Golden Matrix Group’s iGaming content arm, Expanse Studios, announced a new European distribution partnership with AdmiralBet on November 28, 2025. The deal will see AdmiralBet integrate and distribute Expanse’s top‑performing proprietary titles—Super Heli, Titan Roulette, 100 Super Icy, and Wild Icy Fruits—across its online platforms, extending the studio’s reach in a highly regulated market.
The partnership is a key element of Expanse’s broader strategy to scale its high‑margin B2B operations in Europe. AdmiralBet, a Serbian sports betting and gaming operator owned by the Novomatic Group, brings an established distribution network and a strong presence in Southeast Europe. By leveraging AdmiralBet’s network and Novomatic’s global footprint, Expanse can accelerate penetration into regulated jurisdictions where licensing costs and compliance requirements are higher but margins are more stable.
Expanse Studios currently offers 56 proprietary titles that power more than 1,300 casino brands worldwide. Golden Matrix Group reported Q3 2025 revenue of $47.3 million, up 15% year‑on‑year, and a net income of $0.4 million, marking a return to profitability after a period of investment‑driven losses. The new deal aligns with the group’s focus on deleveraging and strengthening its balance sheet while expanding its content footprint in high‑growth markets.
While specific financial terms of the partnership—such as duration, revenue‑sharing arrangements, and exclusivity clauses—have not been disclosed, the agreement is expected to broaden Expanse’s distribution channels and reinforce its position as a leading B2B content provider in regulated European markets. The deal also signals confidence in the continued demand for high‑quality iGaming content amid tightening regulatory scrutiny.
AdmiralBet’s market share in Serbia is significant, and its recent modernization of digital payment solutions positions it well to absorb new content. The partnership therefore represents a strategic alignment that could enhance both parties’ competitive positioning in a market where regulatory compliance and customer experience are increasingly decisive factors.
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