{"id":791486,"date":"2024-12-02T08:16:47","date_gmt":"2024-12-02T13:16:47","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/golden-matrix-group-subsidiary-meridianbet-enters-final-phase-of-brazil-licensing\/"},"modified":"2024-12-02T08:16:47","modified_gmt":"2024-12-02T13:16:47","slug":"golden-matrix-group-subsidiary-meridianbet-enters-final-phase-of-brazil-licensing","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/golden-matrix-group-subsidiary-meridianbet-enters-final-phase-of-brazil-licensing\/","title":{"rendered":"Golden Matrix Group Subsidiary Meridianbet Enters Final Phase of Brazil Licensing"},"content":{"rendered":"
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LAS VEGAS, Dec. 02, 2024 (GLOBE NEWSWIRE) — Golden Matrix Group Inc. (NASDAQ: GMGI) (\u201cGolden Matrix\u201d or the \u201cCompany\u201d), a global developer, licensor, and operator of online gaming platforms, is pleased to announce that its subsidiary Meridianbet has received formal notice from Brazil’s Ministry of Finance, through its Secretariat of Prizes and Betting (SPA) division, that it may proceed with the licensing process to operate in the country. This critical milestone affirms Meridianbet’s compliance with Brazil’s regulatory requirements and marks a significant step toward entering one of the world\u2019s most promising gaming markets.<\/p>\n

The notice enables the company to move forward with paying the licensing fee and submitting additional documentation, including proof of certification.<\/p>\n

Meridianbet has already allocated the necessary funds to finalize the licensing payment and will now move forward with fulfilling all conditions to ensure its place on the list of licensed operators authorized to serve Brazilian customers beginning January 1, 2025.<\/p>\n

\u201cWe are thrilled to be moving forward with an operating license in Brazil and are committed to swiftly meeting the final requirements set forth by the government,\u201d said Brian Goodman, CEO of Golden Matrix Group. \u201cThe Brazilian market represents an extraordinary growth opportunity and a key milestone in our global expansion strategy. We are confident that entering the Brazilian market will lead to 2025 being a transformational year for the company as we establish a strong presence in one of three most dynamic global growth markets. This milestone reinforces our strategy of entering regions with high growth potential while continuing to deliver gaming experiences that set new quality standards for the industry.\u201d<\/p>\n

Golden Matrix Group is committed to maintaining the highest standards of compliance and innovation and intends to strengthen its presence in Brazil over the near and long term while continuing to deliver value to its stakeholders.<\/p>\n

\n About Golden Matrix Group<\/strong>\n <\/p>\n

Golden Matrix Group (GMGI), based in Las Vegas, NV, is an established B2B and B2C gaming technology company operating across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms, while its B2C operations, through Meridianbet, provide sports betting and gaming services across 18 regulated jurisdictions globally. Golden Matrix is committed to delivering cutting-edge technology and innovation to its clients and customers. For more information, visit www.goldenmatrix.com<\/u><\/a><\/p>\n

\n Connect with us<\/strong>\n <\/p>\n

\n
\n ir@goldenmatrix.com<\/u>
\n <\/a>\n <\/p>\n

\n
\n https:\/\/twitter.com\/gmgi_official<\/u>
\n <\/a>\n <\/p>\n

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\n https:\/\/www.instagram.com\/goldenmatrixgroup\/<\/u>
\n <\/a>\n <\/p>\n

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\n https:\/\/x.com\/meridianbet_ofc<\/u>
\n <\/a>\n <\/p>\n

\n
\n ir@meridianbet.com<\/u>
\n <\/a>\n <\/p>\n

\n About Meridianbet<\/strong>\n <\/p>\n

Founded in 2001, Meridianbet Group is a well-established online sports betting and gaming group, licensed and currently operating in 18 jurisdictions across Europe, Africa, and South America. The Meridianbet Group’s successful business model utilizes proprietary technology and scalable systems, allowing it to operate in multiple countries and currencies with an omni-channel approach to markets, including retail, desktop online, and mobile. The Company is part of the Golden Matrix Group (Nasdaq: GMGI).<\/p>\n

For more information, visit https:\/\/ir.meridianbet.com<\/u><\/a><\/p>\n

YouTube – https:\/\/www.youtube.com\/@MeridianbetIR<\/u><\/a>\u00a0\u00a0<\/p>\n

Twitter – https:\/\/twitter.com\/meridianbet_ofc<\/u><\/a>\u00a0\u00a0<\/p>\n

Email: ir@meridianbet.com<\/u><\/a><\/p>\n

\n Forward-Looking Statements <\/strong>\n <\/p>\n

Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 (\u201cforward-looking statements\u201d). Words such as \u201cstrategy,\u201d \u201cexpects,\u201d \u201ccontinues,\u201d \u201cplans,\u201d \u201canticipates,\u201d \u201cbelieves,\u201d \u201cwould,\u201d \u201cwill,\u201d \u201cestimates,\u201d \u201cintends,\u201d \u201cprojects,\u201d \u201cgoals,\u201d \u201ctargets\u201d and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements.<\/p>\n

Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, the ability of the Company to obtain the funding required to pay certain Meridianbet Group acquisition post-closing obligations, the terms of such funding, potential dilution caused thereby and\/or covenants agreed to in connection therewith; potential lawsuits regarding the acquisition; dilution caused by the terms of the Note and Warrant, the Company\u2019s ability to pay amounts due under the Note and covenants associated therewith and penalties which could be due under the Note and securities purchase agreement for failure to comply with the terms thereof; the business, economic and political conditions in the markets in which the Company operates; the effect on the Company and its operations of the ongoing Ukraine\/Russia conflict and the conflict in Israel, changing interest rates and inflation, and risks of recessions; the need for additional financing, the terms of such financing and the availability of such financing; the ability of the Company and\/or its subsidiaries to obtain additional gaming licenses; the ability of the Company to manage growth; the Company\u2019s ability to complete acquisitions and the availability of funding for such acquisitions; disruptions caused by acquisitions; dilution caused by fund raising, the conversion of outstanding preferred stock, convertible securities and\/or acquisitions; the Company\u2019s ability to maintain the listing of its common stock on the Nasdaq Capital Market; the Company\u2019s expectations for future growth, revenues, and profitability; the Company\u2019s expectations regarding future plans and timing thereof; the Company\u2019s reliance on its management; the fact that the sellers of the Meridianbet Group hold voting control over the Company; related party relationships; the potential effect of economic downturns, recessions, increases in interest rates and inflation, and market conditions, decreases in discretionary spending and therefore demand for our products and services, and increases in the cost of capital, related thereto, among other affects thereof, on the Company\u2019s operations and prospects; the Company\u2019s ability to protect proprietary information; the ability of the Company to compete in its market; the effect of current and future regulation, the Company\u2019s ability to comply with regulations and potential penalties in the event it fails to comply with such regulations and changes in the enforcement and interpretation of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our business; the risks associated with gaming fraud, user cheating and cyber-attacks; risks associated with systems failures and failures of technology and infrastructure on which the Company\u2019s programs rely; foreign exchange and currency risks; the outcome of contingencies, including legal proceedings in the normal course of business; the ability to compete against existing and new competitors; the ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company\u2019s products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this press release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved.<\/p>\n

Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company\u2019s publicly-filed reports, including, but not limited to, under the \u201cSpecial Note Regarding Forward-Looking Statements,\u201d \u201cRisk Factors\u201d and \u201cManagement\u2019s Discussion and Analysis of Financial Condition and Results of Operations\u201d sections of the Company\u2019s periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, including, but not limited to, the Company\u2019s Annual Report on Form 10-K for the year ended October 31, 2023 and its Quarterly Report on Form 10-Q for the quarter ended January 31, 2024, and future periodic reports on Form 10-K and Form 10-Q. These reports are available at\u00a0www.sec.gov<\/u><\/a>.<\/p>\n

\n ICR (United States):<\/strong>
\n
Brett Milotte
Brett.Milotte@icrinc.com<\/u><\/a>
Greg Michaels
Gregory.Michaels@icrinc.com<\/u><\/a>
St Brides Partners (U.K.):<\/strong>
Ana Ribeiro
Ana@stbridespartners.co.uk<\/u><\/a><\/p>\n

Charlotte Page
charlotte@stbridespartners.co.uk<\/u><\/a><\/p>\n

\n Attachment<\/strong>\n <\/p>\n