There’s a part of $Meridian Hldg(MRDN)$ that investors may be seriously underestimating. 👀
Its in-house game studio, Expanse Studios, is growing FAST:
📈 Revenue: +138% YoY
👥 Players: +67% YoY
💰 Pay-ins: +143% YoY
🎰 Operator sites: 1,881 vs. 1,519 last quarter
And this isn’t just a side project.
Expanse actually builds the casino games — slots, table games, and the fast crash games gaining traction across emerging markets. 🎮🎰
Last quarter alone, it launched 18 new titles, bringing its total library to 95 games.
Here’s where things get interesting. 👇
Being part of the broader $MRDN group gives Expanse some advantages that standalone game studios don’t necessarily have.
Its own aggregator can distribute the games at a lower cost.
Its casinos provide built-in shelf space.
And the group can see which games generate the most money across billions in wagers — then use that data to build more games that players actually want. 📊
That creates a pretty interesting feedback loop:
More games → more distribution → more data → better games → more revenue. 🔄
Expanse is also expanding its reach.
It recently signed deals with Bragg and a Flutter subsidiary, while securing certifications in Latvia, Colombia, Portugal, and Slovenia. 🌍
Regulatory approvals are still pending in New Jersey and Ontario.
If Expanse can keep scaling at anything close to its current pace, this could eventually become a meaningful business inside $MRDN.
For now, the numbers are getting harder to ignore. 🚀
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