Meridian Holdings Confirms Minimal Impact from Brazil's Online Betting Ban

Meridian Holdings Inc. (NASDAQ: MRDN), a Las Vegas-based international developer, licensor, and operator of online gaming and e-commerce platforms, has provided an update on a Brazilian Provisional Measure signed on September 25, 2026, by the President of Brazil. The measure prohibits the operation, intermediation, and advertising of online betting and online casino services in Brazil and requires that funds be returned to bettors. The measure is provisional and must be approved by the Brazilian Congress within 120 days to remain in effect. According to the company's announcement, which was distributed via NEWMEDIAWIRE, Brazil represents an immaterial share of Meridian Holdings' group revenue, and the company does not expect the measure to have a material impact on its operations or financial results.

Meridian Holdings' Meridianbet brand operates in Brazil through its subsidiary Meridian Gaming Brasil SPE Ltda, which holds authorisation SPA/MF nº 0086/2024, granted by Portaria SPA/MF nº 526 of March 14, 2025, for fixed-odds sports betting and online gaming. The company has been and continues to be fully compliant with the Provisional Measure and all applicable regulatory requirements in Brazil. Meridian Holdings entered the Brazilian market on a conservative basis and did not commit large-scale marketing expenditure in advance of licensing, which limits its exposure to the measure. Its authorization in Brazil was granted until December 31, 2029.

The company is reviewing the Provisional Measure and its implications with its Brazilian and United States legal advisers. Under Brazilian law, a Provisional Measure takes effect on publication in the Diario Oficial da Uniao and has immediate force of law. It is valid for 60 days and may be extended once for a further 60 days. The Brazilian Congress must approve it within that period, failing which it ceases to have effect. This regulatory development is significant for the online gaming industry, as Brazil is a large and growing market. However, Meridian Holdings' limited exposure highlights its disciplined approach to market entry. For investors and industry observers, the company's ability to navigate regulatory changes without material financial harm may reinforce confidence in its risk management and strategic planning.

Meridian Holdings Inc. is a B2B and B2C gaming technology group operating across over 25 international regulated markets. Its B2C division, led by Meridianbet Group, is an online sports betting and gaming operator founded in 2001 and licensed across Europe, Africa, and South America. The B2B division, comprising game developer Expanse Studios and iGaming platform GMAG, develops, licenses, and distributes proprietary gaming platforms and content to a global client base. For more information, visit www.meridian-holdings.com.

Forward-looking statements in the announcement note that management's expectations regarding the effect of the Provisional Measure on operations, revenue, and earnings are subject to various risks and uncertainties, including the ultimate legislative outcome. The company cautions that actual results may differ materially. Investors can review the company's publicly filed reports, including its Annual Report on Form 10-K and quarterly reports on Form 10-Q, which are available at www.sec.gov. The outcome of the Provisional Measure could set a precedent for online gaming regulation in other Latin American markets, making it a development worth monitoring for stakeholders across the industry.