Meridian Holdings expects Brazil’s latest restrictions on online betting to have a limited effect on the group, with the company saying the country currently represents an immaterial share of its overall revenue.
The company issued the update after Brazilian President Luiz Inácio Lula da Silva signed a Provisional Measure on 25 September 2026 covering online betting and casino services. The measure prohibits the operation, intermediation and advertising of online betting and online casino services in Brazil, while also requiring funds to be returned to bettors.
For Meridian, the immediate financial exposure appears constrained by the relatively early stage of its Brazilian operations. The company operates in the country through Meridian Gaming Brasil SPE Ltda, which holds authorisation for fixed-odds sports betting and online gaming. That authorisation was granted in March 2025 and is currently valid through 31 December 2029.
Meridian Holdings said it entered Brazil on a conservative basis and did not commit large-scale marketing expenditure ahead of obtaining its licence. This approach means the company has less capital tied to the market than it might have had if it had pursued a more aggressive customer acquisition strategy.
The company also said it has been and remains compliant with the provisional measure and applicable Brazilian regulatory requirements. Management is reviewing the measure and its implications with legal advisers in Brazil and the United States.
Meridian Holdings plc (formally Golden Matrix Group, Inc.) (Nasdaq:MRDN) positions itself as a leader in the iGaming technology space, offering casino, sportsbook, and competition products and combining cutting-edge solutions with a strong portfolio of partnerships to drive growth and innovation in the digital gaming market.
