Meridianbet One Step Closer to Brazil Gaming Market
Golden Matrix's subsidiary Meridianbet has been shortlisted for an iGaming and sports betting license in Brazil.
Rio De Janeiro, Brazil. The country aims to launch its iGaming and sports betting market by the 1st of January 2025.
LISTEN TO THIS ARTICLE:Meridianbet was one of the over 100 operators that submitted applications to operate in Brazil's upcoming regulated iGaming and sports betting market during the limited licensing window before it closed on August 20.
In its official statement announcing the milestone, Golden Matrix stated that the inclusion of its new subsidiary Meridianbet in the priority group guarantees its license will be processed by January 1, 2025, which aligns with the expected launch of Brazil's regulated gambling market. This strategy positioning ensures the company is well-placed to capitalize on the market's opening.
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. Brazil is expected to become the third-largest gaming market in the world, and this opportunity marks another key milestone for our company. Brazil's multifaceted approval process reflects the complexity and scale of this market, and we are excited about the tremendous potential that lies ahead.
Golden Matrix is a multifaceted company that operates on three fronts in the digital landscape: licensing, development, and global operation of eCommerce and online gaming platforms.
Last week, the group signed a definitive agreement with Classics for a Cause (CFAC), an Australian-based company that develops and operates online discount platforms. The deal will allow the group to have an 80% controlling interest in the company and pave the way for its expansion into the loyalty and rewards industry.
More Business News
Brazil Unveils New Gaming Rules
As Brazil is poised to enter the global gaming and sports betting stage, the government has recently released new laws governing the operation of online casino games and live gaming studios in the state.
The ordinances cover several aspects, including the technical and operational standards for online and live dealer games, compliance and certification, testing agents, and more.
Every company willing to compete in the long-awaited market like Meridianbet must adhere to these regulations and meet required standards, ensuring a safe and fair gaming experience for Brazillian players.
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