Meridian Holdings Inc. (NASDAQ: MRDN) issued a press release on September 29, 2026, to provide an update 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. It also mandates 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 its adoption to remain in effect.
Meridian Holdings stated that Brazil represents an immaterial share of the Company’s Group revenue. The Company’s Meridianbet brand operates in Brazil through its subsidiary, Meridian Gaming Brasil SPE Ltda. This subsidiary holds authorization 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’s authorization in Brazil was granted until December 31, 2029. Meridian Holdings noted that it 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, which the Company states limits its exposure to the measure.
The Company is currently reviewing the Provisional Measure and its implications with its Brazilian and United States legal advisers.
