Meridian Writes Off $5.5M in Brazil as Casino Sales Grow

In its November 10 results, Meridian reported $46 million in quarterly revenue, down 3% from a year earlier. Non-cash impairment charges totalled $11.5 million. That figure also includes a separate $5.9 million goodwill write-down at Golden Matrix, where RKings and Classics for a Cause have been losing money.

The Brazilian Licence Accounts for $4.1M

The company’s quarterly filing breaks down the Brazilian charge:

• $4.1 million for the gaming licence. About $2.1 million of that amount had previously been recorded as investments under a local partnership arrangement;
• $1.4 million for the Magicbet777 domain and player database. The acquired players had already moved to Meridianbet’s platform.

Both assets had a carrying value of zero at September 30.

Meridian told investors on September 29 that Brazil contributed an immaterial share of its revenue. Yet the Brazilian assets accounted for roughly 48% of the group’s impairment charges in Q3, based on the rounded figures in its latest report.

Meridianbet Casino Revenue Keeps Rising

Meridianbet Group generated $103.8 million over the first nine months of 2026, up 16% year-on-year. Online casino revenue reached $46.9 million, a 21% increase.

The third-quarter figures were also positive for that business:

• Meridianbet Group revenue rose 2% to $33.1 million.
• Online casino revenue increased 17% to $17.1 million.
• New player registrations climbed 25% to 458,680.

Sports betting had a tougher quarter, with results favouring customers. Sales also weakened at RKings and Classics for a Cause.

Brazil Excluded From 2026 Forecast

Meridian now expects $195 million to $198 million in full-year revenue and has withdrawn its earlier second-half outlook. The revised forecast excludes any restart in Brazil during 2026. The company plans to retain a small office there while the legal proceedings continue.