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Bragg Gaming
BRAGG GAMING SEES MULTI-YEAR GROWTH; RAISES 2022 REVENUE OUTLOOK
Remains on Track to Grow 2022 Year-end Total Addressable Market Approximately Six-Fold Since Beginning of 2021
Expects 2021 Fourth Quarter Revenue of Approximately EUR €15.4 million (USD $17.6 million) and Adjusted EBITDA of Approximately EUR €1.3 million (USD $1.5 million)
Expects 2021 Full Year Revenue of Approximately EUR €58.0 million (USD $66.1 million) and Adjusted EBITDA of Approximately EUR €7.0 million (USD $8.0 million)
Raises Full Year 2022 Revenue Outlook to Range of EUR €68-72 million (USD $78-82 million) and Adjusted EBITDA Outlook to Range of EUR €9.5-10.5 million (USD $10.8-12.0 million)
Bragg Gaming Group, a global iGaming technology and content provider, reported that it sees multi-year growth in its business based on the success of its ongoing iGaming content and platform expansion and new market strategy. Momentum across Bragg’s current operations resulted in expected 2021 full year revenue and Adjusted EBITDA exceeding the Company’s previously provided guidance. Bragg also raised its 2022 full year revenue and Adjusted EBITDA guidance, which now reflect year-over-year growth of 21% and 43%, respectively compared to expected 2021 full year revenue and Adjusted EBITDA, and provided an update on the expected timing of the closing of its proposed acquisition of Spin Games.
- Bragg expects to report fourth quarter 2021 revenue of approximately EUR €15.4 million (USD $17.6 million) and Adjusted EBITDA of approximately EUR €1.3 million (USD $1.5 million).
- As a result, the Company expects to report full year 2021 revenue of approximately EUR €58.0 million (USD $66.1 million) and Adjusted EBITDA of approximately EUR €7.0 million (USD $8.0 million).
- The updated full year 2021 revenue and Adjusted EBITDA expectations compare to the Company’s previously provided guidance of EUR €55-56 million (USD $63-64 million) and Adjusted EBITDA of EUR €6.6-6.8 million (USD $7.5-7.8 million).
- The expected 2021 revenue and Adjusted EBITDA results represent growth of 25% and 26%, respectively, versus the full year 2020.
- Bragg also increased its guidance for full year 2022 revenue to a range of EUR €68-72 million (USD $78-82 million) from the prior range of EUR €59-61 million (USD $67-70 million). The midpoint of the new full year 2022 revenue guidance represents growth of 21% over the expected full year 2021 revenue.
- The Company also raised its guidance for full year 2022 Adjusted EBITDA to a range of EUR €9.5-10.5 million (USD $10.8-12.0 million) from the prior range of EUR €6-7 million (USD $7-8 million). The midpoint of the new full year 2022 Adjusted EBITDA guidance represents growth of 43% over the expected full year 2021 Adjusted EBITDA.
- Bragg expects to complete the acquisition of Spin Games by the end of the first quarter of 2022.
- The anticipated timing of the closing of the acquisition is reflected in the Company’s revised higher full year 2022 revenue expectation even though the previously provided 2022 revenue guidance contemplated an earlier closing of this transaction.
- Since January 2021, Bragg’s Gaming has gone live with its player-popular content in the following regulated iGaming markets: Switzerland, Germany, Greece, the Netherlands, the United Kingdom, and the Czech Republic.
- H2 Gambling Capital projects the aggregate 2022 online casino total addressable market (“TAM”) for these six countries will be approximately USD$9.5 billion.
- The Company’s current TAM is approximately USD$12.5 billion and Bragg expects this to further increase to more than USD$18.0 billion by the end of 2022, reflecting its expectations for initial activations this year in several U.S. iGaming markets and in Ontario, as well as in other global iGaming markets.
Yaniv Spielberg, Chief Strategy Officer for Bragg Gaming, commented, “The ongoing execution of our iGaming content and platform expansion and new market initiatives are driving Bragg’s consistent operating momentum leading to near- and long-term financial growth. These factors contributed to stronger than expected financial results in the 2021 fourth quarter and as a result we now expect to exceed our previously provided guidance for full year 2021 revenue and Adjusted EBITDA.
“Looking forward, our deep bench of experienced senior management and operational teams continue to implement strategies that are leading to new areas of growth, as demonstrated by the strong initial performance we are achieving in our recently entered iGaming markets. As a result of the ongoing momentum in our business, we are raising our outlook for full year 2022 revenue range by approximately 17% at the midpoint, compared to our previously provided guidance, with the midpoint expectation of EUR €70 million representing 21% year-over-year growth.
“As we move closer to completing our acquisition of Spin Games, whose existing relationships with leading U.S. iGaming operators will significantly accelerate our entry into the market, and continue to make consistent progress with entering new regulated global iGaming markets, we remain on track to substantially grow our year-end 2022 TAM approximately six-fold compared to the beginning of 2021 to more than USD$18 billion. We also expect our TAM will continue to expand as new states approve iGaming over the next several years. As such, Bragg is favorably positioned to achieve our increased 2022 financial projections and to then continue to accelerate our growth in 2023.”
Bragg Gaming
Bragg Gaming and Light & Wonder Agree to an International Distribution Deal
![bragg-gaming-and-light-&-wonder-agree-to-an-international-distribution-deal](https://igamingradio.com/wp-content/uploads/2024/04/130449-bragg-gaming-and-light-wonder-agree-to-an-international-distribution-deal.png)
Collaboration will see Bragg content featured on Light & Wonder’s ecosystem
Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced it has signed an international online casino content distribution agreement with Light & Wonder.
The agreement will see high-performing games from Bragg’s proprietary studios, Atomic Slot Lab, Indigo Magic, Wild Streak Gaming and Spin Games added to Light & Wonder’s online ecosystem.
Exclusive content from the supplier’s Powered by Bragg partners will also be integrated, providing Light & Wonder with a wide selection of highly localized and unique titles.
The deal will encompass numerous European regulated markets as well as the USA and Canada, significantly growing the reach of Bragg’s content to new audiences and strengthening the supplier’s casino offering with new titles.
Matevž Mazij, Chief Executive Officer at Bragg Gaming Group, commented: “Light & Wonder is a world-leading platform and games provider, and this distribution deal will be hugely beneficial for us, as our content will be in front of new audiences through its large operator network boosting exposure of our games.
“We have focused on strengthening our content portfolio over the last year and this partnership is a testament to the popularity and appeal of our games which have been proven successful in markets globally.”
Steve Mayes, Senior Director Digital Partnerships at Light & Wonder, said: “We are thrilled to be working closely with Bragg, and are looking forward to offering their content across our network. This deal is a great showcase for the power of our aggregation platform and global scale. We already have a number of key operators lined up to launch Bragg games and excited to further expand our portfolio of games partners.”
Bradley Berman King Show Games President
Bragg Gaming to Bring King Show Games Land-Based Slots to Online Players in the U.S.
![bragg-gaming-to-bring-king-show-games-land-based-slots-to-online-players-in-the-us.](https://igamingradio.com/wp-content/uploads/2024/04/129818-bragg-gaming-to-bring-king-show-games-land-based-slots-to-online-players-in-the-us.png)
Bragg Gaming Group announced the launch of King Show Games (KSG) content distributed via Bragg Gaming technology in the U.S. market, bringing a host of games previously only accessible to land-based casino players into the online space.
The first games distributed in the U.S. during the first quarter of 2024 include titles well-known and already enjoyed by U.S. players such as Stinkin’ Rich , Lucky Larry’s Lobstermania
, Phone Tag
and Wedding Party
, with other titles set to follow.
Some of these titles are no longer available to land-based players, presenting a unique opportunity for KSG to both capitalize on feelings of affinity and nostalgia among players for these games and the expansion of online gaming in the U.S.
With a 25-year history of producing slots for the U.S. land-based casino market, KSG is well placed to deliver a truly omnichannel experience to players as its slots catalog transitions online with Bragg Gaming.
All content is supplied via the Bragg Remote Game Server (RGS), which is licensed, certified and approved to deliver casino and slots-based games across more than 25 regulated gaming markets in North America, Europe and globally.
Games on Bragg’s RGS are distributed via the Bragg HUB content delivery platform and is also seamlessly integrated into the recently upgraded Bragg Player Account Management (PAM) igaming platform (including full managed services) for online casino, sportsbook, lottery and omnichannel operations.
These game releases will also automatically have promotional tools provided within Bragg’s Fuze marketing technology included, tools which increase user engagement by enabling automated, real-time in-game gamification, conversion and retention mechanisms.
Bragg is swiftly becoming the go-to-content supplier to the land-based casino industry in the U.S. with many heritage land-based casino games now available online via Bragg’s RGS technology.
As an international supplier of iGaming content, Bragg Gaming offers casino content from in-house studios as well as multiple studio partners building and releasing games exclusively distributed by Bragg, while its constantly updated aggregation product boasts over 9,000 titles.
Bragg already counts prominent U.S. land-based games developers such as Bluberi, Incredible Technologies, and Sega Sammy Creation as clients, while its Wild Streak Gaming and Atomic Slots Lab proprietary studios also bring unique titles with a land-based heritage to the online world.
This forms a key part of Bragg’s strategic aim of becoming a leading slots developer and distributor in the USA and Canadian markets.
Doug Fallon, Bragg Group Director of Content and Founder, Wild Streak Gaming commented: “King Show Games is a proven provider of slot content to land-based operators in the U.S. and builds on our strategic aim of further expansion into the jurisdiction with top quality content. We’re excited to partner with King Show Games and bring these well-loved land-based games to customers online.”
Bradley Berman, King Show Games President commented: “We’re thrilled to bring back these slot titles to players in our home market of the U.S. for the first time with Bragg online. I’m excited to see how they will be received by our customers and looking forward to the launch of further titles in the pipeline.”
Known primarily in the land-based casino market, KSG also offers social casino content to players in the U.S. and Canada.
BetMGM
Bragg Gaming Launches New Content Portfolio with BetMGM in New Jersey
![bragg-gaming-launches-new-content-portfolio-with-betmgm-in-new-jersey](https://igamingradio.com/wp-content/uploads/2023/11/125051-bragg-gaming-launches-new-content-portfolio-with-betmgm-in-new-jersey.png)
Launch with Market-Leading Operator Extends North American New Content Rollout
Bragg Gaming Group announced that it has launched its new content and Remote Game Server (“RGS”) technology with BetMGM in New Jersey.
Egyptian Magic from Bragg’s Atomic Slot Lab studio is now available to BetMGM’s New Jersey customers at https://www.nj.betmgm.com, with further titles from the Company’s proprietary games studios and partner studios under its ‘Powered by Bragg’ program expected to roll out in the coming weeks. The content rollout is powered by the launch of Bragg’s new RGS technology with BetMGM.
Through the launch of Bragg’s new content with BetMGM in New Jersey, the Company has extended an existing collaboration with a leading operator in North America. Bragg also provides iGaming content for BetMGM players in Michigan and Pennsylvania.
According to H2 Gambling Capital, the interactive casino market in New Jersey is on track to generate US $1.8 billion in Gross Win in 2023.
Kunal Mishra, Chief Operating Officer, Americas at Bragg Gaming Group, said: “We have placed an emphasis on expanding our existing relationships with North American iGaming operators to include content from our new proprietary studios and exclusive games from our third-party studio collaborations. The new launch with BetMGM extends our successful execution of this strategy, which we expect will help drive consistent, long-term growth. We are pleased to now provide their New Jersey players with our high-quality, engaging content.”
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