Expanse Studios, the B2B game development division of Golden Matrix Group Inc. (NASDAQ: GMGI), has received official certification from Croatia’s Ministry of Finance for its flagship game Super Heli, with additional titles in the company’s 56-game portfolio expected to receive approval in the coming weeks for the EU member state.

The certification marks a strategic entry into a market that generated US$484.70m in 2024, with projected growth at a CAGR of 8.4% during 2024-2030. Super Heli, Expanse’s most popular crash-style game, becomes the first of the studio’s titles approved for the Croatian market, paving the way for broader portfolio distribution.

Tapping Into High-Growth European Market

Croatia represents a compelling opportunity for B2B gaming suppliers, with the Online Casinos segment alone projected at US$218.10m in 2024. According to iGamingToday’s latest market research, Croatia’s gambling market will reach €720.42 million by 2025, making it one of Europe’s fastest-growing regulated markets.

Among the key market benefits are:

• Accelerating digital adoption – Internet penetration jumped from 76% in 2020 to 83% in 2023
• Over 20.6 million tourist arrivals in 2023 following Schengen Zone entry
• Over 500,000 Croatians expected to engage in regular online gambling by 2027

Strategic Value for the Company

The certification strengthens Expanse Studios’ European footprint at a critical juncture. With 56 proprietary titles and 500+ B2B partners globally, Expanse is expected to capture a meaningful share in the growing EU market.

“Croatia certification is more than market access—it’s validation of our content quality and compliance capabilities in demanding EU jurisdictions,” said Damjan Stamenkovic, CEO of Expanse Studios. “With our flagship title Super Heli already approved and more games in the pipeline, we’re very excited for the opportunities this markets brings us”

Competitive Advantage in Regulated Markets

Croatia’s regulatory framework favors established, compliant B2B providers. Operators must obtain licenses requiring significant capital investment, and only licensed casino games operators who have at least one brick-and-mortar casino can offer online gambling. This creates high barriers to entry and positions certified B2B suppliers like Expanse as essential partners for operators.

New Zealand Internal Affairs Minister Brooke van Velden has introduced the Online Casino Gambling Bill to the House of Representatives.

“The Online Casino Gambling Bill will introduce a regulatory system for online gambling in New Zealand, which will prioritise harm minimisation, consumer protection, and tax collection,” said Ms van Velden.

Cabinet has previously agreed to introduce new legislation to regulate the online casino gambling market, which is currently unregulated in New Zealand. Key features of the Bill include:

• Up to 15 licences for online casino gambling operators will be auctioned.

• Companies applying for a licence will need to provide detailed information to the regulator, including on their business plans for New Zealand.

• Licensed operators will be allowed to advertise, with restrictions.

• Unlicensed operators will be prohibited and fines up to $5 million may be applicable for breaking the law.

“The Bill will proceed to select committee later this year and New Zealanders will have the ability to have their say through the select committee process.”

The introduction of the Bill meets action 21 on the Coalition Government’s Quarter Two Action Plan.

On June 26, the court at Frederiksberg ruled in favour of the Danish Gambling Authority to have 178 websites blocked that offered illegal gambling to Danes. That is the highest number of blocks made since 2012.

The Danish Gambling Authority monitors websites that offer gambling to Danes without a licence. The blocking of the sites is done through the court, which assesses whether they should be blocked, and now the court in Frederiksberg has ruled in favour of the Danish Gambling Authority and have ordered the Danish internet service providers to block 178 gambling sites.

In total, the Danish Gambling Authority has had 616 illegal gambling sites blocked since 2012.

Record number of blocks

178 blocked websites are the highest number so far for a single blocking case since 2012. Previously, the Danish Gambling Authority conducted only one case a year in court to have the sites closed, but since 2024 the cases have been brought before the court twice annually.

“It is of course frustrating that illegal gambling sites continue to appear targeting Danes,” said Anders Dorph, Director of the Danish Gambling Authority.

“But I am very pleased that we have tools to find the sites and that we manage to get them blocked. In 2023, we took the initiative to have the sites blocked twice a year instead of once. This means that we can more quickly shut down access to sites that do not have a Danish licence and where consumers do not have the same protection as those gambling operators who have a licence from the Danish Gambling Authority.”