Golden Matrix Group, a leader in gaming platforms, systems, and content development, has solidified its global ambitions by securing an online betting license for Brazil, a market poised for explosive growth. With projections estimating Brazil’s sports betting and gaming sector will reach $5.6 billion annually by 2025, this development marks a significant leap forward for the company’s Meridianbet brand.
Golden Matrix Group’s entry into Brazil signals a strategic milestone in its expansion efforts. CEO Brian Goodman described the achievement as transformative, emphasising the potential to deliver lasting value in the region. Goodman expressed confidence in the company’s ability to leverage its proven technology and expertise to make a notable impact on Brazil’s newly regulated gaming market. With the license, Meridianbet can offer sports betting and casino gaming online or through physical locations, underscoring the brand’s versatility. However, Golden Matrix has yet to reveal specific rollout plans for the Brazilian market.
The significance of this move is heightened by the recent acquisition of Meridianbet. Completed in April 2024 for $300 million, the purchase grants Golden Matrix a strong foothold in the B2C gaming sector, bolstering its capabilities in established and emerging markets. Goodman has lauded the acquisition as a strategic entry into scalable and resilient markets, showcasing the company’s focus on sustainable growth and technological innovation.
Brazil’s sports betting industry, which officially launched on 1 January 2025, represents a dynamic and competitive landscape. With over 60 licensed operators, including global giants like Betfair, bet365, and LeoVegas, the market presents both challenges and opportunities. Regulatory requirements, such as facial recognition for players and mandatory taxpayer registration, ensure a structured and secure environment for operators like Meridianbet.
Golden Matrix’s expansion isn’t limited to Brazil. The company has announced a strategic partnership with sweepstakes casino Moozi, offering a suite of games through its Expanse Studios brand. Furthermore, it has applied for licensing from the Alcohol and Gaming Commission of Ontario, aiming to extend its influence in the Canadian market. These initiatives highlight Golden Matrix’s aggressive global strategy to position itself at the forefront of gaming innovation.
Golden Matrix Group, Inc. (Nasdaq:GMGI) positions itself as a leader in the iGaming technology space, offering casino, sportsbook, and competition products and combining cutting-edge solutions with a strong portfolio of partnerships to drive growth and innovation in the digital gaming market.
