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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) has partnered with Kings Entertainment to launch Kingsbet.cz, providing an end-to-end iGaming solution in the Czech Republic. This includes Player Account Management (PAM) technology, exclusive content, aggregated online casino games via Bragg HUB, and a localized sportsbook integration with Altenar. The partnership also includes managed marketing and operational services, as well as Bragg’s FUZE™ player engagement tools. This is Bragg’s second PAM and turnkey partner in the Czech market. Kings Entertainment operates three land-based casinos in the Czech Republic and plans to expand into online gambling, leveraging Bragg’s technology and expertise. The Czech online casino market is projected to reach $1 billion in gross win in 2024, growing 30% year-over-year from 2023. Recent legal amendments, effective January 2024, allow live casino games, streamlining the licensing regime for operators.
Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) has announced the appointment of Robbie Bressler as the interim Chief Financial Officer, effective July 1, 2024. Bressler has vast experience in senior finance roles, previously working at Bally's , Gamesys Group plc, and The Intertain Group He is currently the CFO of ForumPay , a crypto payment processing company. His career started at Ernst & Young, where he worked for over a decade in their financial services assurance group. CEO Matevž Mazij expressed confidence in Bressler's ability to lead Bragg's finance function.
ODDSworks, a leading North American iGaming technology and content provider, has appointed Kunal Mishra as Chief Strategy Officer and Chief Operating Officer. Mishra brings over 27 years of gaming experience, previously working as COO – Americas for Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG.TO). He played a key role in expanding Bragg's operations. Mishra aims to lead ODDSworks' growth and strategy, building on the company's success in delivering high-performing iGaming content and expanding into new markets. ODDSworks' BETguard™ RGS platform is approved in multiple jurisdictions, and the company plans to integrate with major online casinos.
Bragg Gaming Group reported a 4.2% increase in revenue to EUR 23.8 million for the first quarter of 2024. The company also achieved a gross profit of €11.9 million, a gross profit margin of 49.9%, and an Adjusted EBITDA of €3.4 million. Despite modest decreases in gross profit and Adjusted EBITDA due to business agreements, Bragg remains confident in its long-term growth. The company continues to focus on expanding its client base, introducing new exclusive titles, and exploring strategic growth opportunities.
Bragg Gaming Group has appointed Neill Whyte as Chief Commercial Officer, effective May 1, 2024, to lead global commercial teams and drive growth across various product verticals. Whyte brings over 18 years of experience in the iGaming sector and has a successful track record in developing commercial partnerships. His appointment aims to strengthen Bragg's position in existing and new markets, including the US, Canada, Latin America, and Europe.
Bragg Gaming Group Inc. (NASDAQ: BRAG, TSX: BRAG) announced the issuance of a US$7 million secured promissory note to entities controlled by Doug Fallon, providing flexibility for strategic initiatives. The Note bears interest at 14% and matures in 2025, with plans to enhance shareholder value and leverage market opportunities.
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