Canada

Bragg Gaming Group Announces Record Fourth Quarter and Full Year 2020 Results

Published

4 years ago

March 25, 2021

George Miller

Bragg On Track to Launch Proprietary and Exclusive iGaming Content in Ontario

Full year revenue up 74.6% year over year; a 58.4% CAGR since FY 2018

Fourth quarter revenue up 75.7% from the comparable period in the previous year

B2B gaming platform technology provider Bragg Gaming Group today released its annual financial results for the three months and year ended Dec 31, 2020.

“We’ve made extraordinary progress in 2020 and are very pleased with the substantial revenue and EBITDA growth that we’ve delivered,” said Adam Arviv, Interim Chief Executive Officer of Bragg. “We continue to expand globally, enhancing our content portfolio and technology offering, and securing new customers across key geographies.”

“We’re particularly pleased with the overall performance of Bragg during 2020 and believe we have built strong foundations to support future market share gains and new market entry,” said Richard Carter, Chair of the Board at Bragg. “Adam and I have taken active leadership roles within Bragg to ensure the future success of the Company. We’re aligned in our strategy to grow the group’s underling operating profit margin and to expand rapidly into new markets, particularly the burgeoning U.S. market. Our extensive experience and wide-ranging industry networks within this constantly expanding market will add significant value for Bragg shareholders. We are now extremely well-positioned to capitalise on the strong growth in the online gaming sector globally.”

FY 2020 financial highlights

Revenue[1] increased by 74.6% in 2020, up to €46.4M (C$68.7M[2]), as compared to €26.6M (C$39.3M) for full year 2019, representing a yearly 58.4% CAGR since FY 2018
Wagering revenue generated by customers increased by 73.5% to €11.8B (C$17.5B) as compared to €6.8B (C$10.1B) during full year 2019.
Adjusted EBITDA[3] increased by 432.8%, up to €5.5M (C$8.2M) from €1.0M (C$1.5M) the previous year, with margins increasing significantly from 3.9% to 11.9%, achieved by reaching higher scale and practising firm cost control.
Net loss for the period was €14.6M (C$21.6M) compared to a net loss of €11.9M (C$17.7M) in the comparable period, due primarily to the re-measurement of deferred and contingent consideration and the accretion of liabilities for the ORYX earn-out.
Cash and cash equivalents as of December 31, 2020 amounted to €26.1M (C$38.6M) compared to €0.7M (C$1.0M) on December 31, 2019.

Q4 2020 financial highlights

Revenue increased by 75.7% to €13.8M (C$20.4M), compared to €7.8M (C$11.6M) for the fourth quarter of 2019, representing a quarterly growth of 12.4% CAGR since Q1 2019
Quarter over quarter revenue increase of 18%, from €11.7M (C$17.3M) in the third quarter to €13.8M (C$20.4M) in the fourth quarter.
Wagering revenue generated by customers up by 50.1% to €3.2B (C$4.7B) compared to €2.1B (C$3.2B) in the fourth quarter of 2019.
Increase of 70.1% in unique players[4] using Bragg games and content, up to 2.50M from 1.47M during the comparable quarter in 2019.
Adjusted EBITDA was €1.3M (C$1.9M), up 70.8% compared to €0.7M (C$1.1M), with a decrease in margins from 9.4% to 9.1%, primarily as a result of professional fees and corporate costs incurred through up-listing from the TSX-Venture Exchange to the Toronto Stock Exchange.
Net loss for the period was €5.3M (C$7.9M), in line with Q4 2019 results of €5.3M(C$7.9M).

Selected fourth quarter and full year key performance indicators

Euros (Thousands)	Q4-20	Q4-19	%	FY 2020	FY 2019	%
Revenue	13,778	7,841	75.7%	46,421	26,592	74.6%
Adjusted EBITDA	1,259	737	70.8%	5,546	1,041	432.8%
Adjusted EBITDA margin	9.1%	9.4%	-0.3%	11.9%	3.9%	205.2%

Operational	Q4-20	Q4-19	%	FY 2020	FY 2019	%
Wagering revenue	3.2B	2.1B	50.1%	11.8B	6.8B	73.5%
Unique players	2.50M	1.47M	70.1%	5.87M	2.75M	113.6%
Revenue/ top 10 customers	66%	67%	-1.6%	58%	72%	-18.8%

Business highlights

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Successful launch of 54 B2B operators[5] during the period, across a number of global jurisdictions, including 21 operators during the fourth quarter
Improved Customers[6] revenue diversification, with 58% of revenue derived from the top 10 customers, as compared to 72% in 2019
Launched new exclusive content and completed the integration of key leading studios such as Peter & Sons, CandleBets and Arcadem
Expanded its geographic presence, with entry into a number of new global markets, including Switzerland, Bulgaria, Portugal, Latvia, Czech Republic and Spain
In January 2021, secured a joint venture Agreement with JVH gaming & entertainment group, the largest land-based casino in the Netherlands (JVH group) for iGaming platform (PAM) and turnkey services
In January 2021, the Company completed a private placement for €1.9M (C$3.0M), which included participation from the board of directors and management
In January 2021, the Company’s common shares and outstanding warrants began trading on the Toronto Stock Exchange senior market
In February 2021, Bragg announced the acceleration of its investment in the US and Canadian markets
The Bragg board of directors was augmented with the addition of prominent business leader Paul Godfrey in January 2021and high-profile gaming industry veteran Lara Falzon in March 2021

Ongoing strategy

Bragg recently announced the appointment of high-profile gaming industry executive Richard Carter to the role of CEO, effective May 1, 2021
Bragg is also in the process of signing on an experienced management team to work with Mr. Carter, extending the Company’s already sizeable competitive advantage in the global gaming industry
Bragg continues to focus on expanding its global footprint, particularly in the burgeoning U.S. gaming market, where the total addressable market (TAM) for iGaming is anticipated to be greater than 40B at 100 per cent legalisation, the TAM for sports betting is expected to grow to more than $22B once gaming is legalised in all states
Bragg will also target Canada, where the TAM for both sports betting and iGaming is projected to be $5-8B upon full legalisation
Bragg continues to invest in its technical infrastructure, in increasing operational efficiencies, and in deepening its data analytics, gamification and bonuses features
Bragg continues to explore strategic M&A opportunities in the U.S. and globally

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Canada

NetGaming Goes Live in Ontario with Rush Street Interactive via BetRivers Platform

Published

4 days ago

June 20, 2025

George Miller

NetGaming, a fast-growing online casino content supplier, is proud to announce its launch in Ontario with Rush Street Interactive, Inc., a leading online casino and sports betting company in the United States, Canada and Latin America. This strategic collaboration marks a significant milestone for NetGaming as it continues to expand its footprint across regulated North American markets.

As part of the launch, Ontario players on BetRivers can now enjoy a diverse portfolio of NetGaming titles, known for their high-quality graphics, immersive gameplay, and unique themes. Standout games such as Zeus’s Thunderbolt, Bison Gold, and Fireball Inferno are among the first to go live, with additional titles set to follow soon.

This partnership is just the beginning. NetGaming plans to extend its collaboration with Rush Street Interactive into Michigan, New Jersey, Pennsylvania, Delaware, and Mexico over the coming months.

Pallavi Deshmukh, CEO of NetGaming, commented: “We are thrilled to go live with Rush Street Interactive, a powerhouse operator with a strong presence and loyal player base. This launch marks a significant milestone in our
North American expansion strategy and underscores our commitment to delivering exceptional gaming experiences tailored to local player preferences across the region.”

Richard Schwartz, CEO of Rush Street Interactive, commented: “We are pleased to partner with NetGaming to bring innovative, premium games to our players in Ontario. This collaboration aligns with our strategy to offer world-class
entertainment through engaging, action-packed online casino games. We look forward to expanding this partnership into additional regulated markets in the months ahead.”

This strategic partnership highlights both companies’ dedication to providing high- quality, innovative, and responsible entertainment to players in regulated markets.

Canada

User-Centric Redesign for Casinosfiables.ca

Published

4 days ago

June 20, 2025

Niji Narayan

Casinosfiables announced that they have redesigned their existing site – https://casinosfiables.ca/ to better address current user demands.

Although the site’s functionality aligns with modern industry standards, the redesign is a step in the right direction and could very well give a competitive edge.

The changes addressed certain functionality concerns and aligned with ever-changing user preferences and behavior.

• Seamless page transition – The overall performance of the site improved, so pages loaded faster, despite the addition of new elements.

• Integrated social media buttons – Buttons that lead to social media pages became more visible, so it is easier for readers to complete engagement incentives that granted them affiliate-exclusive rewards or promo codes.

• More valuable insights – Previously, charts and ratings were only explained in separate reviews. The new roundup charts and ratings had a dropdown feature that provided more insights or clarity behind the rating.

• Relevant search filters – Some trends or categories that targeted user intent weren’t visible in the previous version. The updated version introduced new categories that better reflected player preferences, or included roundups based on casino features (e.g., cashback, no wager promos, game providers) that weren’t at the forefront previously.

• Author pages – Readers who had similar opinions and game preferences to the site’s authors gained the ability to find other texts from those authors. Each casino expert received a dedicated page listing all of their publications.

The changes were finalized over the past few months. The team pushed these updates in batches rather than a single big update.

Canada

Vancouver Resident Purchased Winning $40 Million Lotto Max Ticket While Quenching Sparkling Water Craving

Published

4 days ago

June 20, 2025

Adrienn Sarkany

Phuc Duc (Daniel) Chau loves the Bubly brand of sparkling water and stopped in a convenience store to purchase a can. Chau likes to buy lottery tickets based on a gut feeling, and due to the employee’s bubbly nature while he purchased his Bubly, Chau also purchased a Lotto Max ticket for the May 23, 2025 draw.

It was this ticket that ended up scoring Chau a whopping $40-million jackpot.

“I was at work when I found out,” recalled Chau of the moment he realized he won. “I was going through my bag to find a cough drop, but I saw that I had two lottery tickets in my bag and decided to scan the tickets, but I needed to update the [BCLC Lotto!] app first. The first ticket I didn’t win anything, but the second said $40 million. I have never seen that many zeroes in my life, ever. I dropped my phone and then called BCLC right away!”

At the time of the prize claim, the Vancouver resident hadn’t yet shared the news of his win.

“My partner doesn’t know yet! I want to share the news with them in a special way.”

Chau shared that his dream has always been to travel the world. “There are so many places I want to go to, so I haven’t fully decided!”

When asked if he will quit his job, he said, “I haven’t decided, but I want to continue to support my community in a different way.”

On how it feels to be a multimillionaire?

“It means a lot to me. It opens up an opportunity for me to give back to my family, community and the world all around me. It’s not meaningful unless you can share this with those who need it.”

Chau purchased the winning ticket at the 7-Eleven on Imperial Street and Boundary Road in Burnaby.

So far in 2025, B.C. lottery players have redeemed more than $146 million from Lotto Max. Lotto Max is a nationwide lottery game drawn on Tuesdays and Fridays after 7:30 p.m. (PST).

Players can purchase tickets at lottery retailers or at PlayNow.com. Winning numbers and group release forms can be found online at www.bclc.com. Players can check their lottery tickets anytime, anywhere on iOS and Android devices.

BCLC offers socially responsible gambling entertainment while generating income to benefit all British Columbians. Players can visit PlayNow.com to learn how to set time and money limits.