Meridianbet Officially Secures an Online Betting License in Brazil
Meridianbet, the gaming and sports betting operator, has announced it has been officially approved for an online betting license to operate in Brazil's new regulated gaming market.
Meridianbet officially approved for an online betting license in Brazil.
LISTEN TO THIS ARTICLE:This comes as the Brazilian regulatory authorities, the Secretariat for Prizes and Betting (SPA), have set up a new structure for gambling legislation in the country which starts this year. The gaming industry in Brazil is thought to be worth an estimated $5.6 billion in GGR by the end of this year.
Founded more than two decades ago Meridianbet is part of the Golden Matrix Group, and this move will see players in the Brazilian jurisdiction have the opportunity to enjoy the operators services online and in retail outlet throughout the region. The recent expansion into Brazil and North America are part of a business objective that has seen the group enjoy significant revenue growth throughout 2024.
More Business News
Brazilian Authorities Issue Over 60 Licenses
The Brazilian gaming regulator has announced it has granted over 60 gaming licenses for the new regulated gaming markets and Meridianbet joins this list of tier 1 gaming operators that are licensed top operate in under the new gaming framework that has started from January this year.
The licensing process for the new regulated market was overseen by the Secretariat for Prizes and Betting (SPA) and of the 145 gaming companies that requested gaming licenses, the regulators state that 68 have completed the full application process including payment of the license fee of R$30 million (€5 million).
This is a defining moment for the entire Golden Matrix Group and our shareholders, Brazil represents an extraordinary market opportunity, and securing this license positions Meridianbet to deliver substantial value. With our proven proprietary technology and operational expertise, we are poised to make a meaningful impact on Brazil’s regulated gaming landscape, starting in 2025.
Meridianbet has spent months preparing for the launch of the newly regulated Brazilian gaming markets and in September last year, it partnered with IC360 to achieve regulatory compliance.
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