Expanse Studios, a subsidiary of Golden Matrix Group Inc. (GMGI), received a software provider license from Sweden’s gambling regulator Spelinspektionen on December 3, 2025. The license authorizes the company to supply its proprietary slot, crash, and casino games to licensed operators across Sweden, a market that generated €2.4 billion in gambling revenue in 2024 and where online gaming accounts for 64 % of total activity.
Sweden’s iGaming market is one of the most mature and regulated in Europe. With a population of 10.5 million and internet penetration of 96 %, the country has a high channelization rate of 85 % and a strong mobile‑gaming culture. The B2B license allows Expanse to tap a high‑spending, tech‑savvy player base without establishing a local entity or paying corporate taxes in Sweden, giving GMGI a cost‑efficient entry into a lucrative market.
Expanse Studios brings a portfolio of more than 56 proprietary titles, including Super Heli, Titan Roulette, and Wild Icy Fruits. The Swedish license expands the reach of these games to operators such as Betsson, Unibet, and LeoVegas, which already dominate the Swedish market. The ability to distribute through existing licensed operators positions Expanse to capture a share of the country’s growing online segment while leveraging its mobile‑first development expertise.
The approval is a key milestone in GMGI’s strategy to build a global B2B footprint in regulated markets. By securing a license in Sweden, Expanse gains a reference case that can accelerate approvals in other European jurisdictions, such as the United Kingdom, Germany, and the Netherlands. The move also strengthens GMGI’s competitive position against other platform providers that lack Swedish regulatory clearance, potentially increasing its attractiveness to operators seeking a compliant technology partner.
The company’s leadership highlighted that the Swedish license aligns with its broader growth plan, which includes expanding into new markets and deepening relationships with existing operators. The B2B model is expected to generate incremental revenue streams while maintaining high margins, as the company can avoid the costs associated with local incorporation and direct taxation.
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