The company says the launch of the Expanse Studios brand will be a “decisive step”
Golden Matrix Group, a leading B2B and B2C gaming technology company, has taken a significant step towards expanding its global reach by submitting an application for a B2B gaming license in the Ontario iGaming market. This move will enable its subsidiary, Expanse Studios, to enter this highly competitive and lucrative market.
Expanse Studios Seeks Ontario Foothold
Expanse Studios, known for its diverse portfolio of high-quality gaming content, including slots, table games, crash games, and social casino games, has already established a strong presence in over 50 regulated markets worldwide. The company views the Ontario iGaming market as a key strategic opportunity to showcase its premium gaming content to a wider audience in North America.
“Completing the filing process is a critical milestone in our journey to bring Expanse Studios to Ontario,” stated Damjan Stamenkovic, CEO of Expanse Studios. “This achievement underscores our commitment to operating in the biggest and most regulated markets and delivering world-class gaming content to players across the globe.”
A Long-Term Strategic Goal
The move to enter the Ontario market aligns with Golden Matrix’s long-term strategic objectives. The company has been actively pursuing expansion opportunities in North America, with Canada identified as a key market.
While the Ontario licensing process can take up to 12 months, Golden Matrix remains optimistic about its prospects for success. Despite the competitive landscape, the company recognizes the significant revenue potential that the Ontario market presents.
Navigating the Regulatory Landscape
Golden Matrix has enlisted the expertise of Segev LLP, a leading Canadian legal and regulatory firm, to guide its application process.
“Expanse Studios continues to set itself apart with its innovative approach to gaming and its dedication to regulatory excellence,” said Alon Segev, Managing Partner at Segev LLP. “We are proud to support them in this important step and look forward to seeing their positive impact in the Ontario market.”
Strong Financial Performance and Global Expansion
This strategic move comes on the heels of a strong financial performance for Golden Matrix. The company recently reported record-breaking Q3 2024 results, with consolidated quarterly revenue reaching $41 million, representing an 85% year-over-year increase.
Beyond Ontario, Golden Matrix is actively pursuing further global expansion. The company is expecting to receive approval to operate as a B2B provider in the burgeoning Brazilian iGaming market. Additionally, its Meridianbet brand, acquired earlier this year, has secured a sports betting license in South Africa and is shortlisted for a sports betting and iGaming license in Brazil.
Key Takeaways:
- Golden Matrix is seeking a B2B gaming license in the Ontario iGaming market to expand the reach of its Expanse Studios subsidiary.
- This move aligns with Golden Matrix’s long-term strategy of expanding its global footprint in key regulated markets.
- The company is confident in its ability to succeed in the competitive Ontario market and contribute to the thriving iGaming ecosystem.
- Golden Matrix is pursuing significant growth opportunities in other key markets, including Brazil and South Africa.
This strategic move by Golden Matrix highlights the company’s commitment to innovation, expansion, and delivering high-quality gaming experiences to players worldwide.
