Golden Matrix Group pursues U.S. market entry, expands European and South American footprint

iGaming platforms developer and operator Golden Matrix Group (GMGI) has announced significant progress in its expansion strategy, focusing on its anticipated entry into the U.S. iGaming market and further expansion across Europe and South America.

The company, through its subsidiary Expanse Studios, is in the process of applying for a New Jersey Casino Service Industry Enterprise license. Once licensing and approvals are finalized, GMGI plans to provide Expanse Studios' proprietary iGaming content to fully regulated online casinos and sportsbooks in New Jersey, marking its entry into the U.S. market.

Discussions with several licensed gaming operators in New Jersey are already underway, Golden Matrix said, and the company intends to expand further across the U.S. by securing additional licenses in other regulated states.

On the European front, Expanse Studios has secured an iGaming license in Bulgaria and is actively pursuing licenses in Croatia and Romania, aiming to strengthen its presence in these markets.

In addition to its U.S. and European expansion, GMGI is also focused on entering new markets in South America and Africa through its recently acquired subsidiary Meridianbet, including Brazil, Peru and South Africa.

The company is pursuing a federal license in Brazil, where the iGaming market is projected to reach $20 billion by 2025, with a potential player base of 106 million. The licensing process in Brazil is expected to be completed by the end of December 2024, positioning Meridianbet to capitalize on the growing market.