Golden Matrix Group Subsidiary Meridianbet Shortlisted as an Eligible Operator in Brazil, Advancing Its Market Penetration in One of the World’s Largest Gaming Markets
Golden Matrix Group Inc. (NASDAQ: GMGI) announces its subsidiary, Meridian Gaming Brasil SPE LTDA, has advanced in Brazil's licensing process for sports betting and iGaming. As one of 89 companies selected at the Federal level, Meridian Gaming Brasil can continue operating nationwide until December 31, 2024. This positions GMGI to tap into Brazil's gaming market, projected to reach $2.2 billion in 2024 and generate $34 billion in sports betting turnover by 2028.
Meridianbet's proprietary platform, marketing plans, and responsible gambling policies have contributed to its shortlisting. The company's application includes both sports betting and iGaming, offering a full suite of gaming experiences to Brazilian players. CEO Brian Goodman states this advancement reaffirms Meridian Gaming Brasil's technological and operational leadership in the Brazilian market.
Golden Matrix Group Inc. (NASDAQ: GMGI) annuncia che la sua controllata, Meridian Gaming Brasil SPE LTDA, ha fatto progressi nel processo di licenza per le scommesse sportive e l'iGaming in Brasile. Come una delle 89 aziende selezionate a livello federale, Meridian Gaming Brasil potrà continuare a operare a livello nazionale fino al 31 dicembre 2024. Ciò posiziona GMGI per accedere al mercato del gioco brasiliano, previsto in crescita fino a $2,2 miliardi nel 2024 e con un fatturato delle scommesse sportive che dovrebbe raggiungere $34 miliardi entro il 2028.
La piattaforma proprietaria di Meridianbet, i piani di marketing e le politiche di gioco responsabile hanno contribuito al suo inserimento nella shortlist. La domanda della società include sia le scommesse sportive che l'iGaming, offrendo un'ampia gamma di esperienze di gioco ai giocatori brasiliani. Il CEO Brian Goodman afferma che questo progresso riafferma la leadership tecnologica e operativa di Meridian Gaming Brasil nel mercato brasiliano.
Golden Matrix Group Inc. (NASDAQ: GMGI) anuncia que su subsidiaria, Meridian Gaming Brasil SPE LTDA, ha avanzado en el proceso de licencia para apuestas deportivas e iGaming en Brasil. Como una de las 89 empresas seleccionadas a nivel federal, Meridian Gaming Brasil podrá continuar operando a nivel nacional hasta el 31 de diciembre de 2024. Esto posiciona a GMGI para acceder al mercado de juegos en Brasil, que se proyecta que alcanzará $2.2 mil millones en 2024 y generará $34 mil millones en volumen de apuestas deportivas para 2028.
La plataforma propietaria de Meridianbet, sus planes de marketing y sus políticas de juego responsable han contribuido a que esté en la lista corta. La solicitud de la empresa incluye tanto las apuestas deportivas como el iGaming, ofreciendo una gama completa de experiencias de juego a los jugadores brasileños. El CEO Brian Goodman afirma que este avance reafirma el liderazgo tecnológico y operativo de Meridian Gaming Brasil en el mercado brasileño.
골든 매트릭스 그룹 주식회사 (NASDAQ: GMGI)는 자회사인 메리디안 게임 브라질 SPE LTDA가 브라질 스포츠 베팅 및 iGaming 라이센스 프로세스에서 진전을 이루었다고 발표했습니다. 연방 차원에서 선정된 89개 회사 중 하나인 메리디안 게임 브라질은 2024년 12월 31일까지 국가적으로 계속 운영할 수 있습니다. 이는 GMGI가 브라질 게임 시장에 접근할 수 있는 위치를 마련하며, 이 시장은 2024년까지 22억 달러에 이를 것으로 예상되며, 2028년까지 스포츠 베팅 매출이 340억 달러에 이를 것으로 예상됩니다.
메리디안벳의 고유 플랫폼, 마케팅 계획 및 책임 있는 도박 정책이 선정에 기여했습니다. 회사의 신청서는 스포츠 베팅과 iGaming 모두를 포함해 브라질 플레이어에게 다양한 게임 경험을 제공합니다. CEO 브라이언 굿맨은 이 발전이 브라질 시장에서 메리디안 게임 브라질의 기술적 및 운영적 리더십을 재확인한다고 말합니다.
Golden Matrix Group Inc. (NASDAQ: GMGI) annonce que sa filiale, Meridian Gaming Brasil SPE LTDA, a progressé dans le processus de licence pour les paris sportifs et l'iGaming au Brésil. En tant qu'une des 89 entreprises sélectionnées au niveau fédéral, Meridian Gaming Brasil peut continuer à opérer à l'échelle nationale jusqu'au 31 décembre 2024. Cela positionne GMGI pour accéder au marché du jeu brésilien, qui devrait atteindre 2,2 milliards de dollars en 2024 et générer 34 milliards de dollars de chiffre d'affaires en paris sportifs d'ici 2028.
La plateforme propriétaire de Meridianbet, ses plans marketing et ses politiques de jeu responsable ont contribué à sa sélection. La demande de l'entreprise comprend à la fois les paris sportifs et l'iGaming, offrant une gamme complète d'expériences de jeu aux joueurs brésiliens. Le CEO Brian Goodman déclare que cette avancée confirme le leadership technologique et opérationnel de Meridian Gaming Brasil sur le marché brésilien.
Golden Matrix Group Inc. (NASDAQ: GMGI) gibt bekannt, dass ihre Tochtergesellschaft, Meridian Gaming Brasil SPE LTDA, im Lizenzierungsprozess für Sportwetten und iGaming in Brasilien Fortschritte erzielt hat. Als eines von 89 Unternehmen auf Bundesebene kann Meridian Gaming Brasil landesweit bis zum 31. Dezember 2024 weiterhin tätig sein. Dies positioniert GMGI, um in den brasilianischen Glücksspielmarkt einzutreten, der voraussichtlich bis 2024 2,2 Milliarden Dollar erreichen und bis 2028 einen Umsatz von 34 Milliarden Dollar bei Sportwetten generieren wird.
Die proprietäre Plattform von Meridianbet, die Marketingpläne und die Richtlinien für verantwortungsvolles Glücksspiel haben zur Nominierung beigetragen. Der Antrag des Unternehmens umfasst sowohl Sportwetten als auch iGaming und bietet brasilianischen Spielern ein umfassendes Spielangebot. CEO Brian Goodman erklärt, dass dieser Fortschritt die technologische und operationale Führungsposition von Meridian Gaming Brasil im brasilianischen Markt bestätigt.
- Subsidiary Meridian Gaming Brasil shortlisted for sports betting and iGaming license in Brazil
- Positioned to operate in a market projected to reach $2.2 billion in 2024
- Brazilian gambling industry forecasted to generate $34 billion in sports betting turnover by 2028
- Application includes both sports betting and iGaming, offering a full suite of gaming experiences
- None.
Insights
The shortlisting of Meridian Gaming Brasil, a subsidiary of Golden Matrix Group, in Brazil's licensing process is a significant development. This positions GMGI to tap into a market projected to reach
Meridianbet's inclusion among only 89 shortlisted companies out of a larger pool demonstrates its strong competitive position. The company's proprietary platform and comprehensive offering, including both sports betting and iGaming, could provide a competitive edge in capturing market share.
However, investors should note that while this development is positive, the licensing process is not yet complete. The adaptation period until December 31, 2024, suggests that full market impact may not be immediate. The company's ability to execute its marketing strategies and maintain compliance will be critical factors in translating this opportunity into revenue growth.
For GMGI, with a current market cap of
Investors should consider the following financial implications:
- Market Size vs. Company Size: The projected market size dwarfs GMGI's current market cap, indicating substantial room for growth.
- Competition: Being one of 89 shortlisted companies suggests a competitive landscape, which could impact profit margins.
- Capital Requirements: Expansion into this market may require significant investment in marketing and operations.
While the news is positive, the financial impact remains speculative until the company can demonstrate its ability to capture market share and translate it into revenue and profit growth. Investors should monitor future financial reports for evidence of success in the Brazilian market.
LAS VEGAS, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group Inc. (NASDAQ: GMGI) is delighted to announce that its subsidiary, Meridian Gaming Brasil SPE LTDA (CNPJ: 56.195.600/0001-07), has successfully passed another crucial round of Brazil’s exclusive licensing process for sports betting and iGaming.
As one of only 89 companies selected at the Federal level, Meridian Gaming Brasil remains well-positioned to continue operating nationwide during the adaptation period, which extends until December 31, 2024.
This shortlist, released by the Brazilian Ministry of Finance, narrows the pool of companies eligible to operate in a market projected to reach around
This licensing process will grant GMGI’s subsidiary Meridianbet nationwide access to the Brazilian market, allowing the company to tap into the country’s rapidly expanding market and reach a diverse and eager audience.
Meridian Gaming Brasil’s proprietary platform, thoroughly tested for compliance, along with its robust marketing plans and responsible gambling standards and policies, have helped secure its place among the newly shortlisted operators.
Brian Goodman, CEO of Golden Matrix, commented, "Passing this additional round reaffirms Meridian Gaming Brasil’s technological and operational leadership in the rapidly evolving Brazilian market. With our state-of-the-art platform, comprehensive marketing strategies and unwavering focus on responsible gambling, we are well-equipped to capture significant market share in what is forecasted to become one of the world’s largest gaming markets.”
Meridianbet’s application includes both sports betting and iGaming under Brazil’s comprehensive licensing regime, positioning it as one of the few operators capable of offering a full suite of gaming experiences to Brazilian players.
For more information about the Brazilian licensing process or to view the official list of shortlisted companies, visit the Brazilian Ministry of Finance website at the following link.
About Golden Matrix Group
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.
Connect with us:
X - https://twitter.com/gmgi_official
Instagram - https://www.instagram.com/goldenmatrixgroup/
About Meridianbet
Founded in 2001, Meridianbet Group is a well-established online sports betting and gaming group, licensed and currently operating in 18 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.
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X: https://x.com/meridianbet_ofc
Email: 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.
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https://twitter.com/gmgi_official
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ICR
Brett Milotte
Greg Michaels
Gregory.Michaels@icrinc.com
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FAQ
What is the significance of Meridianbet being shortlisted in Brazil for Golden Matrix Group (GMGI)?
What is the projected size of the Brazilian gaming market that GMGI is targeting?
What services will Meridianbet (GMGI) offer in the Brazilian market?
How many companies were shortlisted alongside GMGI's subsidiary for the Brazilian gaming license?
