Golden Matrix Group Enters South Africa via Meridianbet

Golden Matrix Group’s subsidiary, Meridianbet, has been granted a sports betting license by the Western Cape Gambling and Racing Board, marking a significant expansion into the South African market. This new license allows Meridianbet to offer online sports betting services across the country, highlighting the company’s commitment to growing its international presence.

Expanding into a New Market

The Western Cape Gambling and Racing Board has issued Meridianbet several key licenses: a Bookmaker License, a Bookmaker Premises License, and a Manufacturer License. These licenses permit the operation of online sports betting nationwide and enable Meridianbet to deploy its proprietary sports betting technology within the Western Cape region. This development underscores Meridianbet’s regulatory compliance and fit-and-proper status within South Africa’s stringent licensing framework.

Zoran Milosevic, CEO of Meridianbet, expressed his enthusiasm about this expansion, stating, “We are thrilled to enter the South African market, and this new license presents a significant opportunity for us to continue to scale our operations. Expanding our reach into South Africa will provide new opportunities to grow our user base in an entirely new jurisdiction, underscoring our ongoing commitment to growing our industry-leading brands around the world.”

The South African digital gambling market has been experiencing substantial growth. According to Statista, the market is projected to reach $828.50 million by the end of 2024, with an expected compound annual growth rate (CAGR) of 5.77% from 2024 to 2029. This growth trajectory is set to result in a projected market volume of $1.1 billion, highlighting the lucrative opportunities within this sector.

South Africa’s sports betting sector significantly contributes to the country’s economy, accounting for 50% of gross gambling revenue. In the 2023 fiscal year, the gross gambling revenue (GGR) in South Africa totaled $2.42 billion. This market potential aligns with Meridianbet’s strategic goals, supporting its consistent operational growth and innovation within the global iGaming industry.

Golden Matrix Group and Meridianbet’s Strategic Vision

Golden Matrix Group is a leading B2B and B2C gaming technology company based in Las Vegas, NV. It utilizes proprietary technology to operate globally across multiple international markets. The B2B division of Golden Matrix develops and licenses branded gaming platforms, while its B2C division, RKings, operates a high-volume eCommerce site for paid competitions. Additionally, Golden Matrix owns and operates MEXPLAY, a regulated online casino in Mexico.

In 2024, Golden Matrix completed the acquisition of Meridianbet, a well-established B2B and B2C sports betting and gaming platform. Meridianbet operates in multiple markets across Europe, Africa, and Latin America, providing the combined entity with a robust international footprint.

Founded in 2001, Meridianbet Group is a prominent online sports betting and gaming company, licensed and operating in 17 jurisdictions across Europe, Africa, and South America. The company’s successful business model leverages proprietary technology and scalable systems, allowing it to operate in various countries and currencies through an omnichannel approach that includes retail, desktop online, and mobile platforms.

The strategic partnership between Golden Matrix Group and Meridianbet aims to leverage their combined expertise to drive further growth and innovation in the global iGaming market.

Source: Golden Matrix Group Granted South African Sports-Betting License, NewMediaWire, June 20, 2024.