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The Fire Joker has returned, his blazing grin wider than ever. Hes back in control of the reels, where classic fruits and symbols light up under his fiery touch. But this time, theres more than just mischief in the air. The heat has intensified, the stakes are higher, and this scorching slot is cranked up to a full 100.

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Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)

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Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)

 

Bragg Gaming Group, a global B2B content-driven iGaming technology provider, reported record revenue for the third quarter of 2024.

Summary of 3Q24 Financial and Operational Highlights

Euros (millions)(1) 3Q24 3Q23 Change
Revenue € 26.2 € 22.6 15.9 %
Gross profit € 14.0 € 11.9 18.1 %
Gross profit margin 53.5 % 52.5 % 99 bps
Adjusted EBITDA(2) € 4.1 € 3.8 7.1 %
Adjusted EBITDA margin 15.6 % 16.9 % (129) bps
Operating Income (Loss) € (0.4) € (2.1) (81.0) %

(1) Bragg’s reporting currency is Euros. The exchange rate provided is EUR 1.00 = USD 1.12. Due to fluctuating currency exchange rates, this reference rate is provided for convenience only.
(2) “Adjusted EBITDA” is a non-IFRS measure. For important information on the Company’s non-IFRS measures, see “Non-IFRS Financial Measures” below.

Chief Executive Officer Commentary
Matevž Mazij, Chief Executive Officer for Bragg, commented, “The third quarter marked another period of strong growth and record results for Bragg. Revenue grew 16% year-over-year, gross profit increased 18%, and Adjusted EBITDA rose 7%. In the U.S., strong third quarter revenue gains from content distribution helped drive a 40% global increase in proprietary online content revenue year-over-year.

“Additionally, we announced today that the Board of Directors has unanimously decided to conclude its review of strategic alternatives for Bragg. After extensive evaluation and deliberation, the Board determined that the ongoing execution of the Company’s strategic plan is the best way to maximize value for shareholders at this time.

“Since stepping in as Chairman 16 months ago and then as CEO 14 months ago, we’ve transformed our executive team, restructured commercial operations, and sharpened our sales strategy with a targeted, jurisdictional approach. These decisive actions position us to drive growth and capture market opportunities with greater precision and impact. Under new leadership, we’ve built a strong pipeline of tier 1 opportunities across key markets and key products, positioning Bragg for accelerated top- and bottom-line growth.

“With the strategic review process now complete, Bragg is now fully focused on commercialization and unlocking profitable growth, without the need for significant new investment in product development. Our decade-long investments in technology and talent, combined with a robust leadership team, have built a scalable platform that uniquely positions us for aggressive growth in 2025 and beyond. With significant operating leverage now within reach, we’re poised for an exciting, high-growth, and profitable future.”

Third Quarter 2024 and Recent Business Highlights

  • Launched its newest games and Remote Gaming Server (RGS) technology with Caesars Digital in Pennsylvania and Ontario. The launch marked the expansion of Bragg’s existing partnership with Caesars Digital, following earlier launches in New Jersey and Michigan respectively, doubling the number of states/provinces in which Bragg content is offered on Caesars Palace Online Casino and Caesars Sportsbook & Casino.
  • Launched its newest games and RGS technology with FanDuel in New Jersey, adding to its existing distribution with the leading North American operator in Michigan, Pennsylvania, Connecticut and Ontario
  • Post-quarter end, the Company additionally launched its newest games and RGS technology with bet365 in New Jersey, following on from its second quarter launch in Pennsylvania, and an earlier launch in Ontario with the major global iGaming operator
  • Launched HardRockCasino.nl in the Dutch market, supplying its cutting-edge player account management (PAM) software to the brand. The agreement is Bragg’s 6th PAM customer in the Netherlands, reinforcing Bragg’s status as the leading technology and content supplier in the Dutch market
  • Launched the Kambi sportsbook on 711.nl, adding an additional revenue-generating product stream to a key PAM customer in the Netherlands
  • Management is pleased to announce the appointment of Robbie Bressler to CFO of Bragg, effective immediately. Robbie had been serving as Bragg’s interim CFO since July 1, 2024.

Additional September 30, 2024 Key Financial Metrics

  • For the nine-month period ended September 30, 2024, Cash flow generated from operations was EUR 8.4 million (USD 9.4 million), compared to EUR 6.2 million (USD 6.9 million) for the nine-month period ended September 30, 2023.
  • Cash and cash equivalents as of September 30, 2024 was EUR 11.6 million (USD 13.0 million) and net working capital, excluding deferred consideration, loans payable, and convertible debt, was EUR 11.3 million (USD 12.7 million)

Strategic Alternatives Process Concluded
The Bragg Board announced the strategic alternatives process in March 2024 with the formation of a Special Committee, comprised solely of independent members of the Board. The Committee, together with its advisors Oakvale Capital LLP and Blake, Cassels & Graydon LLP, evaluated a wide range of strategic alternatives for maximizing shareholder value including a potential sale or merger of the Company. Bragg solicited interest from a significant number of potential counterparties and received multiple non-binding proposals.

After careful consideration, the Board, on recommendation from the special committee, unanimously determined that none of the proposals received reflect the Company’s intrinsic value or current and projected financial performance, and therefore elected to conclude its review and disband the Special Committee.

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Don Robertson, independent Board member and Chair of the Special Committee, said, “After a comprehensive and exhaustive process, the Committee recommended, and the Board unanimously agreed, that continuing to execute Bragg’s strategic plan as an independent public company is the best approach for maximizing shareholder value. Although the process has now concluded, Bragg’s Board will continue to be open to and consider all opportunities for enhancing shareholder value.”

“Over the past year, our financial performance, cashflow generation and revenue outlook have significantly improved. We remain extremely confident about our business plan, operating strategy, and financial prospects” said Matevž Mazij, Chairman and CEO of Bragg.

Reiterates Full Year 2024 Guidance and 2025 Outlook
Bragg reiterates its 2024 full year revenue guidance range of EUR 102.0-109.0 million (USD 114.2-122.1 million) and its full year Adjusted EBITDA range of EUR 15.2-18.5 million (USD 17.0-20.7 million), noting that the Company is currently tracking to the lower end of guidance.

Bragg is actively advancing a robust pipeline of opportunities that is anticipated to drive strong momentum as we enter 2025. The outlook for 2025 remains positive, with expectations of sustained double-digit top line growth, expanding bottom line margins, and increased operational leverage, further strengthening Bragg’s position in the market. The preceding guidance and outlook constitute forward-looking information within the meaning of applicable securities laws, and is based on a number of assumptions and subject to a number of risks.

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SlotMatrix unleashes the wild riches of 20 Armadillos

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SlotMatrix unleashes the wild riches of 20 Armadillos

 

SlotMatrix, the world’s largest casino content aggregator, proudly announces the launch of 20 Armadillos, a thrilling new slot adventure set deep in a jungle where fortunes roll wild.

In this untamed land, the Armadillos and their fierce animal allies guard treasures waiting to be uncovered. Players spin the reels as claws of luck and paws of fortune guide them towards potential big wins, daring them to crack the shell of jungle secrets and claim the rewards within.

20 Armadillos is a 5-reel, 4-row slot with 20 lines, medium-high volatility and RTP options of 94.16% and 96.96%. With a maximum multiplier of 30,000x and a responsive, mobile-first design, the game blends rich visuals with high win potential.

The game’s feature set is as wild as its setting. Landing Wild Symbols triggers Wild Respins, extending the action and paving the way to the Bonus Game, where Wilds transform into Armadillo Credits with random cash values.

Prizepot mechanics give players the chance to collect Mini, Minor, Major, and Mega wins, while filling the board unlocks the ultimate Grand Prizepot.

Pick Enhancement Accumulation allows players to build up powerful modifiers over time, unlocking even more rewards when Free Spins begin.

In the Pre-Free Spins Picks phase, collected enhancements such as global multipliers, payout boosts, extra credits, and sticky animals create a truly personalised bonus round.

The Free Spins bonus doubles down on excitement with Both Ways Pay and Animals Double Feature, combining sticky animals, extra spins, and double-win mechanics for massive payouts.

20 Armadillos is exclusively available through SlotMatrix. As with all SlotMatrix titles, the game is enhanced by EveryMatrix’s proprietary gamification features, including free spins and leaderboards, and can be integrated with EngageSuite, the all-in-one player loyalty solution.

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Bjorn Sjoberg, COO, SlotMatrix, said: “With 20 Armadillos, we’re showcasing how layered gameplay, vibrant storytelling, and innovative mechanics can captivate players.

“From the jungle-themed prizepots to double-paying animal features, 20 Armadillos delivers an experience to remember for players worldwide.”

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Gaming

Best Game Server Hosting (2025): Nitrado Ranked Top Across Leading Games by Software Experts

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Software Experts has recognized Nitrado as the leading choice in its 2025 feature on the best game server hosting platforms. Nitrado was ranked highly across major titles such as Minecraft, ARK: Survival Ascended, and DayZ.

Nitrado delivers scalable and reliable server hosting solutions for a wide range of online multiplayer games. The demand for high-quality game server hosting has increased as online multiplayer games have grown in scale and complexity. Expansions, downloadable content (DLC), and frequent updates have placed pressure on server infrastructure, requiring providers to deliver stability, fast updates, and community integration. For players of ARK, Minecraft, or DayZ, server downtime can result in lost progress, interruptions to group play, and diminished gaming experiences.

This trend underscores why a strong hosting partner is essential. Servers are not only responsible for keeping games online but also for supporting the evolving needs of large player communities. Nitrado has consistently aligned its platform with these expectations, offering infrastructure that adapts to both technical requirements and user demand.

Recognition Across Key Games

Software Experts noted that Nitrado has demonstrated consistent support for popular titles through timely hosting updates and tools designed for specific gameplay environments.

Minecraft hosting: With the release of the Minecraft 1.21 Tricky Trials update, Nitrado provided immediate server support, allowing players to explore new dungeons and mechanics without interruption.

ARK hosting: Nitrado servers were prepared for the Ragnarok Map in ARK: Survival Ascended and are optimized for the upcoming Aquatica DLC, ensuring survival experiences remain stable even with expansive maps and mods.

DayZ hosting: Survival titles demand persistence and uptime. Expansions such as Frostline and the upcoming Badlands were supported rapidly on Nitrado servers, enabling players to adapt to environmental changes without server disruption.

Expansion to Broader Multiplayer Titles

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The recognition also emphasized Nitrado’s versatility beyond the most popular titles. In 7 Days to Die, the recent Storms Brewing update was supported on Nitrado servers at launch, giving players stable access to new weather and survival mechanics. For Conan Exiles, the platform has offered guidance on server setups such as best base locations, combined with reliable performance during intensive multiplayer sessions. In Enshrouded, Nitrado integrated the Melodies of the Mire update directly into its hosting framework, ensuring smooth adoption of new classes and gameplay features.

By covering a range of genres, Nitrado provides infrastructure that extends beyond traditional survival titles, positioning itself as a multi-game hosting solution.

Tools and Community Integrations

Software Experts also highlighted Nitrado’s focus on server management tools and community features. The platform’s web interface and mobile applications allow administrators to adjust settings with minimal technical complexity, from rolling back Minecraft worlds to tuning difficulty levels in ARK.

Support for mods and plugins further enhances gameplay. Communities can integrate texture packs, maps, and total conversions without complicated manual setups. This has proven especially useful in titles with active modding cultures, including ARK and Minecraft.

Nitrado also integrates with platforms such as Discord, creating a unified environment where players can coordinate matches, share updates, and stay connected. These integrations have become increasingly important as multiplayer gaming extends beyond gameplay into community interaction.

Performance and Reliability

Reliability remains a core measure of success in server hosting. Software Experts reported that Nitrado’s global infrastructure of data centers reduces latency for players across regions. Built-in protections such as DDoS mitigation ensure that servers remain stable against external threats.

Performance is measured in player experiences rather than technical specifications. Large Minecraft builds, ARK raids with high player counts, or DayZ survival sessions all require servers capable of managing demand without lag or interruption. Nitrado has consistently met these requirements, providing stability for both small private groups and larger multiplayer communities.

The recognition comes at a time when server hosting has become critical to the success of modern games. The rise of live-service models, frequent DLC releases, and growing player bases has made infrastructure a competitive differentiator. Hosting platforms that can update quickly, manage new expansions, and support community tools are essential for maintaining engagement.

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For players, this translates into uninterrupted sessions and reliable access to content. For developers, it ensures that game updates are supported with minimal disruption. Software Experts’ analysis noted that Nitrado’s approach positions it well within this broader industry context.

Nitrado’s recognition by Software Experts as the leader in best game server hosting reflects its consistent performance across multiple titles, timely integration of expansions and updates, and investment in tools that support both administrators and communities.

As online communities expand and games evolve, the importance of reliability, performance, and community integration will only increase. Nitrado’s ability to address these needs underscores why it was recognized as a top choice for 2025.

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Compliance Updates

Arizona Department of Gaming Issues Cease-and-Desists on “Phoenix Dream Home Sweepstakes”

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The Arizona Department of Gaming (ADG) issued cease-and-desist orders to Raffall, a company based in the UK, and to an Arizona resident using the platform to promote the “Phoenix Dream Home Sweepstakes,” currently advertised online and through a separate website, winthisazhome.com, which is marketing the chance to “Win a Luxury $1.3M Arizona Mountainside Home”.

According to the Department’s investigation, the promotion required participants to purchase entries for a prize to be awarded and promised either a home transfer or a cash payout, depending on sales volume. The investigation further determined that the organizers intended to profit from ticket sales. Based on these findings, the Department alleges the activity constitutes an illegal gambling operation under Arizona law.

As part of the enforcement action, Raffall has been directed to remove all gambling-related drawings or giveaways targeting Arizona residents, and the Arizona resident has also been ordered to cease promoting or conducting any unlawful gambling activity.

“Illegal gambling can take many forms and it does not matter if it is labeled a sweepstakes, raffle, giveaway, or drawing. Unregulated operations put Arizonans at risk because there is no oversight, and therefore no accountability or safeguards in place. The Department will continue to take enforcement action to protect consumers, and we urge the public to learn what is legal before participating in or hosting any gambling activity,” said Jackie Johnson, Director of the Arizona Department of Gaming.

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