Bragg Gaming experienced a positive year overall, with both income and earnings demonstrating growth throughout 2023. Although the final quarter witnessed a minor decrease in income and earnings, this can be attributed to modifications made with crucial strategic alliances. Despite this, the company still observed a substantial rise in betting activity during the same period. For the entirety of the year, Bragg recorded a 10.4% surge in income and a 26.3% surge in adjusted EBITDA. Furthermore, the company revealed the establishment of a specialized committee, with independent board member Don Robertson assuming the role of chair.
Bragg Gaming Group is investigating strategic avenues, possibly encompassing a divestiture or additional purchases. No resolutions have been reached at this time. This echoes comparable actions by other firms in the sector, such as 888’s assessment of its American business and Entain’s continuing examination of its holdings.
Chief Executive Officer Matevž Mazij stressed the company’s robust standing for 2024, noting the projected expansion of their offerings and their remarkable history of fresh introductions in 2023, with 29 novel exclusive online games debuted worldwide. He anticipates this momentum to persist or even hasten.
Mazij emphasized the company’s approach of broadening its lucrative proprietary and exclusive external game collection and supplying it to new collaborators. He posits this will propel long-term revenue escalation, augment gross earnings and adjusted EBITDA, and result in elevated operating margins.
Our key plans have established Bragg as a top supplier of iGaming material, preparing us for sustained, lucrative expansion. We are certain that our approach, solid financials, and robust framework will keep us moving forward. We are well-situated to take advantage of chances that boost cash flow and increase shareholder worth.”
Bragg’s latest approval by Peru’s Ministry of Foreign Trade and Tourism to offer casino game aggregation solutions within the nation demonstrates the company’s expanding worldwide presence.
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