Meridian Holdings Inc
goldenmatrix.comWhat Do They Do?
Operates online and retail sports betting and casino services for players, and provides gaming-content aggregation software to online gaming operators.
10-K for FY2025, filed Mar 31, 2026Following the completion of the MeridianBet Acquisition, MeridianBet became the Company’s primary operating platform and the principal…View ↗
The Company (i) operates online sports betting, online casino, and gaming operations in more than 15 jurisdictions across Europe, Africa…View ↗
The Company is a well-established brand and operator in the sports betting and gaming industry, spanning across over 15 markets in Europe…View ↗
The GM-Ag System is an integrated iGaming platform that connects licensed gaming content providers with licensed online gaming operators.…View ↗
How Do They Make Money?
MeridianBet Group accounts for 68% of revenue and earns net sports and casino betting results, commissions as events settle, and fees from completed games. Players also buy prize-competition tickets, Australian members pay for subscriptions over time, and gaming operators pay for third-party content based on actual use.
10-K for FY2025, filed Mar 31, 2026Revenues from sportsbook betting activities represent the net gain or loss from betting activities in the period plus (where material) the…View ↗
Revenue from the exchange sports betting product represents commission earned on betting activity and is recognized on the date the outcome…View ↗
Revenue from peer-to-peer games represents commission income (“rake”) and tournament fees earned from games completed by the period end and…View ↗
Revenues from prize competition ticket sales occur when control of the promised goods or services is transferred to customers, in an amount…View ↗
Revenues from VIP subscriptions are recognized over the subscription period on a straight-line basis, as the customer receives continuous…View ↗
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10-K for FY2025, filed Mar 31, 2026
FY2025 revenue by reportable segment ↗
$182.9M
-
10-K for FY2025, filed Mar 31, 2026
$182.9M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Total Segments
|
100% |
Total Segments, FY2025
$182.9M Sources
|
|
|
RKings & CFAC
|
24% |
RKings & CFAC, FY2025
$43.8M Sources
|
|
|
MeridianBet Group
Usage-based
10-K for FY2025, filed Mar 31, 2026 |
68% |
MeridianBet Group, FY2025
$124.6M Sources
|
Usage-based |
|
GMAG
Usage-based
|
7.9% |
GMAG, FY2025
$14.5M Sources
|
Usage-based |
Who Are Their Customers?
Online gaming operators access third-party game catalogs through one technical connection; UK participants buy prize-competition tickets, while Australian members subscribe for retailer discounts and promotional giveaways.
10-K for FY2025, filed Mar 31, 2026The GM-Ag System is an integrated iGaming platform that connects licensed gaming content providers with licensed online gaming operators.…View ↗
· First, the platform enables operators to access a broad portfolio of third-party gaming content providers through a single technical…View ↗
The Company generates revenues from sales of prize competitions tickets directly to customers in the UK, for prizes ranging from…View ↗
On August 16, 2024, the Company entered into a Share Exchange Agreement to acquire an 80% ownership interest in Classics Holdings Co. Pty…View ↗
The Company engages in competition operations in the United Kingdom via its subsidiary RKingsCompetitions Ltd., (“RKings”). The Company…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $92M in FY2025, but brought in more cash than it spent: $19.2M of free cash flow.
10-K for FY2025, filed Mar 31, 2026
−$96.2MView ↗
10-K for FY2025, filed Mar 31, 2026
−$92MView ↗
10-K for FY2025, filed Mar 31, 2026
$19.2MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Jul 29, 2026
$2MView ↗
- ▲ Now profitable
- vs −$3.7M in Q2 FY2025
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Jul 29, 2026
Zoran Milošević became CEO; William Scott became CFO
Rich Christensen left as CFO, while Scott remained chairman.
Sources
8-K, filed Jul 29, 2026
On July 29, 2026, Rich Christensen and Meridian Holdings Inc. (the “Company”, “we” and “us”) mutually agreed to accept Mr. Christensen’s…View ↗
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Jul 29, 2026
Company forecasts second-half revenue growth of 8% to 10%
The outlook is for constant-currency year-over-year revenue growth.
Sources
8-K, filed Jul 29, 2026
For the second half of 2026, the Company expects constant currency revenue growth of approximately 8% to 10% year-over-year. Consistent…View ↗
From software focus to gaming operations
The older report describes a software-technology focus, gaming software and a Mexican online casino; the latest describes MeridianBet as the primary operating platform, with betting and casino operations alongside software products.
10-K for FY2022, filed Jan 30, 2023 10-K for FY2025, filed Mar 31, 2026Following the completion of the MeridianBet Acquisition, MeridianBet became the Company’s primary operating platform and the principal…View ↗
The Company (i) operates online sports betting, online casino, and gaming operations in more than 15 jurisdictions across Europe, Africa…View ↗
A Provider of Enterprise Software-as-a-Service (“SaaS”) SolutionsView ↗
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