Bragg Gaming Group experienced a revenue surge of 19% in the recent quarter, generating €24.7 million (equivalent to $27.2 million USD). This remarkable expansion was driven by ventures into fresh markets and a concentration on their most lucrative offerings.
The effectiveness of Bragg’s approach is evident. They achieved an unprecedented adjusted EBITDA margin of 19.2%, marking a substantial increase of 410 basis points. This accomplishment can be linked to their strategic transition towards higher-margin products, encompassing their internally created games and exclusive content from external providers. Additionally, they have been bolstering collaborations in player account management (PAM) and hosted solutions.
Regarding market presence, Bragg facilitated a remarkable €5.5 billion in total wagers through their platform. This represents a considerable rise from the €4.2 billion recorded during the corresponding period last year.
Bragg’s progress extended beyond financial gains; they broadened their operational scope significantly. They initiated partnerships with Rush Street Interactive in Pennsylvania, WynnBet in New Jersey, and FanDuel in Michigan and Connecticut. Furthermore, they secured global distribution accords with industry leaders 888 Holdings and Flutter.
CEO Yaniv Sherman expressed satisfaction with the company’s trajectory, emphasizing that this quarter underscores their dedication to a more profitable product portfolio. Given these outstanding outcomes, Bragg Gaming Group appears well-prepared for sustained prosperity.
Bragg Gaming is creating a stir! Their expansion across Europe is impressive, establishing themselves in Georgia, Switzerland, and Spain. Furthermore, they’ve secured worldwide distribution agreements with industry leaders 888 Holdings and PokerStars, a subsidiary of the Flutter group.
What’s their recipe for success? A constant flow of innovative and captivating games. They’ve launched 30 new titles, including their own creations and exclusive collaborations, just in the first six months of this year. And they have an ambitious plan to release 40 more before the year ends.
But their ambition doesn’t stop there. Europe is a primary focus, and they’ve already teamed up with 10 operators spanning five different European markets. They have a significant presence in Switzerland and are a major player in the Dutch market, largely due to their top-tier PAM platform.
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