Meridian Holdings Inc. (MRDN) has provided an update on its capital structure, highlighting significant debt reduction and a solid cash position. As of the financial period ended September 30, 2025, the company reduced total debt by 37% ($25.9 million) compared to prior periods, following the full prepayment of a promissory note in April 2025. This consistent strategy of debt retirement has strengthened the company's balance sheet.
According to the company's Form 10-Q and investor presentations, the net leverage ratio stood at 1.2x Adjusted EBITDA as of Q3 2025, indicating a conservative approach to leverage. The cash position remained robust at $22 million, providing liquidity to support ongoing investments in platform innovation and geographic expansion. These financial metrics reflect Meridian Holdings' focus on balance sheet rationalization and operational efficiency.
Meridian Holdings Inc., based in Las Vegas, Nevada, operates as a B2B and B2C gaming technology company with international reach. Its B2C division, Meridianbet Group, is a leading online sports betting and gaming operator founded in 2001, licensed in multiple jurisdictions across Europe, Africa, and South America. The B2B division includes game developer Expanse Studios and iGaming platform GMAG, which develop and license proprietary gaming platforms to global clients. Other subsidiaries include RKings Competitions, a UK-based raffle ticket business; Mexplay, a regulated online casino in Mexico; and Classics for a Cause, an Australian subscription-based digital memberships and trade promotion lotteries provider.
The company's financial improvement comes as it continues to expand its market presence. The reduction in debt and strong cash reserves position Meridian Holdings to pursue growth opportunities while maintaining financial stability. For more details, the full announcement is available here. Investors can also review the company's SEC filings for comprehensive financial information.
