Toronto-based iGaming content and platform technology provider Bragg Gaming Group has completed the acquisition of Drayton International and named Matt Davey as the new Chair of the Board.
Bragg has bought B2B iGaming firm Drayton for US$9m (approximately C$12.7m) in total consideration, including shares. Drayton offers more than 100 proprietary games and has equity interests in several licensed game development studios. It also owns three distribution and tech platforms, including Advance Deposit Wagering (ADW) specialist Arc Gaming.
Bragg said that taking ownership of Drayton’s established technology and operational capabilities positions it to expand its presence in regulated U.S. sports betting and horse racing markets and facilitates its entry into the ADW regulated online wagering model, which Bragg described as a fast-growing segment of the U.S. gaming market.
“Drayton gives Bragg a direct, credible entry into the U.S. Advance Deposit Wagering (ADW) market, a diversified portfolio of studio equity interests and proprietary distribution infrastructure that materially expands our content scale,” said CEO Matevž Mazij.
“Beyond this transaction, our studios continue to expand the breadth of games and features across the platform, including the early application of AI-assisted development tools to help us bring new content to market faster. We see real long-term potential here, and we intend to be direct with shareholders and the market as that work matures.”
Matt Davey replaces Holly Gagnon as Bragg Board Chair
Upon the closing of the deal, Davey has assumed the role of Non-Executive Chairman of the Bragg board of directors. He replaces previous Chair Holly Gagnon.
“Bragg has built the foundations needed for a powerful platform and distribution business: real content, real technology, and real licences in highly regulated markets,” said Davey.
“The next chapter is about disciplined execution — focus, balance sheet strength, operating cash flow, and revenue growth driven by letting the product do the talking. I’ve built businesses through this phase before, and I look forward to supporting the board and management as they do it here.”
A gaming entrepreneur, Davey founded and chairs gaming-oriented investment fund Tekkorp Capital. Through that investment fund, Davey now owns around 10% of Bragg common shares. Bragg said he brings a track record of value creation across gaming M&A, with particular experience in U.S. sports betting and online gaming.
“Matt is highly respected throughout our industry and brings deep strategic, operational and governance experience,” said Davey’s predecessor as Chair, Gagnon. “His track record speaks for itself, but what stands out to me is that he’s not just advising Bragg, he’s now genuinely invested in where we go next.
“As we enter this next phase following the transaction, we’re glad to have that experience and perspective on the board as we focus on execution and long-term value for shareholders.”
CEO Mazij no longer on Bragg board
New American Gaming Association Hall of Famer Gagnon will continue to serve as a director after ending her tenure as Chair.
Meanwhile, Bragg confirmed in Wednesday’s announcement that CEO Mazij is officially no longer on the company’s board of directors, effective July 22. Mazij resigned from the board in June after he did not receive the required majority of the votes needed to be re-elected at this year’s AGM.
In accordance with the company’s majority voting policy, he offered to resign, and Bragg confirmed on Wednesday that his offer was accepted.
The change of board chair comes after numerous executive changes at Bragg in the last couple of years, including the hiring of:
- A new Chief Financial Officer
- A new Chief Commercial Officer
- An Executive Vice President of Global Content
- An EVP of AI and Innovation
Most recently, in early March, it brought on former Xtremepush C-suite leader Morten Tonnesen as Chief Operating Officer.
The company has recently cited a desire to become “iGaming’s ‘AI-First’ company”, wherein 90% of new products and more than three-quarters of all operational workflows will be augmented by AI. “We believe Bragg will stand out as the sole B2B provider operating at the convergence of iGaming, sports, and predictions,” said Mazij in March.
