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Bragg Gaming Group Provides Update on Strong Q2 2021 Performance, and Operational and Strategic Development Progress

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Bragg Gaming Group, a global B2B gaming technology and content provider, today provided an update on several aspects of its business including preliminary revenue estimates for the three month period ended June 30, 2021.  

“Our financial growth as well as the operational and strategic development momentum we demonstrated in 2020, and in the first quarter of this year, continued in the second quarter,” said Richard Carter, CEO of Bragg. “We are making consistent progress with our growth initiatives including the introduction of new proprietary online games with better economics while expanding our footprint into new iGaming markets. The integration and performance of Wild Streak Gaming and the anticipated closing of the Spin Games acquisition later this year will position Bragg to leverage our existing technology platform, which includes in-demand player engagement tools, with new proprietary content and customer relationships positioning Bragg to address the large U.S. iGaming market opportunity. Our ongoing progress and success across the business has further established Bragg’s foundation to achieve long-term growth.”

Preliminary Q2 2021 Revenue

Bragg expects to report 2021 Q2 total revenues of approximately EUR €15.0 million (USD $17.7[1] million) pre-acquisition, representing a year-over-year increase of 23.5% compared to the 2020 second quarter period, and a 5.7% quarterly sequential increase. Reflecting this expectation, total revenues for the first half of 2021 are expected to be approximately EUR €29.2 million (USD $34.5 million). The Company’s revenue guidance for 2021 remains unchanged at EUR €47 million (USD $55.5 million) with adjusted EBITDA of EUR €4 million (USD $4.7 million) pre-acquisition.

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This updated financial outlook is based on information available to the Company as of the date of this release and is subject to the completion of quarterly closing procedures.

The Company is pleased with its overall operational progress and performance, and in particular, the performance of two new proprietary games that were launched in Q2 on its Oryx Gaming (“Oryx“) network from its in-house Oryx studio. In addition, the Company successfully launched a series of exclusive licenced casino games from third-party studios supported by the Oryx player engagement and data analytics tools.

The Company anticipates releasing its 2021 second quarter results on August 11, 2021, and will provide a more detailed update on the second quarter’s performance during its Q2 earnings call.

Updates on Wild Steak Games Acquisition and Closing of Spin Gaming Acquisition

Following the Company’s acquisition of Wild Streak in early June, Wild Streak has continued the revenue growth it demonstrated in FY 2020 and in Q1 2021 across both land-based and online casinos, with online revenue growth outpacing the growth in land-based revenue.

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In Q2 2021, Wild Streak launched two online casino games: Amazing Money Machine and Lucky Lightning. These games, together with Congo Cash and Temujin Treasures (launched in Q1 2021), have demonstrated solid performance (e.g., wagering, gross gaming revenue and unique players).

As of June 30, 2021, Wild Streak had seven online casino games live in key iGaming markets including in New Jersey, the UK and other regulated jurisdictions in Europe.

The Company continues to make progress with the U.S. and Canadian licencing process in connection with its previously announced acquisition of Spin Games LLC (“Spin“), and continues to expect to complete this acquisition in Q4 2021 pending approval from state gaming commissions. The Company has already been granted licensing approval from GPEB, the British Columbia regulator, subject to the closing of the Spin transaction. Further, the Company has submitted its licensing application to the New Jersey Gaming Commission and expects to submit its remaining two U.S. licensing applications, in Pennsylvania and Michigan, in Q3 2021.

The technical integration between Spin and the Company’s Oryx Hub distribution platform has been completed. The combined offering will deliver the benefits of Oryx’s advanced player engagement, data tools and platform technology alongside Spin’s U.S. market content and operator relationships and is expected to provide a differentiated and widely distributed iGaming product offering.

German Facing Market Regulatory Regime Update

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The anticipated new iGaming regulatory regime in Germany, the country where the Company derived the largest portion of its revenue in 2020, became effective on July 1, 2021. All operators in Germany are now required to comply with the new regulations.

The Company will continue to monitor how the German facing market adjusts to the new regulatory framework and is closely working with its German customers to help navigate the changing regulatory landscape.

NASDAQ Listing

The Company has filed an application for the direct listing of its shares on the Nasdaq Stock Exchange. The Company remains committed to this goal and expects to complete the direct listing of its shares on the NASDAQ exchange in Q3 2021.

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Canada

SGG Media Announces Exciting New PlayOJO Partnership

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Industry-leading social media marketing agency SGG Media is thrilled to announce an exciting new collaboration with the prominent Canadian online casino PlayOJO.

Under the new agreement, SGG Media is set to become PlayOJO’s exclusive provider of live-action casino shows. Leveraging SGG Media’s extensive network of over 2,500 sports and casino influencers, these shows will stream thrilling casino experiences directly to PlayOJO players. Viewers will have the opportunity to interact with the streamers and place bets while witnessing all the exciting live casino action offered by PlayOJO.

Following the live shows, SGG Media will create and share short video highlights of the most captivating moments from the games across various social media platforms, engaging with SGG’s combined following of over 75 million fans. This is the third largest database of sports social media followers, a huge portion of whom have crossover potential and interest In the online casino industry.

The marketing agency has achieved significant success with its casino streams in 2024. They launched their groundbreaking ‘Casino Stream’ show in February. This innovative show offers nightly live-action casino games, providing viewers with an immersive experience in the fast-paced world of roulette, blackjack, slots, and other online games.

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PlayOJO is one of the most popular legal online casinos in Ontario. The casino collaborates with major developers and content providers in the industry, offering a distinctive and enjoyable online casino experience to Ontarian’s, all of which will be highlighted as a result of this deal.  “We’re thrilled to partner with the SGG team as we introduce our live casino shows in Canada. This unique live show experience will highlight PlayOJO’s best-in-class online casino, featuring slots, live casino, and table games, truly demonstrating why PlayOJO is the home of feel-good fun!”, says the PlayOJO Team.

SGG Media and PlayOJO are dedicated to ensuring a fun and safe online casino environment for players. Both parties will display clear responsible gambling messages throughout the streams, helping to inform players to gamble legally and responsibly.

Speaking about this commitment to responsible gambling, Troy Paul, CEO of SGG Media, said, “We want to create a fun and exciting show, but also make sure viewers know this is a legal casino and players need to wager only money they can afford to lose as entertainment.”

On the deal, Paul said: “We are extremely excited to begin working alongside PlayOJO. It is a brand that wants to drive innovation in the industry, sharing our vision for a more community-driven online casino experience.”

Through our streams, our micro-influencers and content creators will help shine a spotlight on PlayOJO’s fantastic gaming experiences while also growing a community that will want to return for more.

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This extends beyond the streams, with our huge network of micro-influencers sharing video content across their platforms, ensuring engagement continues after the stream goes off the air.”

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Great Canadian Entertainment and Petroglyph Development Group Announce Agreement for Purchase and Sale of Elements Casino Victoria

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Great Canadian Entertainment announced that it has signed a definitive agreement to sell Elements Casino Victoria to Petroglyph Development Group Ltd. (PDG) in yet another historic transaction for both parties.

This transaction comes on the heels of the previously announced definitive agreement for Great Canadian Entertainment to sell its other landmark property and business on Vancouver Island, Casino Nanaimo, to PDG. PDG is a wholly owned corporation of the Snuneymuxw First Nation (the Nation) and is dedicated to realizing the economic potential of the Nation.

Great Canadian’s Board of Directors unanimously approved the transaction, which remains subject to customary closing conditions as well as customary approvals by the regulatory authorities. The Company will provide transition services to PDG for up to two years post-closing.

“We are very pleased to have executed this second historic agreement with the Snuneymuxw First Nation. From its original opening as View Royal Casino in 2001, to major expansion and rebranding of the property in 2018 as Elements Casino Victoria, we are looking forward to the next chapter for this beautiful and historic Vancouver Island destination under PDG’s stewardship. We are excited to work with the Petroglyph team during the transition period to ensure yet another outstanding outcome for the community, our guests, our team members, and the Nation,” said Matt Anfinson, Chief Executive Officer of Great Canadian Entertainment.

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“We celebrate our growing partnership with Great Canadian and our continued progress toward building a strong Snuneymuxw economy that provides a solid foundation for Snuneymuxw self-determination and nationhood. With the acquisition of a second casino operation, we continue to honour the decades of work by past Snuneymuxw leadership who tirelessly pursued this goal, as we begin to realize various opportunities that contribute to optimizing Snuneymuxw socioeconomic potential. Our Nation is sharply focused to make investments that bring returns to our people and builds our presence in the economy so that Snuneymuxw takes its rightful place. Today, we also celebrate our partnership with the B.C. Lottery Corporation in our shared pursuit to support the growth of the provincial economy and First Nation participation,” said Snuneymuxw Chief Mike Wyse.

Erralyn Joseph, President of PDG, said: “This measured acquisition is one that PDG celebrates on our quest to build a corporate enterprise that reinvests into Snuneymuxw First Nation. With a strong operating plan that includes risk mitigation and yields sizable gains, PDG is well on its way to generating wealth for Snuneymuxw and taking a seat at the local, regional, provincial, national and global economic tables. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing the region’s economic growth in support of all its residents.”

Ian Simpson, Chief Executive Officer of PDG, said: “Acquiring this significant asset will unlock unprecedented economic potential for Snuneymuxw and PDG, paving the way for transformative growth in Snuneymuxw’s economy and the profits that PDG returns to our Nation.”

McMillan is serving as legal counsel to Great Canadian. McCarthy Tétrault is acting as legal counsel and KPMG Corporate Finance Inc. is acting as financial advisor to PDG.

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Edmonton Oilers and Play Alberta Extend Partnership

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The Edmonton Oilers and Play Alberta announced a new agreement that makes Play Alberta the exclusive sports betting and online gaming partner of the Edmonton Oilers.

The deal will see the Play Alberta logo featured prominently on the Oilers home jerseys and GameSense, AGLC’s responsible gambling program, displayed on the helmets of the Oilers for each home game.

“Play Alberta is proud to continue its partnership with the Edmonton Oilers over the next several seasons. We value our patrons and the fans of the Oilers and are thrilled to see PlayAlberta.ca, Alberta’s trusted gambling platform along with the best-in-class responsible gambling program – GameSense – as prominent fixtures on the Oilers uniformsuniforms,” said Kandice Machado, Chief Executive Officer at AGLC.

PlayAlberta.ca is a leader in the iGaming landscape in the province. All money generated through the site goes to the General Revenue Fund, which supports programs and services that Albertans rely on every day. In addition, the website has integrated AGLC’s GameSense and Self-Exclusion programs to better support players in their gambling journey.

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“We are proud to call Play Alberta the official sportsbook of the Edmonton Oilers. With the revenue generated by Play Alberta going to valued services and programs that help enrich the lives of Albertans, donning the Play Alberta logo on our iconic home jersey is a testament to our long-term commitment to communities across Oil Country,” said Stew MacDonald, President & Chief Revenue Officer, OEG Sports & Entertainment.

The relationship between the Edmonton Oilers and PlayAlberta.ca will allow fans to experience the Play Alberta and GameSense brands through promotions in Rogers Place and ICE District, as well as giveaways throughout the season, including game tickets and memorabilia.

This past year, PlayAlberta.ca generated $235 million in net sales, an increase of more than $42 million from 2022-23. That number contributes to the $1.5 billion in total gaming revenue that’s sent to Alberta’s General Revenue Fund and supports programs and services that Albertans rely on every day.

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