Meridianbet Shortlisted for Exclusive License in Brazil
Meridianbet's Shortlisting for a Key License
Golden Matrix Group Inc. (NASDAQ: GMGI), a prominent developer of online gaming platforms and systems, proudly announces that its subsidiary, Meridianbet, has secured a spot on the shortlist for an exclusive sports betting and iGaming license in Brazil. This opportunity comes as Brazil's legal sports betting and iGaming market is anticipated to be one of the most significant developments in the industry.
Prioritized Application Process
The application process was highly competitive, closing with 113 operators vying for a prioritized license before the deadline. Meridianbet's application, positioned under request number 56.195.600/0001-07, has successfully placed it among a select group of global operators. The license processing for these priority applicants is expected to take place by January 1, 2025, aligning with the anticipated launch of Brazil’s gaming market.
Strategic Importance of the Brazilian Market
The inclusion of Meridianbet in this exclusive list highlights its potential as a key player within the burgeoning Brazilian gaming landscape. Brazil is expected to evolve into one of the largest gaming markets worldwide, presenting a substantial opportunity for both Meridianbet and Golden Matrix Group.
Corporate Insights
Brian Goodman, CEO of Golden Matrix Group, emphasized the transformative potential of the Brazilian market, stating, "The Brazilian market is set to be a game-changer for all of Golden Matrix Group, but also for the global gaming industry as a whole. This milestone signifies a critical moment in our ongoing global expansion, showcasing our commitment to excellence in delivering premier gaming experiences."
License Scope and Market Projection
Meridianbet's application encompasses both sports betting and iGaming (online casino), making it one of the few operators prepared to offer a comprehensive array of gaming experiences to players in Brazil. The Brazilian gambling sector is projected to generate an impressive $34 billion in sports betting turnover by 2028, facilitating a significant gross win for onshore operations.
Nationwide Access
This federal-level licensing process is notably different from the state-by-state approach utilized in the United States. It provides Meridianbet with a crucial nationwide reach, allowing access to a diverse and engaged audience across Brazil's expanding marketplace.
About Golden Matrix Group
Golden Matrix Group operates as an established B2B and B2C gaming technology company, catering to numerous international markets. The B2B division is responsible for developing and licensing proprietary gaming platforms, whereas the B2C division, including Meridianbet, oversees regulated online sports betting and gaming operations.
About Meridianbet
Founded in 2001, Meridianbet is a recognized online sports betting and gaming entity, holding licenses and currently functioning in 17 jurisdictions across Europe, Africa, and South America. Its successful approach harnesses proprietary technology and scalable systems to maintain an omni-channel presence across retail, desktop, and mobile platforms.
Frequently Asked Questions
What is the significance of Meridianbet being shortlisted?
Being shortlisted for an exclusive sports betting and iGaming license in Brazil marks a critical opportunity for Meridianbet and demonstrates its status in the global gaming industry.
When is the anticipated launch of Brazil’s gaming market?
The processing of prioritized license applications is set for completion by January 1, 2025, which aligns with the expected launch date for Brazil's legal sports betting and iGaming market.
What does the application include?
Meridianbet's application covers both sports betting and iGaming, positioning it to offer a comprehensive range of gaming options to Brazilian players.
Why is the Brazilian market important?
Brazil is projected to become one of the world’s largest gaming markets, with significant revenue forecasts for sports betting, highlighting a lucrative opportunity for growth and expansion.
How does Golden Matrix Group operate?
Golden Matrix Group operates a B2B division for gaming platform development and licensing, along with a B2C division that manages regulated online sports betting and gaming sites including Meridianbet.
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