Bragg Gaming Group which is a leader in delivering and accumulating online casino content for the global gambling industry, has now released its fiscal numbers for the first quarter of 2023. It was another prolific three-month period for the company as revenue increased by 18.1%. In addition to that, the provider also provided growth targets for 2023 revenues and more.

Based in Ontario, the company is a provider of iGaming technology to both online and land-based gaming operators. It offers proprietary and exclusive content through Bragg Studios and Powered by Bragg titles. Its omnichannel Player Account Management platform is supported by expert in-house managed operational and marketing services. Bragg is licensed and operational in multiple regulated iCasino markets globally.

  • Fiscal Numbers from Q1

In its report, the iGaming leader disclosed revenue of US$25.2 million which was a hefty improvement over the same quarter in 2022 with US$21.3 million. Meanwhile, betting revenue generated by users reached US$5.7 billion, which was a massive jump from theUS$4.2 billion in year-over-year metrics. Gross profit reached US$13.4 million from US$11 million in 1Q22.

Furthermore, the report saw a net loss for Q1 of US$0.5 million, which was a better result from US$0.8 million in 2022. Adjusted EBITDA reached US$4.3 million or 28.1% more than US$3.3 million in Q1 of 2022. Meanwhile, cash flow from operations amounted to US$7 million or US$2.7 million more than the one from Q2 last year.

Yaniv Sherman, Chief Executive Officer of the company shared the provider continued its momentum in Q1 of 2023 with the success of their initiatives to diversify the business towards a content-driven iGaming solution. He explained Q1 of 2023 was a record one in terms of revenue, and said the results included the benefit of growing contributions from higher-margin proprietary and exclusive third-party games.

In its latest announcement, the company also recapped operational highlights from Q1 of 2023. Some of the highlights include the integration of new technology via its Remote Game Server in New Jersey with DraftKings, Caesars Entertainment, Resort World, and Mohegan Sun. The company also debuted as iGaming brand in Belgium in February with Naploeon Sports and Casino.

However, that is not all, as the provider also continued its expansion in Switzerland by integrating content with local iGaming operators. The provider also continued on a busy schedule in the second quarter of 2023. A highlight from April 2023 includes its launch in Mexico’s regulated online casino market with the market-leading brand Caliente Interactive.

  • Teaming Up with Microgame

Also in April, the company incorporated a broad selection of its iGaming content in Italy, which is the continent’s second-largest online market. Its launch in the country was facilitated by Microgame which is the leading betting operator. According to estimations from H2 Gambling Capital, Italy is slated to produce US$2.4 billion of iGaming revenue in 2023. 바카라사이트

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post Genting cancels 2 casino cruises due to Hong Kong COVID measures
Next post Westrock County in favor of Camrose casino relocation