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NEWS 12 November 2019

Bragg Gaming Q3 revenue hits CDN $10m as supplier enters US market

By Matthew Enderby

Revenue at Bragg Gaming increased 30% year-on-year to CDN $10m (US$7.6m) for Q3.

The supplier generated gross profit of CDN $4.3m, EBITDA of CDN $0.2m and a net loss from continuing operations of CDN $0.2m.

This brings the year’s total to CDN $28m, with gross profit of CDN $12.6m, EBITDA of CDN $0.6m and net loss from continuing operations of CDN $7.6m.

Bragg was formed in 2018 after Breaking Data acquired both GiveMeSport and Oryx Gaming in 2017 and 2018, respectively.

During the year’s third quarter, Bragg entered the US market through its partnership with Kambi and New York’s Seneca Gaming Corporation (SGC).

Bragg will supply SGC with its casino services and player account management, while Kambi provides sports betting services.

Dominic Mansour, Bragg CEO, said: “Our partnership with Kambi and the initial deal with Seneca are both huge stepping stones for Bragg as we commence operations in the US and continue to expand our global reach.

"Our strategic focus in the US is to partner with tier-one casinos and operators."

In its Q3 report, Bragg also announced its CFO would be stepping down from the role due to personal reasons.

Effective 13 November, Akshay Kumar will vacate the role, with Steven Prowse replacing him.  

RELATED TAGS: Online | Industry | Sports Betting | Financial | Casino
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