A report from Golden Matrix Group has revealed that insider ownership holds 85.17 percent of the company’s shares. A NASDAQ company, the rest of Golden Matrix’s shares are held by 58 institutions, with 16.62 percent in float held by institutions and 2.46 percent in shares held by institutions.
According to the report, these 58 institutions have increased positions in the company by an average of 4.5 percent each. The report cited its high insider ownership as an indication of “strong leadership commitment” and used information technology company Oracle as an example. Oracle’s founder and executive, Lawrence Ellison, holds an estimated 40 percent of the company’s shares.
The press release cited Aleksander Milovanovic as Golden Matrix Group’s key stakeholder. Milovanovic is the Founder of Meridianbet, a company that Golden Matrix Group agreed to acquire in January 2023, a deal finalized this April. Meridianbet recently received notice from Brazil’s Ministry of Finance and the Secretariat of Prizes and Betting that it can continue with the licensing process to operate in the country.
This market entry is part of Golden Matrix Group’s plan to capitalize on markets valued at more than $22 billion, according to the report, which concludes, “the company’s diversified portfolio, stringent regulatory compliance, and operational integrity provide a robust foundation for long-term stability and growth.”
