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Bragg Gaming Group expects sustained 2020 growth after 44% Q1 revenue rise

Bragg Gaming Group is confident of sustaining financial growth for the rest of 2020 after posting a 44% year-on-year increase in group revenue for Q1.

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Revenue through to 31 March was up to €8.8m ($9.9m), while group adjusted EBITDA rose 100% from 2019, to €0.8m.

The supplier put the growth down to launching with multiple new operators, including Admiral Group, Betcris, SkillOnNet and Lottoland, as well as existing customer growth.

It also mentioned the results demonstrated an improvement in the group’s diversification, as dependence on revenue from German-facing operators decreased, representing 30% of total revenues, compared to 46% in 2019.

The group said its Q2 performance was also positive, expecting to see revenue increase by 30% from the previous quarter.

That means Bragg’s full-year guidance remains unchanged, with 2020 revenue on track to increase 43% from 2019, up to between €35m and €38m, while adjusted EBITDA is also expected to fise to between €5.2m and €5.6m, up from €1.2m last year.

Bragg added that it’s focused on expanding its US presence, after establishing a foothold in 2019 with its Kambi and Seneca partnership.

Bragg CEO Dominic Mansour, said: “While acknowledging the widespread adverse impact of the global COVID-19 pandemic on people and businesses globally, Bragg’s business has experienced a significant increase in revenue, as people chose to seek safe entertainment alternatives they can enjoy in their own homes.”

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