Golden Palace Group

What Golden Palace Group does

Golden Palace Group is a family-owned Belgian gaming and entertainment company founded in 1963 by Mario Menegalli and now led by second-generation siblings Daniela and Massimo Menegalli (CEO). The group operates the largest Class B gaming-room network in Belgium (40+ rooms) under Belgian Gaming Commission licenses (B+ for online gaming, A+ for online casino games, F+ for sports betting), and is the first legal online gaming operator in Belgium (goldenpalace.be, 2012). Its product surface spans online casino, online sports betting (goldenpalacesports.be), online dice games (goldenpalacedice.be), five physical sports betting agencies, the first Belgian Live Casino studio (launched 2015, with bilingual French/Dutch Belgian presenters), and self-service betting terminals hosted inside bookshops. Distribution has been extended beyond gaming via the 2022 acquisition of Ubiway Retail, which added 175 Press Shop and Relay convenience stores across Belgium, and via a French casino rollout (Boulogne-sur-Mer since 2019, Noirétable, Thonon-les-Bains and Digne-les-Bains). Adjacent subsidiaries include GAA (gaming machine distribution), Immo Laeken (real estate), Golden Palace News (sports media), and Comedy Centrale Charleroi (entertainment venue).

The business model is primarily transaction-fee: gaming GGR from physical and online gaming, sports-betting margins (including the GoldenOdds boosted-odds product), ancillary food/beverage revenue at French casinos, retail revenue from the Press Shop/Relay estate, and real estate income from Immo Laeken. Pricing is not publicly disclosed and there is no subscription model — revenue is generated through game participation, betting margins, and retail sales. Customer segments are mass-market adult consumers (21+ in Belgium, 18+ in France), convenience-store shoppers, and sports organizations accessed through sponsorship relationships. Go-to-market is direct-to-consumer across physical venues and digital platforms, supplemented by sports-sponsorship-driven brand building (Cercle Brugge, RWDM Brussels, RAAL La Louvière, Alpecin-Premier Tech cycling) and event-driven engagement (slot and poker tournaments, live entertainment).

Technology stack is built around the proprietary goldenpalace.be platform, the in-house Live Casino streaming studio, the online sports-book product, and a single documented AI-based responsible-gaming anomaly detection system. Payments span Bancontact, Mastercard, Visa, Paysafe, PayPal, Skrill, Neteller, and Rapid Transfer. The group is privately held, headquartered in Brussels, employs roughly 600 people across all divisions, and is regulated by the Belgian Gaming Commission and founding member of BAGO (Belgian Association of Gaming Operators).

Name

Golden Palace Group

Legal name

BWC SRL

Website

https://goldenpalace.be

Company type

Private

Founded year

1963

Operating status

Operating

Headcount range

251–500 employees

Short description

Golden Palace Group is a family-owned Belgian gaming operator founded in 1963, running 40+ Class B gaming rooms, three online platforms, and 175 convenience stores across Belgium, plus four French casinos and sports-sponsorship-driven brand marketing under Menegalli family leadership.

Ownership category

akta.pro rank

Product category

Casino and Sports Betting

NAICS

Amusement Arcades (71312), Casinos (except Casino Hotels) (71321), Amusement Parks and Arcades (7131)

SIC

Services-Amusement & Recreation Services (7900), Retail-Hobby, Toy & Game Shops (5945)

akta.pro industry

PRIMARYMPAEAJAC

Electronic Table Games (ETGs) & Stadium Gaming

Media, Entertainment & Sports/Gambling, Betting & Casinos/Gaming Machines & Amusement Gaming (Slots, VLTs, Arcades)

SECONDARYMPAEABAJ

Online Casino Studios & Game Publishers (Slots, RNG, Live Dealer)

Media, Entertainment & Sports/Gambling, Betting & Casinos/Online Casinos (iCasino)

SECONDARYMPAEACAN

Sportsbook Retail Technology (Terminals, POS, Self-Service Betting)

Media, Entertainment & Sports/Gambling, Betting & Casinos/Sports Betting (Retail & Online)

Keywords

• Online casino gaming
• Sports betting services
• Land-based gaming rooms
• Convenience retail stores
• Responsible gambling

Headquarters

HQ city

Brussels

HQ country

Belgium

HQ region

Europe

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Class B Gaming Rooms (Belgium): Revenue from 40+ gaming rooms across Belgium offering electronic roulette, slot machines, and other casino-style games. Age requirement: 21+. No alcohol served. Operated under Class B gaming licenses from the Belgian Gaming Commission.
2. Online Casino (B+ and A+ licenses): Online gaming via www.goldenpalace.be, the first legal operator to obtain an operating licence in Belgium (B+ license for gaming, later expanded with A+ license for casino games). Revenue generated from player deposits and game participation fees. Self-registration with identity verification required. Age: 21+.
3. Sports Betting (Online and Retail): Sports betting offered via goldenpalacesports.be (online, F+ license) and 5 physical betting agencies (St-Ghislain, Aubange, Pecq, Wavre, Ostend). Also available via betting terminals in bookshops. Revenue from betting margins on sports, eSports, and live events. GoldenOdds boosted odds are a key differentiator.
4. Casinos in France: Two casinos in France (Boulogne-sur-Mer since 2019, Noirétable) offering 87 live and electronic games, slot machines, mechanical and electronic reels, electronic roulette, video poker. Includes themed restaurants and events rooms. Age: 18+. Revenue from gaming floor and ancillary food/beverage/services.
5. Convenience Store Retail (Press Shop & Relay): Acquired in 2022 via acquisition of Ubiway Retail. 175 bookstores/Press Shop and Relay outlets across Belgium generate retail revenue from press, convenience goods, and related products.
6. Real Estate: The Group has developed a Real Estate division (Immo Laeken) enabling it to pursue its diversity strategy while remaining in a reliable field. Revenue from property management and development.

Go-to-market motion2 records

Distribution channels8 records

Marketing channels8 records

Core offering

Golden Palace Group operates legal online and land-based casino gaming, sports betting, and live dealer gaming in Belgium and France, holding B+, A+, and F+ licenses from the Belgian Gaming Commission. It runs 40+ Class B gaming rooms across Belgium, 5 physical sports betting agencies, online platforms (goldenpalace.be, goldenpalacesports.be, goldenpalacedice.be), and 2 casinos in France, supplemented by a 175-store Press Shop & Relay convenience retail network acquired in 2022.

Differentiator

Problem solved

Functional benefit

Brands

• GAA: General Automatic Amusement - distribution of gaming machines and accessories
• Press Shop & More
• Golden Palace News
• Golden Palace Live Casino
• GoldenOdds

Products and services

• Online Casino (goldenpalace.be) Online casino platform licensed by the Belgian Gaming Commission (B+ for gaming, A+ for casino games) offering blackjack, roulette, poker, slot games, dice games, and Live Dealer tables. Targeted at adults aged 21+ in Belgium who pass online identity verification.
• Online Sports Betting (goldenpalacesports.be) Officially licensed online sports betting platform (F+ license) covering football, darts, basketball, tennis, cycling, volleyball, ice hockey, American football, snooker, MMA, and eSports. Accessible on smartphone without download and targeted at Belgian adult consumers (21+). Differentiated by GoldenOdds boosted odds promotions.
• Online Dice and Casino Games (goldenpalacedice.be)

Quantifiable outcome

• First legal online gaming operator in Belgium
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability2 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Alpecin-Premier TechcoreGTM or Marketing Partner · 1 January 2026Since January 1, 2026, Golden Palace Group is Official Partner of Alpecin-Premier Tech WorldTour and Alpecin-Premier Tech Development Team cycling. This partnership is based on shared values of performance, boldness, and team spirit, and is part of a sustainable vision for high-level sport.
• La Cité JoyeuseminorOthers · 1 January 2025Since early 2025, Golden Palace partners with La Cité Joyeuse, a 100% Brussels-based association helping young people in need. The partnership was facilitated by RWDM Brussels, an iconic club and longtime supporter of the non-profit. Golden Palace and RWDM renovated a dormitory for La Cité Joyeuse's young residents.
• Cercle Brugge KSVcoreGTM or Marketing Partner · 1 July 2023Golden Palace is the principal partner of Cercle Brugge KSV in a privileged partnership spanning 4 seasons of the Belgian Pro League (from July 1, 2023). Golden Palace dedicates itself to Cercle's sporting and social ambitions, supporting both the club's competitive and community objectives.
• Les Étoiles Radio ContactminorOthers · 1 January 2023Les Étoiles is a charitable initiative by David Antoine with Radio Contact (RTL Belgium), raising funds for the Pêcheur de Lune association helping placed, sick, or abandoned children in French-speaking Belgium. Since 2023, Golden Palace Group is a privileged partner, reselling stars in its establishments and donating proceeds to the association. Over €1 million was raised in the 2025 edition.
• RAAL La LouvièrecoreGTM or Marketing Partner · 1 August 2022Golden Palace has been a sponsor of RAAL (Royale Association Athlétique Louviéroise) since mid-August 2022. After three seasons, the partnership was renewed for three more seasons to support the Wolves' return to the Jupiler Pro League (D1A) and the She-Wolves women's team.
• RWDM BrusselscoreGTM or Marketing Partner · 1 July 2022Golden Palace is a privileged partner of RWDM Brussels since July 1, 2022. After supporting the club's promotion to the Jupiler Pro League in 2023, Golden Palace continues to support RWDM in the Challenger Pro League for the 2025-2026 season. The partnership also facilitated a connection with La Cité Joyeuse, a Brussels-based youth charity.
• Charlemagne RallyminorGTM or Marketing Partner · 1 January 2014Golden Palace has been the main sponsor of the Charlemagne & VHC VHRS National Rally since 2014. The rally is organized by ASA 59 Hautmont and Genesis Sport, league of Hauts de France.
• Les Restos du Cœur de LaekenminorOthersGolden Palace collaborates with Les Restos du Cœur de Laeken by donating unsold food from its gaming rooms and delivering food boxes for the end-of-year Shoe-box charity operation. In 2022, the company also donated funds raised during its CSR Month of Sports event (€6,805).
• BAGO (Belgian Association of Gaming Operators)coreStrategic or Co-development PartnerGolden Palace is an active and founding member of BAGO, which encompasses the 5 largest enterprises in the Belgian private gaming sector. BAGO's missions include pioneering safe and responsible gaming, preserving the economic viability of the private gaming sector, maintaining attractiveness versus illegal gambling, and serving as an interlocutor for public authorities. BAGO members funded university research on responsible gambling behavior under Prof. Xavier Noël (ULB).
• Belgian Gaming CommissioncoreOthersGolden Palace is regulated by the Belgian Gaming Commission. The Group holds B+ (online gaming), F+ (sports betting), and A+ (casino games) licenses. The Group is also a founding member of BAGO, the industry association that works with regulatory authorities.
• Ubiway Retail (Press Shop & Relay)coreChannel Partner/ Reseller/ DistributorGolden Palace acquired Ubiway Retail, owner of the Press Shop and Relay bookstore networks, in 2022. This acquisition entered the convenience store market with 175 bookstores across Belgium, integrated into Golden Palace's distribution network.

Scale indicators8 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• Bingoal: Belgian-licensed sportsbook and gaming operator competing head-to-head with Golden Palace Sports in the F+ market and overlapping on online casino and retail betting points in Belgium.
• Napoleon Games: Belgian online and land-based gaming operator with a B+ license and a network of gaming arcades, offering sports betting and casino products to the same adult Belgian customer base as Golden Palace.
• Circus (Gaming1): Belgian gaming brand of Gaming1 combining online casino and sports betting with land-based arcades and partner venues, directly competing with Golden Palace across both Belgian online and offline channels.

Broad incumbents

• Casinos Austria: European land-based and online casino group with multi-jurisdiction gaming operations, broadly comparable to Golden Palace in combining physical venues with regulated digital play.
• Kindred Group (Unibet): Large European online gaming operator running the Unibet brand, which holds Belgian licenses and competes with Golden Palace's online casino and sportsbook while serving pan-European markets far beyond Belgium.
• Betsson: European online gaming operator with sportsbook and casino products that overlaps with Golden Palace's digital offering in Belgium and other regulated EU markets.

Emerging players

• Betway: Global online sportsbook and casino brand active in multiple EU regulated markets; competes with Golden Palace's online sports betting offering rather than its land-based gaming rooms.

Regional players

• JOA Group: French regional casino operator with a network of mid-sized gaming venues, structurally similar to Golden Palace's French growth plan targeting provincial French towns.
• Partouche Group: One of France's largest casino operators, directly comparable to Golden Palace's French land-based casino expansion (Boulogne-sur-Mer, Noirétable, Thonon-les-Bains, Digne-les-Bains) in format and customer.
• Groupe Barrière: Major French casino and hospitality group operating integrated casino-resort venues comparable to Golden Palace's French casino-plus-restaurant-plus-events format.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/GoldenPalaceSports
• LinkedInlinkedin.com/company/golden-palace-casinos
• Instagraminstagram.com/goldenpalacesports
• Xx.com/goldenpalacebe

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries7 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 Golden Palace Group