, RKings contributed a substantial 22% of GMGI’s Q3 2024 revenue, amounting to $8.88 million in the quarter and $18.54 million year-to-date, cementing its position as a vital growth driver for the group. With an average customer acquisition cost of just cca. $2, RKings continues to operate as one of the most efficient and scalable units within GMGI’s portfolio.
Classics for a Cause: Driving Positive Change in Australia
In Australia, Classics for a Cause stands out as a unique platform merging entertainment with philanthropy. This innovative subsidiary partners with Australian charities to amplify their fundraising efforts by raffling vintage cars. Beyond financial support, the platform helps raise awareness for vital causes, creating a ripple effect that inspires additional donations and corporate sponsorships long after the raffles end.
Although acquired only two months into Q3 2024, Classics for a Cause has already made a significant impact, contributing 5% of GMGI’s Q3 2024 revenue, or $2.18 million. The brand's strong initial performance underscores its potential for long-term success and market penetration in Australia’s rapidly evolving charity gaming segment.
Both RKings and Classics for a Cause share a compelling proposition—allowing participants to win life-changing prizes through affordable, small-stake entries. Whether it’s a dream car, a luxury home, or supporting a charitable mission, these brands offer unmatched value and experiences that resonate deeply with their audiences.
GMGI ensures that both RKings and Classics for a Cause adhere to stringent national and state regional sweepstakes regulations and advertising standards. The company prioritizes ethical practices, transparency, and robust compliance frameworks, further solidifying its reputation as a trusted leader in online gaming and entertainment.
As GMGI enters the final quarter of 2024, the company anticipates substantial contributions from both RKings and Classics for a Cause, reinforcing its trajectory of sustainable growth and innovation.
