$MRDN: Six Growth Engines Hidden Inside One Undervalued Company
A few things to know about $Meridian Hldg(MRDN)$
- $169M Market Cap
- $190M Revenues
- $19M ADJ EBITDA
- $23M OCF
- 5x FWD EV/OCF
The company has 6 core segments:
1. Meridianbet
Meridianbet is the core sports betting and online casino division of the group, operating across 18 markets in Europe, Africa, and Brazil.
2. R Kings Competitions
R Kings focuses on prize competitions, selling tickets to users, giving them a chance to win rewards like PS5s and Cars. Its primary market is the UK and Ireland.
3. Classics
Classics provides raffles in Australia, offering players an opportunity to win classic cars.
4. Mexplay
Mexplay is an online casino and sports betting platform in Mexico.
5. GMAG
GMAG acts as a casino platform and game aggregator, supplying gaming content and infrastructure to other businesses. It operates in the B2B space, primarily serving the Asian market.
6. Expanse Studios
Expanse Studios is the game development arm, creating casino games for casinos globally.
Rarely one can find so many growing segments in a $77M market cap company. The reason is that the Meridian is misunderstood. In my Meridian report, I explain the story fully.
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