Toronto-headquartered games and technology supplier Bragg Gaming Group will lay off approximately 12% of its global workforce as part of a strategic restructuring that the company said is designed to realign the organization and accelerate its path to profitability.
Bragg announced on Jan. 8 that it will make the staff cuts as it strives to improve its overall cost structure, drive its EBITDA growth and shorten the time required for it to achieve sustained net profitability. It expects the job losses to cost the firm around €1 million (C$1.6 million) in the first quarter of 2026, but ultimately anticipates total annualized cash savings of €4.5 million (C$7.3 million).
The news comes after Bragg made several key executive hires in 2024 and 2025, including a new Chief Financial Officer, a Chief Commercial Officer, an Executive Vice President of Global Content and an EVP of AI and Innovation.
CEO cites regulatory requirements and tax burden
iGaming content and technology solutions provider Bragg operates in more than 30 regulated online casino markets across the world, including in Ontario and Quebec and six U.S. states, as well as multiple Latin American and European jurisdictions. It launched in Brazil, Quebec and West Virginia in 2025.
It provides online and land-based operators with proprietary and exclusive content from its in-house studios, as well as from third-party partners via its aggregation hub. It also supplies operators with player account management technology and in-house managed, operational and marketing services.
In a statement about the layoffs, CEO Matevž Mazij noted the difficulties of navigating various regulatory regimes and tax rates.
“We believe that we are in the enviable position of having great technologies, assets, people, and future prospects,” said Mazij. “Nevertheless, given the increasingly complex regulatory compliance requirements, recent tax headwinds across key regions, emerging market opportunities, consolidation in the market and our increased focus on short-term profitability, we needed to take this step now of restructuring the company’s staffing.”
In its most recent financial update in November 2025, Bragg reported total revenue of €26.8 million (C$43.3 million) for the quarter ended Sept. 30, up 2% year over year and adjusted EBITDA of €4.5 million (C$7.3 million), up 9%. However, net loss was €2.3 million ($3.7 million), more than C$3 million more than at the same time in 2024.
Ultimately, Mazij said that “aggressive operating expense reductions and organizational realignment” are the final steps to drive EBITDA growth and achieve profitability through further organic growth.
“We also believe that the company is currently undervalued by the market and that improving our cash profitability will help address this issue while also making us stronger in meeting consolidation opportunities as they arise,” he added.
Bragg dives deeper into AI with Golden Whale
The restructuring announcement came days after Bragg unveiled a new partnership with iGaming data science company Golden Whale Productions to deepen its artificial intelligence capabilities.
Bragg will leverage Golden Whale’s advanced machine learning and proprietary AI models, called Foundation, to enhance the predictive intelligence capabilities of the Bragg PAM platform. The initiative is designed to allow Bragg to use the most accurate predictive models in the iGaming market, said the company, integrating insights will be integrated into its operational platform to provide real-time, actionable data
Bragg plans to become “a fully AI-first company” by 2027. That roadmap includes ensuring that an AI-enhanced product becomes standard in over 90% of all launches and that more than three-quarters of Bragg’s operational workflows are augmented by AI.
