Meridianbet Secures Permanent Betting License in Brazil

Golden Matrix Group Inc. (NASDAQ: GMGI) (“Golden Matrix” or the “Company”), a developer and licensor of advanced online gaming platforms and content, proudly announces that its subsidiary, Meridian Gaming Brasil SPE Ltda (“Meridianbet”), has been duly granted a definitive federal license (No. 0086/2024) by Brazil’s Ministry of Finance Secretariat of Prizes and Betting (SPA/MF), authorizing Meridianbet to operate online and retail fixed-odds betting across the country until December 31, 2029.

The permanent betting license was issued under SPA/MF Ordinance No. 526, as published in the Official Gazette of the Union (Diário Oficial da União), Section 1, Page 71.

This definitive authorization further cements Golden Matrix’s strategic expansion in one of the world’s largest and fastest-growing regulated gaming markets, building on the initial online betting license awarded to Meridianbet on January 2, 2025. The confirmation of Meridianbet’s fully licensed status in Brazil represents a major milestone, enabling the Company to fully capitalize on Brazil’s projected $5.6 billion Gross Gaming Revenue (GGR) market in 2025 (H2 Gambling Capital).

Brian Goodman, CEO of Golden Matrix Group, commented:

“The issuance of our permanent betting license in Brazil marks an incredible achievement for Golden Matrix and our stakeholders. With this final regulatory approval, Meridianbet is now fully authorized to operate in both online and retail betting, unlocking a substantial revenue-generating opportunity in a market with immense long-term potential. This milestone further reinforces our commitment to global expansion, regulatory compliance, and delivering shareholder value as we scale our business in high-growth markets.”

“Securing a nationwide, definitive online betting license in Brazil is a historic moment for Meridianbet, which marks a new phase in our growth trajectory. Brazil is a cornerstone market in the global gaming landscape, and this authorization allows us to bring our best-in-class gaming experience to millions of players. We are excited to leverage our proprietary technology, deep market expertise, and operational excellence to drive success in this high-potential region.” added Zoran Milosevic, CEO of Meridianbet.

Permanent Betting License in Brazil – Strategic Significance & Growth Potential

• The definitive license provides long-term operational security for Meridianbet in Brazil’s regulated gaming sector, allowing for strategic market penetration and investment certainty
• Meridianbet is now one of the few operators licensed for both online and physical betting in Brazil, ensuring a diverse and scalable revenue model
• With Brazil’s gaming market continuing to mature, this definitive authorization strengthens Meridianbet’s ability to capture market share and expand its customer base
• The fully licensed status in Brazil aligns with Golden Matrix’s long-term growth strategy, positioning the Company for sustained revenue acceleration and increased profitability.

Golden Matrix Group remains dedicated to expanding its footprint in regulated, high-growth gaming markets worldwide while maintaining best-in-class compliance standards and responsible gaming practices. This definitive license in Brazil represents another transformational step in our ongoing journey to deliver industry-leading gaming experiences and shareholder value.

About Golden Matrix Group

Golden Matrix Group (GMGI), based in Las Vegas, NV, is a leading B2B and B2C gaming technology company operating across multiple international markets. The Company’s B2B division develops and licenses proprietary gaming platforms, while its B2C operations, through Meridianbet, provide sports betting and gaming services across 18+ regulated jurisdictions worldwide. For more information, visit www.goldenmatrix.com.

About Meridianbet

Founded in 2001, Meridianbet is a well-established global gaming operator, offering sports betting and casino gaming across Europe, Africa, and Latin America. With a strong emphasis on proprietary technology and scalability, Meridianbet delivers omnichannel gaming solutions, integrating retail, desktop, and mobile platforms for seamless user experiences. The Company is a wholly owned subsidiary of Golden Matrix Group (NASDAQ: GMGI). For more information, visit ir.meridianbet.com