Bragg Gaming Group reports 10.4% revenue increase in 2023

As of Monday, the Bragg Gaming Group said that their income for 2023 increased by 10.4% to €93.5 million ($137.6 million CAD).

The international B2B gaming technology and content provider disclosed in a pre-announcement prior to its complete earnings call on Tuesday that its adjusted EBITDA increased by 26.3% to €15.2 million ($22.4 million CAD) in the previous year.

According to the company’s most recent financial report, sales increased by 10.4% over the previous year, demonstrating its resiliency and sustained growth in the cutthroat online gaming industry. Bragg Gaming’s impressive achievement is a testament to its dedication to innovation, forming wise alliances, and providing players worldwide with the greatest gaming experiences possible.

Before the financial markets open on Tuesday, March 26, 2024, the Toronto-based company will release its full-year and fourth-quarter financial results. Chief Executive Officer Matevō Mazij, Chief Financial Officer Ronen Kannor, and Chief Strategy Officer Yaniv Spielberg will host a conference call at 8:30 a.m. ET to provide an update on the company’s operations.

Among the house brands of Bragg Studios are Indigo Magic, Atomic Slot Lab, Wild Streak Gaming, Spin Games, and Oryx Gaming.

More than 25 international regulated gaming markets, including those in North America (Ontario, New Jersey, Pennsylvania, and Michigan) and Europe (United Kingdom, Italy, the Netherlands, Germany, Sweden, Spain, and Malta), are eligible to receive casino games from Bragg’s remote gaming server (RGS). Based on our research there are a number of online casino games in Canada available for users to play and enjoy a gambling experience.

In addition, the business disclosed last week that it had been granted permission to market online casino games in Peru, giving that nation its second Latin American jurisdiction following Colombia. Peru’s online casino business is expected to produce at least $200 million USD ($272 million CAD) in gross gain by 2024, according to H2 Gambling Capital. The Peruvian market is expected to rise by 10% a year over the next three years.

This news followed a recent agreement Bragg made with Golden Nugget in the state to supply games and RGS technology, extending its previous agreements with BetMGM and PokerStars in the region.

Bragg has many partners in Ontario, one of which is bet365, with whom it struck a deal last year.

Bragg Gaming is still upbeat about its chances of expansion and confident in its capacity to take advantage of new developments and opportunities in the online gaming industry. The business keeps spending money on personnel, technology, and innovation to provide value to shareholders and fuel future growth. Bragg Gaming has a strong pipeline of upcoming projects and products, which will help it maintain its momentum and continue to be successful in the years to come.