Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) Driving Innovation in the Evolving iGaming Landscape

Have you ever fantasized about riding the wave of an industry on the brink of a major breakthrough?

Picture a sector previously confined by stringent regulations, but now set free and flourishing in seven states in the US1 and beyond. There’s a buzz of anticipation as another quartet of states stand on the threshold, eager to join the surge.

Imagine the vast potential within the US should more states give the green light to this industry.

And it’s not just in the US, this market is reaching across the globe.

This is a sector transitioning from the tangible world to the realm of digital technology.

It’s a realm where convenience and access come together, reshaping the consumer experience.

This market is poised to grow to $3.15 billion this year, with a target of approximately $9 billion by 2032.2

What we are gazing upon is a growth opportunity rarely matched by other sectors.

At the heart of this accelerated growth lies one crucial component for triumph…

Who holds the power over the software steering the sector?

In an environment notorious for its complex licensing and processing challenges, those who wield the software enjoy a commanding position. As software providers, they can scale rapidly, skillfully sidestepping the regular bureaucratic hurdles instead of acting as operators.

Their financial reward is gleaned from each transaction executed by their partners.

Only the passage of time will reveal the true potential, but the current trajectory is promising, with an impressive €17 Billion in transactions processed in 2022 and $22 million in revenue in the first quarter of this year.

Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) is a fast-growing content-driven iGaming technology provider with some serious bragging rights.

Not only is this company supplying its proprietary content to gaming giants like BetMGM,3 FanDuel, DraftKings,4 888 Holdings, PokerStars and Caesars Entertainment,5 they are licensed and operational in regulated markets in the US, Canada, Latin America and Europe.

This company is also consistently rolling out exciting new content for this growing market, including 33 exclusive content titles in the first half of 2023 alone, 15 of which came from Bragg Studios. The other titles came from its high-profile content partners which include  Bluberi, Kalamba, King Shaw and GamingArts, to name a few.

It’s no wonder Bragg saw its revenue balloon at a CAGR of 60% between 2019 and 2021, and has been achieving record-breaking revenue growth since.

That’s really just the tip of the iceberg for what this company has to offer. In fact, let’s dive into some other key points that put Bragg miles ahead of the competition.

7 Convincing Factors That Set Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) Apart in the iGaming Sphere:

  • Impressive Financial Growth: Bragg revenue and gross margin have continued to see significant increases, with Q1 2023 gross profit rising by 22% to $13.4 million with a profit margin of 53.5%. The company projects to bring in $102.2-$106.6 million for FY 2023.

  • Exclusive Gaming Content: Bragg has a growing and diverse portfolio of high-performing, data-driven gaming titles from in-house brands Wild Streak Gaming, Spin Games, Atomic Slot Lab, Indigo Magic and Oryx Gamingas well as reputable partner studios like Bluberi and Kalamba, setting them apart in the market.

  • Impressive Client and Partnership Roster: Bragg has supply partnerships with industry’s biggest players including BetMGM, DraftKings, FanDuel, PokerStars and many more, strategically positioning itself in the booming market.

  • Successful Expansion into New Markets: Bragg hassuccessfully entered multiple regulated iGaming markets globally including New Jersey, Pennsylvania, Michigan, Connecticut, Ontario, the United Kingdom, the Netherlands, Germany, Sweden, Spain, Malta and Colombia. Bragg aims to address 80% of the regulated North American iGaming market by the end of 2023.

  • Strong International Relationships: Collaborations with significant international entities like BetCity and Entain have played a crucial role in Bragg’s operations and growth.

  • High-Level Jurisdiction Standards: Bragg’s licensing in top jurisdictions underscores its reputation as a trustworthy player in the iGaming industry.

  • Experienced Leadership Team: Bragg’s leadership team includes Yaniv Sherman, formerly of 888 Holdings plc, one of the largest Gaming companies in the world, brings 15+ years of experience in the gaming industry, driving the company’s success and growth.

Breaking New Ground In The US Market

In the rapidly evolving landscape of online gaming, Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) is carving out a unique niche.

It seems like every couple of weeks, Bragg is rolling out content with one of its major clients in yet another legal iGaming jurisdiction. This company is at the helm of legalized iGaming markets, rolling out new exciting content with one of its top-tier partners.

What sets Bragg apart in the crowded online gaming space is its unique business model. Unlike many companies that operate directly with consumers (B2C), Bragg stands as a business-to-business (B2B) provider.

The company creates the software that powers the games, thereby becoming a valuable partner to many companies in the industry. This unique position allows Bragg to grow alongside its partners, rather than compete with them.

In fact, Bragg’s customers include many of the top brands that serve the North American iGaming markets, which are worth about US$6.5 billion in 2023.6

On August 1, Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) launched its new proprietary content and Remote Games Server (RGS) technology with FanDuel in Michigan and Connecticut – two markets that are projected to generate aggregate gross gaming revenue of over US$2 billion this year.

This means, when clients win, Bragg also wins. And, as you can see from the chart below, its clientele aren’t doing too shabby.

As the company continues to penetrate the US market, it’s not just expanding its own business – it’s actively reshaping the iGaming industry.

After combining Spin Games, Wild Streak Gaming, and Oryx Gaming under the Bragg Gaming Group name, the company started rolling out a bunch of new content.

Now let’s take a look at how Bragg stacks up against other players in the industry.

The Price-to-Earnings (P/E) ratio is a key metric used by investors to determine the relative value of a company’s shares. A lower P/E ratio could mean that a company’s stock is undervalued, or it could reflect a pessimistic outlook for future earnings.

As you can see from the chart above, Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) has the lowest P/E ratio among these companies compared to its peers.

Another thing that sets Bragg apart is its proven ability to help online gaming businesses succeed. One of its biggest wins was taking BetCity, a Dutch online gaming business, from a brand-new company into a business that was acquired for a whopping €450 million17 by Entain, a large UK-based company.

The ongoing relationship between Bragg Gaming Group, BetCity, and Entain shows Bragg’s commitment to staying strong in the gaming industry. It achieves this by driving new ideas and creating long-lasting partnerships. This sets Bragg apart from its competitors and shows why it’s a leader in its field.

Creating A Name For Itself In Top International Jurisdictions

Of course it isn’t just its success in the United States that makes Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) stand out. This company is making a name for itself in the iGaming industry by setting high standards in top jurisdictions around the world.

This means the company is getting the right licenses to operate in places where the rules are strict, but the opportunities are big. This shows that Bragg is a trustworthy and reliable player in the industry.

Bragg has already set up shop in the Netherlands and Switzerland, two countries known for their high standards. But they’re not stopping there, expanding into many other places like the UK, Portugal, Spain, and Belgium.

The company is already executing its plan to move into new markets including Italy, Germany, Czech Republic, Denmark, Sweden, Greece, Georgia (the country), Mexico, Colombia, and Brazil.

On July 26, Bragg inked a new global distribution deal with 888 Holdings, a leading betting and gaming company that owns several high-profile brands like William Hill, 888, Mr Green, and SI Sportsbook. This agreement boosts their existing partnership, enabling Bragg‘s exclusive gaming content to be launched with William Hill in the UK, Mr Green in Italy, Sweden, Denmark, and 888casino in Italy.

With this move, Bragg enhances the distribution of its unique content in various regulated markets, showcasing top titles from Bragg Studios brands like Atomic Slot Lab and Indigo Magic, along with its Powered by Bragg partners.18

In April, Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) also expanded its content to Italy, Europe’s second-largest online gaming market, with the country’s premier local operator Microgame.19

That same month, Bragg went live in Mexico alongside Caliente Interactive, the market’s iGaming leader, offering online games, including its original and exclusive third-party content. The collaboration with Caliente Interactive represents Bragg’s ongoing efforts to expand its own and exclusive content across North America.20

In February, Bragg rolled out content with Napoleon Sports and Casino in Belgium.21 Napoleon, the largest operator in the established market, is part of the Superbet Group. In 2021, it was purchased by the pan-European superpower.

The collaboration adds to Bragg‘s strong track record of entering new worldwide regulated markets with market leaders.

Unprecedented Growth And Bold Global Expansion

Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) has been on a roll, and its financial results are proof of that. In the first three months of 2023, they saw their revenue climb by 18.1% to US$25.2 million. That’s a significant increase from the US$21.3 million from the same period in the previous year.

But that’s not all. The amount of money wagered by Bragg’s customers also shot up by 35.7%, reaching a staggering US$5.7 billion.

This is proof that there’s a lot of action happening on their platform.

Bragg’s gross profit, which is the money left after subtracting the cost of producing their products, rose by 22.0% to US$13.4 million. This means that for every euro they earned, they were able to keep 53.5 cents as gross profit—That’s a 170 basis point improvement from the previous year.

Bragg Gaming Group isn’t just growing in terms of revenue and profit. They’re also expanding their reach into new markets. In the first quarter of 2023, they launched new content in New Jersey with partners like DraftKings, Caesars, Resorts, and Mohegan Sun. They also debuted in the Belgium iGaming market in February and the Mexico iGaming market in April. They even went live in Pennsylvania in May with Rush Street Interactive.

Looking ahead, Bragg Gaming Group is optimistic about its growth. The company expects its revenues to reach US$102.2-106.6 million in 2023 and anticipate Adjusted EBITDA to increase by 20% to 36% over last year to US$15.9-18.1 million.

Driving Success With Tier One Content Partners

Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) is driving its success by teaming up with top-tier content partners. These partnerships are a big deal because they help Bragg reach more people in more places. Some of their high-profile partners include Bluberi, Kalamba, King Shaw and GamingArts. These partnerships have a big impact on Bragg’s business in Europe and around the world.

One of the games that Bragg helped launch in the US with Bluberi, Devil’s Lock has become one of the most popular games in the country.

Bragg has also rolled out its games in Belgium with Napoleon Sports. Napoleon is a big name in Belgium and is part of the Superbet Group, a major player in Europe. This partnership helps Bragg reach more players in Belgium, where the iGaming market is projected to be worth US$824.8M in 2023.22

Bragg has also teamed up with Betsson Group, one of the biggest operators in Europe. Thanks to this partnership, players across Betsson’s brands can access a wide range of unique games from Bragg and its partner studios. Some of the top games include Dreamy Genie by Atomic Slot Lab and Sea of Plenty by Indigo Magic.

Bragg’s Content Ecosystem: A Recipe For Success

The success of Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) is largely driven by its robust content ecosystem and its ongoing development of proprietary and exclusive games, setting it apart from many competitors in the iGaming industry.

The value of this approach is evident in the broader industry. Companies with strong, unique content portfolios are attracting significant investment and commanding high valuations.

For instance, Aristocrat agreed to acquire NeoGames for $1.8 billion,23 a deal expected to enhance Aristocrat’s earnings per share in the first full year of ownership. This acquisition underscores the high value placed on unique and compelling content in the iGaming sector.

Bragg’s commitment to expanding its content ecosystem aligns with these industry trends. By prioritizing the development of proprietary and exclusive games, Bragg is strategically positioning itself for growth and success in the rapidly evolving iGaming market. This focus on unique content not only differentiates Bragg but also enhances its appeal to major iGaming platforms seeking to offer their users a diverse and engaging gaming experience.

Stacked Leadership Team With Extensive Gaming Experience

For a cutting-edge tech sector to succeed, not only is dev talent a major advantage, but also regulatory expertise as well.

This is why Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) has a large competitive advantage. They have not only an extremely talented brain trust behind the scenes but also the connections and know-how to seamlessly enter new markets while remaining under full regulatory compliance.

BRAGG’s leadership team includes:

YANIV SHERMAN

CHIEF EXECUTIVE OFFICER

Sherman, appointed as Bragg Gaming Group’s CEO in July 2022, brings over two decades of leadership experience in the gaming, software, and online gaming sectors. Before joining Bragg, Sherman served as the Senior Vice President and Head of U.S. at 888 Holdings plc, one of the largest Gaming companies in the world, from 2018 to 2021. During his nearly 15-year tenure at 888 Holdings, he held various senior roles in both Europe and the U.S.

LARA FALZON

PRESIDENT AND CHIEF OPERATING OFFICER

Falzon has a decade-long track record in strategic roles within the B2C and B2B iGaming sectors, working with both public companies and fast-growing startups. She previously served as the Group Commercial CFO of leading online slots developer NetEnt, playing a key role in the company’s sale to Evolution Gaming. Before that, she was the Group CFO of Red Tiger Gaming.

DOUG FALLON

GROUP DIRECTOR OF CONTENT AND FOUNDER, WILD STREAK GAMING

Doug Fallon joined as Group Director of Content when in June 2021 Bragg acquired Wild Streak Gaming, a premium slots studio founded by Doug in 2015. With over 20 years’ experience in the gaming industry, Doug’s background includes over ten years’ experience at Aristrocrat Technologies including in global marketing as VP Global Games Marketing, in game design as VP Creative Direction and in product design and management as VP Global Core Games.

RECAP: 7 Reasons to Put Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) On Your Watchlist

  • Strong Financial Performance: Bragg financial performance continues to shine. In Q1 2023, they reported a gross profit jump of 22% to $13.4 million, boasting a profit margin of 53.5%. For FY 2023, the company’s projected revenue is an impressive $102.2-$106.6 million.

  • Distinctive Gaming Portfolio: Bragg stands out in the gaming industry with its diverse and rapidly expanding portfolio. Partner studios like Bluberi and Incredible Technologies Gaming further enrich their offerings.

  • Respected Partnerships: Bragg has forged supply partnerships with big names in the industry, like BetMGM, DraftKings, FanDuel, and PokerStars.

  • Successful Market Expansion: Bragg has successfully made its mark in several regulated iGaming markets worldwide. They have a presence in New Jersey, Pennsylvania, Michigan, Connecticut, Ontario, the United Kingdom, the Netherlands, Germany, Sweden, Spain, Malta, and Colombia. They also have an ambitious goal to cover 80% of the regulated North American iGaming market by the end of 2023.
  • Solid International Collaborations: Bragg‘s fruitful collaborations with international entities such as BetCity and Entain have been pivotal to its growth and operations.
  • High-Caliber Licensing: Bragg‘s licensing in leading jurisdictions bolsters its standing as a trusted player in the iGaming industry.

  • Expert Leadership: The leadership at Bragg is made up of industry veterans. Their vast experience in the gaming industry fuels the company’s ongoing success and growth.

The iGaming industry is rapidly evolving, with Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAGNASDAQ:BRAG, TSX:BRAG) standing out as a key player. Given the growing demand for online gaming and the company’s strategic expansion into new markets, this narrative is certainly worth your attention.

Now is the perfect time for you to conduct your own research on this innovative company that has successfully navigated the complexities of the iGaming industry. Bragg Gaming Group, with its robust content ecosystem and strategic partnerships, is well-positioned to make a significant impact in the global iGaming market.

Stay informed about Bragg Gaming Group’s journey and milestones by subscribing for email updates.

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This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect expectations regarding Bragg Gaming Group future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Bragg Gaming Group industry; (b) market opportunity; (c) Bragg Gaming Group business plans and strategies; (d) services that Bragg Gaming Group intends to offer; (e) Bragg Gaming Group milestone projections and targets; (f) Bragg Gaming Group expectations regarding receipt of approval for regulatory applications; (g) Bragg Gaming Group intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Bragg Gaming Group expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Bragg Gaming Group business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Bragg Gaming Group ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Bragg Gaming Group ability to enter into contractual arrangements; (e) the accuracy of budgeted costs and expenditures; (f) Bragg Gaming Group ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Bragg Gaming Group to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Bragg Gaming Group operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact Bragg Gaming Group business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Bragg Gaming Group business operations (e) Bragg Gaming Group may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, the Website Host undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise.

HISTORICAL INFORMATION

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