Golden Matrix Group, Inc. (Nasdaq: GMGI) has announced a key milestone for its subsidiary Meridianbet, which has gained official approval from Brazil’s Ministry of Finance, through its Secretariat of Prizes and Betting (SPA), to move forward in the licensing process for operating in the country.
This development demonstrates Meridianbet’s compliance with Brazilian regulatory regulations, allowing it to enter one of the world’s most dynamic and rapidly expanding gaming marketplaces.
Meridianbet can proceed with the next stages after receiving the notification, which include paying the licensing cost and submitting the required papers, such as certification evidence. The company has already set aside funds to finish the licensing payment and is actively working to meet all remaining requirements.
Meridianbet’s placement on the list of approved operators able to service Brazilian consumers begins January 1, 2025.
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Golden Matrix Group is committed to upholding compliance and encouraging innovation in its operations. As it grows its footprint in the region, the company hopes to strengthen its presence in the Brazilian market while also creating value for stakeholders.
“We are thrilled to be moving forward with an operating license in Brazil and are committed to meeting the final requirements outlined by the government,” stated Brian Goodman, CEO of Golden Matrix Group. “The Brazilian market represents a tremendous growth opportunity and a significant milestone in our global expansion strategy.” We are certain that joining the Brazilian market will make 2025 a transformative year for the company, as we create a strong presence in one of the three most dynamic global growth regions. This milestone confirms our objective of expanding into high-growth markets while continuing to provide gaming experiences that set industry standards for quality.”
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