VALLETTA , Malta, July 01, 2025 (GLOBE NEWSWIRE) — Expanse Studios, the B2B game development division of Golden Matrix Group Inc. (NASDAQ: GMGI), has received official certification from Croatia’s Ministry of Finance for its flagship game Super Heli, with additional titles in the company’s 56-game portfolio expected to receive approval in the coming weeks for the EU member state.

The certification marks a strategic entry into a market that generated US$484.70m in 2024, with projected growth at a CAGR of 8.4% during 2024-2030. Super Heli, Expanse’s most popular crash-style game, becomes the first of the studio’s titles approved for the Croatian market, paving the way for broader portfolio distribution.

Tapping Into High-Growth European Market

Croatia represents a compelling opportunity for B2B gaming suppliers, with the Online Casinos segment alone projected at US$218.10m in 2024. According to iGamingToday’s latest market research, Croatia’s gambling market will reach €720.42 million by 2025, making it one of Europe’s fastest-growing regulated markets.

Among the key market benefits are:

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• Accelerating digital adoption – Internet penetration jumped from 76% in 2020 to 83% in 2023
• Over 20.6 million tourist arrivals in 2023 following Schengen Zone entry
• Over 500,000 Croatians expected to engage in regular online gambling by 2027

Strategic Value for the Company

The certification strengthens Expanse Studios’ European footprint at a critical juncture. With 56 proprietary titles and 500+ B2B partners globally, Expanse is expected to capture a meaningful share in the growing EU market.

“Croatia certification is more than market access—it’s validation of our content quality and compliance capabilities in demanding EU jurisdictions,” said Damjan Stamenkovic, CEO of Expanse Studios. “With our flagship title Super Heli already approved and more games in the pipeline, we’re very excited for the opportunities this markets brings us.”

Competitive Advantage in Regulated Markets

Croatia’s regulatory framework favors established, compliant B2B providers. Operators must obtain licenses requiring significant capital investment, and only licensed casino games operators who have at least one brick-and-mortar casino can offer online gambling. This creates high barriers to entry and positions certified B2B suppliers like Expanse as essential partners for operators.

About Golden Matrix

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Golden Matrix Group, based in Las Vegas NV, is an established B2B and B2C gaming technology company operating across multiple international markets. The B2B division of Golden Matrix develops and licenses proprietary gaming platforms for its extensive list of clients and RKings, its B2C division, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The Company also owns and operates MEXPLAY, a regulated online casino in Mexico.

About Expanse Studios

Founded in 2017, Expanse Studios, part of Golden Matrix Group (NASDAQ: GMGI), is a B2B iGaming content provider, specializing in slots, crash games, table games, and gamified casino experiences. With a portfolio of 55 proprietary games, the studio delivers high-quality, market-adapted content for regulated markets. For more information, visit expanse.studio or contact [email protected]. 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3e072e16-8365-4c49-95e3-c6b40ed433a8

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LAS VEGAS, July 01, 2024 (GLOBE NEWSWIRE) — Expanse Studios, iGaming development studio and part of the Golden Matrix Group (NASDAQ: GMGI) is thrilled to announce a new strategic partnership with Betika, Kenya’s leading online gaming company.

This collaboration, facilitated by our alliance with Casimba Casino, will further increase Expanse Studios’ iGaming experience across Africa, tapping into Betika’s extensive operations across multiple countries including Kenya, Tanzania, Ethiopia, and Nigeria.

This partnership will transform the iGaming landscape in Kenya by delivering Expanse Studios’ diverse portfolio directly to Kenyan iGaming enthusiasts. With Betika’s robust presence in the region, players in Kenya—and extending to Tanzania, Ethiopia, and Nigeria—will now have access to Expanse’s top-tier slot games, innovative crash games, classic card games, and our uniquely gamified turn-based strategy games.

Damjan Stamenkovic, CEO of Expanse Studios, expressed excitement about this new venture, stating, “Partnering with Betika not only expands our footprint in the vibrant and rapidly growing African iGaming market but also aligns perfectly with our mission to deliver superior gaming product through constant innovation.”

Kenya’s iGaming Market: A Hub of Growth and Opportunity

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According to Statista, Kenya’s iGaming market is poised for substantial growth, with online gambling revenues expected to hit €92.44m in 2024 and forecasted to grow at a CAGR of 6.25%, reaching approximately €117.80m by 2028. The online casinos segment alone is anticipated to generate €51.60m in 2024, demonstrating significant market potential.

Moreover, Kenya is distinguished by its high internet penetration rate of 40.8%, predominantly mobile, which enhances access to online gaming platforms. With an expected user base of 366.0k by 2028 and a robust projected ARPU of €312.60, the partnership strategically positions Expanse Studios to tap into this burgeoning market.

Kenya’s vibrant gambling market ranks third in Sub-Saharan Africa and is notable for its youthful demographic. Young Kenyans are increasingly engaged in online gambling, spending significantly more than their counterparts in other African nations.

Partnership Tailored for a Young, Tech-Savvy Audience

By aligning with Betika, Expanse Studios not only capitalizes on Kenya’s dynamic market conditions but also ensures that its innovative gaming solutions are ideally positioned to meet the demands of a diverse and growing player base. This strategic initiative underscores our commitment to expanding our global footprint while enhancing shareholder value through targeted market penetration and sustained growth in emerging iGaming landscapes.

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About Betika

Betika is Kenya’s foremost sports betting platform and a Pan-African leader in gaming. It offers an extensive array of products, including sports betting, casino games, virtual games, and e-sports betting. Betika is committed to responsible gaming and aims to positively impact communities through technology and innovation. With operations spread across Kenya, Tanzania, Ethiopia, Ghana, Malawi, Mozambique, Nigeria, Zambia, and DRC, Betika’s vision is to be the leading Pan African sports betting and gaming brand.

About Expanse Studios

Founded in 2017, Expanse Studios is already a trailblazer in the online gaming industry. With a relentless focus on innovation, Expanse merges old-school motifs with state-of-the-art design in iGaming, captivating soundtracks, and immersive animations. The studio has developed an impressive array of more than 50 games, all tailored to offer a seamless mobile-first experience. Their strategic partnerships span across various operators and aggregators, making their games available in over 20 of the most widely spoken languages, catering to a diverse global audience. Expanse Studios is part of the Golden Matrix Group (Nasdaq: GMGI).

For more information, to make additional queries, and to appoint a meeting with the Studio’s team, contact:

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www.expanse.studio

[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f38f63eb-89c2-4406-9e62-e266301e398a

BELGRADE, Serbia, June 24, 2024 (GLOBE NEWSWIRE) — Expanse Studios, a distinguished iGaming brand, announces a successful completion of series of recent corporate social responsibility (CSR) initiatives that highlight the company’s commitment to community and environmental stewardship.

Expanse Studios Hiking and Environmental Cleanup

In June, the Expanse Studios team embarked on a hiking trip to Veliki Štrbac in the Miroč Mountain, located in the Đerdap National Park, southeastern Serbia. This stunning location, with its highest peak at 768 meters and breathtaking views of the Danube from three lookout points, provided the perfect backdrop for their civic engagement activity. During the hike, the Expanse Studios team contributed to nature conservation by collecting litter along the trail. This initiative reflects the company’s dedication to preserving natural landscapes and promoting environmental awareness.

Clothing Donation to Children’s Boarding Houses

In May 2024, Expanse Studios extended its community support efforts by donating clothes to a local boarding house for children. This heartwarming initiative not only provided essential items to those in need but also underscored the company’s commitment to making a positive impact beyond the gaming world.

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Strategic Value Delivered

These CSR activities are integral to Expanse Studios’ strategic vision of integrating social responsibility into its core operations. By developing an in-house iGaming studio, the company has significantly strengthened its market position and created long-term value for investors. This commitment to ethical business practices attracts socially conscious investors and reinforces the brand’s reputation.

A Proven CSR Track Record

Expanse Studios’ recent initiatives are part of a broader commitment to CSR, demonstrated by a range of previous campaigns, including:

– Environmental Sustainability: Participation in afforestation projects and public cleanup campaigns along with the parent company Meridianbet.

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– Community Support: Sponsorship of local sports clubs, organization of blood donation drives, and support for cultural institutions.

– Social Inclusion: Engagement in projects that promote diversity and inclusion within the community.

About Expanse Studios

Founded in 2017, Expanse Studios is a trailblazer in the online gaming industry. With a relentless focus on innovation, Expanse merges old-school motifs with state-of-the-art design in iGaming, captivating soundtracks, and immersive animations. The studio has developed an impressive array of more than 50 games, all tailored to offer a seamless mobile-first experience. Their strategic partnerships span across various operators and aggregators, making their games available in over 20 of the most widely spoken languages, catering to a diverse global audience.

For more information, visit https://expanse.studio or contact [email protected].

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e0cee357-3a0f-487a-a30b-b8d691783801