Bragg Gaming Group
Expected Economic Benefits Help Grow the Popularity of Online Gambling
The swing to a more favorable attitude towards online gambling businesses is noticeable across the board. According to data published by the American Gaming Association (AGC), Americans’ views of the casino gaming industry improved in 2020 as voters increasingly recognize the industry’s economic benefits and commitment to local communities. Nearly 7 in 10 (69%) Americans say that gaming provides a positive benefit to the U.S. economy and 63% agree that the industry provides high-quality jobs. Dustin Gouker, Lead Analyst for PlayPennsylvania.com, explained that “there are a lot of positive signs right now as sportsbooks and online casinos continue to gain steam, and hopefully, the state’s brick-and-mortar casinos begin to regain their footing. If things do return to normal, the gaming industry should see significant gains across the board in 2021. Casino closures have certainly spurred online casinos and online sportsbook betting, which will provide some long-term benefits for the industry.” Bragg Gaming Group Inc., Scientific Games Corporation, International Game Technology PLC, DraftKings Inc., Elys Game Technology Corp
The more favorable attitude towards sports betting and online gambling is a trend that had started before the pandemic but was accelerated due to its effects. To illustrate just how popular online sports betting is in states where the market can already operate, according to data from Odds.com, which was published by Forbes, Illinois was poised to generate upwards of USD 73 Million in taxable revenue if the estimates of a USD 488 Million annual market come to fruition.
Bragg Gaming Group Inc. announced this week that Richard Carter will be assuming the role of CEO from the company’s founder Adam Arviv, effective May 1st. Carter brings five years of experience as CEO at the interactive sports betting provider SB Tech. In april of 2020, Carter left after a successful 3.3 billion dollar merger with DraftKings and a major American acquisition corp.
With years in the industry under his belt, Carter is well equipped to take on this new role.
“I’m excited to lead Bragg on our mission to become a significant force in the B2B gaming space.” Said Carter in a statement this Wednesday. “2020 has been a very successful year for the company and we are well-positioned to maintain this momentum into 2021 and beyond.”
2021 has definitely been a busy year for Bragg Gaming Group so far with significant expansion into European markets and major partnerships including the largest Swiss casino operator. Carter made it clear the company has plans to maintain this growth.
“We will continue to grow and broaden the business in our core European markets, while at the same time starting to accelerate our investment and focus on the fast-growing North American iGaming market. Now is the right time to break into this market, and we look forward to building our cutting-edge technology, data insights, and exclusive casino gaming content to the market.”
The innovative gaming solution provider has been making waves in the iGaming industry with their unique business model. Bragg offers “plug and play” style gaming solutions which has allowed them to expand on a global scale. This scalability has evidently been effective for the company which has seen impressive returns. In the past 2 years alone, Bragg Gaming has increased its customer base by over 300% with revenue growth up 74% in the first 9 months of 2020. As a further testament to Bragg’s success, the company says they haven’t lost a customer in 5 years.
The field iGaming is one to watch this year and Bragg Gaming Group is quickly establishing itself as a leading force in the industry. You can find out more about their financials on the companies “investors” page.
Scientific Games Corporation and International Game Technology PLC, announced on March 1st, that they have signed a cross-licensing agreement for patents related to cashless slot gaming technologies. Under the agreement, Scientific Games and IGT will be able to offer patented cashless gaming technologies from the companies’ combined portfolios of casino management systems solutions to the U.S. gaming industry. Financial terms of the agreement have not been disclosed. “This cross-licensing agreement provides casino operators access to the gaming industry’s most compelling portfolio of cashless gaming technologies. We have made significant R&D investments over many years to develop this comprehensive suite of intellectual property in the cashless space. It makes revolutionary improvements to the player experience and represents the greatest advancement in cashless payments since the introduction of Ticket-In, Ticket-Out (TITO),” said Renato Ascoli, IGT CEO Global Gaming. “Cashless gaming is here to stay, and this strong portfolio of cashless IP can help casino operators ensure the safety of players by reducing cash handling and points of contact with slot games, while considerably improving casino operating efficiencies.”
International Game Technology PLC announced last year that its leading PlaySports platform will power world-class retail sports betting at Maverick Gaming’s three Colorado-based casinos as well as interactive sports betting throughout Colorado via Play Maverick Sports. Through a multi-year agreement with Maverick Gaming, IGT will provide its proven PlaySports turnkey solution including user-friendly self-service PlaySports kiosks, to Grand Z Casino and Johnny Z’s Casino in Central City, Colo. and Z Casino in Black Hawk, Colo. The IGT PlaySports platform, complete with a fully integrated Player Account Management (PAM) solution, will also power Maverick Gaming’s “Play Maverick Sports” mobile sports wagering app.
DraftKings Inc. reported last month fourth quarter and full-year 2020 financial results. For the three months ended December 31st, 2020, DraftKings reported revenue of USD 322 Million, an increase of 146% compared to USD 131 Million during the same period in 2019. “With a favorable fourth quarter sports calendar and strong marketing execution, DraftKings was able to generate tremendous customer acquisition and engagement that propelled us to USD 322 Million in fourth quarter revenue, a 98% year over year increase,” said Jason Robins, DraftKings’ co-founder, CEO and Chairman of the Board. “In the fourth quarter of 2020, we saw MUPs increase 44% to 1.5 million and ARPMUP increase 55% to USD 65. We are raising our revenue outlook for 2021 due to our expectation for continued growth, the outperformance of our core business and newly launched states that were not included in our previous guidance.”
Elys Game Technology Corp commented last month on the status of legislation, Bills C-218 and C-13, to legalize single-event sports betting in Canada. The Company is continuing to monitor legislative developments regarding Bill C-218 that passed on February 17th with overwhelming bi-partisan support by a margin of 303 votes in favor to 15 votes against. Bill C-218 is now proceeding to hearings before the Justice Committee. Meanwhile, Bill C-13, an Act to Amend the Criminal Code, a similar bill regarding the legalization of single-event sports betting, is anticipated to be taken up by the House of Commons in the near future with additional hearings set for March 9th and 11th.
SOURCE FinancialBuzz.com
Bragg Gaming Group
GAMOMAT makes its debut in the U.S. market with Bragg Gaming Group
GAMOMAT, one of the leading independent software developers for online slot games, is proud to announce its debut move into the U.S. market through a strategic partnership with Bragg Gaming Group.
This is a major milestone in GAMOMAT’s global expansion strategy, as it brings its popular gaming knowledge to players across four initial states: Michigan, New Jersey, Connecticut, and Pennsylvania. Feng’s Fortune Flaming Link, Great Grizzly and Lava Lions will be included in the first tranche of games going live. Games have been specially developed for the U.S. market following extensive research and analysis of U.S. player tastes, with all titles aligned to these preferences.
In 2022, GAMOMAT and Bragg successfully entered the province of Ontario in Canada where momentum has been building since launch.
Founder and Managing Director Dietmar Hermjohannes of GAMOMAT Development GmbH, commented: “The regulated U.S. online market offers significant potential, and we are excited to bring our games to these vibrant jurisdictions. Our team’s commitment to analysing the diverse preferences of U.S. players has been pivotal in preparing a suite of games tailored to meet their demands.”
Matevž Mazij, Chief Executive Officer and Chair of the Board at Bragg Gaming Group, added: “Our partnership with GAMOMAT continues to thrive and we’re thrilled to now be working together in the U.S. GAMOMAT excels at balancing innovation with proven success and we expect great results.”
BetMGM
Bragg Gaming Expands in Pennsylvania with BetMGM
Bragg Gaming Group has announced the launch of its newest games and Remote Game Server (RGS) technology with BetMGM in Pennsylvania.
This marks the third state in which Bragg content is live with BetMGM, following earlier launches including in Michigan in 2022 and New Jersey in 2023 respectively. BetMGM players in Pennsylvania can now enjoy popular titles such as “Egyptian Magic” and “Fairy Dust” from Bragg’s Atomic Slot Lab proprietary content studio with further titles set to follow.
Players will soon gain access to content from Bragg’s Las Vegas-based proprietary content studio Wild Streak Gaming, as well as titles from multiple exclusive content partners under the Powered By Bragg program including King Show Games and Sega Sammy Creation.
This expansion underscores Bragg’s commitment to delivering innovative and engaging content to players across North America. All online casino games delivered on Bragg’s new RGS technology come with the Company’s Fuze promotional tools, which offer player engagement features on games such as free rounds, tournaments, and quests.
H2 Gambling Capital projects Gross Win of over $2.5 billion for the regulated online casino market in Pennsylvania in 2024, illustrating the tremendous growth potential in the region.
Garrick Morris, Senior Vice President, Commercial for the US and Canada, at Bragg Gaming Group commented: “We’re delighted to strengthen our existing collaboration with BetMGM to a third U.S. state, as part of our ongoing drive to provide the highest quality content to players in the U.S. iGaming market.
In developing high-quality engaging content, we want to contribute to the long-term success of our partners, and importantly provide a gaming experience which is exceptional for players.”
Oliver Bartlett, Vice President, Gaming, Product & Casino at BetMGM commented: “Bragg has been a great partner for BetMGM in Michigan and New Jersey, and it’s exciting to now be able to expand that relationship to Pennsylvania.
We’re confident that players in Pennsylvania will embrace this new online casino content which has proven to be popular in other regulated markets, with players already familiar with these titles from the land-based sector.”
Bragg Gaming Group
Bragg Gaming Appoints Robbie Bressler as Interim CFO
Bragg Gaming Group announced the appointment of Robbie Bressler as interim Chief Financial Officer, effective July 1, 2024.
Bressler brings a wealth of experience to the role, previously holding senior finance positions, including SVP Finance, at Bally’s Corporation, Gamesys Group plc, and The Intertain Group Ltd. He is currently serving as CFO of ForumPay Ltd., a crypto payment processing company. He began his career at Ernst & Young, where he spent over a decade in their financial services assurance group.
“We are delighted to welcome Robbie to the Bragg team as interim CFO. His deep expertise in finance and accounting, coupled with his extensive experience in the gaming industry, make him the ideal person to lead our finance function,” Matevž Mazij, Chief Executive Officer and Chair of the Board, said.
“I am excited to join Bragg at this pivotal time in the Company’s growth trajectory. Bragg has established itself as a leader in the global gaming technology and content space, and I look forward to working with the talented team to continue driving the Company’s financial performance, and further unlocking shareholder value,” Bressler said.
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