Online gaming platform, systems, and content developer Golden Matrix Group announced it secured an online betting license in Brazil for its Meridianbet platform. According to the press release, the Brazilian sports betting and gaming industry is projected to generate $5.6 billion in 2025 annually, according to H2 Gambling Capital.
CEO of Golden Matrix Group Brian Goodman commented:
“Our entry into the Brazilian market is a defining moment for Golden Matrix and our stakeholders. Brazil represents an extraordinary market opportunity, and securing this license positions us to deliver substantial and lasting value to those in the region. With our proven technology and operational expertise, we are poised to make a meaningful impact on Brazil’s regulated gaming landscape in 2025 and beyond.”
The license lets Meridianbet provide sports betting and casino gaming through an online platform or physical locations. While Golden Matrix Group referenced those capabilities in its announcements, it didn’t include any details on plans to roll out its platform in Brazil.
Meridianbet at the Forefront of Golden Matrix’s Plans
Golden Matrix’s entry into Brazil with Meridianbet is more remarkable considering the company didn’t own the gaming brand until April 2024. Golden Matrix acquired Meridianbet for $300 million in Jan. 2023, but the deal wasn't confirmed and completed until April of the following year.
Goodman shared his thoughts on the acquisition at the time:
"We are thrilled to announce our entry into a purchase agreement with the shareholders of MeridianBet Group. We believe that this acquisition will provide us entry into a well-established and highly scalable B2C vertical in new markets outside of our core markets. MeridianBet Group appealed to us with its proven business model that emphasizes organic growth, resilience to external economic factors, and exceptional products and technology.”
Legal Sports Betting in Brazil
The Brazilian sports betting market is one of the world's newest, only launching on Jan. 1 of this year. Bets are available to anyone 18 years or older who can provide an Individual Taxpayer Registration. Additionally, Brazilian players must consent to the use of facial recognition.
Over 60 sports betting operators, including Meridianbet, gained approval in the Brazilian market. Other major names include Betfair, a brand from the company behind FanDuel, Flutter Entertainment. Sportsbook bet365, which operates legally in several US states, will also be available in Brazil, along with MGM Resort’s LeoVegas brand.
Brazil Entry Continues Golden Matrix’s Aggressive Expansion
While Golden Matrix’s entry into Brazil is a significant milestone, it's not the only market expansion the company confirmed in the last month. Golden Matrix announced it entered into a strategic partnership with sweepstakes casino Moozi, providing dozens of games to the site through Golden Matrix’s owned Expanse Studios.
Additionally, the company said in December that it applied for a license from the Alcohol and Gaming Commission of Ontario, looking to expand its games to operators in the Canadian market. This is also through Expanse Studios.
