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Meridian Holdings Inc. logo

Meridian Holdings Inc.

MRDN

NASDAQConsumer CyclicalGambling, Resorts & Casinos

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Regular session

$14.27

+$0.13 · +0.92%

Aug 24, 1:41 PM ET

MRDN company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

47

Fair Value

Momentum

77

Gaining

Sentiment

43

Mixed

Risk resilience

31

High Risk

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Thesis, catalysts, evidence, and risk analysis.

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AI-generated, informational only, and not investment advice.

Company profile

Company website

Meridian Holdings Inc. specializes in providing a diverse array of offerings within the casino, sportsbook, and competitive gaming industries. The company operates under several key brands, including R Kings Competitions, MexPlay, and GM-AG. Its operational structure is divided into two distinct divisions: Business-to-Business (B2B) and Business-to-Consumer (B2C). Through its B2B segment, Meridian generates income from software licensing fees and collects royalties derived from the utilization of third-party gaming content. Meanwhile, the B2C division primarily earns revenue by charging participants for entry into various prize competitions across the United Kingdom. This enterprise was established on June 4, 2008, by co-founders Weiting Feng and Anthony Brian Goodman, and its corporate headquarters are located in Las Vegas, Nevada.

Industry
Gambling, Resorts & Casinos
Sector
Consumer Cyclical
Headquarters
US
CEO
Zoran Milosevic
Listed since
Oct 30, 2009
Employees
1,200

Market position

Day range

Current $14.27

52-week range

Current $14.27

Open
$14.14
Previous close
$14.14
Volume
43.18K
0.62× average
Average volume
69.44K
Average daily volume
Market cap
180.39M USD
Beta
1.44
Market reference 1
50-day average
$13.6302
+4.69% above average
200-day average
$10.245
+39.29% above average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
-2.21×
P/B (TTM)
3.63×
P/S (TTM)
0.91×
Dividend yield
0.00%

Profitability & efficiency

Gross margin
55.72%
Operating margin
2.22%
Net margin
-41.41%

Financial health

Debt / equity
0.33×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends88%38%-12%-62%Gross margin, FY2021: 75.79%Gross margin, FY2022: 25.43%Gross margin, FY2023: 73.38%Gross margin, FY2024: 58.61%Gross margin, FY2025: 56.58%Operating margin, FY2021: 23.69%Operating margin, FY2022: 0.53%Operating margin, FY2023: 15.12%Operating margin, FY2024: 2.71%Operating margin, FY2025: -1.98%Net margin, FY2021: 21.32%Net margin, FY2022: -0.69%Net margin, FY2023: 14.73%Net margin, FY2024: -0.98%Net margin, FY2025: -49.16%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 75.79%. Gross margin FY2022 25.43%. Gross margin FY2023 73.38%. Gross margin FY2024 58.61%. Gross margin FY2025 56.58%. Operating margin FY2021 23.69%. Operating margin FY2022 0.53%. Operating margin FY2023 15.12%. Operating margin FY2024 2.71%. Operating margin FY2025 -1.98%. Net margin FY2021 21.32%. Net margin FY2022 -0.69%. Net margin FY2023 14.73%. Net margin FY2024 -0.98%. Net margin FY2025 -49.16%.

Income trends

Revenue

182.86M USD+21.01%

Operating income

−3.62M USD−7.73M USD

Net income

−89.9M USD-5973.16%
Income trends across reported periods210.14M USD101.04M USD−8.07M USD−117.17M USDRevenue, FY2021: 60.37M USDRevenue, FY2022: 36.03M USDRevenue, FY2023: 92.99M USDRevenue, FY2024: 151.12M USDRevenue, FY2025: 182.86M USDOperating income, FY2021: 14.3M USDOperating income, FY2022: 192.49K USDOperating income, FY2023: 14.06M USDOperating income, FY2024: 4.1M USDOperating income, FY2025: −3.62M USDNet income, FY2021: 12.87M USDNet income, FY2022: −250.04K USDNet income, FY2023: 13.7M USDNet income, FY2024: −1.48M USDNet income, FY2025: −89.9M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 60.37M USD. Revenue FY2022 36.03M USD. Revenue FY2023 92.99M USD. Revenue FY2024 151.12M USD. Revenue FY2025 182.86M USD. Operating income FY2021 14.3M USD. Operating income FY2022 192.49K USD. Operating income FY2023 14.06M USD. Operating income FY2024 4.1M USD. Operating income FY2025 −3.62M USD. Net income FY2021 12.87M USD. Net income FY2022 −250.04K USD. Net income FY2023 13.7M USD. Net income FY2024 −1.48M USD. Net income FY2025 −89.9M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue182.86M USD151.12M USD92.99M USD36.03M USD60.37M USD
Cost of goods sold79.41M USD62.54M USD24.75M USD26.87M USD14.62M USD
Gross profit103.46M USD88.57M USD68.24M USD9.16M USD45.75M USD
Research and development———23.09K USD199.65K USD
Selling, general, and administrative97.92M USD78.1M USD52.28M USD8.97M USD20.29M USD
Operating expenses107.08M USD84.47M USD54.18M USD8.97M USD31.45M USD
Interest income240.72K USD218.15K USD97.82K USD9.19K USD268 USD
Interest expense4.58M USD3.52M USD36.16K USD——
Depreciation and amortization15.15M USD10.79M USD5.42M USD407.44K USD3.86M USD
Operating income−3.62M USD4.1M USD14.06M USD192.49K USD14.3M USD
Net income−89.9M USD−1.48M USD13.7M USD−250.04K USD12.87M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
43%
3 beats, 4 misses, 0 met estimates
Average EPS surprise
-2615.39%
7 comparable reports
Latest EPS result
0.17
Estimate 0.17 · Miss by 1.45%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.76-2.05-4.86-7.67Q1 '25MissQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26MissQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 24, 2025: actual -0.03, estimate -0.005, surprise -500.00%, Miss. Q2 2025, reported May 8, 2025: actual -0.021, estimate -0.04, surprise +47.25%, Beat. Q3 2025, reported Aug 7, 2025: actual -0.36, estimate -0.04, surprise -800.00%, Miss. Q4 2025, reported Oct 30, 2025: actual 0.049, estimate -0.04, surprise +221.50%, Beat. Q1 2026, reported Mar 31, 2026: actual -7.09, estimate 0.04, surprise -17825.00%, Miss. Q2 2026, reported Apr 28, 2026: actual 0.18, estimate -0.04, surprise +550.00%, Beat. Q3 2026, reported Jul 29, 2026: actual 0.17, estimate 0.173, surprise -1.45%, Miss. Q4 2026, reported Oct 29, 2026: actual —, estimate 0.14, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates55.04M48.82M42.6M36.38MQ1 '25MissQ2 '25MissQ3 '25MissQ4 '25BeatQ1 '26MissQ2 '26MissQ3 '26MissQ4 '26Estimate
Q1 2025, reported Mar 24, 2025: actual 38.5M USD, estimate 43.12M USD, surprise -10.71%, Miss. Q2 2025, reported May 8, 2025: actual 42.72M USD, estimate 43.08M USD, surprise -0.82%, Miss. Q3 2025, reported Aug 7, 2025: actual 43.2M USD, estimate 46.44M USD, surprise -6.98%, Miss. Q4 2025, reported Oct 30, 2025: actual 47.3M USD, estimate 47.11M USD, surprise +0.41%, Beat. Q1 2026, reported Mar 31, 2026: actual 49.58M USD, estimate 52.92M USD, surprise -6.32%, Miss. Q2 2026, reported Apr 28, 2026: actual 50.1M USD, estimate 50.16M USD, surprise -0.11%, Miss. Q3 2026, reported Jul 29, 2026: actual 50.19M USD, estimate 50.2M USD, surprise -0.01%, Miss. Q4 2026, reported Oct 29, 2026: actual —, estimate 51.59M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$26.40

85.00% upside
Past 12 months12-month forecastHigh $36.00Average $26.40Low $21.60

MRDN news

seekingalpha.com

Meridian Holdings: The Market Still Sees The Acquisition, Not The Earnings Engine

Meridian Holdings has transitioned from an acquisition-driven story to a profitable, earnings-focused operation, with two consecutive quarters of profitability. MRDN's core Meridianbet segment is expanding faster than…

Read source
marketbeat.com

Meridian Q2 Earnings Call Highlights

Meridian NASDAQ: MRDN reported second-quarter revenue growth, a second consecutive quarter of GAAP profitability and continued debt reduction, while management said sportsbook margins were pressured by bettor-friendly…

Read source
globenewswire.com

UFC Names Meridian Holdings Official Sponsor of Fight Night Belgrade

First UFC Event Ever to Be Held in Serbia, Scheduled for August 1, 2026 at Belgrade Arena Meridianbet Leads the B2C Division of Meridian Holdings Inc. (NASDAQ: MRDN) BELGRADE, Serbia, July 18, 2026 (GLOBE NEWSWIRE) --…

Read source
globenewswire.com

UFC Names Meridianbet Official Partner of Fight Night Belgrade

First UFC Event Ever to Be Held in Serbia, Scheduled for August 1, 2026 at Belgrade Arena Meridianbet Leads the B2C Division of Meridian Holdings Inc. (NASDAQ: MRDN) BELGRADE, Serbia, July 17, 2026 (GLOBE NEWSWIRE) --…

Read source
globenewswire.com

Meridian Holdings Subsidiary Expanse Studios Signs Content Distribution Agreement with Flutter Subsidiary MaxBet for Serbian Market

LAS VEGAS, June 02, 2026 (GLOBE NEWSWIRE) -- Meridian Holdings Inc. (NASDAQ: MRDN) (“Meridian” or the “Company”), a global operator and technology provider in online sports betting and iGaming markets, today announced…

Read source
globenewswire.com

Meridian Holdings Announces Dejan “Pet” Petković, Brazilian Football Legend, as Global Brand Ambassador

Meridian Holdings (NASDAQ: MRDN) names Dejan "Pet" Petković, Brazilian football legend, as Global Brand Ambassador. Partnership includes launch of Pet TV.

Read source

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ETFs holding MRDN

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
493.12K
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$243.13-0.98%
iShares Micro-Cap ETF logoiShares Micro-Cap ETFIWC
Market value
104.14K
Weight
0.01%
AUM
1.53B USD
Expense ratio
0.60%
Price / 1D
$196.69-0.73%
Royce Quant Small-Cap Quality Value ETF logoRoyce Quant Small-Cap Quality Value ETFSQLV
Market value
45.55K
Weight
0.11%
AUM
—
Expense ratio
—
Price / 1D
$54.435-0.32%
ProShares - Ultra Russell2000 logoProShares - Ultra Russell2000UWM
Market value
14.14
Weight
0.00%
AUM
255.73M USD
Expense ratio
1.07%
Price / 1D
$65.32-1.54%
ProShares - UltraPro Russell2000 logoProShares - UltraPro Russell2000URTY
Market value
14.14
Weight
0.00%
AUM
340.71M USD
Expense ratio
1.08%
Price / 1D
$83.055-2.38%

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