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Meridian Holdings reports $13.3m Q3 loss after Brazil ban

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Meridian Holdings said it would continue seeking ways to resume its Brazil business after the country’s online gambling ban affected its third quarter. Group revenue fell 3% year on year to $46m, while the company recorded a $13.3m net loss, including $11.4m in non-cash impairment charges partly linked to Brazil. Chief executive Zoran Milosevic attributed the quarter’s performance to sports results, Brazilian regulatory developments and higher operating costs.

Brazil’s ban contributed to Meridian Holdings’ impairment charges and weaker quarterly revenue.

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