Meridian Holdings Inc., formerly known as Golden Matrix Group Inc., announced the commencement of trading of its common stock under the new ticker symbol "MRDN" on the Nasdaq Capital Market, effective March 3, 2026. The change follows the company's corporate rebranding and is implemented on a post-1-for-12 reverse stock split basis. In connection with the rebranding, the company's shares now trade with a new CUSIP number of 381098409. Additional details regarding the name change and reverse stock split are documented in the company's Current Report on Form 8-K filed with the Securities and Exchange Commission, accessible via https://www.sec.gov/edgar.shtml.
The reverse stock split reclassified every twelve shares of common stock held by stockholders into one new share. This action reduced the number of issued and outstanding shares from 151,692,749 to approximately 12,641,062 and decreased the authorized shares from 300,000,000 to 25,000,000. The company's board of directors approved the split under the Nevada Revised Statutes without requiring stockholder approval. Stockholders entitled to fractional shares will receive cash payments instead, based on the closing sale price of the common stock on the trading day immediately prior to the effective time as reported on Nasdaq.
This corporate action represents a significant structural shift for Meridian Holdings Inc., an international developer, licensor, and operator of online gaming and ecommerce platforms based in Las Vegas, Nevada. The rebranding from Golden Matrix Group Inc. to Meridian Holdings Inc. aligns with the company's established presence in both business-to-business and business-to-consumer gaming technology sectors. The company's B2C division, Meridianbet Group, operates as a leading online sports betting and gaming operator licensed in multiple jurisdictions across Europe, Africa, and South America. Further information about the company is available at http://www.ir.meridianbet.com.
The implications of this announcement are multifaceted for investors, the gaming industry, and financial markets. The reverse stock split often aims to increase the per-share trading price, which can enhance the stock's appeal to institutional investors and meet certain listing requirements. For existing shareholders, the consolidation reduces the number of shares held but increases the proportional ownership per share, while the cash-in-lieu provision for fractional shares provides liquidity. The corporate rebranding to Meridian Holdings Inc. under the new ticker MRDN may signal a strategic repositioning or consolidation of the company's diverse subsidiaries, which include game developer Expanse Studios, iGaming platform GMAG, RKings Competitions, Mexplay, and Classics for a Cause.
In the broader context, this move reflects ongoing trends in the gaming technology sector, where companies frequently restructure to streamline operations, improve market perception, and align with global regulatory frameworks. Meridian's emphasis on compliance, including software that automatically declines gaming requests from within the United States, underscores the importance of regulatory adherence in international markets. The commencement of trading under MRDN marks a new chapter for the company, potentially influencing its competitive positioning and investor relations strategies as it continues to operate across multiple continents. Market participants will likely monitor the stock's performance and corporate developments closely following this transition.
