The American company under whose umbrella Meridianbet operates achieved revenue growth of 17 percent and exceeded official projections for the first quarter of 2026.
The American company Meridian Holdings Inc. (NASDAQ: MRDN), which operates Meridianbet — one of the oldest and most famous betting and gaming operators in Europe — has announced its operating results for the first quarter of 2026.
The company generated revenue of $50.1 million in the first three months of 2026, a 17 percent increase compared to the same period last year. Just a few weeks after the strategic rebranding, the company also announced a positive net result — a $2,3 million profit.
The company's shares are traded on the NASDAQ Capital Market under the ticker MRDN. They can also be traded from our region, through licensed brokerage platforms that provide access to the US capital market.
Results for the first quarter of 2026:
· Revenue: $50,1 million (+17% compared to Q1 2025)
· Net profit: 2,3 million dollars
· Adjusted EBITDA: $6,3 million (+26% growth, above the projection of $6,1 million)
· Gross profit: $28,1 million, with a gross margin rate of 56,2%
· Net debt reduction: 62% lower than the previous year — now $13,4 million
· Debt ratio: 0,53x — the lowest in the company's history
· Projection for Q2 2026: $51-53 million in revenue (further growth of 18-23%)
· Behind these figures is Meridianbet, which accounts for almost 70 percent of the total revenue of the Meridian Holdings group.
“The first quarter of 2026 demonstrates the scalability of our platform across multiple regulated markets. Our operating base is stronger than ever, and we continue to see significant potential through expansion into new markets and new products.” — Zoran Milošević, CEO of Meridianbet Group
A quarter of a century in business
Meridianbet has been operating since 2001 and over the past two and a half decades has built one of the largest operational networks in Southeastern Europe, South America and Africa. In addition to its online platforms, the company operates more than 740 retail outlets worldwide.
Global Portfolio
In addition to Meridianbet, the Meridian Holdings group brings together several brands that operate globally:
· Expanse Studios — an in-house iGaming development studio already operating in the US market. In the first quarter of 2026, it expanded its operator network to 1.519 active platforms, and secured new regulatory certifications in Latvia, Estonia, Sweden, and Portugal. Certification in the Canadian province of Ontario is in progress.
· RKings Competitions — a British sweepstakes operator that generated revenue of $7,7 million in the first quarter, up 12 percent.
· Classics for a Cause — an Australian loyalty and rewards program operator, which has surpassed 10.000 VIP subscribers for the first time in 12 months.
· Mexplay — betting and iGaming company from Mexico
· GMAG, an iGaming aggregator business operating in regulated markets in Asia
The strongest balance sheet position in the company's history
In addition to operational growth, Meridian Holdings has significantly strengthened its financial position. Total debt was reduced by 54% year-over-year, while net debt fell by 62%. The gearing ratio of 0,53x is the lowest in the company's history.
Entering the Brazilian market
Among international markets, Brazil stands out as one of the Holding's biggest long-term priorities. The company is present in Brazil through its operating company Meridian.
Gaming Brasil SPE LTDA, based in Sao Paulo, which holds a federal sports betting license.
Complete results, a recording of the conference call for investors, as well as investor materials are available on Meridian Holdings' official investor website: meridian-holdings.com/quarterly-results.
About the company
Meridian Holdings Inc. (NASDAQ: MRDN) is an international B2B and B2C gaming technology group, headquartered in Las Vegas, operating in more than 20 regulated markets worldwide. The group operates Meridianbet Group, founded in 2001, which is one of the leading operators of sports betting and casino games in Europe, Africa and South America. The company's shares are traded on the NASDAQ Capital Market under the ticker symbol MRDN.
More information is available at www.meridian-holdings.com.
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