Bragg Gaming Group to Settle USD 5 Million of Secured Promissory Note; Short-term Extension Agreement Reached for Remaining USD 2 Million
Bragg Gaming Group, a leading global B2B iGaming content and technology provider, announced it has reached an agreement with its lenders, certain entities controlled by Doug Fallon, to repay USD 5 million of its outstanding USD 7 million secured promissory note and to extend the maturity of the remaining USD 2 million until June 6, 2025 (the Note).
The company is in the process of securing a new revolving credit facility from a third-party lender. This facility is expected to offer more favorable terms than the existing Note, including lower borrowing costs and improved drawdown flexibility.
“This partial repayment and extension will further strengthen our balance sheet and reflects our confidence in the business. With a reduced need for working capital support, we’re focused on finalizing a new facility to secure standby credit, allowing for greater financial flexibility and enabling us to pursue strategic growth opportunities,” said Robbie Bressler, CFO of Bragg.
All other terms of the original Note remain unchanged. Bragg intends to repay the remaining USD 2 million balance on or before the amended June 6, 2025 maturity date.
