Compliance Updates
Golden Matrix Group Subsidiary Meridianbet Enters Final Phase of Brazil Licensing
Golden Matrix Group, Inc. (Nasdaq: GMGI) is pleased to announce that its subsidiary Meridianbet has received formal notice from Brazil’s Ministry of Finance, through its Secretariat of Prizes and Betting (SPA) division, that it may proceed with the licensing process to operate in the country. This critical milestone affirms Meridianbet’s compliance with Brazil’s regulatory requirements and marks a significant step toward entering one of the worldâs most promising gaming markets.
The notice enables the company to move forward with paying the licensing fee and submitting additional documentation, including proof of certification.
Meridianbet has already allocated the necessary funds to finalize the licensing payment and will now move forward with fulfilling all conditions to ensure its place on the list of licensed operators authorized to serve Brazilian customers beginning January 1, 2025.
âWe are thrilled to be moving forward with an operating license in Brazil and are committed to swiftly meeting the final requirements set forth by the government,â said Brian Goodman, CEO of Golden Matrix Group. âThe Brazilian market represents an extraordinary growth opportunity and a key milestone in our global expansion strategy. We are confident that entering the Brazilian market will lead to2025 being a transformational year for the company as we establish a strong presence in one of three most dynamic global growth markets. This milestone reinforces our strategy of entering regions with high growth potential while continuing to deliver gaming experiences that set new quality standards for the industry.â
Golden Matrix is committed to maintaining the highest standards of compliance and innovation, and intends to strengthen its presence in Brazil over the near and long term while continuing to deliver value to its stakeholders.
Canada
Aviatrix enters North America for first time with Ontario launch
Award-winning crash game Aviatrix is now live in North America for the very first time, after securing a licence and certification in the Canadian province of Ontario.
Aviatrix has been granted a Gaming-Related Supplier (B2B) Licence by the Alcohol and Gaming Commission of Ontario (AGCO), meaning Ontario-licensed operators can now offer the game.
It’s the first time players in North America will be able to enjoy Aviatrix, marking another major milestone in the remarkable two-year journey of the game.
Aviatrix was helped through the AGCO licensing and certification process by BetComply.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: âWe committed to expanding Aviatrixâs regulated footprint, and this is another huge step. Weâre already present in many markets across Europe, so it is fantastic to add a province in Canada to the list. We are sure that players in Ontario are going to find Aviatrix every bit as enjoyable as their counterparts elsewhere.â
Aviatrix has added multiple new regulated markets over the past few weeks, including Italy, Sweden and the Netherlands.
It was also recently named âGame of the Yearâ at the EGR Operator Awards 2024.
Arizona
Arizona Department of Gaming Cease-and-Desist: Bovada Online Gambling
The Arizona Department of Gaming (“ADG”) has taken action against an overseas gaming company in Curaçao that is allegedly operating illegal online gaming sites, Bovada.com and Bovada.lv (Bovada), accessible to Arizona residents. Following an investigation into the matter, the ADG sent a cease-and-desist letter to Harp Media B.V., which operates Bovada, on November 8, 2024.
The operation of Bovada in Arizona is alleged to be a felony criminal enterprise and Bovada has been directed to desist from any future illegal gambling operations or activities of any type in Arizona. Due to the unregulated and illegal online gaming offerings on Bovada, Harp Media B.V. is claimed to be in violation of Arizona gaming laws, including:
- Promotion of Gambling (Felony) — Ariz. Rev. Stat. Ann. § 13-3303.
- Illegal Control of an Enterprise (Felony) — Ariz. Rev. Stat. Ann. § 13-2312.
- Money Laundering (Felony) — Ariz. Rev. Stat. Ann. § 13-2317.
Harp Media B.V. has been directed to immediately cease all online (or other) gambling operations and activities in Arizona, and take the necessary steps to immediately prevent and exclude Arizona residents from gambling on their websites.
“We are actively monitoring the evolving landscape of online gaming and taking proactive steps like this helps us protect Arizonaâs communities and economy from illegal activities,â said Jackie Johnson, Director of the ADG. âOur enforcement team is committed to preventing unauthorized operations from establishing a foothold here. Arizona will not be a safe haven for unlicensed or unlawful gaming, nor will we allow unlawful entities to compromise the integrity of gaming within our state.”
In light of these developments, the Arizona Department of Gaming urges residents to exercise caution with online gaming activities. Only legal, regulated operations provide important consumer protections not found in the illegal market, helping ensure a safer experience for participants. Certain online event wagering is legal in Arizona. A list of all licensed and regulated event wagering operators legally taking bets in Arizona can be found on the Departmentâs website at gaming.az.gov.
Compliance Updates
NCLGS Publishes Draft Model Internet Gaming Act
The National Council of Legislators from Gaming States (NCLGS) has published a draft of its Model Internet Gaming Act. The proposal provides a model regulatory framework for US states considering the legalisation of online gaming. The document is open for public comment until December 31.
The proposal suggests various policies for state legislators, regulators, and other stakeholders to consider. NCLGS suggests that igaming licences last for five years and recommends a tax rate of between 15 and 25%. The average tax rate in the US, excluding Pennsylvania, is 19%, it says.
The draft proposes the prohibition of sweepstakes games and mentions responsible gambling initiatives such as creating a player health program and requiring online gaming operators to designate a responsible gaming lead.
Comments can be sent by mail and interested parties can also participate in a discussion that will be held at the upcoming NCLGS meeting at Caesars New Orleans from December 12 to 15.
The NCLGS said: âThe objectives of this model legislation are to establish an effective, comprehensive, and efficient regulatory framework consistent with public policy that will foster public confidence and trust in the integrity of the regulatory process and the fairness of internet gaming operations. The regulatory provisions are intended to extend strict regulation and oversight over all aspects of internet gaming operations.â
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