Golden Matrix Group, Inc. (NASDAQ: GMGI) ("Golden Matrix" or the
"Company"), today announced that its wholly owned subsidiary
Meridianbet, a leading online sports betting and iGaming company,
has announced a strategic partnership with Integrity Compliance 360
(“IC360”), a prominent U.S.-based global sports integrity service
provider.
The partnership comes as Meridianbet's Brazilian subsidiary,
Meridian Gaming Brasil SPE, progresses in the licensing process for
its entry into the Brazilian market, and will reinforce the
Company’s commitment to upholding the highest standards of
integrity for its sports offering in line with global regulatory
expectations and market best practices.
The license application, filed under request number
56.195.600/0001-07, positions Meridianbet among a select group of
global operators set to participate in one of the most highly
anticipated market launches in the global sports betting and
iGaming industry.
"Our partnership with IC360 underscores our dedication to
maintaining the highest levels of integrity and transparency in all
markets we operate in, including Brazil," said Zoran Milosevic, CEO
of Meridianbet. "As we move closer to securing our license, this
collaboration will ensure that we are fully equipped to meet the
expectations of both regulatory bodies and our players in the
world’s fastest-growing emerging betting and iGaming market."
“Brazil is expected to become the third-largest gaming market in
the world, and this opportunity marks another key milestone for
Golden Matrix, and further endorses our commitment to being a major
player in the Brazilian Gaming Market,” said Brian Goodman, CEO of
Golden Matrix Group. “Brazil’s multifaceted approval process
reflects the complexity and scale of this market, and we are
excited about the tremendous potential that lies ahead. We aim to
leverage our extensive international experience, advanced
technology and innovative betting solutions to cater to the unique
preferences of Brazilian customers, and our partnership with IC360
will help ensure we’re doing it both ethically and
responsibly.”
“Meridianbet is one of the best-positioned players in the
Brazilian sports betting market,” said Scott Sadin, COO of IC360.
“We are excited to work with the experts of the local market who
understand the importance of integrity. It is our privilege to
provide them with the tools needed to create an even stronger
culture of transparency, that together can be modeled and shared
with Meridianbet’s international reach.”
Meridianbet’s partnership with IC360 comes at a critical time
for the Brazilian market, as it undergoes regulatory transformation
and positions itself as a global leader in the iGaming and sports
betting industry.
Meridianbet’s application includes both sports betting and
iGaming (online casino) under Brazil’s comprehensive licensing
regime, positioning it as one of the few operators able to offer a
full suite of gaming experiences to Brazilian players.
The Brazilian gambling industry is projected to generate $34
billion in sports betting turnover by 2028, with an onshore gross
win of $2.8 billion, according to a report by the International
Betting Integrity Association (IBIA).
About Golden Matrix Group
Golden Matrix Group, based in Las Vegas, NV, is a leading B2B
and B2C gaming technology company utilizing proprietary technology
and operating globally across multiple international markets. The
B2B division of Golden Matrix develops and licenses branded gaming
platforms for its extensive list of clients, and RKings, its B2C
division, operates a high-volume eCommerce site enabling end users
to enter paid-for competitions on its proprietary platform in
authorized markets.
About Meridianbet
Founded in 2001 and acquired by Golden Matrix in April 2024,
Meridianbet Group is a well-established online sports betting and
gaming group, licensed and/or currently operating in 17
jurisdictions across Europe, Africa, and South America.
Meridianbet’s successful business model utilizes proprietary
technology and scalable systems, thus allowing it to operate in
multiple countries and currencies and with an omni-channel approach
to markets, including retail, desktop online, and mobile.
About IC360
Integrity Compliance 360 (IC360) is a global technology and
consultancy powerhouse specializing in comprehensive integrity and
compliance solutions for sports, sports betting, gaming, and
iGaming. Leveraging the combined strengths of U.S. Integrity and
Odds On Compliance, IC360’s mission is to set new standards by
providing unparalleled services that ensure integrity,
transparency, and compliance at the intersection of the rapidly
evolving global sports betting market and sports integrity. For
more information, visit ic360.io. For more information, visit
ic360.io or contact
Connect with us
ir@goldenmatrix.com
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ICR:
Brett MilotteBrett.Milotte@icrinc.com
Greg MichaelsGregory.Michaels@icrinc.com
FORWARD-LOOKING STATEMENTS
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 (“forward-looking
statements”). Words such as “strategy,” “expects,” “continues,”
“plans,” “anticipates,” “believes,” “would,” “will,” “estimates,”
“intends,” “projects,” “goals,” “targets” and other words of
similar meaning are intended to identify forward-looking statements
but are not the exclusive means of identifying these
statements.
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’s
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’s 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’s ability to maintain the listing of its common stock on
the Nasdaq Capital Market; the Company’s expectations for future
growth, revenues, and profitability; the Company’s expectations
regarding future plans and timing thereof; the Company’s 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’s operations and prospects; the Company’s ability to
protect proprietary information; the ability of the Company to
compete in its market; the effect of current and future regulation,
the Company’s 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’s 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’s 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.
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’s publicly-filed reports, including, but
not limited to, under the “Special Note Regarding Forward-Looking
Statements,” “Risk Factors” and “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” sections
of the Company’s periodic and current filings with the SEC,
including the Form 10-Qs and Form 10-Ks, including, but not limited
to, the Company’s 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 www.sec.gov.
- Golden Matrix Group, Inc.
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