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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) has partnered with Jumpman Gaming, enhancing its presence in the UK iGaming market. The agreement enables ORYX Gaming to distribute exclusive RGS content across Jumpman’s rapidly growing network. This collaboration aims to improve player engagement and retention through innovative features and jackpots. Chris Looney, CCO at Bragg, emphasized the importance of new partnerships for growth. Bragg is committed to expanding in regulated markets, further solidifying its position in the competitive UK gaming landscape.
Bragg Gaming Group (NASDAQ: BRAG) has further strengthened its position in Ontario's gaming market by launching its content on three of SkillOnNet's brands: SpinGenie, PlayOjo, and SlotsMagic. This follows their entry into the region on April 4. The partnership allows Bragg to offer its exclusive slots and games from its Atomic Slot Lab to a growing customer base. The demand underscores Bragg's ambition to expand in North America, with expectations for Ontario to become a significant iGaming market. Bragg aims to enhance its product portfolio and drive growth in Canada.
Bragg Gaming Group (NASDAQ: BRAG) has announced the appointment of Yaniv Sherman as the new Chief Executive Officer, effective July 1, 2022. Sherman, with over 20 years of experience in the gaming industry, previously served as Senior Vice President at 888 Holdings plc. His leadership is expected to enhance Bragg's strategic growth initiatives in the expanding U.S. online gaming market. Sherman's appointment concludes the Board's strategic review initiated in November 2021, and aims to drive long-term organic growth for the company.
Bragg Gaming Group Inc. (NASDAQ: BRAG, TSX: BRAG) announced the results of its annual and special meeting of shareholders held on June 9, 2022. All nominees proposed in the management information circular dated May 4, 2022, were elected as directors. Notably, each nominee received significant support, with Paul Godfrey garnering 86.97% of votes in favor. Additionally, the appointment of MNP LLP as auditors was approved with 99.83% of votes for. This meeting reflects strong shareholder backing for the company's leadership and operations.
Bragg Gaming Group has completed its acquisition of Spin Games LLC for approximately
Bragg Gaming Group (NASDAQ: BRAG) has received final regulatory approval from the Pennsylvania Gaming Control Board to enter the state's iGaming market. This approval paves the way for Bragg to finalize its acquisition of Spin Games LLC, a tech and content provider in the gaming sector, expected to close this month. Spin Games holds licenses in several key U.S. states, enhancing Bragg's reach. The integration of their technologies is anticipated to offer a competitive edge in the rapidly growing iGaming sector.
Bragg Gaming Group (NASDAQ: BRAG) has announced an extension of its collaboration with International Game Technology (IGT) to develop four exclusive land-based slot titles. This agreement builds on their successful relationship, with previous titles including 'Wolf Run Gold' and 'Dreamy Genie.' The first new title, 'Greek/Lucky Lightning,' is set for release in Q2 2022. Wild Streak Gaming, a subsidiary of Bragg, has a growing portfolio in both online and land-based gaming markets across North America and Europe.
Bragg Gaming Group reported strong financial results for Q1 2022, with revenues of €19.4 million, a 36.4% increase from the previous year. Gross profit surged over 50% to €10.0 million, reflecting a gross profit margin of 51.8%, up 490bps year-over-year. Adjusted EBITDA also rose by 26.2% to €3.0 million. The company reiterated its 2022 guidance for revenue between €68-72 million and Adjusted EBITDA of €9.5-10.5 million, indicating a positive outlook driven by market expansion and proprietary game development. Cash reserves stand at €18.4 million.
Bragg Gaming Group (NASDAQ: BRAG), a global gaming technology provider, announced the appointment of Alex Spiro to its Audit Committee, while Rob Godfrey resigned from the position, effective May 1, 2022. Following this change, the Audit Committee now consists of Paul Pathak (Chair), Holly Gagnon, and Alex Spiro, all meeting the independence criteria set by Nasdaq. This restructuring follows a previous compliance notification from Nasdaq, related to an independent director requirement, which has now been addressed.
Bragg Gaming Group (NASDAQ: BRAG) will announce its first quarter 2022 financial results on May 11, 2022, prior to market opening. The results will be discussed in a conference call at 8:00 a.m. Eastern Time, featuring CFO Ronen Kannor and CSO Yaniv Spielberg. Participants can join via specific dial-in numbers, with a replay available until May 22, 2022. Bragg operates globally in the gaming technology sector, offering exclusive casino content through its subsidiaries, including ORYX Gaming and Wild Streak Gaming.
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