MeridianBet reaches the final phase of its Brazilian license application

The Golden Matrix subsidiary has received a formal notice of progression from the SPA.

Sports betting and gaming group MeridianBet has received formal notice from Brazil’s Ministry of Finance that it may move on with its licensing application progress, which is now in its final phase.  

Following this latest approval, the Golden Matrix-owned organization has gained confirmation of its compliance with Brazil’s legal and regulatory requirements. Now, the company must provide proof of certification and pay the required R$30m ($4.9m) licensing fee, prior to the opening of the nation’s online gaming and sports betting markets on January 1, 2025.  

After being officially acquired by Golden Matrix as part of a $300m deal in April, subsequently striking a debt conversion deal with the company’s founder, MeridianBet has gone on to become a key driver for the operator’s North and South American operations. 

In September, Golden Matrix Group acknowledged a projected 72% boost in MeridianBet’s August revenue across the Americas.  

Good to know: Following severe flooding in the Rio Grande do Sul region of Brazil, MeridianBet announced its involvement with relief efforts 

Golden Matrix CEO, Brian Goodman, spoke on the latest news, saying, “We are thrilled to be moving forward with an operating license in Brazil and are committed to swiftly meeting the final requirements set forth by the government. The Brazilian market represents an extraordinary growth opportunity and a key milestone in our global expansion strategy.” 

“We are confident that entering the Brazilian market will lead to 2025 being a transformational year for the company as we establish a strong presence in one of three most dynamic global growth markets. This milestone reinforces our strategy of entering regions with high growth potential while continuing to deliver gaming experiences that set new quality standards for the industry.” 

In November, the Instituto Brasileiro de Jogo Responsável (IBJR) released a new gaming manifesto. This news was quickly followed by the release of an additional ordinance later in the month pertaining to the transfer of players’ data and funds to newly regulated operators in the soon-to-be-opened market.  

Will Underwood

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