Bragg Gaming Group Inc Stock Price, News & Analysis

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.

Bragg Gaming Group (NASDAQ: BRAG) has launched its content distribution agreement with 888casino as the regulated iGaming market in Ontario opens. This agreement allows Bragg to offer games from its exclusive portfolio, including the game Egyptian Magic, to 888casino's platform. Since receiving its supplier license from the Alcohol and Gaming Commission of Ontario in March 2022, Bragg has ensured compliance and is poised to support multiple operators entering this growing market, which is expected to exceed US$2 billion by 2022.

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.