Meridian Holdings reported that total debt fell by 37% through the third quarter of 2025, a reduction of approximately $25.9 million. Management framed the move as part of a broader effort to strengthen the balance sheet after a period of expansion that reshaped the business.
One of the most significant steps in the process was the early repayment of a $7.2 million senior secured promissory note previously held by Lind Global Asset Management. The repayment was made in April 2025 using cash on hand and did not involve issuing new shares.
The company reported a net leverage ratio of around 1.2 times adjusted EBITDA as of the third quarter of 2025.
Meridian Holdings also reported approximately $22 million in cash at the same reporting point. Management indicated that the stronger liquidity position provides flexibility to support operations and strategic initiatives as the company moves beyond its integration phase.
Alongside the balance sheet changes, the company completed a corporate rebrand in March 2026. It adopted the Meridian Holdings name and began trading under the Nasdaq ticker MRDN.
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.
