Golden Matrix Group Inc. (GMGI) announced that CEO Brian Goodman will retire effective December 12, 2025, and that board chairman William Scott will assume the role of interim chief executive officer. Scott will also chair the committee responsible for selecting the next permanent CEO.
Goodman has overseen GMGI’s transformation from a micro‑cap operator into a diversified, NASDAQ‑listed iGaming and sports‑betting group. Scott brings a decade of experience from GTECH/Lottomatica, where he helped pivot the company from a lottery‑focused model to a broader international gaming portfolio. The board’s decision signals confidence that Scott’s operational expertise and deep industry knowledge will accelerate the company’s strategic execution and scale during a period of rapid expansion.
In the most recent quarter, GMGI reported revenue of $47.3 million, up 15% year‑over‑year from $41 million in Q3 2024. Gross profit margin expanded to 56%, a 111‑basis‑point lift driven by marketing optimization and a favorable product mix. Adjusted EBITDA rose 32% to $5.7 million, while net income turned positive at $0.4 million after a $3.3 million loss in the same period last year. Full‑year 2024 revenue reached $151.1 million, a 63% increase over 2023, but the company posted a $1.4 million net loss, down from a $13.7 million profit in 2023. Management has tightened its full‑year 2025 revenue guidance to $186–$187 million, representing 23–24% growth over 2024.
Scott will oversee the Atlas platform rollout, AI‑driven engagement tools, and market entry into Brazil, Peru, and South Africa. The Atlas platform, a fifth‑generation core system, is expected to enhance betting and iGaming capabilities while the AI tools aim to increase player retention and monetization. The company’s expansion into regulated markets is a key growth driver, with Meridianbet’s Brazil license providing a foothold in a high‑potential market.
William Scott said, “Golden Matrix is built on solid ground—diversified, profitable, and prepared to scale. Brian laid the foundation; our next chapter is about execution, scale, and consistent performance. With strong fundamentals, global reach, and disciplined execution, we believe we are positioned to outperform the market and deliver exceptional long‑term value for our shareholders.” The market reacted positively, with the stock rising 9.7% following the announcement.
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