MEXPLAY: new online casino in Mexico
The number of online casinos in the Mexican regulated market is growing, one of the most important in the Latin American panorama. The Ministry of the Interior (SEGOB) is the regulatory authority responsible for granting licenses in the North American country. MEXPLAY, as the new online casino is called, has started operating this November and it is a B2C license owned by Golden Matrix Group that in this way hopes to start its expansion in the Latin American regulated markets.
Mexico is one of the leading online gambling markets in Latin America. A new online casino has just been added, MEXPLAY, owned by the American group Golden Matrix. ©Aidan Howe/Unsplash
The regulated gambling market in Mexico has grown with a new online casino owned by the Las Vegas-based Golden Matrix group. MEXPLAY, as the new casino is called, is available in English and Spanish and it offers traditional casino games in addition to sports and the new tournament feature very similar to those offered on the website R. Kings Competitions, Golden Matrix subsidiary for Ireland and Great Britain.
Mexico is arguably the most important regulated gambling market in Latin America and has experienced a great expansion in recent years. Golden Matrix contemplates the launch of MEXPLAY as the first step in its expansion strategy in Latin American regulated markets . Latin America is considered by analysts and experts as one of the most attractive markets for the gaming industry today.
“The gambling market in Latin America reflects the diversity of the region, as each country has different legislation to regulate sports betting, lotteries and casinos. Despite the challenges posed by such a fragmented legal framework, the gross gaming revenue (GGR) of the betting market in Latin America is projected to almost triple between 2020 and 2025, peaking at more than three billion US dollars. As for the gross revenue of online gambling in Latin America, an April 2022 study forecasts significant growth between 2021 and 2026. This growth was mainly driven by only three countries: Brazil, Mexico and Colombia. That said, this scenario will largely depend on Brazil successfully adopting online gambling regulations, which will be implemented by the end of 2022.” Source: statista
To the weight of Colombia, Mexico and Brazil in the Latin American gambling market we must add the new legislation that is expected to be implemented next year in Peru and Chile , in addition to the important expansion that online gambling is experiencing in the Autonomous City of Buenos Aires, along with the Buenos Aires province as well, with more Argentine provinces adding regulations that authorize the practice of internet gambling.
Golden Matrix CEO Brian Goodman, he stressed the importance of MEXPLAY for the global strategy of the company whose business is mainly located in the Asia-Pacific region.
“This represents the next important step for our company to expand its B2C footprint. The recently acquired B2C operations of RKings now represent more than 50% of our revenues and more than 50% of our profits; likewise, we now expect significant contributions to the growth of revenues and profits from our operations in Mexico. While MEXPLAY offers many traditional and popular online casino games and a sportsbook, it also incorporates the added excitement of the tournament business, which is unique to the Mexican game and should attract considerable interest and participation from players.”
It remains to be seen if the tournament model will succeed in settling in Mexico, a type of bet unknown in Latin countries.
The financial results support the expansion strategy
Golden Matrix has also reported the good results obtained in the third quarter of the year, which add to a consolidation of B2B and B2C operations throughout 2022 .
- Revenue increases by 180% during the third quarter relative to the same quarter the previous year exceeding $9 million.
- The number of registered users in the B2B segment stands at 6.8 million.
- The B2C segment (RKings Competitions) has more than 200,000 registered users.
Source: Golden Matrix Group
