Meridian Holdings Inc. (NASDAQ: MRDN) announced that its subsidiary Expanse Studios has signed a content distribution agreement with Casino Portoroz d.d., one of Slovenia's leading gaming operators. This marks Expanse's first operator agreement in Slovenia, enabling its certified titles to be available on Casino.si, Slovenia's first licensed online casino platform.
The agreement follows the certification of Expanse Studios' games for the Slovenian market by Gaming Laboratories International, LLC. Slovenia's regulatory environment is notably strict: online concessions are granted only to Slovenian-registered companies that already hold a land-based concession, and the Financial Administration of the Republic of Slovenia oversees the market. This structure limits the number of licensed operators and mandates per-title certification for every supplier, raising the barrier to entry but making established partnerships more durable.
Casino Portoroz d.d. operates Grand Casino Portoroz, Grand Casino Lipica, and Grand Casino Mons Ljubljana, along with the Casino.si online platform. It was the first holder of a Slovenian online casino concession, and its Grand Casino Portoroz, established in 1913, is the oldest casino in Slovenia. This history and regulatory standing make it a strategic partner for Expanse's market entry.
Slovenia now joins a list of EU-regulated markets where Expanse Studios holds certified content, including Malta, Portugal, Sweden, Croatia, Romania, Bulgaria, Estonia, and Latvia. The studio's business model emphasizes jurisdiction-level certification paired with direct operator integrations, with player acquisition costs borne by the operator. This expansion aligns with Meridian Holdings' strategy to grow B2B revenue alongside its B2C operations.
Damjan Stamenkovic, Chief Executive Officer of Expanse Studios, stated, "Slovenia is a closed market with a demanding certification process, which is exactly why we deemed it worth entering. Casino Portoroz has been in this business for more than a century and holds one of the hardest positions to obtain in European online gaming. Starting there sets the standard for how we build in this market."
Ksenija Bezek, Head of Online Operations at Casino Portoroz d.d., commented, "We are delighted to welcome Expanse Studios to Casino.si as they enter the Slovenian market. Their commitment to certification and regulated operations aligns closely with our focus on providing Slovenian players with a safe, reliable and high-quality gaming experience. With a diverse portfolio spanning slots, strategy titles and roulette games, Expanse brings valuable new content to our platform. We look forward to building a successful, long-term partnership together."
This development is significant for Meridian Holdings as it continues to penetrate regulated European markets, leveraging its certified content to secure partnerships with established operators. The move underscores the company's commitment to compliance and its ability to navigate complex regulatory landscapes, potentially setting a precedent for future expansions in similarly stringent markets. By aligning with a century-old operator, Expanse Studios positions itself for sustained growth in Slovenia, a market where regulatory hurdles often deter less committed competitors.
