Meridian Holdings Inc. (NASDAQ: MRDN), an international developer, licensor, and operator of online gaming and e-commerce platforms, provided an update on September 29, 2026, regarding a Provisional Measure signed by the President of Brazil on September 25, 2026. 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. As a provisional measure, it is expected to be subject to approval by the Brazilian Congress within 120 days of adoption to remain in effect.
According to the company, Brazil represents an immaterial share of Meridian Holdings' group revenue. The company's 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 the operation of fixed-odds sports betting and online gaming. Meridian Holdings has been, and continues to be, fully compliant with the Provisional Measure and all applicable regulatory requirements in Brazil.
The company entered the Brazilian market on a conservative basis and did not commit large-scale marketing expenditure in advance of licensing. As a result, its exposure to the measure is limited. The company's authorization in Brazil was granted until December 31, 2029. Meridian Holdings 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.
The announcement matters because it clarifies the potential financial impact on Meridian Holdings, a publicly traded company, and highlights the regulatory risks in the online gaming industry. Investors and industry observers may take note that the company's conservative approach in Brazil has mitigated significant losses. The news also underscores the evolving legal landscape for online betting in Latin America's largest market, which could influence other operators' strategies.
Meridian Holdings Inc. is headquartered in Las Vegas, Nevada, and operates as a B2B and B2C gaming technology group across over 25 international regulated markets. Its B2C division is led by Meridianbet Group, 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. The company's public filings are available at www.sec.gov.
