Meridian Holdings (MRDN)
Market Price (11/9/2026): $8.8 | Market Cap: $111.6 MilSector: Consumer Discretionary | Industry: Casinos & Gaming
Meridian Holdings (MRDN)
Market Price (11/9/2026): $8.8Market Cap: $111.6 MilSector: Consumer DiscretionaryIndustry: Casinos & Gaming
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 14% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% Attractive yieldFCF Yield is 19% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Digital Payments, Online Banking & Lending, and Wealth Management Technology. | Weak multi-year price returns2Y Excs Rtn is -100%, 3Y Excs Rtn is -146% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -78% Key risksMRDN key risks include [1] navigating complex and evolving regulations across its diverse operational markets in Europe, Show more. |
| Strong revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is 14% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Attractive yieldFCF Yield is 19% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Digital Payments, Online Banking & Lending, and Wealth Management Technology. |
| Weak multi-year price returns2Y Excs Rtn is -100%, 3Y Excs Rtn is -146% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -78% |
| Key risksMRDN key risks include [1] navigating complex and evolving regulations across its diverse operational markets in Europe, Show more. |
Qualitative Assessment
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Updated on 11/5/2026
Meridian Holdings (MRDN) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. Fiscal Q2 2026 Revenue Miss and Margin Concerns.
Following its fiscal Q2 2026 earnings report on July 29, 2026, Meridian Holdings' shares declined sharply by approximately 20% in the subsequent weeks. This occurred despite beating earnings per share (EPS) estimates, reporting $0.17 against a $0.14 consensus. The negative market reaction was primarily driven by a revenue miss, with reported revenue of $50.2 million falling short of the approximately $52.4 million consensus, and concerns over softer gross margins due to higher gaming taxes and software fees.
2. Analyst Downgrade and Bearish Sentiment.
Analyst sentiment shifted negatively in fiscal Q3 2026, with Weiss Ratings downgrading Meridian from a "sell (d-)" to a "sell (e+)" rating on September 28, 2026. This downgrade reinforced a broader "Sell" consensus among analysts, who maintained a price target of $21.60, signaling a challenging outlook for the stock.
Show more
Meridian Holdings (MRDN) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. Fiscal Q2 2026 Revenue Miss and Margin Concerns.
Following its fiscal Q2 2026 earnings report on July 29, 2026, Meridian Holdings' shares declined sharply by approximately 20% in the subsequent weeks. This occurred despite beating earnings per share (EPS) estimates, reporting $0.17 against a $0.14 consensus. The negative market reaction was primarily driven by a revenue miss, with reported revenue of $50.2 million falling short of the approximately $52.4 million consensus, and concerns over softer gross margins due to higher gaming taxes and software fees.
2. Analyst Downgrade and Bearish Sentiment.
Analyst sentiment shifted negatively in fiscal Q3 2026, with Weiss Ratings downgrading Meridian from a "sell (d-)" to a "sell (e+)" rating on September 28, 2026. This downgrade reinforced a broader "Sell" consensus among analysts, who maintained a price target of $21.60, signaling a challenging outlook for the stock.
Show more
Updated on 11/5/2026
Meridian Holdings (MRDN) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. Fiscal Q2 2026 Revenue Miss and Margin Concerns.
Following its fiscal Q2 2026 earnings report on July 29, 2026, Meridian Holdings' shares declined sharply by approximately 20% in the subsequent weeks. This occurred despite beating earnings per share (EPS) estimates, reporting $0.17 against a $0.14 consensus. The negative market reaction was primarily driven by a revenue miss, with reported revenue of $50.2 million falling short of the approximately $52.4 million consensus, and concerns over softer gross margins due to higher gaming taxes and software fees.
2. Analyst Downgrade and Bearish Sentiment.
Analyst sentiment shifted negatively in fiscal Q3 2026, with Weiss Ratings downgrading Meridian from a "sell (d-)" to a "sell (e+)" rating on September 28, 2026. This downgrade reinforced a broader "Sell" consensus among analysts, who maintained a price target of $21.60, signaling a challenging outlook for the stock.
3. Negative Technical Indicators.
Key technical indicators signaled a downward trend for MRDN during fiscal Q3 and early Q4 2026. The Momentum Indicator turned negative on September 24, 2026, and the 10-day moving average crossed bearishly below the 50-day moving average on September 29, 2026. Additionally, the Moving Average Convergence Divergence Histogram (MACD) turned negative on October 22, 2026, collectively suggesting a sustained bearish technical outlook.
4. Regulatory Uncertainty in Brazil.
Concerns over a 60-day ban on online gambling by the Brazilian government contributed to a roughly 20% stock price decline in October 2026. Although Meridian Holdings stated this would have minimal impact as Brazil was a new emerging market for the company, the regulatory uncertainty in one of its operating regions negatively affected investor sentiment.
Show less
Meridian Holdings (MRDN) stock has lost about 25% since 7/31/2026 because of the following key factors:
1. Fiscal Q2 2026 Revenue Miss and Margin Concerns.
Following its fiscal Q2 2026 earnings report on July 29, 2026, Meridian Holdings' shares declined sharply by approximately 20% in the subsequent weeks. This occurred despite beating earnings per share (EPS) estimates, reporting $0.17 against a $0.14 consensus. The negative market reaction was primarily driven by a revenue miss, with reported revenue of $50.2 million falling short of the approximately $52.4 million consensus, and concerns over softer gross margins due to higher gaming taxes and software fees.
2. Analyst Downgrade and Bearish Sentiment.
Analyst sentiment shifted negatively in fiscal Q3 2026, with Weiss Ratings downgrading Meridian from a "sell (d-)" to a "sell (e+)" rating on September 28, 2026. This downgrade reinforced a broader "Sell" consensus among analysts, who maintained a price target of $21.60, signaling a challenging outlook for the stock.
3. Negative Technical Indicators.
Key technical indicators signaled a downward trend for MRDN during fiscal Q3 and early Q4 2026. The Momentum Indicator turned negative on September 24, 2026, and the 10-day moving average crossed bearishly below the 50-day moving average on September 29, 2026. Additionally, the Moving Average Convergence Divergence Histogram (MACD) turned negative on October 22, 2026, collectively suggesting a sustained bearish technical outlook.
4. Regulatory Uncertainty in Brazil.
Concerns over a 60-day ban on online gambling by the Brazilian government contributed to a roughly 20% stock price decline in October 2026. Although Meridian Holdings stated this would have minimal impact as Brazil was a new emerging market for the company, the regulatory uncertainty in one of its operating regions negatively affected investor sentiment.
Show less
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Stock Movement Drivers
Fundamental Drivers
The -23.0% change in MRDN stock from 7/31/2026 to 11/8/2026 was primarily driven by a -23.0% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.27 | 8.68 | -23.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 197 | 197 | 0.0% |
| P/S Multiple | 0.7 | 0.6 | -23.0% |
| Shares Outstanding (Mil) | 13 | 13 | 0.0% |
| Cumulative Contribution | -23.0% |
Market Drivers
7/31/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| MRDN | -23.0% | |
| Market (SPY) | -1.6% | 42.0% |
| Sector (XLY) | 1.3% | 33.0% |
Fundamental Drivers
The -12.2% change in MRDN stock from 4/30/2026 to 11/8/2026 was primarily driven by a -15.2% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.89 | 8.68 | -12.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 190 | 197 | 3.7% |
| P/S Multiple | 0.7 | 0.6 | -15.2% |
| Shares Outstanding (Mil) | 13 | 13 | -0.2% |
| Cumulative Contribution | -12.2% |
Market Drivers
4/30/2026 to 11/8/2026| Return | Correlation | |
|---|---|---|
| MRDN | -12.2% | |
| Market (SPY) | 2.6% | 32.2% |
| Sector (XLY) | -0.5% | 25.9% |
Fundamental Drivers
The -29.8% change in MRDN stock from 10/31/2025 to 11/8/2026 was primarily driven by a -30.6% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.36 | 8.68 | -29.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 179 | 197 | 10.1% |
| P/S Multiple | 0.8 | 0.6 | -30.6% |
| Shares Outstanding (Mil) | 12 | 13 | -8.0% |
| Cumulative Contribution | -29.8% |
Market Drivers
10/31/2025 to 11/8/2026| Return | Correlation | |
|---|---|---|
| MRDN | -29.8% | |
| Market (SPY) | 8.7% | 23.3% |
| Sector (XLY) | -1.4% | 20.6% |
Fundamental Drivers
The -71.5% change in MRDN stock from 10/31/2023 to 11/8/2026 was primarily driven by a -76.2% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 10312023 | 11082026 | Change |
|---|---|---|---|
| Stock Price ($) | 30.48 | 8.68 | -71.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 42 | 197 | 369.9% |
| P/S Multiple | 2.2 | 0.6 | -74.5% |
| Shares Outstanding (Mil) | 3 | 13 | -76.2% |
| Cumulative Contribution | -71.5% |
Market Drivers
10/31/2023 to 11/8/2026| Return | Correlation | |
|---|---|---|
| MRDN | -71.5% | |
| Market (SPY) | 81.9% | 16.8% |
| Sector (XLY) | 58.2% | 15.3% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| MRDN Return | -7% | -60% | -5% | -18% | -60% | -10% | -90% |
| Peers Return | -7% | -39% | 55% | -5% | -15% | -15% | -40% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| MRDN Win Rate | 42% | 25% | 33% | 50% | 17% | 45% | |
| Peers Win Rate | 45% | 33% | 55% | 47% | 62% | 49% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 45% | |
Max Drawdowns [4] | |||||||
| MRDN Max Drawdown | -55% | -77% | -52% | -68% | -71% | -43% | |
| Peers Max Drawdown | -46% | -54% | -33% | -33% | -43% | -45% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: FLUT, DKNG, PENN, CZR, MGM.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)
How Low Can It Go
| Event | MRDN | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -48.3% | -6.7% |
| % Gain to Breakeven | 93.4% | 7.1% |
| Time to Breakeven | 305 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -26.2% | -33.7% |
| % Gain to Breakeven | 35.5% | 50.9% |
| Time to Breakeven | 9 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -14.3% | -19.2% |
| % Gain to Breakeven | 16.7% | 23.8% |
| Time to Breakeven | 1 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -98.0% | -3.7% |
| % Gain to Breakeven | 4900.0% | 3.9% |
| Time to Breakeven | 1169 days | 6 days |
| 2013 Taper Tantrum | ||
| % Loss | -78.3% | -0.2% |
| % Gain to Breakeven | 360.0% | 0.2% |
| Time to Breakeven | 84 days | 1 days |
In The Past
Meridian Holdings's stock fell -8.6% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 9.4% gain to breakeven.
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Asset Allocation
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| Event | MRDN | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -48.3% | -6.7% |
| % Gain to Breakeven | 93.4% | 7.1% |
| Time to Breakeven | 305 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -26.2% | -33.7% |
| % Gain to Breakeven | 35.5% | 50.9% |
| Time to Breakeven | 9 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -98.0% | -3.7% |
| % Gain to Breakeven | 4900.0% | 3.9% |
| Time to Breakeven | 1169 days | 6 days |
| 2013 Taper Tantrum | ||
| % Loss | -78.3% | -0.2% |
| % Gain to Breakeven | 360.0% | 0.2% |
| Time to Breakeven | 84 days | 1 days |
In The Past
Meridian Holdings's stock fell -8.6% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 9.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Meridian Holdings (MRDN)
Meridian Holdings (MRDN) operates as a provider of enterprise software-as-a-service (SaaS) solutions specifically tailored for online casino and sports betting operators. The company specializes in developing and owning proprietary online gaming intellectual property while also building robust gaming platforms for its clientele.
MRDN's core offering includes a comprehensive platform that facilitates the operation of various online gaming activities, such as casinos, sportsbooks, lotteries, and live games. Through this platform, customers gain access to a curated portfolio of licensed gaming content sourced from various third-party providers. The company further augments its services by reselling third-party gaming content to licensed online gaming distributors, with its platforms being accessible via both desktop and mobile applications.
The primary customer base for Meridian Holdings consists of online gaming operators located predominantly in the Asia Pacific region and Europe. The company effectively serves as a crucial technology partner, enabling these operators to offer a wide array of gaming experiences to their end-users.
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For MRDN, think of it as:
- Shopify for online casinos and sportsbooks.
- A specialized Salesforce for the online gambling industry.
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Here are the major services provided by the company:
- Enterprise SaaS Solutions: Provides software-as-a-service solutions specifically designed for online casino and sports betting operators.
- Online Gaming Platform Development: Builds gaming platforms that enable customers to operate online casinos, sportsbooks, lottery, and live games.
- Gaming Content Aggregation: Offers customers access to a diverse portfolio of licensed gaming content from various third-party providers.
- Third-Party Content Reselling & Services: Resells gaming content from other providers and offers related services to licensed online gaming distributors.
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Zoran Milosevic, Chief Executive Officer
Zoran Milosevic leads Meridian Holdings Inc., with the company's brand aligning with its core Meridianbet operating subsidiary in 2026. Meridianbet Group is recognized as a prominent online sports betting and gaming operator, established in 2001.
Richard Christensen, Chief Financial Officer
Richard Christensen was appointed CFO in March 2025, when the company was still known as Golden Matrix Group. He possesses over 25 years of experience in corporate finance, capital markets, mergers and acquisitions (M&A), and financial operations within publicly traded companies. Prior to joining, he served as Senior Vice President, Chief Accounting Officer, and Treasurer at TrueBlue Inc., where he was responsible for global finance functions, implementing financial automation, and spearheading cost-saving initiatives. He also held leadership positions at Itron Inc., overseeing global finance operations, strategic restructuring, and M&A transactions. Christensen began his career at Deloitte & Touche LLP. He holds an MBA in Finance from The Wharton School and is a Certified Public Accountant (CPA).
William Scott, Chairman of the Board
William Scott currently serves as the Chairman of the Board for Meridian Holdings, and previously held the position of Interim Chief Executive Officer after Brian Goodman stepped down in December 2025. Scott has extensive experience in global gaming and regulated markets, having held senior executive roles at GTECH/Lottomatica. During his tenure there, he played a leading role in the company's evolution from a lottery-focused business into a broader international gaming group.
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Meridian Holdings (MRDN) faces several key risks inherent to the online gaming and betting industry.
- Regulatory and Compliance Risks: As an online gaming company operating in numerous international markets across Europe, Africa, and Central and South America, Meridian Holdings is subject to complex and evolving regulatory landscapes. The company must continuously obtain and maintain gaming licenses, adhere to technical standards, and comply with diverse local regulatory frameworks in each jurisdiction where it operates. Changes in regulations, such as the recent provisional measure in Brazil prohibiting online betting and casino services, can introduce significant uncertainty and impact market access, even if the company's direct exposure to a specific event is initially deemed "immaterial."
- Liquidity and Financial Obligations: Meridian Holdings faces liquidity challenges, evidenced by a reported working capital deficiency of $24.9 million. Furthermore, the company has significant cash obligations, including $15.7 million still due to the former owners of Meridianbet, an acquisition. These financial commitments and the working capital deficiency can constrain the company's financial flexibility and potentially impact its valuation.
- Competition and Market Dynamics: The online gaming and betting industry is highly competitive, with Meridian Holdings facing competition from both existing and new market participants. Factors such as a declining trend in "betting hold" (the percentage of money kept by the operator from bets) or increased gaming tax rates, software fees, and marketing expenses could indicate structural pressures on revenue and profitability. A decrease in gross margin, as noted in fiscal Q2 2026 due to lower sportsbook and casino hold, suggests vulnerability to these market dynamics.
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Addressable Markets for Meridian Holdings (MRDN)
Meridian Holdings Inc. (MRDN), formerly Golden Matrix Group, Inc., operates in the online gaming and iGaming technology sector, providing enterprise software-as-a-service (SaaS) solutions for online casino and sports betting operators. The company engages in both business-to-business (B2B) and business-to-consumer (B2C) activities across various international markets. Their main products and services encompass online casino games, sports betting, and pay-to-enter prize competitions.
Online Casino and Sports Betting (B2B SaaS Solutions and B2C Operations)
- Europe: The online gambling market in Europe was valued at approximately USD 51.80 billion in 2024 and is projected to reach USD 77.20 billion by 2030. Another estimate for the Europe online gambling market shows a size of USD 49.3 billion in 2026, with a projection to reach USD 78.8 billion by 2034. Within this, online casino games generated USD 23.27 billion in 2024, and the online sports betting market in Europe was estimated at USD 33.75 billion in 2023, with projections to grow at a compound annual growth rate (CAGR) of 9.9% from 2024 to 2030.
- Asia Pacific: The online gambling market in the Asia Pacific region was valued at USD 20.91 billion in 2025 and is anticipated to reach USD 23.58 billion in 2026, with a projection to reach USD 61.67 billion by 2034. Another source estimates the Asia Pacific online gambling market at USD 29.70 billion in 2026 and projects it to reach USD 59.75 billion by 2034. Sports betting was the largest revenue-generating type in 2025 within this region.
- Africa: Africa's online gambling market generated USD 23 billion in gross gaming revenue in 2025. The regulated online gambling revenue in Africa grew from USD 4.4 billion in 2024 to USD 5.2 billion in 2025.
- Latin America (Central and South America): The Latin America online gambling market generated a revenue of USD 7,240.0 million in 2025 and is expected to reach USD 16,230.3 million by 2033. Sports betting was the largest revenue-generating segment in 2025, accounting for more than half of the regional revenue.
- United Kingdom: The online gambling market in the United Kingdom reached USD 9.0 billion in 2025 and is expected to reach USD 13.2 billion by 2034. Remote casino, betting, and bingo activities collectively generated £8.3 billion (approximately USD 10.1 billion) between April 2025 and March 2026, with online casino games contributing £5.7 billion and remote betting £2.4 billion. Sports betting was the largest revenue-generating type in 2025, holding a 57.1% share.
- Australia: The Australia online gambling market is estimated at USD 5.76 billion in 2026 and is projected to reach USD 8.96 billion by 2034. Another estimate places the market size at USD 5.34 billion in 2024, growing to USD 12.79 billion by 2035. Sports betting was the largest revenue-generating type in 2025.
- Mexico: The Mexico online gambling market is projected to expand from USD 0.97 billion in 2026 to USD 1.09 billion by 2031. Other reports indicate the online gambling revenue surpassed US$1.6 billion in 2024 and is forecast to exceed US$3.15 billion by 2030. Mexico's licensed online gambling revenue reached USD 1.35 billion in 2025. Sports betting led with a 56.41% revenue share in 2025, and online casinos generated approximately US$441 million in 2024, expected to reach nearly US$944 million by 2030.
Pay-to-enter Prize Competitions and Trade Promotions
- United Kingdom and Australia: While specific market sizes solely for "pay-to-enter prize competitions and trade promotions" are not distinctly separated in the available data, these activities generally fall under the broader online gambling or iGaming market segments. In Australia, products such as online casino and live in-play betting, which are generally unavailable legally, contribute to an illegal offshore gambling market that was approximately US$2.53 billion in 2025 and is projected to reach US$3.24 billion by 2029. This offshore market may include forms of prize competitions. The overall online gambling market sizes for the UK and Australia, as mentioned above, would encompass the addressable market for these types of offerings within regulated or sometimes unregulated contexts.
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Meridian Holdings Inc. (MRDN), formerly Golden Matrix Group, Inc., is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Geographic Expansion and Market Penetration: The company plans to expand its B2B and B2C operations into new regulated markets. This includes continued growth in existing jurisdictions across Europe, Africa, and Central and South America, as well as strategic entries into new regions like Slovenia for its Expanse Studios content. Meridian Holdings also operates a regulated online casino, MEXPLAY, in Mexico, indicating a focus on Latin American markets.
- Expansion and Distribution of B2B Gaming Content and Platforms: Growth is anticipated from the further development and broader distribution of its proprietary B2B gaming content, particularly through Expanse Studios, which offers a portfolio of over 55 games including slots, crash games, and table games. Showcasing at major industry events like the Global Gaming Expo (G2E) is part of this strategy to secure new distribution agreements and clients. The company's iGaming platforms, such as GM-AG, and the resale of third-party gaming content also contribute to this growth driver.
- Growth in B2C Online Betting and Gaming Operations: The MeridianBet Group segment, which represents the majority of the company's revenue, is positioned for continued growth through its online sports betting and gaming sites. This growth will be fueled by ongoing customer acquisition and retention efforts, potentially supported by marketing and sponsorship activities such as its partnership with UFC for Fight Night Belgrade.
- Strategic Mergers and Acquisitions: Meridian Holdings has a demonstrated growth strategy that includes mergers and acquisitions, exemplified by its acquisition of the MeridianBet Group. Future strategic acquisitions of complementary businesses or technologies could significantly contribute to revenue expansion by adding new market share, products, or capabilities.
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Share Repurchases
- On December 16, 2025, Golden Matrix Group Inc. (now Meridian Holdings Inc.) authorized a share repurchase program of up to $3 million, set to run through December 15, 2026.
- All shares purchased under this program are intended to be retired and returned to treasury.
- The company resumed its stock repurchase program in December 2024.
Share Issuance
- Effective March 3, 2026, Meridian Holdings Inc. (formerly Golden Matrix Group Inc.) implemented a 1-for-12 reverse stock split, reducing outstanding shares from 151,692,749 to approximately 12,641,062.
- As of March 24, 2025, the company had 132,087,080 shares of common stock outstanding, excluding 918,375 shares issued upon settlement of Restricted Stock Units.
- In April 2024, 1,000 shares of Series C Preferred Stock were designated and issued to Meridian Sellers as part of the Meridian Purchase.
Outbound Investments
- On April 9, 2024, Golden Matrix Group acquired 100% of MeridianBet Group, a significant acquisition that transformed the company into a global sports betting and iGaming entity.
- On February 2, 2026, Meridianbet completed the acquisition of Fairbet Ltd., a licensed retail gaming operator in Malta.
- On January 19, 2021, Golden Matrix acquired 100% ownership of Global Technology Group Pty Ltd (GTG), an Australian company.
Peer Outperformance in Casinos & Gaming
MRDN has trailed 80% of its 20 Casinos & Gaming peers over 5Y. Casinos & Gaming ranks 19th of 22 industries in Consumer Discretionary by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Casinos & Gaming constituents that MRDN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
52%
of 21 industry peers · -21.4% return
3Y
20%
of 20 industry peers · -71.4% return
5Y
20%
of 20 industry peers · -91.3% return
No Casinos & Gaming peer with a comparable growth profile has beaten MRDN by more than 20pp over 5Y.
Median price return by industry across the Consumer Discretionary sector, ranked by 5Y. Casinos & Gaming is MRDN's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Education Services | 14 | -14.6% | 32.0% | 43.4% | CVSA 236% · GHC 113% · LRN 109% |
| Homebuilding | 17 | 2.8% | 30.2% | 31.1% | PHM 176% · TOL 159% · GRBK 156% |
| Hotels, Resorts & Cruise Lines | 21 | 19.1% | 64.5% | 10.0% | RCL 261% · MAR 158% · HLT 148% |
| Automotive Retail | 17 | -4.5% | 15.1% | 9.6% | MUSA 202% · PAG 116% · ORLY 112% |
| Home Improvement Retail | 5 | -4.8% | 5.1% | 2.6% | HD 6% · LOW 6% · FND -62% |
| Home Furnishings | 3 | 3.8% | 80.9% | -1.0% | SGI 51% · MHK -14% |
| Footwear | 9 | 75.5% | 91.6% | -14.0% | DECK 25% · SHOO -11% · CROX -14% |
| Restaurants | 36 | 1.5% | -2.3% | -20.8% | EAT 372% · CAKE 166% · TXRH 117% |
| Specialized Consumer Services | 10 | -12.1% | 33.5% | -24.5% | FTDR 176% · HRB 153% · ADT 24% |
| Distributors | 4 | -6.7% | -16.2% | -25.6% | ARMK 98% · GPC 5% · POOL -56% |
| Computer & Electronics Retail | 3 | 32.8% | 83.4% | -25.8% | BBY -3% · GME -54% |
| Leisure Products | 14 | -18.0% | -3.8% | -35.5% | GOLF 51% · HAS 49% · BC -15% |
| Leisure Facilities | 12 | 16.8% | 8.8% | -39.5% | OSW 164% · LTH 142% · PLNT -37% |
| Household Appliances | 18 | 36.3% | 22.9% | -40.0% | WHR -82% |
| Automotive Parts & Equipment | 37 | -13.5% | -21.6% | -46.0% | GTX 193% · PATK 65% · ALV 39% |
| Broadline Retail | 12 | -4.4% | 23.6% | -46.1% | EBAY 81% · AMZN 49% · OLLI 25% |
| Apparel Retail | 27 | -5.5% | 4.9% | -48.7% | ANF 229% · VSXY 115% · TJX 108% |
| Apparel, Accessories & Luxury Goods | 29 | 14.6% | 23.7% | -50.6% | TPR 256% · RL 222% · KTB 56% |
| Casinos & Gaming ← | 21 | -25.1% | -15.4% | -51.0% | BYD 25% · RRR 22% · LVS 5% |
| Other Specialty Retail | 25 | -5.3% | -7.9% | -58.5% | ULTA 66% · ASO 51% · ARHS 23% |
| Automobile Manufacturers | 8 | -57.1% | -42.1% | -70.4% | GM 51% · TSLA -8% · F -16% |
| Consumer Electronics | 11 | -31.6% | -31.4% | -80.7% | GRMN 116% |
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 23.71 |
| Mkt Cap | 7.1 |
| Rev LTM | 9,501 |
| Op Inc LTM | 228 |
| FCF LTM | 385 |
| FCF 3Y Avg | 272 |
| CFO LTM | 990 |
| CFO 3Y Avg | 1,276 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.2% |
| Rev Chg 3Y Avg | 5.0% |
| Rev Chg Q | 4.8% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | -13.3% |
| Op Inc Chg 3Y Avg | 18.7% |
| Op Mgn LTM | 4.0% |
| Op Mgn 3Y Avg | 1.8% |
| QoQ Delta Op Mgn LTM | -0.5% |
| CFO/Rev LTM | 10.4% |
| CFO/Rev 3Y Avg | 8.9% |
| FCF/Rev LTM | 4.2% |
| FCF/Rev 3Y Avg | 4.2% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| MeridianBet Group | 125 | 106 | |||
| RKings & Classics for a Cause (CFAC) | 44 | 32 | |||
| GMAG | 15 | 12 | |||
| Business-to-business (B2B) Segment | 16 | 15 | |||
| Business-to-consumer (B2C) Segment | 29 | 21 | |||
| Gaming | 9 | ||||
| Total | 183 | 151 | 44 | 36 | 9 |
| $ Mil | 2025 | 2024 |
|---|---|---|
| MeridianBet Group | 18 | 20 |
| RKings & Classics for a Cause (CFAC) | 2 | 3 |
| GMAG | -0 | -1 |
| Restructuring costs | -0 | -2 |
| Stock-based compensation expenses | -4 | -5 |
| Holding company expenses | -5 | -2 |
| Depreciation expenses | -6 | -4 |
| Amortization expenses | -9 | -6 |
| Impairment loss | -92 | |
| Total | -96 | 3 |
Price Behavior
Price Behavior
| Market Price | $8.68 | |
| Market Cap ($ Bil) | 0.1 | |
| First Trading Date | 10/30/2009 | |
| Distance from 52W High | -41.0% | |
| 50 Days | 200 Days | |
| DMA Price | $11.93 | $10.91 |
| DMA Trend | down | up |
| Distance from DMA | -27.2% | -20.5% |
| 3M | 1YR | |
| Volatility | 45.3% | 97.6% |
| Downside Capture | 145.90 | 193.53 |
| Upside Capture | -66.55 | 134.80 |
| Correlation (S&P 500) | 39.3% | 23.3% |
MRDN Betas & Captures as of 10/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.28 | 0.68 | 2.00 | 2.25 | 1.61 | 0.93 |
| Up Beta | 4.16 | -0.45 | 4.45 | 3.32 | 1.49 | 0.94 |
| Down Beta | 2.92 | 2.91 | 2.06 | 1.81 | 1.50 | 0.96 |
| Up Capture | -141% | -99% | 91% | 214% | 174% | 24% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 9 | 17 | 29 | 61 | 112 | 328 |
| Down Capture | 187% | 167% | 172% | 191% | 147% | 105% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 12 | 24 | 33 | 62 | 135 | 404 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRDN | |
|---|---|---|---|---|
| MRDN | -29.2% | 97.6% | 0.08 | - |
| Sector ETF (XLY) | -1.9% | 19.8% | -0.22 | 20.2% |
| Equity (SPY) | 9.5% | 13.6% | 0.40 | 23.0% |
| Gold (GLD) | 1.6% | 28.7% | 0.05 | 1.2% |
| Commodities (DBC) | 38.4% | 21.2% | 1.42 | -10.7% |
| Real Estate (VNQ) | 11.3% | 14.2% | 0.51 | 2.5% |
| Bitcoin (BTCUSD) | -27.2% | 43.6% | -0.61 | 13.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRDN | |
|---|---|---|---|---|
| MRDN | -37.4% | 87.3% | -0.16 | - |
| Sector ETF (XLY) | 4.0% | 24.2% | 0.12 | 13.4% |
| Equity (SPY) | 11.3% | 17.3% | 0.48 | 14.3% |
| Gold (GLD) | 17.5% | 19.1% | 0.74 | -1.1% |
| Commodities (DBC) | 8.1% | 19.6% | 0.30 | -1.3% |
| Real Estate (VNQ) | 1.3% | 18.9% | -0.04 | 10.3% |
| Bitcoin (BTCUSD) | 4.0% | 51.6% | 0.26 | 4.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with MRDN | |
|---|---|---|---|---|
| MRDN | -9.5% | 211.8% | 0.81 | - |
| Sector ETF (XLY) | 12.8% | 22.3% | 0.52 | 5.6% |
| Equity (SPY) | 15.0% | 18.0% | 0.70 | 5.9% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 1.2% |
| Commodities (DBC) | 7.5% | 18.1% | 0.33 | 1.8% |
| Real Estate (VNQ) | 5.9% | 20.7% | 0.24 | 3.9% |
| Bitcoin (BTCUSD) | 60.0% | 66.3% | 1.00 | 4.7% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 10/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/29/2026 | -21.9% | 1.7% | -2.0% |
| 4/28/2026 | 3.7% | 78.0% | 45.0% |
| 10/30/2025 | 2.0% | 2.0% | -17.6% |
| 8/6/2025 | -3.2% | -10.3% | -36.7% |
| 5/8/2025 | -3.2% | -8.1% | 3.8% |
| 1/13/2025 | 11.7% | 3.6% | -8.4% |
| 11/12/2024 | -3.4% | -12.4% | -31.4% |
| 9/12/2024 | 4.7% | 11.5% | -1.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 14 | 7 |
| # Negative | 9 | 10 | 17 |
| Median Positive | 3.2% | 6.6% | 10.1% |
| Median Negative | -3.2% | -7.0% | -13.1% |
| Max Positive | 11.7% | 78.0% | 45.0% |
| Max Negative | -21.9% | -27.5% | -36.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/29/2026 | -21.9% | 1.7% | -2.0% |
| 4/28/2026 | 3.7% | 78.0% | 45.0% |
| 10/30/2025 | 2.0% | 2.0% | -17.6% |
| 8/6/2025 | -3.2% | -10.3% | -36.7% |
| 5/8/2025 | -3.2% | -8.1% | 3.8% |
| 1/13/2025 | 11.7% | 3.6% | -8.4% |
| 11/12/2024 | -3.4% | -12.4% | -31.4% |
| 9/12/2024 | 4.7% | 11.5% | -1.3% |
| 7/9/2024 | -2.5% | 4.2% | -5.0% |
| 3/14/2024 | 0.7% | 3.1% | -12.6% |
| 1/17/2024 | 6.6% | 11.4% | 30.3% |
| 11/21/2023 | 3.4% | 8.2% | -2.6% |
| 9/7/2023 | 2.6% | 9.2% | 2.6% |
| 6/14/2023 | -8.1% | -0.4% | -2.7% |
| 3/16/2023 | -0.6% | -27.5% | -35.5% |
| 11/17/2022 | 3.2% | 5.1% | -13.5% |
| 9/7/2022 | 0.0% | -4.6% | -32.5% |
| 6/3/2022 | -2.7% | -13.6% | -13.1% |
| 3/8/2022 | 5.4% | 43.6% | 10.1% |
| 1/13/2022 | 2.9% | -3.5% | -4.3% |
| 9/10/2021 | 1.0% | 0.0% | 22.0% |
| 7/12/2021 | 5.0% | -5.9% | -16.2% |
| 4/30/2021 | -3.9% | -1.8% | -22.9% |
| 2/10/2021 | 0.8% | 14.2% | 5.6% |
| SUMMARY STATS | |||
| # Positive | 15 | 14 | 7 |
| # Negative | 9 | 10 | 17 |
| Median Positive | 3.2% | 6.6% | 10.1% |
| Median Negative | -3.2% | -7.0% | -13.1% |
| Max Positive | 11.7% | 78.0% | 45.0% |
| Max Negative | -21.9% | -27.5% | -36.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/24/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 01/31/2024 | 03/14/2024 | 10-Q |
| 10/31/2023 | 01/17/2024 | 10-K |
| 07/31/2023 | 09/07/2023 | 10-Q |
| 04/30/2023 | 06/14/2023 | 10-Q |
| 01/31/2023 | 03/16/2023 | 10-Q |
| 10/31/2022 | 01/30/2023 | 10-K |
| 07/31/2022 | 09/07/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/29/2026 | 10-Q |
| 03/31/2026 | 04/28/2026 | 10-Q |
| 12/31/2025 | 03/31/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/06/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 03/24/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/13/2024 | 10-Q |
| 01/31/2024 | 03/14/2024 | 10-Q |
| 10/31/2023 | 01/17/2024 | 10-K |
| 07/31/2023 | 09/07/2023 | 10-Q |
| 04/30/2023 | 06/14/2023 | 10-Q |
| 01/31/2023 | 03/16/2023 | 10-Q |
| 10/31/2022 | 01/30/2023 | 10-K |
| 07/31/2022 | 09/07/2022 | 10-Q |
| 04/30/2022 | 06/03/2022 | 10-Q |
| 01/31/2022 | 03/08/2022 | 10-Q |
| 10/31/2021 | 01/13/2022 | 10-KT |
| 07/31/2021 | 09/10/2021 | 10-Q |
| 04/30/2021 | 06/09/2021 | 10-Q |
| 01/31/2021 | 04/30/2021 | 10-K |
| 10/31/2020 | 12/11/2020 | 10-Q |
| 07/31/2020 | 09/08/2020 | 10-Q |
| 04/30/2020 | 06/12/2020 | 10-Q |
| 01/31/2020 | 06/08/2020 | 10-KT |
| 10/31/2019 | 12/05/2019 | 10-Q |
| 07/31/2019 | 10/23/2019 | 10-K |
Recent Forward Guidance
Updated 11/2/2026Latest: Q2 2026 Earnings Reported 7/29/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue Growth | Reported | 8.0% | 9.0% | 10.0% | ||||
Prior: Q1 2026 Earnings Reported 4/28/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | Reported | 51.00 Mil | 52.00 Mil | 53.00 Mil | ||||
Q3 2025 Earnings Reported 10/30/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Revenue | Reported | 186.00 Mil | 186.50 Mil | 187.00 Mil | 0 | Affirmed | Guidance: 186.50 Mil for 2025 | |
| Q4 2025 Revenue | Reported | 52.70 Mil | 53.20 Mil | 53.70 Mil | ||||
Insider Activity
Updated 6/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Goodman, Anthony Brian | Direct | Sell | 6122026 | 12.68 | 10,000 | 126,800 | 5,749,911 | Form | |
| 2 | Goodman, Anthony Brian | Direct | Sell | 6122026 | 13.02 | 9,000 | 117,180 | 6,034,288 | Form | |
| 3 | Goodman, Anthony Brian | Direct | Sell | 6122026 | 13.04 | 7,000 | 91,280 | 6,160,918 | Form | |
| 4 | Goodman, Anthony Brian | Direct | Sell | 5282026 | 10.37 | 12,196 | 126,444 | 4,970,929 | Form | |
| 5 | McChesney, Thomas | Direct | Sell | 5182026 | 6.85 | 2,000 | 13,700 | 1,035,535 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Goodman, Anthony Brian | Direct | Sell | 6122026 | 12.68 | 10,000 | 126,800 | 5,749,911 | Form | |
| 2 | Goodman, Anthony Brian | Direct | Sell | 6122026 | 13.02 | 9,000 | 117,180 | 6,034,288 | Form | |
| 3 | Goodman, Anthony Brian | Direct | Sell | 6122026 | 13.04 | 7,000 | 91,280 | 6,160,918 | Form | |
| 4 | Goodman, Anthony Brian | Direct | Sell | 5282026 | 10.37 | 12,196 | 126,444 | 4,970,929 | Form | |
| 5 | McChesney, Thomas | Direct | Sell | 5182026 | 6.85 | 2,000 | 13,700 | 1,035,535 | Form | |
| 6 | McChesney, Thomas | Direct | Sell | 5182026 | 7.00 | 1,000 | 7,000 | 1,072,211 | Form | |
| 7 | McChesney, Thomas | Direct | Sell | 5182026 | 7.06 | 2,727 | 19,253 | 1,088,461 | Form | |
| 8 | McChesney, Thomas | Direct | Sell | 5182026 | 5.62 | 4,467 | 25,105 | 910,440 | Form | |
| 9 | McChesney, Thomas | Direct | Sell | 5182026 | 7.10 | 100 | 710 | 1,113,990 | Form | |
| 10 | McChesney, Thomas | Direct | Sell | 5182026 | 6.95 | 5,000 | 34,750 | 1,091,150 | Form | |
| 11 | McChesney, Thomas | Direct | Sell | 5182026 | 5.20 | 1,000 | 5,200 | 865,628 | Form | |
| 12 | McChesney, Thomas | Direct | Sell | 5182026 | 5.22 | 1,000 | 5,220 | 874,178 | Form | |
| 13 | McChesney, Thomas | Direct | Sell | 5182026 | 5.00 | 1,000 | 5,000 | 842,335 | Form | |
| 14 | McChesney, Thomas | Direct | Sell | 5182026 | 5.70 | 1,000 | 5,700 | 965,962 | Form | |
| 15 | McChesney, Thomas | Direct | Sell | 5182026 | 5.57 | 2,334 | 13,000 | 949,501 | Form | |
| 16 | McChesney, Thomas | Direct | Sell | 5182026 | 5.50 | 3,000 | 16,500 | 950,406 | Form | |
| 17 | Goodman, Anthony Brian | Direct | Sell | 5062026 | 12.75 | 10,000 | 127,500 | 6,268,652 | Form | |
| 18 | Goodman, Anthony Brian | Direct | Sell | 4302026 | 6.41 | 10,000 | 64,100 | 3,215,634 | Form | |
| 19 | Goodman, Anthony Brian | Direct | Sell | 4302026 | 6.34 | 10,000 | 63,400 | 3,243,918 | Form | |
| 20 | Goodman, Anthony Brian | Direct | Sell | 4302026 | 6.30 | 2,000 | 12,600 | 3,286,452 | Form | |
| 21 | Goodman, Anthony Brian | Direct | Sell | 4232026 | 6.34 | 4,603 | 29,183 | 3,319,998 | Form | |
| 22 | Goodman, Anthony Brian | Direct | Sell | 4232026 | 6.90 | 404 | 2,788 | 3,645,008 | Form | |
| 23 | Goodman, Anthony Brian | Direct | Sell | 4232026 | 6.92 | 3,876 | 26,822 | 3,658,369 | Form | |
| 24 | Goodman, Anthony Brian | Direct | Sell | 4162026 | 6.93 | 6,900 | 47,817 | 3,690,516 | Form | |
| 25 | Goodman, Anthony Brian | Direct | Sell | 4162026 | 6.90 | 100 | 690 | 3,722,150 | Form | |
| 26 | Goodman, Anthony Brian | Direct | Sell | 4162026 | 6.90 | 713 | 4,920 | 3,722,840 | Form | |
| 27 | Goodman, Anthony Brian | Direct | Sell | 4162026 | 6.99 | 903 | 6,312 | 3,776,508 | Form | |
| 28 | Goodman, Anthony Brian | Direct | Sell | 4162026 | 7.00 | 10,000 | 70,000 | 3,788,232 | Form | |
| 29 | Goodman, Anthony Brian | Direct | Sell | 4162026 | 7.03 | 20,000 | 140,560 | 3,873,665 | Form | |
| 30 | Goodman, Anthony Brian | Direct | Sell | 4082026 | 7.25 | 248 | 1,798 | 4,148,320 | Form | |
| 31 | Goodman, Anthony Brian | Direct | Sell | 4082026 | 6.90 | 1,006 | 6,941 | 3,941,114 | Form | |
| 32 | McChesney, Thomas | Direct | Sell | 4052026 | 4.74 | 3,949 | 18,718 | 832,567 | Form | |
| 33 | McChesney, Thomas | Direct | Sell | 4052026 | 4.83 | 1,600 | 7,728 | 867,449 | Form | |
| 34 | McChesney, Thomas | Direct | Sell | 4052026 | 4.82 | 1,500 | 7,230 | 873,365 | Form | |
| 35 | McChesney, Thomas | Direct | Sell | 4052026 | 5.00 | 3,500 | 17,500 | 913,480 | Form | |
| 36 | Goodman, Anthony Brian | Direct | Sell | 4012026 | 7.75 | 3,016 | 23,374 | 4,436,332 | Form | |
| 37 | Goodman, Anthony Brian | Direct | Sell | 4012026 | 7.94 | 3,421 | 27,163 | 4,569,041 | Form | |
| 38 | Goodman, Anthony Brian | Direct | Sell | 3252026 | 8.54 | 4,000 | 34,160 | 4,943,524 | Form | |
| 39 | Goodman, Anthony Brian | Direct | Sell | 3252026 | 8.86 | 10,000 | 88,600 | 5,164,202 | Form | |
| 40 | Goodman, Anthony Brian | Direct | Sell | 3252026 | 9.67 | 5,500 | 53,185 | 5,733,024 | Form | |
| 41 | Goodman, Anthony Brian | Direct | Sell | 3182026 | 9.87 | 3,596 | 35,493 | 5,905,882 | Form | |
| 42 | Goodman, Anthony Brian | Direct | Sell | 3182026 | 9.05 | 1,908 | 17,267 | 5,447,765 | Form | |
| 43 | Goodman, Anthony Brian | Direct | Sell | 3182026 | 9.28 | 1,002 | 9,299 | 5,603,923 | Form | |
| 44 | Goodman, Anthony Brian | Direct | Sell | 3182026 | 9.04 | 1,000 | 9,040 | 5,468,052 | Form | |
| 45 | Milovanovic, Aleksandar | Direct | Buy | 3122026 | 1.80 | 50,000 | 90,000 | 140,101,745 | Form | |
| 46 | Goodman, Anthony Brian | Chief Executive Officer | Direct | Sell | 1212026 | 1.75 | 50,000 | 87,500 | 15,494,638 | Form |
| 47 | Milovanovic, Aleksandar | Direct | Buy | 12102025 | 2.35 | 25,000 | 58,750 | 182,037,980 | Form | |
| 48 | Milovanovic, Aleksandar | Direct | Buy | 12102025 | 2.51 | 25,000 | 62,750 | 194,494,805 | Form |
Industry Resources
| Consumer Discretionary Resources |
| Retail Dive |
| Business of Fashion (BoF) |
| WWD (Women's Wear Daily) |
| National Retail Federation (NRF) |
| McKinsey & Company - Consumer |
| Mintel Consumer Trends |
| Casinos & Gaming Resources |
| Casino.org News |
| Global Gaming Business |
| CDC Gaming Reports |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 11/8/2026