Golden Matrix Group Provides Update on Entering U.S. Market and Expansion Into Additional European Markets
Golden Matrix Group (NASDAQ: GMGI) is expanding its market presence, focusing on entering the U.S. iGaming market and additional European markets. Key developments include:
1. Applying for a New Jersey Casino Service Industry Enterprise license
2. Initiating discussions with licensed gaming operators in New Jersey
3. Planning to provide Expanse Studios iGaming content to regulated operators in New Jersey
4. Securing an iGaming license for the Bulgarian market
5. Pursuing licenses in Croatia and Romania
6. Implementing the Meridianbet brand in Brazil, Peru, and South Africa
GMGI's subsidiary Meridianbet is among select operators with a pending federal license in Brazil, a market projected to reach $20 billion by 2025. The Brazilian licensing process is expected to conclude by December 2024.
Golden Matrix Group (NASDAQ: GMGI) sta espandendo la propria presenza nel mercato, concentrandosi sull'ingresso nel mercato iGaming degli Stati Uniti e in ulteriori mercati europei. Tra i principali sviluppi ci sono:
1. Richiesta di una licenza per l'industria dei servizi di casinò del New Jersey
2. Inizio delle discussioni con operatori di gioco autorizzati nel New Jersey
3. Pianificazione per fornire contenuti iGaming di Expanse Studios a operatori regolamentati nel New Jersey
4. Ottenimento di una licenza iGaming per il mercato bulgaro
5. Ricerca di licenze in Croazia e Romania
6. Implementazione del brand Meridianbet in Brasile, Perù e Sudafrica
La controllata di GMGI, Meridianbet, è tra i pochi operatori con una licenza federale in sospeso in Brasile, un mercato previsto per raggiungere i 20 miliardi di dollari entro il 2025. Si prevede che il processo di licenza brasiliano si concluderà entro dicembre 2024.
Golden Matrix Group (NASDAQ: GMGI) está expandiendo su presencia en el mercado, enfocándose en ingresar al mercado iGaming de EE. UU. y a otros mercados europeos. Los desarrollos clave incluyen:
1. Solicitud de una licencia de la industria de servicios de casino en Nueva Jersey
2. Inicio de discusiones con operadores de juego licenciados en Nueva Jersey
3. Planificación para proporcionar contenido iGaming de Expanse Studios a operadores regulados en Nueva Jersey
4. Obtención de una licencia iGaming para el mercado búlgaro
5. Búsqueda de licencias en Croacia y Rumanía
6. Implementación de la marca Meridianbet en Brasil, Perú y Sudáfrica
La filial de GMGI, Meridianbet, se encuentra entre los operadores seleccionados con una licencia federal pendiente en Brasil, un mercado que se proyecta alcanzará los 20 mil millones de dólares para 2025. Se espera que el proceso de licencias brasileñas concluya para diciembre de 2024.
골든 매트릭스 그룹 (NASDAQ: GMGI)은 미국 iGaming 시장 및 기타 유럽 시장으로의 진입에 집중하며 시장 존재감을 확대하고 있습니다. 주요 개발 사항은 다음과 같습니다:
1. 뉴저지 카지노 서비스 산업 기업 라이센스 신청
2. 뉴저지의 면허를 가진 게임 운영자와의 논의 시작
3. 뉴저지의 규제된 운영자에게 Expanse Studios iGaming 콘텐츠 제공 계획
4. 불가리아 시장을 위한 iGaming 라이센스 확보
5. 크로아티아와 루마니아에서의 라이센스 추구
6. 브라질, 페루, 남아프리카에 Meridianbet 브랜드 도입
GMGI의 자회사인 Meridianbet은 브라질에서 연방 라이센스 대기 중인 몇 안 되는 운영자 중 하나로, 이 시장은 2025년까지 200억 달러에 이를 것으로 예상됩니다. 브라질의 라이센스 절차는 2024년 12월까지 완료될 것으로 보입니다.
Golden Matrix Group (NASDAQ: GMGI) élargit sa présence sur le marché, en se concentrant sur son entrée sur le marché américain de l'iGaming et d'autres marchés européens. Les développements clés incluent :
1. Demande d'une licence d'entreprise pour l'industrie des services de casino dans le New Jersey
2. Début des discussions avec des opérateurs de jeux licenciés dans le New Jersey
3. Planification de la fourniture de contenus iGaming d'Expanse Studios à des opérateurs régulés dans le New Jersey
4. Obtention d'une licence iGaming pour le marché bulgare
5. Poursuite de licences en Croatie et en Roumanie
6. Mise en œuvre de la marque Meridianbet au Brésil, au Pérou et en Afrique du Sud
La filiale de GMGI, Meridianbet, fait partie des rares opérateurs ayant une licence fédérale en attente au Brésil, un marché qui devrait atteindre 20 milliards de dollars d'ici 2025. Le processus de licence brésilien devrait se terminer d'ici décembre 2024.
Golden Matrix Group (NASDAQ: GMGI) erweitert seine Marktpräsenz und konzentriert sich auf den Eintritt in den US-iGaming-Markt sowie in weitere europäische Märkte. Zu den wichtigsten Entwicklungen gehören:
1. Antrag auf eine Lizenz für die Casino-Service-Industrie in New Jersey
2. Aufnahme von Gesprächen mit lizenzierten Glücksspielanbietern in New Jersey
3. Planung, iGaming-Inhalte von Expanse Studios an regulierte Anbieter in New Jersey bereitzustellen
4. Sicherung einer iGaming-Lizenz für den bulgarischen Markt
5. Verfolgung von Lizenzen in Kroatien und Rumänien
6. Implementierung der Marke Meridianbet in Brasilien, Peru und Südafrika
Die Tochtergesellschaft von GMGI, Meridianbet, gehört zu den ausgewählten Anbietern mit einer anhängigen Bundeslizenz in Brasilien, einem Markt, der bis 2025 voraussichtlich 20 Milliarden Dollar erreichen wird. Der Lizenzierungsprozess in Brasilien soll bis Dezember 2024 abgeschlossen sein.
- Expansion into the U.S. iGaming market through New Jersey licensing process
- Secured iGaming license for Bulgarian market
- Pursuing additional licenses in Croatia and Romania
- Pending federal license in Brazil, a market projected to reach $20 billion by 2025
- Expansion plans for Peru and South Africa markets
- None.
Insights
Golden Matrix Group's strategic moves into new markets present significant growth potential. The company's expansion into the U.S. iGaming market, starting with New Jersey, could be a game-changer. The U.S. online gambling market is projected to reach
The company's focus on European expansion through Expanse Studios is equally promising. Bulgaria's online gambling market was valued at
However, investors should note that entering new markets involves regulatory challenges and intense competition. The success of these expansions will depend on GMGI's ability to navigate complex regulatory environments and differentiate its offerings in crowded markets.
GMGI's expansion strategy aligns well with global iGaming trends. The Brazilian market, in particular, presents a massive opportunity. With a projected market size of
The company's multi-pronged approach - entering the U.S. market, expanding in Europe and targeting high-growth markets like Brazil - demonstrates a well-thought-out global strategy. This diversification could help mitigate risks associated with individual market fluctuations.
However, it's important to monitor the competitive landscape. As these markets mature, they're likely to attract more players, potentially squeezing margins. GMGI's success will hinge on its ability to establish strong brand presence and maintain technological edge in content development and platform capabilities.
GMGI's expansion strategy hinges heavily on obtaining necessary licenses across multiple jurisdictions. The New Jersey Casino Service Industry Enterprise license is a important first step for U.S. market entry. New Jersey's robust regulatory framework sets a high bar and securing this license could pave the way for easier entry into other U.S. states.
The company's pursuit of licenses in Bulgaria, Croatia and Romania demonstrates its commitment to regulatory compliance in the European market. Each of these jurisdictions has unique legal requirements and navigating them successfully will be key to GMGI's expansion.
The pending federal license in Brazil is particularly noteworthy. Brazil's gambling market is on the cusp of significant regulatory changes and being among the first licensed operators could provide GMGI with a substantial competitive advantage. However, investors should be aware that regulatory processes can be lengthy and unpredictable, potentially affecting the company's expansion timeline and costs.
LAS VEGAS, NV, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group (NASDAQ: GMGI) (“GMGI” or the “Company”), a leading international developer and licensor of online gaming platforms, systems and gaming content, today announced that the Company is progressing in its efforts to expand its market presence, particularly with its anticipated entry into the U.S. iGaming market. 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 intends to build on its U.S. presence by applying for additional licenses and servicing operator agreements in states where iGaming has been regulated.
Additionally, GMGI’s wholly owned Expanse Studios division has secured an iGaming license for the Bulgarian market and is actively pursuing licenses in Croatia and Romania, key markets that will further expand Expanse Studios' European footprint.
Critical to its long-term growth strategy, GMGI, through its recently acquired subsidiary Meridianbet, is also focused on implementing its brand in other key markets, including Brazil, Peru and South Africa.
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
About Golden Matrix Group
Golden Matrix Group, based in Las Vegas, NV, is a leading B2B and B2C gaming technology company utilizing proprietary technology and operating globally across multiple international markets. The B2B division of Golden Matrix develops and licenses branded gaming platforms for its extensive list of clients, and RKings, its B2C division, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets.
About Meridianbet
Founded in 2001 and acquired by Golden Matrix in April 2024, Meridianbet Group is a well-established online sports betting and gaming group, licensed and/or currently operating in 17 jurisdictions across Europe, Africa, and South America. Meridianbet’s successful business model utilizes proprietary technology and scalable systems, thus allowing it to operate in multiple countries and currencies and with an omni-channel approach to markets, including retail, desktop online, and mobile.
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.
Connect With Us
ir@goldenmatrix.com
https://twitter.com/gmgi_official
https://www.instagram.com/goldenmatrixgroup/
ir@meridianbet.com
ICR:
Brett Milotte
Brett.Milotte@icrinc.com
Greg Michaels
Gregory.Michaels@icrinc.com
FAQ
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