EQS-News: Golden Matrix Group Appoints Atul Bali, Gaming Industry Expert, as Non-Executive Director

Former Lead Independent Director of Everi Holdings Brings Deep Public Company and Global Gaming Expertise to the Board

LAS VEGAS, NV - December 19, 2025 (NEWMEDIAWIRE) - Golden Matrix Group Inc. (NASDAQ: GMGI) ("Golden Matrix," "GMGI," or the "Company"), a global gaming technology company, today announced the appointment of Mr. Atul Bali as Non-Executive Director to its Board of Directors, effective December 18, 2025.

Mr. Bali has also been appointed to serve as a member of the Company's Audit Committee, a member of the Nominating and Corporate Governance Committee, and as Chairman of the Compensation Committee.

Mr. Bali brings over three decades of executive and board-level experience across highly regulated gaming, lottery, fintech, and digital entertainment sectors spanning more than 50 countries. He most recently served as Lead Independent Director of Everi Holdings Inc. from 2019 until the company's acquisition by Apollo Global Management in July 2025 in a transaction valued at $6.3 billion.

His career also encompasses chairman and CEO roles across the gaming ecosystem, including President & CEO of GTECH G2 Ltd. (now part of IGT), President & CEO of Aristocrat Technologies Inc, Chairman of The Football Pools Ltd. (UK's football betting company), and President & CEO of RealNetworks Inc. Mr. Bali has guided companies through IPOs, private equity transactions, operational turnarounds, and regulatory licensing processes across Europe, North America, Latin America, Asia, and Africa.

"Atul's appointment represents a significant milestone for Golden Matrix," said William Scott, interim Chief Executive Officer of Golden Matrix Group. "His track record guiding public companies through complex growth phases, M&A transactions, and regulatory environments across multiple jurisdictions is directly aligned with our strategic priorities. His governance expertise and global perspective will be invaluable."

Mr. Bali is a Fellow Chartered Accountant (FCA) with the Institute of Chartered Accountants in England and Wales (ICAEW) and holds a BA (Dual Honours) in Law & Economics from Keele University.

Separately, the Company announced that Mr. Thomas McChesney resigned as Independent Director, effective December 12, 2025. 

About Golden Matrix

Golden Matrix Group, based in Las Vegas, NV, is an established B2B and B2C gaming technology company operating across multiple international markets. The B2B division develops and licenses proprietary gaming platforms to an extensive list of clients, while its B2C division operates RKings Competitions, a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The Company also owns and operates MEXPLAY, a regulated online casino in Mexico.

Meridianbet Group, founded in 2001 and acquired by Golden Matrix in 2024, is a leading online sports betting and gaming operator, licensed in multiple jurisdictions across Europe, Africa, and South America.

The companies' sophisticated software automatically declines any gaming or redemption requests from within the United States, in strict compliance with current US law. 

FORWARD-LOOKING STATEMENTS

Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). Words such as "strategy," "expects," "continues," "plans," "anticipates," "believes," "would," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements.

Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, the amount, timing, and sources of funding for the Company's repurchase program, the fact that common share repurchases may not be conducted in the timeframe or in the manner the Company expects, or at all, the ability of the Company to obtain the funding required to pay certain Meridianbet Group acquisition post-closing obligations, the terms of such funding, potential dilution caused thereby and/or covenants agreed to in connection therewith; potential lawsuits regarding the acquisition; the business, economic and political conditions in the markets in which the Company operates; the effect on the Company and its operations of the ongoing Ukraine/Russia conflict and the conflict in Israel, changing interest rates and inflation, and risks of recessions; the need for additional financing, the terms of such financing and the availability of such financing; the ability of the Company and/or its subsidiaries to obtain additional gaming licenses; the ability of the Company to manage growth; the Company's ability to complete acquisitions and the availability of funding for such acquisitions; disruptions caused by acquisitions; dilution caused by fund raising, the conversion of outstanding preferred stock, convertible securities and/or acquisitions; the Company's ability to maintain the listing of its common stock on the Nasdaq Capital Market; the Company's expectations for future growth, revenues, and profitability; the Company's expectations regarding future plans and timing thereof; the Company's reliance on its management; the fact that the sellers of the Meridianbet Group hold voting control over the Company; related party relationships; the potential effect of economic downturns, recessions, increases in interest rates and inflation, and market conditions, decreases in discretionary spending and therefore demand for our products and services, and increases in the cost of capital, related thereto, among other affects thereof, on the Company's operations and prospects; the Company's ability to protect proprietary information; the ability of the Company to compete in its market; the effect of current and future regulation, the Company's ability to comply with regulations and potential penalties in the event it fails to comply with such regulations and changes in the enforcement and interpretation of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our business; the risks associated with gaming fraud, user cheating and cyber-attacks; risks associated with systems failures and failures of technology and infrastructure on which the Company's programs rely; foreign exchange and currency risks; the outcome of contingencies, including legal proceedings in the normal course of business; the ability to compete against existing and new competitors; the ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company's products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this press release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved.

Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company's publicly-filed reports, including, but not limited to, under the "Special Note Regarding Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, including, but not limited to, the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2025, and future periodic reports on Form 10-K and Form 10-Q. These reports are available at www.sec.gov.

The Company cautions that the foregoing list of important factors is not complete and does not undertake to update any forward-looking statements except as required by applicable law. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on behalf of the Company are expressly qualified in their entirety by the cautionary statements referenced above. Other unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and takes no obligation to update or correct information prepared by third parties that is not paid for by the Company. If we update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements.

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