# Founders convert $9.57M debt to equity at Golden Matrix

- Link: https://www.directorstalkinterviews.com/founders-convert-9-57m-debt-to-equity-at-golden-matrix/4121192837
- Published: 2025-04-17T10:03:00+01:00
- Author: Amilia Stone

Confidence is turning into capital at Golden Matrix Group. The founders of its powerhouse
subsidiary Meridianbet have just made a bold financial move, converting millions
in acquisition debt into equity—a clear vote of confidence in the company’s upward
trajectory. This move signals long-term alignment, reduced liabilities, and stronger
financial muscle as GMGI sharpens its global expansion strategy.

Golden Matrix Group (NASDAQ: GMGI) has announced that Aleksandar Milovanovic, Zoran
Milosevic, and Snezana Bozovic—the founding trio behind Meridianbet—have collectively
converted $9,570,460 of acquisition-related debt into equity. The amount was originally
part of the 12-month non-contingent post-closing cash consideration tied to GMGI’s
acquisition of Meridianbet. As a result of the conversion, only $250,000 remains
outstanding from this payment tranche.

This strategic debt-to-equity conversion is more than a balance sheet adjustment—
it reflects a resounding endorsement of GMGI’s future by key stakeholders who have
a vested understanding of its operations. By choosing shares over cash, the Meridianbet
founders have signalled their belief in the company’s growth strategy and their 
desire to participate directly in its long-term value creation.

Brian Goodman, CEO of Golden Matrix Group, stated that this action sends a strong
message to both shareholders and the broader market. He highlighted that the founders’
decision reinforces GMGI’s financial strength and signals alignment on the direction
of the business. Their conversion, he added, further energises the positive momentum
the company has been building across international markets.

From Meridianbet’s perspective, the decision to forgo immediate cash in favour of
equity underscores a deep conviction in the potential of the merged entity. Zoran
Milosevic, CEO of Meridianbet, emphasised that this move goes beyond a financial
transaction. It reflects enduring confidence in Golden Matrix’s operational capabilities,
strategic direction, and future profitability.

The financial implications of this move are significant. With the equity conversion,
GMGI enhances its net debt leverage position—already considered strong—and frees
up liquidity that can now be redirected towards accelerating its global expansion.
Improved financial flexibility places the company in a stronger position to pursue
growth initiatives, including new market entries, product development, and strategic
partnerships.

This development is also a signal to investors that insiders—those with intimate
knowledge of the company’s workings—are putting skin in the game. That level of 
insider confidence often speaks louder than earnings reports or investor presentations.
It suggests an unshakeable belief in GMGI’s capacity to scale, innovate, and lead
in the international gaming and iGaming sectors.

GMGI continues to demonstrate its commitment to shareholder value and stakeholder
collaboration as it scales across global markets. With Meridianbet’s founders now
more deeply embedded in the company’s future through equity, the alignment between
leadership and long-term investor interests has never been stronger.

_**Golden Matrix Group, Inc. (Nasdaq:GMGI)** positions itself as a leader in the
iGaming technology space, offering casino, sportsbook, and competition products 
and combining cutting-edge solutions with a strong portfolio of partnerships to 
drive growth and innovation in the digital gaming market._

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