Meridian Holdings (MRDN) Achieves Profitability with $50.1M in Q1 2026 Revenue, Up 17% Year-Over-Year

(AsiaGameHub) –   Meridian Holdings, headquartered in Las Vegas, reports profitability on its first-quarter 2026 revenue of $50.1 million, a 17% increase year-over-year.

Meridian Holdings Inc. (NASDAQ: MRDN), an international gaming and technology group operating in over 20 regulated markets, has announced new record financial and operational results.

The Company reported first-quarter 2026 revenue of $50.1 million, representing a 17 percent increase from the same period last year. It also returned to profitability, achieving $2.3 million in net income, marking its first profitable quarter under the Meridian Holdings brand.

These results were released less than two months after the Company completed its rebrand and began trading under the new MRDN ticker on the NASDAQ Capital Market.

In addition to profitability, the quarter saw a significantly improved balance sheet. Total debt was reduced by more than half compared to the previous year. Net debt decreased by 62 percent to $13.4 million, and the Company concluded the quarter with $16.2 million in cash.

“This quarter represents a significant milestone in our growth trajectory,” stated William Scott, Chief Executive Officer of Meridian Holdings. “We achieved revenue in line with our projections, surpassed our profitability target, and continued to strengthen our balance sheet, all while expanding our presence in regulated markets and investing in proprietary technology. We are well-positioned for continued growth throughout 2026 and beyond.”

The primary contributor to the quarter’s performance is the company’s longest-standing business segment. Meridianbet, established in 2001 and now the Group’s main operating subsidiary, has spent the last twenty-five years cultivating one of the most recognized sports betting and gaming brands across Europe, Africa, and the Americas. The brand operates over 740 retail locations in addition to its online platforms and processes hundreds of thousands of bets daily in the markets where it holds licenses.

During the first quarter of 2026, Meridianbet generated $34.9 million in revenue, a 26 percent year-over-year increase, accounting for nearly 70 percent of the group’s total revenue. New customer registrations neared half a million in the quarter, a 41 percent increase compared to the same period last year, with active users growing by 21 percent to 333,700.

The remainder of the Group operates across various markets and employs different business models:

Expanse Studios, the Company’s iGaming content development division, expanded its operator network to 1,519 active sites during the quarter. It also secured new regulatory certifications in Latvia, Estonia, Sweden, and Portugal, and is continuing the certification process in Ontario, Canada.

RKings Competitions, a UK-based prize competitions business, reported sales of $7.7 million with improved per-customer economics.

Classics for a Cause, an Australian subscription-based digital membership and trade-promotion lottery service, saw its VIP subscriptions exceed 10,000 for the first time in 12 months.

Mexplay, the Group’s online casino and sportsbook targeting the Mexican market, more than tripled its new registrations year-over-year, reaching 74,000.

For the second quarter of 2026, the Company has projected revenue between $51 million and $53 million, which would represent year-over-year growth of 18 to 23 percent.

The global online gaming and sports betting sector continues to expand as more jurisdictions open up to regulated operators, creating a favorable environment for established, multi-market platforms with proprietary technology and licensed operations.

Meridian Holdings’ complete quarterly results, the earnings call replay, and supporting investor materials are accessible on the Company’s investor relations website at meridian-holdings.com/quarterly-results.