Meridian Holdings Inc. (NASDAQ: MRDN), an international developer, licensor, and operator of online gaming and e-commerce platforms, has provided an update on the Brazilian Provisional Measure signed by the President of Brazil on September 25, 2026, which 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 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. 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. Its exposure to the measure is limited as a result. The Company's 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.
Meridian Holdings Inc. (NASDAQ: MRDN), headquartered in Las Vegas, Nevada, is a B2B and B2C gaming technology group operating across over 25 international regulated markets. The Company's 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 Company's 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 announcement, initially reported by NEWMEDIAWIRE, underscores the regulatory uncertainties facing the online gaming industry in emerging markets. For investors, the news may alleviate concerns about potential revenue losses, as Meridian Holdings' proactive compliance and measured expansion strategy have minimized its exposure. The company's ability to navigate Brazil's evolving regulatory landscape without material disruption could serve as a model for other operators. However, the situation remains fluid, and the final outcome of the Provisional Measure will depend on Congressional approval. Meridian Holdings' forward-looking statements highlight various risks, including regulatory changes and licensing challenges, which are detailed in its filings with the SEC, available at www.sec.gov. As the Brazilian Congress deliberates, stakeholders will be watching closely to see if the measure becomes permanent and how it shapes the future of online betting in one of Latin America's largest markets.
