Bragg Gaming Group Inc Stock Price, News & Analysis

Bragg Gaming Group has secured content distribution agreements with multiple iGaming operators following its supplier license from the Alcohol and Gaming Commission of Ontario (AGCO). The agreements encompass exclusive iGaming content as the Ontario market opens on April 4, 2022. With expectations of Ontario becoming a major iGaming market, Bragg aims to leverage its industry-leading technology to capitalize on this opportunity. The combined iCasino and sports betting market in Canada is estimated at over $2 billion in 2022, heightening the potential for growth in this sector.

Bragg Gaming Group's ORYX Gaming has launched its exclusive iGaming content in the Bahamas with the country's largest operator, Island Luck. This launch follows regulatory approval, allowing ORYX to offer its products in the Caribbean. The partnership enables Island Luck's customers access to ORYX’s diverse game portfolio, which is expected to grow with additional agreements in the region. Bragg aims to expand into markets similar to the U.S. and Canada, having received licenses in Ontario and pursuing further applications in New Jersey, Pennsylvania, and Michigan.

Bragg Gaming Group (NASDAQ: BRAG) has announced a partnership with Microgame to distribute its gaming content in Italy, Europe's second-largest regulated online market. This agreement will initially feature titles from Bragg's Atomic Slot Lab, including 'Egyptian Magic' and popular games like 'Respins of Amun-Re.' Italy's online casino revenue is expected to reach US$2.3 billion in 2022. Bragg's expansion follows successful launches in the UK, Netherlands, Greece, Czech Republic, Germany, and Switzerland, enhancing its presence in established regulated markets.

Bragg Gaming Group (NASDAQ: BRAG) reported a strong financial performance for Q4 and FY 2021, marked by revenue growth of 14.4% to €15.8 million in Q4 and 25.6% to €58.3 million for the full year. The company also emphasized its continued market expansion, increasing its total addressable market to approximately USD $13.5 billion, with plans to enter the U.S. and Canada. Bragg reiterated guidance for 2022 full-year revenue between €68-72 million and Adjusted EBITDA of €9.5-10.5 million, projecting growth of 20% and 39%, respectively. Gross profit margin improved to 51% in Q4.

Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) announced it has received a supplier license from the AGCO, enabling it to provide iGaming and sports betting solutions in Ontario starting April 4. This positions Bragg among the first suppliers in the newly regulated Canadian market, estimated to exceed $2 billion in 2022, with Ontario expected to be a key player. The company is prepared to leverage existing technology and partnerships to capitalize on this opportunity, enhancing its presence in North America following successful launches in the UK and the Netherlands.

Bragg Gaming Group (NASDAQ: BRAG) has extended its market presence in Spain by launching its content with 888casino, a leading online casino brand. This collaboration introduces a diverse selection of unique games from ORYX’s RGS portfolio, including exclusive titles from its in-house studio and new partner Blue Guru. The launch enriches 888casino’s offerings, which capitalize on a projected market size of $0.53 billion in 2022. This partnership builds on ORYX's strong growth in 2021, where it entered multiple jurisdictions and forged ties with numerous operators.

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.