The global online betting and gaming market continues to expand strongly and boosted Meridian Holdings‘ financial balance at the beginning of the year.
The company, which operates in more than 20 regulated markets and is headquartered in Las Vegas, has just reported record results for the first quarter of 2026.
The company achieved revenue of US$50.1 million, which represents an increase of 17% compared to the same period last year.
More than making high profits, the group celebrated, above all, the return to profitability with a net profit of US$ 2.3 million, marking its first quarter in the black under the new corporate brand.
This result comes less than two months after the completion of the rebranding process and the start of trading of shares with the MRDN code on the NASDAQ stock exchange.
How Core Operations Boosted Meridian Holdings’ Balance Sheet
The main driver of this financial success is undoubtedly the group’s oldest operating subsidiary.
Meridianbet, founded in 2001, generated US$34.9 million in revenue, a 26% jump from the previous year, representing almost 70% of the company’s entire revenue.
The platform registered almost half a million new customers in the quarter (an increase of 41%) and saw the number of active users grow 21%, reaching 333,700 accounts.
Furthermore, the brand already operates more than 740 physical stores integrated with digital platforms in Europe, Africa and the Americas, processing hundreds of thousands of bets per day.
In addition to ensuring profit, the company improved the health of its financial statement.
Total debt fell by more than half in the annual comparison, net debt was reduced by 62% (reaching US$13.4 million) and the quarter ended with US$16.2 million in cash.
Assessing this entire corporate scenario, CEO William Scott detailed the market moment.
“This quarter represents an important milestone in our growth journey. We delivered revenue in line with our estimates, exceeded 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 sustained growth throughout 2026 and beyond,” said the executive.
The performance of other business fronts and projections for the year
The rest of the group covers different models around the world.
Content developer Expanse Studios expanded, for example, its network to 1,519 active sites and secured new certifications in countries such as Latvia, Estonia, Sweden and Portugal, in addition to advancing release in Ontario, Canada.
In the UK, RKings Competitions recorded $7.7 million in sales.
In Australia, the Classics for a Cause operation surpassed the 10,000 VIP subscription mark for the first time in a year.
In Mexico, the operator Mexplay tripled new registrations, reaching 74 thousand registrations.
Taking advantage of the global growth of the regulated sector, the company projects revenue between US$51 million and US$53 million for the second quarter of 2026.
This financial volume will represent, in short, a growth of 18% to 23% in the annual comparison.
Full results and a recording of the earnings call are now available on the company’s investor relations page.