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Golden Matrix Group announced it is making progress to expand with its entry into the US online gambling market.
In a press release, GMGI revealed that the expansion plans will start in New Jersey through its subsidiary, Expanse Studios.
Key takeaways
- Las Vegas-based GMGI is a leading international developer and licensor of online gaming platforms, systems and gaming content.
- Golden Matrix Group (NASDAQ: GMGI) is applying for the New Jersey Casino Service Industry Enterprise license.
- Golden Matrix will apply for additional licenses as part of its plan to increase its US presence.
GMGI is targeting the New Jersey online casino market
GMGI is applying for the New Jersey Casino Service Industry Enterprise license through its subsidiary Expanse Studios. Expanse Studios specializes in the production and distribution of iGaming content.
GMGI confirmed on Wednesday that it has initiated discussions with several licensed New Jersey online casinos. Once the licensing process is finalized, GMGI plans to serve as a B2B provider of its proprietary Expanse Studios iGaming content to fully regulated and licensed NJ online casinos and sportsbook operators.
Golden Matrix aims to build on its US online casino presence
Golden Matrix Group is a leading B2B (business-to-business) and B2C (business-to-consumer) gaming technology company that utilizes proprietary technology and operates globally across multiple international markets.
The company revealed its intentions to build on its US presence by applying for additional licenses. It plans to sign servicing operator agreements in states where iGaming is legal.
Apart from New Jersey, the regulated US online casino market includes Pennsylvania, West Virginia, Michigan and Connecticut.
So far, GMGI’s Expanse Studios division has received an online casino license for the Bulgarian market. Additionally, the company is actively pursuing licenses in Croatia and Romania.
GMGI recently acquired the subsidiary Meridianbet, which focuses on implementing its brand in other key markets, including Brazil, Peru, and South Africa.
The B2B division of Golden Matrix develops and licenses branded gaming platforms for its extensive list of clients.
Meanwhile, its B2C division, RKings, operates an eCommerce site enabling end users to enter paid-for competitions on its exclusive platform in authorized markets.
