GMGI
Golden Matrix Group Provides Update on Entering U.S. Market and Expansion into Additional European Markets
Golden Matrix Group 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 $20 billion with a potential player base of 106 million by 2025 (Next.io, 2024). Based on current timelines, the licensing process in Brazil is expected to be completed by the end of December 2024, positioning Meridianbet as one of the companies likely to operate in the rapidly expanding market going forward.
Brian Goodman
Golden Matrix Begins Trading on Nasdaq Capital Market
Golden Matrix Group, a developer and licensor of online gaming platforms, systems and gaming content, has commenced trading its common stock on the Nasdaq Capital Market in the US. The Company’s shares are now trading on the Nasdaq Capital Market via the ticker symbol “GMGI”.
“Uplisting our common stock to Nasdaq is extremely important to Golden Matrix, at a time when we are expanding rapidly and entering into new global markets. We expect the uplisting to significantly improve the Company’s visibility, broaden our base of both retail and institutional stakeholders, and lead to enhanced long-term shareholder value. Additionally, we believe this uplisting will further strengthen our ability to execute on the Company’s acquisition strategy with the goal of accelerating both revenue and profit growth going forward,” CEO Brian Goodman said.
The Loev Law Firm, PC, Bellaire, Texas, provided legal services to Golden Matrix in connection with the uplisting.
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