Bragg Gaming Group Inc Stock Price, News & Analysis

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.

Bragg Gaming Group (NASDAQ: BRAG) has announced a strategic partnership with Betnation.nl to provide its Player Account Management (PAM) iGaming platform and exclusive content for a new online gambling site in the Netherlands. The launch is expected later this year, capitalizing on a growing market where the iGaming sector generated over US$200 million in revenue in Q4 2021. This partnership aligns with Bragg's expansion strategy in Europe and aims to enhance its market presence.

Bragg Gaming Group (NASDAQ: BRAG) has announced a new agreement with 711.nl to provide its Player Account Management (PAM) iGaming platform and exclusive content in the Netherlands. This partnership is significant as it represents Bragg's third PAM platform agreement and fifth overall for online gaming content in this regulated market. The Dutch iGaming market generated over $200 million in Q4 2021, which highlights the potential for growth. The company expects more agreements in the near future as part of its strategic expansion across Europe.

Bragg Gaming Group (NASDAQ: BRAG) has successfully launched its gaming content in the UK through a partnership with Casumo, a major player in the online casino market. This marks ORYX Gaming's fourth launch in the UK within the last four months, reflecting its growing presence in the largest regulated iGaming market. The collaboration allows Casumo to offer a selection of exclusive games from ORYX’s portfolio, enhancing the gaming experience for local players. The partnership previously extended to Casumo's Spanish brand, demonstrating a strong relationship between the two companies.

Bragg Gaming Group (NASDAQ: BRAG) has launched its exclusive iGaming content portfolio in Portugal with notable operator Betclic. This marks Bragg's seventh regulated European country launch since April 2021. The partnership enhances Betclic’s offerings, catering to the growing online casino segment, which is projected to be around USD 307 million in 2022. The Chief Commercial Officer of Bragg mentioned the potential for success in the Portuguese market, where online slot play is significant.