Bragg Gaming revenue rose 10.4% in 2023

Adjusted EBITDA was up 26.3% YOY

Bragg Gaming Group announced on Monday that its full-year 2023 revenue rose 10.4% year over year to €93.5 million ($137.6 million CAD).

In a pre-announcement ahead of its full earnings call on Tuesday, the global B2B gaming technology and content provider also revealed that its adjusted EBITDA rose by 26.3% to €15.2 million ($22.4 million CAD) last year.

The Toronto-based company will release its full fourth quarter and full year 2023 financial results prior to the opening of the financial markets on Tuesday, March 26, 2024, followed by a conference call at 8:30 a.m. ET hosted by Bragg Chief Executive Officer Matevž Mazij, Chief Financial Officer Ronen Kannor, and Chief Strategy Officer Yaniv Spielberg, to provide a business update.

Bragg Studios‘ in-house brands include the likes of Wild Streak Gaming, Spin Games, Atomic Slot Lab, Indigo Magic and Oryx Gaming.

North and Latin American expansion

Bragg’s remote gaming server (RGS) is authorized to deliver casino games to more than 25 global regulated gaming markets, including Ontario, New Jersey, Pennsylvania, and Michigan in North America and the United Kingdom, Italy, the Netherlands, Germany, Sweden, Spain, and Malta in Europe.

The company also announced last week that it has received a license to distribute online casino games in Peru, making the country its second Latin American jurisdiction after Colombia. According to H2 Gambling Capital, Peru’s online casino market is projected to generate at least $200 million USD ($272million CAD) in gross win in 2024. Over the next three years, the Peruvian market is projected to grow by 10% annually.

That announcement came after Bragg recently struck a deal to provide games and RGS technology to Golden Nugget in the state, adding to deals it already had in the jurisdiction with BetMGM and PokerStars.

In Ontario, Bragg has numerous partners including bet365 after a partnership forged last year.

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