Bragg Gaming Group Inc Stock Price, News & Analysis

Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG), a global B2B gaming technology and content provider, has announced the release of its second quarter 2024 financial results on Thursday, August 8, 2024, before the financial markets open. The company will host a conference call at 8:30 a.m. Eastern Time on the same day, featuring CEO Matevž Mazij and interim CFO Robbie Bressler, to discuss the results and provide a business update. A presentation will be available for viewing on the company's investor relations website. Interested parties can join the call using provided toll-free and international dial-in numbers. A webcast of the call and presentation will also be available, and a replay will be accessible until August 15, 2024.

Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) has launched HardRockCasino.nl in the Dutch market, providing its advanced player account management (PAM) software. This marks Bragg's sixth PAM client in the Netherlands, solidifying its position as a leading technology and content supplier. Hard Rock Casino NL gains access to Bragg’s full range of managed services, including customer support, payment processing, fraud prevention, and retention marketing.

Additionally, Hard Rock Casino NL can access the Bragg HUB, featuring over 10,000 casino titles, including exclusive content from in-house studios like Atomic Slot Lab and Indigo Magic. The platform also includes Fuze™ promotional tools for player engagement. Bragg's collaboration with Hard Rock Digital comes as part of a brand licensing agreement with iCasino.BV, which obtained a Dutch Gambling Authority license in May. The Dutch online gambling market is expected to surpass USD 2 billion by 2024.

Bragg Gaming Group has announced the results of its annual general meeting of shareholders, held on June 27, 2024. All nominees listed in the management information circular dated May 21, 2024, were elected as directors. The detailed voting results are:

Matevž Mazij: 92.52% for, 7.48% against; Holly Gagnon: 98.03% for, 1.97% against; Mark Clayton: 98.07% for, 1.93% against; Kent Young: 92.52% for, 7.48% against; Don Roberston: 98.07% for, 1.93% against; Ron Baryoseph: 99.89% for, 0.11% against.

Additionally, MNP LLP was re-appointed as the company's auditors with 98.77% of votes in favor, and the board of directors was authorized to fix the auditors' remuneration.

Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) has launched its latest games and Remote Game Server (RGS) technology with BetMGM in Pennsylvania. This marks its third state launch with BetMGM, following earlier introductions in Michigan (2022) and New Jersey (2023). BetMGM players in Pennsylvania can now access popular titles such as “Egyptian Magic” and “Fairy Dust” from Bragg’s Atomic Slot Lab, with additional titles forthcoming. Further expansions include content from Bragg’s Wild Streak Gaming and partners under the Powered By Bragg program, including King Show Games and Sega Sammy Creation. Bragg’s new RGS technology features Fuze™ promotional tools for enhanced player engagement. The Pennsylvania market is projected to have a Gross Win of over USD $2.5 billion in 2024, indicating significant growth potential. Bragg emphasizes its commitment to innovation and player satisfaction in the U.S. iGaming market.

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.