Meridian Holdings Inc. (NASDAQ:MRDN) is strengthening the international profile of its Meridianbet brand through a new partnership with UFC Fight Night Serbia, according to the latest research note from Zacks Small-Cap Research.
Meridianbet has been named the Official Partner of UFC Fight Night Serbia, the first Ultimate Fighting Championship event to be held in the country. The event is scheduled for 1 August 2026 at Belgrade Arena, with Meridianbet acting as the exclusive sponsor in the sports-betting category.
The partnership will give Meridianbet extensive exposure during the event. Its branding will appear inside the Octagon, across official promotional materials, on fight posters and round cards, and in a commercial shown inside the arena. The agreement also includes digital and social media promotion through UFC’s marketing channels.
The event is expected to reach an international audience through UFC’s broadcast partners, including a live broadcast in the United States on Paramount+. Meridian Holdings described the agreement as Meridianbet’s highest-profile association with a global sports brand to date.
Research Analyst M. Marin said: “Reflecting what we see as its growing traction, Meridianbet new customer registrations grew 41% in 1Q26 compared to 1Q25.”
Key Highlights
- Meridianbet has become the Official Partner of UFC Fight Night Serbia.
- The event will be the first UFC event staged in Serbia.
- Meridianbet will be the exclusive sponsor in the sports-betting category.
- Branding will appear inside the Octagon and across UFC promotional materials.
- The event will receive international distribution, including live US coverage on Paramount+.
- Meridianbet new customer registrations increased by 41% year on year in the first quarter of 2026.
- Zacks values Meridian Holdings shares at $16.20, compared with a price of $13.52 on 20 July 2026.
- Zacks forecasts 2026 revenue of approximately $206.4 million.
Supporting Meridianbet’s Expansion Strategy
The sponsorship comes as Meridian Holdings continues to develop both its business-to-business and business-to-consumer operations. Meridianbet is the largest contributor to the group’s consolidated revenue and has operated in Serbia continuously since it was founded there in 2001.
The company has previously used sports partnerships and recognised sporting personalities to increase awareness of its brands. Meridian recently appointed Serbian-born former footballer Dejan Petković as a Global Brand Ambassador, supporting promotional activity in markets including Brazil.
According to Zacks, Meridian views these relationships as a strategic and cost-effective way to reach existing and prospective customers. The UFC partnership builds on Meridianbet’s previous involvement in combat sports while providing access to a much broader international audience.
The research note states that UFC stages more than 40 live events each year, which are distributed to an estimated one billion broadcast and digital households across 210 countries and territories.
Expanse Studios Broadens Its Distribution
Meridian Holdings is also extending the reach of its business-to-business gaming content subsidiary, Expanse Studios.
Expanse recently signed a distribution agreement with MaxBet, a Serbian gaming operator owned by Flutter Entertainment. Its titles have already been integrated into MaxBet’s platform and are available to customers.
Expanse has developed more than 70 proprietary titles and supplies content to over 1,500 casino brands across Europe, Latin America and North America. Its games include slots, crash games, card games and turn-based strategy products.
The MaxBet agreement expands Expanse’s access to the Serbian market. Meridian estimates that online gambling revenue in Serbia could reach $186 million by 2029, while MaxBet is estimated to hold between 15% and 20% of the country’s online market.
Revenue Growth and Financial Position
Meridian Holdings generated first-quarter 2026 revenue of $50.1 million, compared with approximately $42.7 million in the corresponding period of 2025.
The company has guided for second-quarter revenue of between $51 million and $53 million. This would represent anticipated year-on-year growth of between 18% and 23% compared with second-quarter 2025 revenue of $43.2 million.
Zacks forecasts full-year 2026 revenue of approximately $206.4 million, up from $182.9 million in 2025. The analyst also forecasts net income attributable to Meridian Holdings of around $4.4 million and earnings per share of $0.33 for 2026.
The group has also reduced its borrowings. Net debt fell by 62% year on year to $13.5 million at the end of the first quarter, while cash stood at $16.2 million. Net debt leverage was 0.53 times annualised adjusted EBITDA, down from around 1.5 times at the end of the first half of 2025.
Zacks Valuation and Risk Assessment
Zacks applies a valuation of $16.20 per share, compared with Meridian Holdings’ price of $13.52 on 20 July 2026. The valuation is based on approximately two times the analyst’s 2026 revenue forecast, followed by a risk adjustment of around 50%.
The broker classifies Meridian as a high-risk, small-growth stock. Risks identified in the note include competition, regulatory change, technology developments, foreign exchange exposure, possible funding requirements and the potential for slower-than-expected market share gains.
Zacks Small-Cap Research has received compensation for providing non-investment banking services to Meridian Holdings, including the preparation of research.
Final Thoughts
Meridian Holdings is combining sports-led brand promotion with broader geographic and product expansion. The UFC Fight Night Serbia partnership could raise Meridianbet’s international visibility, while Expanse Studios continues to extend its distribution through agreements with established operators.
Growth in customer registrations, double-digit second-quarter revenue guidance and lower net debt provide evidence of operating progress. However, the company remains exposed to the commercial and regulatory risks associated with international gaming markets, and Zacks continues to classify the shares as high risk.
