Welcome to our dedicated page for Meridian Holdings news (Ticker: MRDN), a resource for investors and traders seeking the latest updates and insights on Meridian Holdings stock.
Meridian Holdings Inc. (NASDAQ: MRDN), formerly Golden Matrix Group, Inc. (NASDAQ: GMGI), generates a steady flow of news as an online gaming and iGaming technology company operating across multiple regulated markets. Based in Las Vegas, Nevada and listed on The NASDAQ Capital Market, the company reports on developments in its B2B platform business, B2C betting operations, acquisitions, and corporate governance through press releases and SEC-related disclosures. The company changed its corporate name and ticker symbol effective March 2026.
News about Meridian Holdings often highlights activity within its key subsidiaries and divisions. Meridianbet, a subsidiary and major segment of the group, features in announcements about licensing in new jurisdictions, product enhancements for online sports betting and gaming, and expansion of B2B operations in regulated markets. Expanse Studios, the company’s B2B iGaming content arm, appears in updates on new game launches, distribution partnerships, and certifications that enable it to supply proprietary slots, crash games, table games, and gamified casino experiences to operators worldwide.
Coverage of MRDN also includes items related to its proprietary GM-AG (Atlas) iGaming aggregator platform, which research summaries describe as offering access to a large catalog of games and incorporating AI-driven user learning and betting recommendation capabilities. Investors and industry followers can find news on platform enhancements, market entries, and the use of artificial intelligence to support user engagement and recurring revenue models.
Corporate and capital markets developments form another important category of Meridian Holdings news. Recent communications and Form 8-K filings have addressed leadership transitions, including the appointment of an Interim Chief Executive Officer, Board-level changes, share repurchase authorization, and acquisition-related consideration being settled in common stock. Earnings-related press releases referenced in Form 8-K filings provide updates on quarterly performance and the use of non-GAAP financial measures.
This news page for MRDN (formerly GMGI) brings together these items in one place, helping readers follow updates on licensing milestones, new products and content, strategic partnerships, governance changes, and financial communications as they are announced.
Golden Matrix Group (NASDAQ:GMGI) has announced a share repurchase program, authorizing up to $2.0 million to repurchase its common stock. The program, valid until September 29, 2023, aims to enhance shareholder value by mitigating market overhang and providing a tax-efficient capital return compared to cash dividends. Shares can be bought back on the open market or through negotiated transactions based on management's discretion and market conditions. Currently, there are 36,099,526 shares outstanding, with $15,423,897 in cash reserves. All repurchased shares will be retired.
Golden Matrix Group (GMGI) announced the acquisition of Meridianbet Group for approximately $300 million in cash and stock. Meridianbet has emerged as a top provider of sports betting options, offering extensive betting choices during NCAA March Madness in over 15 jurisdictions globally. The acquisition is anticipated to enhance GMGI's revenue and profitability, significantly expanding its global reach. The deal is expected to close in the first half of 2023, pending regulatory and shareholder approvals and necessary funding. Meridianbet operates in multiple markets, showcasing a successful business model and a strong operational presence.
Golden Matrix Group (NASDAQ:GMGI) reported Q1 2023 revenues of $10,777,679, a 21.4% increase year-over-year, but incurred a net loss of $443,521, compared to net income of $349,379 in Q1 2022. Adjusted EBITDA rose to $889,605, up from $729,266 in the same quarter last year. Despite a challenging economic backdrop, GMGI saw growth in its B2B and B2C segments, with 710 gaming operators and over 7.2 million registered users. The recent acquisition of RKingsCompetitions Ltd. has increased registered users to over 289,000. GMGI is also positioned for expansion through a pending $300 million acquisition of MeridianBet Group.
Golden Matrix Group (NASDAQ:GMGI) reported preliminary revenues exceeding $10.5 million for the first fiscal quarter ended January 31, 2023, marking a 19% increase from $8.88 million year-over-year and a 10% rise from the previous quarter's $9.57 million. CEO Brian Goodman highlighted strong performance in both its B2B and B2C segments, particularly the RKings platform, which awarded $4 million in prizes. RKings has grown its user base to 285,000 registered users. The company expects RKings to expand into new markets, starting with Mexico this year. Full financial results are anticipated in the upcoming 10-Q filing due by March 15, 2023.
Golden Matrix Group (NASDAQ: GMGI) reported impressive financial results for the fiscal year ended October 31, 2022, with revenues soaring to $36 million, a substantial 219% increase from $11.3 million the previous year. The company achieved an adjusted EBITDA exceeding $3.5 million. Cash and equivalents stood at $14.9 million, with total assets of $32.5 million and equity rising by 42% to $26.8 million. GMGI anticipates significant revenue generation from its new B2C segments and the planned acquisition of MeridianBet Group for approximately $300 million, expected to boost pro forma revenues to over $100 million for FY2022.
Golden Matrix Group (GMGI) has announced a definitive acquisition agreement to acquire MeridianBet Group for approximately $300 million in cash and stock. This acquisition will allow GMGI access to rapidly growing B2C markets across Europe, Africa, and Latin America, leveraging MeridianBet’s expertise and technology. The pro forma revenues of both companies are projected to exceed $100 million in FY2022, with EBITDA over $22 million. The deal is expected to close in H1 2023, pending regulatory approvals and shareholder consent.
Golden Matrix Group (NASDAQ: GMGI) has entered an Exclusive Distribution agreement with Elray Resources, enabling GMGI to supply gaming content to Elray's clients, including B2B Crypto Casino systems. This collaboration aligns with the booming global crypto gambling industry, projected to reach $93 billion by 2024. CEO Goodman expresses optimism about revenue generation from this partnership. Elray's proprietary technology will enhance GMGI's offerings, allowing for further growth in the expanding crypto casino market.
Golden Matrix Group (NASDAQ:GMGI) announced preliminary revenues exceeding $34 million for the fiscal year ending October 31, 2022, marking a 201% increase from $11.3 million in 2021. The company’s acquisition of an 80% stake in RKingsCompetitions contributed to this growth. The B2B segment showed a 30% revenue increase, servicing over 600 online casino brands with 6.8 million registered users. RKings awarded $14.5 million in prizes, attracting 261,000 tournament participants. Detailed financial results will be available in the upcoming Form 10-K.
Golden Matrix Group (NASDAQ: GMGI) announced the acquisition of the remaining 20% stake in RKings Competitions, Ltd., using 165,444 restricted shares as compensation. This move allows GMGI to fully control a scalable B2C business expected to grow in regulated markets, including Mexico. CEO Brian Goodman highlighted the potential expansion into Latin America and the launch of GMGI Assets, which aims to enhance revenue through auto tournament offerings. The acquisition is pending certain final requirements.
Golden Matrix Group (NASDAQ: GMGI) has acquired the remaining 20% interest in RKings Competitions, issuing 165,444 restricted shares to the former owners. CEO Brian Goodman anticipates rapid growth for RKings' B2C tournament platform, especially in the UK and expanding into Mexico and Latin America. The company has also launched GMGI Assets, aimed at enhancing revenue by reselling vehicles from tournament prizes. This integration is expected to contribute positively to GMGI's financial results as the number of tournaments grows.