21VIRAL, the Latin American-focused games aggregator and solution provider, has onboarded Air Dice Group’s games portfolio.

21VIRAL, which is creating a streamlined integration, onboarding and transparent pricing in the iGaming casino and game aggregation supply vertical, announced the onboarding of Air Dice Group today.

The distribution deal allows 21VIRAL access to Air Dice’s complete portfolio of content. Air Dice specialises in strategy-influenced money games, which are in high demand across Latin America.

Christoph Härtel, CEO of 21VIRAL, said: “Our business is customer-first, and building out a great CRX experience is our goal. Having looked at the market incumbents, we decided to specialise in the Latin American market, given its current growth, which is double-digit, and is expected to maintain high levels of growth over the next 5 to 10 years.”

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“We have already onboarded several industry-established operators and game providers in record time using AI to facilitate faster and more streamlined workflows. We are, therefore, delighted to work with Air Dice Group to ensure their massively popular games, such as Wild Cash, Coco Craze, and Book of Goddess, are available to our operator’s portfolio of games content.

However, one of the limiting factors, especially if you are an operator or game provider, is the technical integration expertise and market access within the supply chain. If a game provider wishes to have their games deployed on Operator A’s website, but they are yet to be available to that operator, 21VIRAL’s GameConnector will be the provider’s enabler with all the technical integration, heavy lifting, and onboarding. We will also offer reverse integration, which means that we integrate our GameConnector Platform into their systems – therefore, the operators have less effort.

Simply, it’s a win-win, as many game providers in other territories, such as continental Europe, lack the commercial and technical distribution to enter LatAm—we do all that from them—and the operator gets access to the unique game content in the supply chain that can enhance their players’ engagement and revenue opportunities.”

Rocio Moitino, Director for LatAm, Air Dice Group added: “Latin America has proven to be an expanding and high-growth market for our games content over the last few years, and it continues to increase. We are delighted to increase our market accessibility with 21VIRAL’s team, as they provide faster speed to market to enable operators to access and publish our unique games to their casino lobby in quicker timeframes.”

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Amusnet proudly announces its partnership with bet365 in Peru. This collaboration supports the provider’s broader expansion strategy, reinforcing its commitment to growth within key emerging markets. Both companies are set to capitalize on the increasing demand for high-quality, engaging gaming content across Latin America.

“Partnering with bet365 in Peru represents a significant step in our journey to expand across emerging regions in Latin America. By aligning our strengths with such a respected operator in the industry, we are positioned to solidify our commitment to offering dynamic and engaging solutions that cater to the region’s demands,” said Nikola Georgiev, Senior Sales Manager at Amusnet.

A bet365 spokesperson said:  “We are proud to extend our partnership with Amusnet into the Peruvian market. Their combination of slots, perfectly fit bet365’s Games product and they will be a welcome addition for our Peruvian customers.”

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

(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.

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“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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