AI in Gaming: How Golden Matrix Group is Leveraging Technology for Personalized Customer Experiences

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Katie Perry, host of Barchart's interview series, sat down with Brian Goodman, CEO of Golden Matrix Group, Inc. (GMGI), and Zoran Milošević, CEO of Meridianbet, GMGI's subsidiary, to discuss the company's diverse operations and ambitious growth plans. The conversation delved into the evolving landscape of online gaming, the strategic integration of AI, and the company's aggressive expansion into new markets.

A Global Gaming Powerhouse

Golden Matrix Group operates across a multitude of gaming verticals, offering online sportsbooks, casinos, raffle ticket businesses, and retail betting stores. "We're a very diverse company," Goodman explained, emphasizing the company's global footprint and product offerings. This diversity translates to a robust revenue stream, encompassing both Business-to-Consumer (B2C) and Business-to-Business (B2B) services.  

Meridianbet, under Milošević's leadership, plays a crucial role in GMGI's B2C strategy. While historically B2B-focused,  Meridianbet has strategically shifted towards the more profitable B2C segment. However, Milošević stressed that B2B remains vital for testing and entering new markets. "Every new market which we enter in the beginning, it's B2B," he stated.

Riding the Wave of Online Gaming

The interview highlighted the dominance of online gaming, which accounts for 65-70% of GMGI's revenues. Notably, online casinos have recently surpassed sports betting in popularity, a trend Milošević attributes to the younger generation's preference for casino-style games. "Online casino is just growing faster than sports betting," he said.

GMGI is adapting to this shift by incorporating "gamification functionalities" into its online casino offerings. This involves adding layers of complexity, such as virtual stores, bonuses, and customizable features, mirroring elements found in popular video games. "Whatever has some kind of functionality, which they saw previously, in the gaming world, they tend to like when it comes to online casino," Milošević explained.

Financial Strength and Strategic Growth

Goodman painted a picture of robust financial health, citing a solid balance sheet with over $38 million in cash and a low debt leverage ratio. A preview of the 2024 results revealed over $150 million in revenues, representing a 61% year-over-year increase. "We couldn't be healthier," Goodman asserted.

GMGI's growth strategy encompasses both organic and inorganic avenues. The company is actively pursuing expansion into new markets, particularly in Latin America, with recent licensing approvals in Brazil and Peru. "Brazil being one of the largest gaming markets in the world," Goodman emphasized.  

Furthermore, GMGI is open to strategic acquisitions that align with its existing product portfolio. "We wouldn't buy something that's not profitable and cash-positive," Goodman stated, highlighting the company's conservative approach.

AI: The Game Changer

The interview explored the transformative potential of AI in the gaming industry. Milošević revealed that GMGI has been developing AI-ready software for over five years, enabling the rapid implementation of AI functionalities.

Currently, GMGI utilizes AI in three key areas: chatbots for customer support, recommendation systems for personalized betting options, and dynamic pricing algorithms that tailor odds to individual customer preferences. "AI is in gambling. It's here to stay," Milošević declared.

Looking Ahead: A Successful Future

Both Goodman and Milošević expressed optimism about the company's future. Goodman described a promising outlook for GMGI, citing its consistent growth and profitability. "This is your best opportunity," he urged potential investors.

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