Bragg Gaming forecasts 9% revenue growth for its full-year 2024 results
The supplier is targeting further growth in 2025.
Key points:
– Revenue and EBITDA both expected to show growth in 2024 report
– Supplier expects to see double-digit growth for its 2025 revenue
Bragg Gaming has reported on what it expects to see from its full-year 2024 results when they are finalised.
It is anticipated that revenue will reach no less than €102m ($106.25m) for 2024, which would represent a rise of 9% year-on-year, while adjusted EBITDA is expected to increase by 1% to not less than €15.4m.
The supplier also announced how it anticipates to perform in 2025.
Its guidance states that revenue is expected to be between €117.5m and €123m, which would mean double digit growth on what it expects to see for its full-year revenue in 2024.
Meanwhile its adjusted EBITDA guidance for 2025 forecasts a figure between €19m and €21.5m.
It has set this guidance based on a number of factors and certain initiatives, including growth in key markets, particularly pointing to Brazil’s potential, expansion of exclusive partnerships, stability in its PAM business, an enhanced technology profile, etc.
As a result of this announcement, Bragg Gaming’s share price has grown, with it being valued at 4.75 USD at the time of writing (15:55 UK time), an increase of 12.3% compared to the closing price from yesterday.
Good to know: Last week, Super Group provided a business update in which it anticipated strong Q4 and full-year 2024 results
Bragg CEO Matevž Mazij said: “I am pleased with where we believe 2024 results will land and very excited about the strong growth trajectory outlined in our 2025 guidance.
“Our strategic investments in proprietary and exclusive content as well as various Data, Player journey and AI enhanced engagement features, are expected to drive our growth in 2025. By focusing on margin-accretive products, we are well-positioned to boost both revenue and profitability while pursuing opportunities in key markets such as Brazil and the United States.
“Our PAM product remains a top-tier performer, and while our 2025 growth will largely come from the content side of the business, we have exciting prospects to expand our PAM offering. Additionally, I’m particularly proud of the strong executive team that we have assembled at Bragg this past year. The recently announced Caesars deal highlights their impressive capabilities.”
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