Golden Matrix Group Inc. Files for Ontario Gaming License
Golden Matrix Group (NASDAQ: GMGI) has announced that its subsidiary, Expanse Studios, has initiated the filing process for a B2B Gaming License in Ontario, Canada. This strategic move represents a significant step in the company's global expansion plans, targeting one of North America's key regulated iGaming markets.
Expanse Studios, a prominent player in the iGaming sector, boasts a portfolio of over 50 gaming titles, including social casino games, crash games, traditional slots, and table games.
Golden Matrix Group (NASDAQ: GMGI) ha annunciato che la sua filiale, Expanse Studios, ha avviato il processo di richiesta per una Licenza di Gioco B2B in Ontario, Canada. Questa mossa strategica rappresenta un passo significativo nei piani di espansione globale dell'azienda, mirando a uno dei principali mercati regolamentati di iGaming in Nord America.
Expanse Studios, un attore di spicco nel settore iGaming, vanta un portafoglio di oltre 50 titoli di gioco, inclusi giochi di casinò sociali, giochi crash, slot tradizionali e giochi da tavolo.
Golden Matrix Group (NASDAQ: GMGI) ha anunciado que su filial, Expanse Studios, ha iniciado el proceso de solicitud para una Licencia de Juego B2B en Ontario, Canadá. Este movimiento estratégico representa un paso significativo en los planes de expansión global de la empresa, enfocándose en uno de los principales mercados regulados de iGaming en América del Norte.
Expanse Studios, un jugador destacado en el sector de iGaming, cuenta con un portafolio de más de 50 títulos de juegos, incluyendo juegos de casino sociales, juegos de
골든 매트릭스 그룹 (NASDAQ: GMGI)는 자회사인 익스팬스 스튜디오가 캐나다 온타리오에서 B2B 게임 라이센스 신청 절차를 시작했다고 발표했습니다. 이 전략적 조치는 회사의 글로벌 확장 계획에서 중요한 단계를 나타내며, 북미의 주요 규제 iGaming 시장 중 하나를 목표로 하고 있습니다.
익스팬스 스튜디오는 iGaming 분야의 주요 업체로, 소셜 카지노 게임, 크래시 게임, 전통 슬롯 및 테이블 게임을 포함하여 50개 이상의 게임 타이틀 포트폴리오를 보유하고 있습니다.
Golden Matrix Group (NASDAQ: GMGI) a annoncé que sa filiale, Expanse Studios, a engagé le processus de demande pour une licence de jeu B2B en Ontario, Canada. Ce mouvement stratégique représente une étape importante dans les plans d'expansion mondiale de l'entreprise, ciblant l'un des principaux marchés réglementés de l'iGaming en Amérique du Nord.
Expanse Studios, un acteur majeur dans le secteur de l'iGaming, possède un portefeuille de plus de 50 titres de jeux, y compris des jeux de casino sociaux, des jeux de crash, des machines à sous traditionnelles et des jeux de table.
Golden Matrix Group (NASDAQ: GMGI) hat angekündigt, dass ihre Tochtergesellschaft, Expanse Studios, den Antrag auf eine B2B-Gaming-Lizenz in Ontario, Kanada, initiiert hat. Dieser strategische Schritt stellt einen bedeutenden Fortschritt in den globalen Expansionsplänen des Unternehmens dar und zielt auf einen der wichtigsten regulierten iGaming-Märkte in Nordamerika ab.
Expanse Studios, ein bedeutender Akteur im iGaming-Sektor, kann auf ein Portfolio von über 50 Spieltiteln verweisen, darunter soziale Casinospiele, Crash-Spiele, traditionelle Spielautomaten und Tischspiele.
- Expansion into Ontario's regulated iGaming market indicates strategic growth
- Diverse portfolio of 50+ gaming titles demonstrates strong product offering
- Entry into North American regulated market could open new revenue streams
- None.
Insights
The application for an Ontario gaming license represents a strategic expansion opportunity for GMGI, targeting Canada's largest regulated iGaming market. Ontario's iGaming sector has shown robust growth since its regulation in 2022, with
However, the licensing process in Ontario is rigorous and typically takes 6-12 months for approval. Success is not guaranteed and the company will face strong competition from established operators. While market entry could provide significant revenue opportunities, the immediate financial impact remains uncertain until license approval and successful market penetration.
LAS VEGAS, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group Inc. (NASDAQ: GMGI) (“Golden Matrix” or the “Company”), a global developer, licensor, and operator of online gaming platforms, today announced Expanse Studios, a rising leader in the iGaming sector and part of the Golden Matrix Group, is thrilled to announce the commencement of the filing process for its B2B Gaming License registration in Ontario, Canada. This pivotal step marks a significant advancement in the Company’s global expansion strategy as the company prepares to enter one of North America’s most dynamic and regulated iGaming markets.
With a diverse portfolio of over 50 cutting-edge iGaming titles, spanning social casino and crash games, traditional slots, and table games, Expanse Studios has quickly gained recognition as a creative powerhouse in the iGaming sector. The move into Ontario opens new possibilities for Expanse to showcase its premium gaming experiences in one of the most vibrant and forward-looking markets, paving the way for exciting opportunities that align with our strategic vision for growth and innovation.
By collaborating with Segev LLP, a top-tier Canadian legal and regulatory firm, Expanse Studios has ensured that every aspect of the filing process will meet Ontario's rigorous compliance standards. This milestone sets the stage for a seamless market entry upon approval.
“Completing the filing process is a critical milestone in our journey to bring Expanse Studios to Ontario,” said Damjan Stamenkovic, CEO of Expanse Studios. “This achievement underscores our commitment to operating in the biggest and most regulated markets and delivering world-class gaming content to players across the globe. We are optimistic about the opportunities Ontario presents and confident in our ability to contribute to this thriving iGaming ecosystem.”
Alon Segev, Managing Partner of Segev LLP, remarked, “Expanse Studios continues to set itself apart with its innovative approach to gaming and its dedication to regulatory excellence. We are proud to support them in this important step and look forward to seeing their positive impact in the Ontario market.”
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 of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients, while its B2C division, including Meridianbet, operates regulated online sports betting and gaming sites.
About Expanse Studios
Expanse Studios is a leading developer of online casino games, offering a diverse range of innovative titles, including slots, table games, crash games, social casino games and more. With a presence in over 50 regulated markets, Expanse Studios continues to expand its global reach by delivering premium gaming content to operators worldwide.
For more information, visit www.expanse.studio
Connect with us
ir@goldenmatrix.com
https://twitter.com/gmgi_official
https://www.instagram.com/goldenmatrixgroup/
ir@meridianbet.com
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 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; dilution caused by the terms of the Note and Warrant, the Company’s ability to pay amounts due under the Note and covenants associated therewith and penalties which could be due under the Note and securities purchase agreement for failure to comply with the terms thereof; 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 October 31, 2023 and its Quarterly Report on Form 10-Q for the quarter ended January 31, 2024, and future periodic reports on Form 10-K and Form 10 Q. These reports are available at www.sec.gov.
ICR
Brett Milotte
Brett.Milotte@icrinc.com
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FAQ
What gaming license is GMGI applying for in Ontario?
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