What Expanse Studio does

Expanse Studio is a Malta-based B2B iGaming content provider founded in 2017 that develops and licenses proprietary casino games to operators and aggregation platforms worldwide. The company produces a portfolio of 77 HTML5-built titles spanning slots (e.g., Wild Icy Fruits, Gates of Olympia, VASO Psycho), roulette, table games (Sic Bo), video poker (Diamond Joker Poker, Multihand Titan Poker), instant games (Magic Wheel, Stock Trade), dice variants, lottery games (Instant Keno), and celebrity-branded content. All games are mobile-first, support 20+ languages and multiple currencies including cryptocurrencies, and offer an average RTP of 97% with medium-to-high volatility.

The company's go-to-market relies on a multi-channel distribution model: integration with major aggregator platforms (Blue Ocean Gaming's GameHub, EveryMatrix CasinoEngine, Golden Matrix, ESA Gaming, Bragg Gaming, DualSoft) provides single-API reach into 1,519 distribution sites, supplemented by direct partnerships with operators such as Flutter's MaxBet, Novomatic's AdmiralBet, Meridianbet, Brazino777, and Mozzart. Expanse monetizes via B2B content licensing and revenue-share agreements on its proprietary promotional tools (Bonus Bet, Time Free Spins, Bonus Game Trigger, multi-level progressive jackpots, tournaments). Regulatory reach spans Malta (MGA), Sweden, Romania, Colombia, Belgium, Bulgaria, Serbia, Croatia, Kenya, and additional jurisdictions.

Expanse operates as a wholly-owned subsidiary of Meridian Holdings Inc. (NASDAQ: MRDN, formerly Golden Matrix Group), which reported Q1 2026 revenue of $50.1 million (+17% YoY). The company employs 11-50 staff and has scaled rapidly, reporting 433% year-over-year revenue growth in Q3 2025 and adding 300+ new operator partnerships in the same quarter. Active marketing channels include industry events (SiGMA, ICE, G2E, SBC Summits), 20+ affiliate/media partnerships (Casino.org, Bojoko, LCB, Gamblorium), and direct CEO engagement.

Name

Expanse Studio

Legal name

Expanse Studio

Website

https://expanse.studio

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Expanse Studio is a Malta-based B2B iGaming content provider developing 77+ proprietary HTML5 casino games — slots, table games, video poker, instant and branded titles — licensed to operators and aggregators across 1,519 distribution sites globally.

Ownership category

akta.pro rank

Product category

iGaming Software

NAICS

Other Gambling Industries (71329)

akta.pro primary industry

iGaming Platform Providers (Turnkey/Casino & Sportsbook Platforms) (MPAEAKAA)

akta.pro secondary industries

Online Casino Studios & Game Publishers (Slots, RNG, Live Dealer) (MPAEABAJ), Player-to-Player Marketplaces & Trading Platforms (MPAFAJAE), Web3/Blockchain Game Studios (MPAFAAAO)

Keywords

• Online casino games
• IGaming content provider
• HTML5 slot games
• Casino game developer
• Mobile casino software

Headquarters

HQ city

Valletta

HQ country

Malta

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. B2B Content Licensing: Expanse Studios generates revenue by licensing its proprietary iGaming content portfolio to casino operators and aggregation platforms. Revenue comes from content distribution agreements where operators integrate and offer Expanse's games to their players.
2. Promotional Tools Licensing: Revenue generated from licensing proprietary promotional tools (Bonus Bet, Time Free Spins, Bonus Game Trigger, tournaments, progressive jackpots) to casino operators for player acquisition and retention.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels5 records

Core offering

Expanse Studios is a B2B iGaming content provider that develops and licenses proprietary HTML5 casino games — including slots, roulette, table games, video poker, instant games, branded titles, and customizable promotional tools — to online casino operators and aggregation platforms. Its 77+ title portfolio is distributed via single-API integrations and direct operator agreements across regulated markets in Europe, Latin America, Africa, and North America, reaching over 1,300 operator brands and 1,519 distribution sites.

Product overview

Expanse Studios is a B2B iGaming content provider and casino game developer founded in 2017, producing a comprehensive portfolio of proprietary gaming products. The core offering includes over 77 slot titles (Wild Icy Fruits, Clown Fever Deluxe, Titan Roulette, Gates of Olympia, Pia, VASO Psycho), roulette games (Titan Roulette, Titan Roulette Deluxe), table games (Sic Bo), video poker (Diamond Joker Poker, Multihand Titan Poker, Mega Pixel Poker), turn-based strategy games, and lottery games (Instant Keno). The portfolio extends to branded games (celebrity partnerships like VASO Psycho with MMA fighter Vaso Bakocevic), seasonal/themed slots (Gates of Christmas, Panda World Wide), dice games (adaptations of popular slots), instant games (Magic Wheel, Stock Trade), and promotional tools (Bonus Bet, Time Free Spins, Bonus Game Trigger, free spins, multi-level progressive jackpots, tournaments). All products are developed using HTML5 technology with mobile-first design, featuring superior graphics, immersive animations, and engaging soundtracks. Games support multiple currencies and cryptocurrencies, available in 20+ languages, and distributed across over 1,300 operator brands and 1,519 distribution sites globally.

Differentiator

Problem solved

Functional benefit

Products and services

• Slots Portfolio Proprietary portfolio of 77+ HTML5 mobile-first slot titles developed for licensed online casino operators, featuring high-quality graphics, immersive animations, engaging gameplay mechanics, and an average 97% RTP.
• Roulette Games Table game category featuring Titan Roulette and Titan Roulette Deluxe with user-friendly layouts, simple chip-placing systems, and ball-drop design simulations, built on HTML5 for seamless cross-platform play.
• Table Games Classic casino table games including Sic Bo and various card game variants designed with HTML5 technology for seamless cross-platform play across mobile and desktop.
• Video Poker Games Modernized classic video poker titles including Diamond Joker Poker, Multihand Titan Poker, and Mega Pixel Poker, reinvented for digital players with enhanced winning chances and modern graphics.
• Instant Games

Quantifiable outcome

• 433% year-over-year revenue growth in Q3 2025
• +4 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Partnerships

25 partnerships are on record, tiered core, major and minor.

• MaxBetcoreChannel Partner/ Reseller/ Distributor · 2 June 2026Content distribution agreement with MaxBet, a Serbian omni-channel gaming operator and subsidiary of Flutter Entertainment, to distribute Expanse Studios' proprietary iGaming content portfolio in Serbia. The partnership is already live, giving access to MaxBet's estimated 15%-20% share of Serbia's online market projected to grow to $186 million by 2029.
• ESA GamingcoreChannel Partner/ Reseller/ Distributor · 27 February 2026Strategic partnership with ESA Gaming to expand European presence and enhance multi-jurisdictional distribution. The partnership facilitates content deployment across ESA Gaming's operator network in key European markets through their Game Aggregator System serving over 90 content providers, with certifications across Malta, Italy, Portugal, Greece, Colombia, and Brazil.
• Meridianbet.bemajorChannel Partner/ Reseller/ Distributor · 23 February 2026Launch of proprietary game portfolio on Meridianbet.be platform in Belgium following granting of B+ online gaming license. Strategic move to leverage Belgium's mature online gambling market and regulatory framework with over 60 titles now live.
• Lobbet/Fortuna Entertainment GroupmajorChannel Partner/ Reseller/ Distributor · 10 February 2026Igaming content partnership with Lobbet, operated by Fortuna Entertainment Group (FEG) in Montenegro, facilitated by DualSoft aggregation platform. Lobbet integrates Expanse Studios' online casino content as part of FEG's strategy for regulated market expansion across Europe.
• Brazino777majorChannel Partner/ Reseller/ Distributor · 5 February 2026Content distribution partnership with Brazino777, a major Brazilian online gaming operator, to integrate Expanse Studios casino games into Brazino777's platform. Agreement leverages Brazil's rapidly growing online gaming market projected to generate over $2.6 billion in revenue in 2026.
• Synot InteractivemajorChannel Partner/ Reseller/ Distributor · 5 January 2026Partnership with Synot Interactive to distribute Expanse Studios games to Olybet in multiple European markets, enabling Expanse content to be accessible at Olybet which operates across several European countries.
• Vegas.hrminorChannel Partner/ Reseller/ Distributor · 4 December 2025Content distribution agreement with Croatian online casino Vegas.hr to supply certified games, expanding presence in Croatia's regulated iGaming market following regulatory approvals.
• MerkurXtipmajorChannel Partner/ Reseller/ Distributor · 29 November 2025Content distribution deal with MerkurXtip, a Southeast European gaming operator, to expand presence in European markets. Deal involves integrating Expanse Studios' gaming titles into MerkurXtip's online and land-based network through the Bragg Gaming aggregation platform.
• Admiral BetmajorChannel Partner/ Reseller/ Distributor · 28 November 2025Strategic content distribution agreement with AdmiralBet, a member of the Novomatic Group, to expand European market presence. Partnership allows AdmiralBet to distribute Expanse Studios' proprietary gaming titles across its online platforms.
• Quantum GamingminorStrategic or Co-development Partner · 12 June 2023Strategic partnership with Quantum Gaming, a unique player in the iGaming industry focused on providing innovative gaming solutions. Collaboration for innovation in the gaming industry.
• Casino.orgmajorGTM or Marketing Partner · 30 May 2023Strategic partnership with Casino.org, a renowned casino review portal. The partnership merges Expanse Studios' gaming design with Casino.org's expertise in reviewing and guiding players, creating customized solutions for the global online casino market.
• KasinopartiominorGTM or Marketing Partner · 30 May 2023Partnership with Kasinopartio, a standout player in the Finnish casino review scene. The Finnish portal with over 20 years of experience provides casino players with valuable and comprehensive content including 750+ slot reviews and 250+ casino reviews.
• RealCasinosCanadaminorGTM or Marketing Partner · 26 April 2023Partnership with RealCasinosCanada.com (RCC), a leading independent online gaming authority providing enhanced gaming experience for Canadian players.
• LCB (Loose Cannon Brothers)minorGTM or Marketing Partner · 19 April 2023Partnership with award-winning casino portal LCB, a respected and comprehensive gambling information website online since 2006. CEO interview shared insights into Expanse Studios' unique approach to game development.
• BojokominorGTM or Marketing Partner · 10 April 2023Partnership with Bojoko, the award-winning casino affiliate site. Expanse Studios has a dedicated page on Bojoko where users can explore their innovative portfolio and vision.
• InbetmajorChannel Partner/ Reseller/ Distributor · 22 March 2023Partnership with Inbet, a Bulgarian sports betting and online casino provider. Collaboration significantly expands reach of Expanse Studios' game portfolio of 40+ HTML5 games to Inbet's extensive customer base, targeting SEE gaming markets.
• Crypto ListsminorGTM or Marketing Partner · 21 March 2023Partnership with Crypto Lists, a global casino review site dedicated to providing information about Bitcoin gambling sites and real money casinos. Partnership targets dynamic world of cryptocurrency gaming with crypto enthusiasts.
• GamblizardminorGTM or Marketing Partner · 7 March 2023Partnership with Gamblizard, an elite casino affiliate expert based in the UK. Partnership ramp up presence in highly regulated European markets, profiling Expanse Studios in Europe's most sophisticated and saturated markets.
• Cbet.mxmajorChannel Partner/ Reseller/ Distributor · 13 February 2023Partnership with Mexican-based operator Cbet, one of South America's leading online casino B2C operators. Cbet has strong market presence in Brazil and Mexico with LATAM team of over 500 creatives headquartered in Sao Paulo.
• Golden Matrix GroupcoreChannel Partner/ Reseller/ Distributor · 10 February 2023Partnership agreement with Golden Matrix Group, a developer and licensor of online gaming platforms with over 650 operators and 6.8 million registered users primarily in Asia-Pacific. The deal enables Expanse Studios games to reach Golden Matrix's extensive operator network, marking an important step for prominence in East Asia and the Pacific.
• SlotsjudgeminorGTM or Marketing Partner · 23 December 2022Partnership with Slotsjudge, the premier online casino game review platform. Integration allows Expanse Studios to showcase games to wider audience and provide players with in-depth reviews and ratings.
• SBbetminorChannel Partner/ Reseller/ Distributor · 20 September 2022Partnership with SBbet, one of Southeast Europe's leading sports betting operators. More than 30 in-house slot games including newest releases are now part of SBbet's casino offer.
• Blue Ocean GamingcoreChannel Partner/ Reseller/ Distributor · 8 March 2022Integration of Expanse Studios games portfolio with Blue Ocean Gaming's B2B platform provider and GameHub aggregation system, extending reach of games throughout multiple markets. Blue Ocean Gaming is an independent B2B online gambling software provider offering single API integration.
• EveryMatrixcoreChannel Partner/ Reseller/ Distributor · 1 January 2022Partnership with EveryMatrix, a B2B software provider offering modular and API-driven iGaming solutions to clients operating in regulated markets. EveryMatrix recognized Expanse Studios as additional value-added to their customer base.
• Meridian Gaming LTDcoreChannel Partner/ Reseller/ Distributor · 26 November 2021Cooperation with Meridian Gaming LTD from Malta, a company that has been organizing top casino content for over two decades. This partnership enables wider circle of players to access Expanse Studios casino games and represents breakthrough to the rest of Europe.

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Thunderkick: Independently-owned B2B slot studio producing HTML5 games for licensed casino operators via aggregator distribution. Similar scale and product focus to Expanse Studios, with comparable B2B content licensing revenue model.
• Play'n GO: Established B2B iGaming content provider producing slots and table games for licensed operators globally. Direct competitor in the slot and casino game category, with similar aggregator-integrated distribution and multi-jurisdictional licensing strategy.
• Yggdrasil Gaming: B2B iGaming content publisher producing slots and table games, distributed via its own aggregation platform and third-party aggregators. Comparable to Expanse Studios in product category and operator-licensing revenue model, with broader aggregator capability.
• Push Gaming: B2B slot game studio producing HTML5 mobile-first titles distributed through aggregator platforms to licensed casino operators. Comparable to Expanse in technology approach (HTML5, mobile-first), product category (slots), and distribution model (aggregator-led).
• Pragmatic Play: One of the largest B2B iGaming content providers, producing slots, live casino, and bingo distributed via aggregators to global operators. Direct competitor to Expanse Studios in the B2B slot content category with similar API-based distribution and operator-licensing model.
• ELK Studios: B2B slot content provider producing HTML5 mobile-first games for regulated casino operators in Europe and beyond. Comparable to Expanse in technology stack (HTML5, mobile-first), product category, and operator-licensing model.
• Relax Gaming: B2B iGaming content provider and aggregator producing slots, table games, and bingo for licensed operators. Comparable to Expanse in slot content licensing and operator-facing distribution, with additional aggregation services.
• Hacksaw Gaming: B2B iGaming content studio focused on slots and instant-win games, distributed through aggregators to casino operators. Highly comparable to Expanse Studios in scale, growth profile, product mix (slots + crash/instant games), and B2B licensing model.
• Nolimit City: B2B slot studio known for high-volatility, mechanic-driven slot content licensed to operators globally. Comparable to Expanse in product category and B2B distribution model; now owned by Evolution AB, which affects scale dynamics.

Broad incumbents

• Evolution AB: Publicly-traded global leader in iGaming content (live casino, slots via NetEnt/Red Tiger/Big Time Gaming/Nolimit City) with far larger scale and broader portfolio. Relevant incumbent for benchmarking Expanse's slot content strategy and aggregator-licensed distribution model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/StudiosExpanse
• LinkedInlinkedin.com/company/expanse-studios-malta
• Instagraminstagram.com/expansestudios
• Facebookfacebook.com/ExpanseS

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Expanse Studio