Bragg Gaming Group has appointed director and casino industry veteran Holly Gagnon as the new chair of the board.

Gagnon has served as lead director on Bragg’s board since 2021 and now succeeds CEO Matevž Mazij in the role. Mazij will continue as chief executive and a board member.

The new chair’s three decades of gaming leadership experience includes senior executive roles at Caesars Entertainment, MGM Resorts International, Harrah’s Entertainment and Seneca Gaming. She is also president of HGC Hospitality Gaming Consulting and serves in advisory roles for several prominent industry organizations.

Mazij called her “an outstanding choice” as chair.

“Her wealth of gaming industry experience, strategic insights and passion for governance best practices will be tremendous assets as we continue to execute on our growth initiatives,” the CEO added. “Holly has already made significant contributions as our lead independent director, and we look forward to further leveraging her expertise and leadership in her new capacity as chair.”

Under Mazij’s leadership, Toronto-based gaming supplier Bragg has rebounded from a slump that led it to consider selling up last year and posted record results for the fourth quarter of 2024. In that quarter, revenue was up 16.3% year over year, gross profit grew 30.9% and adjusted EBITDA climbed 68%.

“Matevž and the leadership team have done a remarkable job positioning the company for long-term success,” acknowledged Gagnon. “I look forward to working closely with the board and management to build on this strong momentum, capitalize on the many growth opportunities ahead, and maintain our commitment to strong corporate governance on behalf of all our stakeholders.”

The company will announce its earnings for the quarter ended March 31, 2025, on May 15.

Bragg announces creditor deal to fuel further growth

Last week, Bragg announced it has reached an agreement to repay $5 million USD (roughly $6.9 million CAD) of its outstanding secured promissory note with its lenders and to extend the maturity of the remaining $2 million USD ($2.8 million CAD) until June.

“This partial repayment and extension will further strengthen our balance sheet and reflects our confidence in the business,” said Chief Financial Officer Robbie Bressler.

Bragg is also in the process of securing new standby credit from a third-party lender, which Bressler said would allow for greater financial flexibility and strategic growth opportunities.

The company expects around 18% revenue growth of its North American and Brazilian operations this year. It anticipates that Canada and the U.S. will account for 15% of total revenue by the end of 2025, with Brazil contributing 10%.

Bragg has been supplying to operators in Ontario’s regulated market since the market launched in April 2022 and expanded into a second province via a content deal with Loto-Quebec in February of this year. It went live in the new Brazil market when it launched in January and recently bought a stake in RapidPlay, a Brazilian game development studio.

It also struck a notable deal with Caesars Digital at the start of year to develop exclusive online casino games for the operator and provide it with access to its proprietary tech offerings in licensed markets in the U.S. and Canada.