Golden Matrix Group Subsidiary Expanse Studios Enters New Market Segment With Launch of First Social Casino Game

/EIN News/ -- LAS VEGAS, NV, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Golden Matrix Group, Inc. (NASDAQ: GMGI) ("Golden Matrix" or the "Company") today announced the release of Beach Penalties, the first-ever social casino game from its subsidiary Expanse Studios, a leading developer of online casino games. The release marks Expanse’s growth into the fast-growing social gaming market, unlocking a new category within the company’s diverse portfolio of gaming products.

Beach Penalties is an engaging instant game designed to capture the excitement of a soccer penalty shootout on a sunny beach. Players can outsmart the goalkeeper, score penalties and win prizes while choosing from a variety of customizable features, making the game a standout in the social casino landscape.

With vibrant animations, multiple gameplay levels and the option for players to adjust volatility, Beach Penalties offers a dynamic gaming experience tailored to both casual and seasoned players.

Key Features

• Category: Beach Penalties is categorized under ‘Other Games’ and ‘Strategy Games,’ blending simple gameplay with strategic elements.
• Gameplay Levels: The game offers three levels—Regular Scorer, Expert Scorer, and Expert Goalkeeper—each providing increasing challenges and rewards.
• RTP and Volatility: Players can select from varying RTPs ranging from 96.5% to 97.5%, allowing for flexible volatility and odds depending on gameplay preferences. Odds and rewards increase as players advance and take penalty shots, with the option to cash out winnings at any time.
• Additional Features: Beach Penalties includes jackpots, tournaments, and a unique tutorial feature for new players to get acquainted with the game quickly.
• User Experience: Designed with vibrant animations and user-friendly controls, the game provides a smooth and enjoyable experience for players of all skill levels.

Beach Penalties stands as Expanse Studios' first entry into the social casino gaming segment, a market projected to reach over $39.95 billion by 2032, according to industry research conducted by Business Research Insights. The global social gaming market is expected to grow at a CAGR of 5.38% between 2024 and 2032, with regions like North America and Asia Pacific leading the growth. The demand for social gaming continues to rise, particularly among younger generations seeking entertainment with a casual, stress-free appeal.

“The launch of Beach Penalties is an exciting development for Expanse Studios as we enter the social gaming market for the first time. Social casino games represent a significant opportunity for growth, and Beach Penalties allows us to showcase our ability to create engaging, accessible content that resonates with a wide audience. We look forward to further expanding our social casino offerings and pursuing new opportunities in this thriving market,” said Expanse Studios CEO Damjan Stamenkovic.

The introduction of Beach Penalties is part of Golden Matrix Group’s broader strategy to diversify its gaming portfolio and leverage emerging trends within the gaming industry. Social gaming, which blends traditional gameplay with social interactions, continues to be a high-growth sector. Expanse Studios' ability to innovate and deliver content in this space aligns with Golden Matrix Group’s commitment to driving value for both players and investors.

About Golden Matrix

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, while its B2C division, including Meridianbet, operates regulated online sports betting and gaming sites.

About Expanse Studios

Expanse Studios is a leading developer of online casino games, offering a diverse range of innovative titles, including slots, table games, crash games, social casino games and more. With a presence in over 50 regulated markets, Expanse Studios continues to expand its global reach by delivering premium gaming content to operators worldwide.

For more information, visit www.expansestudios.com.

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FORWARD-LOOKING STATEMENTS

Certain statements made in this press release contain forward-looking information within the meaning of applicable securities laws, including within the meaning of the Private Securities Litigation Reform Act of 1995 (“forward-looking statements”). Words such as “strategy,” “expects,” “continues,” “plans,” “anticipates,” “believes,” “would,” “will,” “estimates,” “intends,” “projects,” “goals,” “targets” and other words of similar meaning are intended to identify forward-looking statements but are not the exclusive means of identifying these statements.

Important factors that may cause actual results and outcomes to differ materially from those contained in such forward-looking statements include, without limitation, the ability of the Company to obtain the funding required to pay certain Meridianbet Group acquisition post-closing obligations, the terms of such funding, potential dilution caused thereby and/or covenants agreed to in connection therewith; potential lawsuits regarding the acquisition; dilution caused by the terms of the Note and Warrant, the Company’s ability to pay amounts due under the Note and covenants associated therewith and penalties which could be due under the Note and securities purchase agreement for failure to comply with the terms thereof; the business, economic and political conditions in the markets in which the Company operates; the effect on the Company and its operations of the ongoing Ukraine/Russia conflict and the conflict in Israel, changing interest rates and inflation, and risks of recessions; the need for additional financing, the terms of such financing and the availability of such financing; the ability of the Company and/or its subsidiaries to obtain additional gaming licenses; the ability of the Company to manage growth; the Company’s ability to complete acquisitions and the availability of funding for such acquisitions; disruptions caused by acquisitions; dilution caused by fund raising, the conversion of outstanding preferred stock, convertible securities and/or acquisitions; the Company’s ability to maintain the listing of its common stock on the Nasdaq Capital Market; the Company’s expectations for future growth, revenues, and profitability; the Company’s expectations regarding future plans and timing thereof; the Company’s reliance on its management; the fact that the sellers of the Meridianbet Group hold voting control over the Company; related party relationships; the potential effect of economic downturns, recessions, increases in interest rates and inflation, and market conditions, decreases in discretionary spending and therefore demand for our products and services, and increases in the cost of capital, related thereto, among other affects thereof, on the Company’s operations and prospects; the Company’s ability to protect proprietary information; the ability of the Company to compete in its market; the effect of current and future regulation, the Company’s ability to comply with regulations and potential penalties in the event it fails to comply with such regulations and changes in the enforcement and interpretation of existing laws and regulations and the adoption of new laws and regulations that may unfavorably impact our business; the risks associated with gaming fraud, user cheating and cyber-attacks; risks associated with systems failures and failures of technology and infrastructure on which the Company’s programs rely; foreign exchange and currency risks; the outcome of contingencies, including legal proceedings in the normal course of business; the ability to compete against existing and new competitors; the ability to manage expenses associated with sales and marketing and necessary general and administrative and technology investments; and general consumer sentiment and economic conditions that may affect levels of discretionary customer purchases of the Company’s products, including potential recessions and global economic slowdowns. Although we believe that our plans, intentions and expectations reflected in or suggested by the forward-looking statements we make in this press release are reasonable, we provide no assurance that these plans, intentions or expectations will be achieved.

Other important factors that may cause actual results and outcomes to differ materially from those contained in the forward-looking statements included in this communication are described in the Company’s publicly-filed reports, including, but not limited to, under the “Special Note Regarding Forward-Looking Statements,” “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s periodic and current filings with the SEC, including the Form 10-Qs and Form 10-Ks, including, but not limited to, the Company’s Annual Report on Form 10-K for the year ended October 31, 2023 and its Quarterly Report on Form 10-Q for the quarter ended January 31, 2024, and future periodic reports on Form 10-K and Form 10‑Q. These reports are available at www.sec.gov.

Attachment

• Golden Matrix Group Inc,