Meridian Holdings Inc. (MRDN) reports that its name change from Golden Matrix Group, Inc. and its 1-for-12 reverse stock split became effective March 3, 2026. The split reduced authorized common shares from 300 million to 25 million and issued and outstanding common shares from 151.7 million to 12.6 million. As of March 31, 2026, common shares outstanding were 12,641,023. Holders who would otherwise have received fractional shares received cash in lieu, based on the common stock’s closing sale price on the prior trading day.
The company operates online sports betting, casino and gaming businesses in more than 15 jurisdictions, as well as gaming software, UK prize competitions and Australian trade promotions. It reports approximately 1,200 employees and approximately 740 company-owned or franchised betting shops. MeridianBet Group, acquired 100% on April 9, 2024, is identified as the principal operating platform and principal driver of consolidated revenue and strategic growth initiatives. Acquisition consideration included 6,845,154 restricted shares, $12 million in cash, 1,000 Series C preferred shares and $15 million in promissory notes.
Meridian Holdings Inc. is soliciting votes at its virtual annual meeting on November 17, 2026, at 12:00 p.m. Eastern Standard time. Stockholders will consider three director appointments by holders of all voting shares, two appointments reserved to Series C Preferred Stock holders, and ratification of M&K CPAS, PLLC as the independent registered public accounting firm for the fiscal year ending December 31, 2026. The Board recommends voting for all five nominees and the auditor.
As of the September 28, 2026 record date, 12,681,533 common shares and 1,000 Series C shares were outstanding; each Series C share carries 625 votes, and 13,306,533 voting shares were eligible. Aleksandar Milovanović, identified as a greater-than-5% stockholder, is reported as beneficially owning 8,198,097 total voting shares, or 61.6%. Series C holders may appoint two directors while the Board has at least five members and the Meridian Sellers collectively beneficially own more than 40% of common stock; the company states both conditions currently hold.
Meridian Holdings Inc. amended the MeridianBet acquisition agreement and its $15 million promissory notes. As of September 28, 2026, it had paid the sellers $10 million of 12-month consideration and $9,374,328 of 18-month consideration, in cash or stock. The remaining $625,672 is payable by November 1, 2031, or earlier at the company’s discretion, without interest. The notes are also due November 1, 2031, with no interest unless an event of default occurs; then principal accrues interest at the lesser of 12% annually and the maximum rate under applicable law. Monthly interest payments were removed.
On October 2, 2026, Zhe ‘Scott’ Yan became chief accounting officer, principal financial officer and principal accounting officer; William Scott ceased the latter two roles and remains president, chief financial officer, treasurer and board chair. Yan is expected to receive an annual salary of $280,000 Australian dollars. Company CEO Zoran Milošević’s annual base salary was reduced from $396,000 to $216,000, effective January 1, 2026; the amendment also removes a yearly 10% increase and the option to receive salary in company stock.
Meridian Holdings Inc. (MRDN) updated investors on Brazil’s September 25, 2026 Provisional Measure and said its exposure is limited. The company said Brazil represents an immaterial share of Group revenue and that it entered the market without large-scale marketing expenditure before licensing. The measure prohibits operation, intermediation and advertising of online betting and online casino services in Brazil, and requires funds to be returned to bettors.
The measure is expected to be subject to congressional approval within 120 days of adoption to remain in effect. Under Brazilian law, it takes effect on publication in the Diário Oficial da União, is valid for 60 days and may be extended once for a further 60 days; without congressional approval within that period, it ceases to have effect. Meridian Holdings said it has been and continues to be fully compliant with the measure and applicable Brazilian regulatory requirements, and is reviewing its implications with legal advisers. Its subsidiary Meridian Gaming Brasil SPE Ltda holds authorization for fixed-odds sports betting and online gaming through December 31, 2029.
Meridian Holdings Inc./NV (MRDN) received Amendment No. 11 to a Schedule 13D from Anthony Brian Goodman and Luxor Capital, LLC updating their ownership following recent sales. From August 14, 2026 through September 17, 2026, Mr. Goodman sold 245,445 shares of common stock in open market transactions.
As of September 17, 2026, Mr. Goodman beneficially owns 698,289 MRDN shares, or 5.51% of the common stock outstanding, including 290,873 shares held through Luxor. Luxor separately reports beneficial ownership of 290,873 shares, or 2.30%, based on 12,669,479 shares outstanding as of July 29, 2026. The filing states this is not an exit filing, as Mr. Goodman remains above 5%.
Meridian Holdings Inc./NV (MRDN) reported the initial insider status of Michael K. Prescott on a Form 3. Prescott has been appointed as a member of the Board of Directors effective July 29, 2026, and currently reports 0 shares of MRDN common stock held directly.
Meridian Holdings Inc. shareholder Anthony Brian Goodman, together with Luxor Capital, LLC, filed an amendment updating their beneficial ownership of the company’s common stock. The reporting persons disclosed aggregate beneficial ownership of 943,734 shares of common stock, representing 7.45% of the class, based on 12,669,479 shares outstanding as of July 29, 2026. Luxor Capital, LLC is reported to beneficially own 290,873 shares, or 2.22% of the class, all with shared voting and dispositive power. The amendment reports that from June 15, 2026 through August 13, 2026, the reporting persons sold 318,402 shares of common stock in open market transactions. The filing states that the securities are currently held for investment purposes, and that the reporting persons may increase or decrease their holdings in the future depending on market conditions and other factors, while indicating they have no present plans for corporate control or other major corporate actions.
Meridian Holdings appointed long-time Meridianbet leader Zoran Milošević as Chief Executive Officer of the parent company, while he continues as Meridianbet CEO. William Scott, previously Interim CEO, will become Chief Financial Officer and remain Chairman, focusing on financial reporting, capital allocation and investor engagement.
The Board also added Michael Prescott as an independent director and Audit Committee member, bringing global gaming, legal and regulatory experience. Current CFO Rich Christensen will leave the company. The Board states that this leadership structure is intended to enhance executive accountability, strengthen governance and support Meridian’s next phase of disciplined international growth.
Meridian Holdings reported strong second quarter 2026 results, with revenue up 16% year-over-year to $50.2 million. Net income attributable to MRDN was $2.2 million, or $0.17 per diluted share, marking a second consecutive quarter of GAAP profitability. Adjusted EBITDA rose 43% to $5.9 million, expanding margin to 11.8%. First-half 2026 revenue reached $100.3 million, up 17% and surpassing $100 million for the first time. Gross profit was $26.9 million with a 53.5% margin, reflecting lower sportsbook and casino hold and bettor-favorable World Cup results.
Operating cash flow was $7.8 million in the quarter, supporting continued deleveraging. Total debt declined to $26.7 million, with net debt down 65% year-over-year to $9.4 million and net debt leverage at 0.39x, the sixth straight quarter of balance sheet improvement. Meridianbet Group delivered $35.8 million of revenue, up 23% with strong customer growth, while Expanse Studios grew revenue 138%. RKings and Classics for a Cause generated $10.8 million of combined revenue, and GMAG contributed $3.6 million.
For the second half of 2026, the company expects constant currency revenue growth of approximately 8% to 10% year-over-year, with the fourth quarter anticipated to be the strongest period given major sporting events and holiday wagering.
Meridian Holdings Inc. reported markedly better results for the six months ended June 30, 2026. Revenue was $100,297,869, up from $85,968,421 in the prior-year period, and net income attributable to MRDN was $4,425,845 compared with a loss of $3,815,953. For Q2 2026, revenue totaled $50,193,999 and net income attributable to MRDN was $2,165,050.
Gross profit for the first half rose to $54,999,160 while selling, general and administrative expenses were $49,402,101, supporting operating income of $5,597,059 versus an operating loss a year earlier. Net cash provided by operating activities was $12,954,795, funding $4,182,414 of investing and $7,932,294 of financing outflows, with cash ending at $17,318,751. Total assets were $115,125,515, total liabilities $63,880,636 and total equity $51,244,879, reflecting the enlarged scale after the MeridianBet Acquisition and additional acquisitions in Australia and Malta.