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Bragg Gaming Group Inc. (NASDAQ: BRAG, TSX: BRAG) is a leading B2B online gaming technology and content provider. Established in 2018, Bragg specializes in identifying and capitalizing on online gaming opportunities, focusing on both B2B and B2C sectors. The company operates a robust platform that aggregates casino content and delivers proprietary, high-performing, data-driven gaming titles under well-known in-house brands including Wild Streak, Spin, Atomic Slot Lab, Indigo Magic, and Oryx Gaming.
Bragg Gaming offers an expansive range of gaming options such as slot games, table games, card games, video bingo, scratch card games, virtual sports, and live dealer games. These games are featured on their Player Account Management (PAM) platform and are also available for integration with third-party platforms. The company's innovative games are supported by powerful data analytics and the Fuze™ player engagement toolset, which enhances player experiences and operational efficiency.
Bragg generates a significant portion of its revenue from the Netherlands, with additional income streams from Curacao, Malta, the United States, Croatia, and other regions. Recent financial results highlight the company's growth trajectory, with a reported full-year 2023 revenue of EUR 93.5 million, reflecting a 10.4% year-over-year increase, and an adjusted EBITDA rising by 26.3% to EUR 15.2 million.
Bragg’s strategic focus on technological innovation and exclusive content distribution has positioned it as a key player in the global iGaming market. The company’s recent achievements include partnerships with leading operators and continued expansion into regulated markets worldwide. Bragg is licensed and operational in several major jurisdictions including New Jersey, Pennsylvania, Michigan, Ontario, the United Kingdom, Italy, the Netherlands, Germany, Sweden, Spain, Malta, and Colombia.
Latest News: Bragg recently pre-announced its full year 2023 financial results, showcasing robust growth and operational excellence. The company will release detailed financial results prior to the market opening on March 26, 2024, followed by a conference call hosted by CEO Matevž Mazij, CFO Ronen Kannor, and CSO Yaniv Spielberg to discuss the results and provide a business update.
Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) will release its Q4 and full year 2021 financial results on March 10, 2022, before market opening. A conference call hosted by CFO Ronen Kannor and CSO Yaniv Spielberg will follow at 8:00 a.m. ET to discuss the results and business updates. Dial-in details have been provided. A replay will be available until March 21, 2022. Bragg is a global gaming technology provider operating in Europe, North America, and Latin America.
Bragg Gaming Group has received a license to offer its online casino games in the Bahamas, expanding its presence in regulated markets. This approval follows recent launches in the UK, Netherlands, Greece, Switzerland, and Czech Republic. The company targets markets similar in demographics to the US and Canada, with additional licenses planned for New Jersey, Pennsylvania, Michigan, and Ontario. Chris Looney, Chief Commercial Officer, emphasized the opportunity to appeal to diverse player demographics and highlighted the company’s commitment to global growth.
Bragg Gaming Group (NASDAQ: BRAG) has launched exclusive iGaming content in the Czech Republic through a partnership with SYNOT Group, marking its entry into the market and enhancing its Central European presence. This is the company's sixth market expansion since March 2021, following entries in Switzerland, Germany, Greece, the Netherlands, and the UK. The total addressable market for the online casino sector in the Czech Republic is estimated at US$0.5 billion for this year, contributing to a US$9.5 billion total across six markets since March 2021.
Bragg Gaming Group expects a substantial increase in 2021 revenue, projecting approximately EUR €58.0 million (USD $66.1 million) and adjusted EBITDA of EUR €7.0 million (USD $8.0 million). The company raises its 2022 outlook to between EUR €68-72 million (USD $78-82 million) in revenue and EUR €9.5-10.5 million (USD $10.8-12.0 million) in adjusted EBITDA, indicating year-over-year growth of 21% and 43%, respectively. Bragg anticipates completing the acquisition of Spin Games by Q1 2022, which will enhance its market entry capabilities and total addressable market (TAM) growth, expected to reach over USD $18 billion by year-end 2022.
Bragg Gaming Group (NASDAQ: BRAG) has partnered with Blue Guru Games to launch new exclusive titles for the European iGaming markets. The collaboration will produce innovative games, starting with Nemean Lion, which will be distributed through ORYX's Blue Horn program. Blue Guru aims to create engaging games inspired by history and mythology. Bragg's Group Director of Content emphasized the strong alignment in design philosophy between the two firms, while Blue Guru's CEO expressed excitement about delivering unique gaming experiences. This partnership expands Bragg's content offerings.
Bragg Gaming Group has appointed Lara Falzon as President and Chief Operating Officer, effective immediately. Ms. Falzon, a board member since March 2021, brings over a decade of iGaming experience and a proven track record managing billion-dollar transactions. In her new role, she will oversee daily operations and help implement growth strategies. Her previous positions include CFO at Red Tiger Gaming and operational CFO at NetEnt. This leadership change aims to bolster Bragg’s operational performance and enhance shareholder value as it pursues growth in the iGaming market.
Bragg Gaming Group has launched its new game development studio, Atomic Slot Lab, debuting with the online slot game Egyptian Magic in European iGaming markets. This initiative aims to enhance the gaming experience by creating high-quality, localized content for North American and European players. The game features exciting mechanics, including four jackpots and bonus features. With Doug Fallon at the helm, Atomic Slot Lab is set to develop innovative titles, leveraging insights into player preferences for successful online gaming experiences.
Bragg Gaming Group (NASDAQ: BRAG) expands its footprint in the UK iGaming market through a partnership with Novibet. With this collaboration, ORYX Gaming, a subsidiary of Bragg, launches exclusive titles including games from GAMOMAT and Peter & Sons, and the new title Egyptian Magic from Atomic Slot Lab. The UK's online casino sector is projected to be a $5.9 billion market in 2022, representing significant growth potential for Bragg. This partnership also extends ORYX's content to Greece, with plans for additional regulated market entries later this year.
Bragg Gaming Group (NASDAQ: BRAG) has expanded its presence in the Swiss iGaming market by securing an agreement with Casino Interlaken to provide exclusive slots on StarVegas.ch. This partnership marks ORYX's third collaboration in Switzerland, following agreements with Grand Casino Luzern and Grand Casino Baden. The Swiss online gaming market, which opened in January 2019, reported gross gaming revenue of approximately $203 million in 2020. ORYX's ISO/IEC 27001 certification facilitates access to this regulated market, underscoring its commitment to information security.
Bragg Gaming Group (NASDAQ: BRAG) expands its UK market presence by partnering with SkillOnNet to distribute its iGaming content across multiple casino brands, including PlayOJO and Slingo.com. This follows the receipt of a supplier license from the Gambling Commission in November. The UK online casino sector is projected to reach approximately US$5.5 billion in 2021. Bragg anticipates its total addressable market will grow to over US$18 billion in 2022, with the UK making up nearly one third of this figure.
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