Golden Matrix discusses US and LatAm expansion plans in business update
The B2C and B2B organization recently made the Brazilian iGaming and sports wagering license application shortlist.
Golden Matrix Group (GMGI) has released an update on its global expansion plans. The company focused primarily its “efforts to expand its market presence, particularly with its anticipated entry into the US iGaming market.”
Golden Matrix discussed its intention to launch in New Jersey in a detailed statement.
GMGI said, “The company, through its subsidiary Expanse Studios, which specializes in the production and distribution of iGaming content, is currently in the process of applying for the New Jersey Casino Service Industry Enterprise license.
“GMGI has initiated discussions with several licensed gaming operators in New Jersey. Once the licensing process is finalized and the necessary approvals are obtained, the company plans to serve as a B2B provider of its proprietary Expanse Studios iGaming content to fully regulated and licensed online casino and sportsbook operators in the state of New Jersey.”
The company’s updated also addressed its potential launch within the Brazilian market. Its Meridianbet subsidiary recently made the shortlist in Brazil for an exclusive iGaming and sports betting license.
More than 100 applications for licensing came in during the country’s limited window, which ended August 20.
“As one of the select global operators with a pending federal license in Brazil, Meridianbet will be uniquely positioned to access Brazil’s substantial market, which is projected to grow to approximately $20bn with a potential player base of 106 million by 2025,” the company went on to say.
“Based on current timelines, the licensing process in Brazil is expected to be completed by the end of December 2024, positioning Meridianbet as one of the companies likely to operate in this rapidly expanding market going forward.”
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