Toronto-based Bragg Gaming Group said this week that its rapid growth in the U.S. online casino market is the jewel in its crown as it continues to lean into providing proprietary content for a range of operators.
The iGaming supplier reported on Thursday that after a quarter of new game and operator launches south of the border, its U.S. revenue grew by 86% year over year for the three months ended Sept. 30. That far outstripped the company’s overall revenue growth across all markets, which was 2%.
The surging American growth was boosted by a raft of moves in the U.S. market last quarter, including Bragg launching content with Fanatics Casino in all of New Jersey, Michigan and Pennsylvania. Bragg also agreed to aggregate Expanse online casino content, as well as entering into a player account management partnership with SCCG Management across the country.
Last quarter doesn’t even account for steps the company took in October, such as entering West Virginia through a partnership with Caesars or launching multiple new bespoke online casino games for Hard Rock Bet.
CEO Matevž Mazij said that Bragg’s proprietary casino content revenue was up 35% in the quarter compared to the same quarter of 2024, and half of all proprietary content revenue in the quarter came from the U.S., “making the U.S. our strongest market for our fully owned casino game IP.”
Bragg also making moves in Canada, Brazil
The U.S. is one of Bragg’s biggest current focuses, along with its home nation of Canada and the still-young first-year Brazil iGaming market. North America and Brazil accounted for 22% of revenue last quarter, nearly double the 12% it comprised a year ago.
Brazil revenue increased by 80% compared to the third quarter of 2024 with continued growth in provider onboarding.
Across all markets., Bragg launched 35 new proprietary online casino games in the first few months of 2025. Included in that were new exclusive and aggregated content with several valued clients, including new game launches with theScore, Betty and Casino Time in Ontario, as well as BetMGM and Betsson in Brazil.
All told, Bragg is actively supplying to operators in six U.S. states and Ontario, as well as to Loto-Québec, providing proprietary and exclusive content from several in-house gaming brands as well as studios aggregated through its Powered By Bragg program.
Bragg also entered into a new $6 million USD financing agreement with the Bank of Montreal last quarter, replacing its prior debt at less than half the borrowing cost as it looks to continue a strategic shift toward higher-margin, cash-generating operations.
“The newly secured credit facility with BMO further strengthens our financial position and provides flexibility to accelerate expansion into regulated markets such as Brazil and the U.S.,” added Mazij on a Nov. 13 earnings call. “As we look ahead to the remainder of 2025 and into 2026, we remain confident in our ability to deliver long-term value for our shareholders.”
