Canada
BRAGG GAMING SEES MULTI-YEAR GROWTH; RAISES 2022 REVENUE OUTLOOK
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Remains on Track to Grow 2022 Year-end Total Addressable Market Approximately Six-Fold Since Beginning of 2021
Expects 2021 Fourth Quarter Revenue of Approximately EUR €15.4 million (USD $17.6 million) and Adjusted EBITDA of Approximately EUR €1.3 million (USD $1.5 million)
Expects 2021 Full Year Revenue of Approximately EUR €58.0 million (USD $66.1 million) and Adjusted EBITDA of Approximately EUR €7.0 million (USD $8.0 million)
Raises Full Year 2022 Revenue Outlook to Range of EUR €68-72 million (USD $78-82 million) and Adjusted EBITDA Outlook to Range of EUR €9.5-10.5 million (USD $10.8-12.0 million)
Bragg Gaming Group, a global iGaming technology and content provider, reported that it sees multi-year growth in its business based on the success of its ongoing iGaming content and platform expansion and new market strategy. Momentum across Bragg’s current operations resulted in expected 2021 full year revenue and Adjusted EBITDA exceeding the Company’s previously provided guidance. Bragg also raised its 2022 full year revenue and Adjusted EBITDA guidance, which now reflect year-over-year growth of 21% and 43%, respectively compared to expected 2021 full year revenue and Adjusted EBITDA, and provided an update on the expected timing of the closing of its proposed acquisition of Spin Games.
- Bragg expects to report fourth quarter 2021 revenue of approximately EUR €15.4 million (USD $17.6 million) and Adjusted EBITDA of approximately EUR €1.3 million (USD $1.5 million).
- As a result, the Company expects to report full year 2021 revenue of approximately EUR €58.0 million (USD $66.1 million) and Adjusted EBITDA of approximately EUR €7.0 million (USD $8.0 million).
- The updated full year 2021 revenue and Adjusted EBITDA expectations compare to the Company’s previously provided guidance of EUR €55-56 million (USD $63-64 million) and Adjusted EBITDA of EUR €6.6-6.8 million (USD $7.5-7.8 million).
- The expected 2021 revenue and Adjusted EBITDA results represent growth of 25% and 26%, respectively, versus the full year 2020.
- Bragg also increased its guidance for full year 2022 revenue to a range of EUR €68-72 million (USD $78-82 million) from the prior range of EUR €59-61 million (USD $67-70 million). The midpoint of the new full year 2022 revenue guidance represents growth of 21% over the expected full year 2021 revenue.
- The Company also raised its guidance for full year 2022 Adjusted EBITDA to a range of EUR €9.5-10.5 million (USD $10.8-12.0 million) from the prior range of EUR €6-7 million (USD $7-8 million). The midpoint of the new full year 2022 Adjusted EBITDA guidance represents growth of 43% over the expected full year 2021 Adjusted EBITDA.
- Bragg expects to complete the acquisition of Spin Games by the end of the first quarter of 2022.
- The anticipated timing of the closing of the acquisition is reflected in the Company’s revised higher full year 2022 revenue expectation even though the previously provided 2022 revenue guidance contemplated an earlier closing of this transaction.
- Since January 2021, Bragg’s Gaming has gone live with its player-popular content in the following regulated iGaming markets: Switzerland, Germany, Greece, the Netherlands, the United Kingdom, and the Czech Republic.
- H2 Gambling Capital projects the aggregate 2022 online casino total addressable market (“TAM”) for these six countries will be approximately USD$9.5 billion.
- The Company’s current TAM is approximately USD$12.5 billion and Bragg expects this to further increase to more than USD$18.0 billion by the end of 2022, reflecting its expectations for initial activations this year in several U.S. iGaming markets and in Ontario, as well as in other global iGaming markets.
Yaniv Spielberg, Chief Strategy Officer for Bragg Gaming, commented, “The ongoing execution of our iGaming content and platform expansion and new market initiatives are driving Bragg’s consistent operating momentum leading to near- and long-term financial growth. These factors contributed to stronger than expected financial results in the 2021 fourth quarter and as a result we now expect to exceed our previously provided guidance for full year 2021 revenue and Adjusted EBITDA.
“Looking forward, our deep bench of experienced senior management and operational teams continue to implement strategies that are leading to new areas of growth, as demonstrated by the strong initial performance we are achieving in our recently entered iGaming markets. As a result of the ongoing momentum in our business, we are raising our outlook for full year 2022 revenue range by approximately 17% at the midpoint, compared to our previously provided guidance, with the midpoint expectation of EUR €70 million representing 21% year-over-year growth.
“As we move closer to completing our acquisition of Spin Games, whose existing relationships with leading U.S. iGaming operators will significantly accelerate our entry into the market, and continue to make consistent progress with entering new regulated global iGaming markets, we remain on track to substantially grow our year-end 2022 TAM approximately six-fold compared to the beginning of 2021 to more than USD$18 billion. We also expect our TAM will continue to expand as new states approve iGaming over the next several years. As such, Bragg is favorably positioned to achieve our increased 2022 financial projections and to then continue to accelerate our growth in 2023.”
Canada
ROGA Launches National College Education Campaign
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The Responsible Online Gaming Association (ROGA) has launched the “Know Your Play” campaign in partnership with EPIC Global Solutions, Kindbridge Behavioral Health, and the Responsible Gambling Council (RGC). This is a major initiative designed to provide college-aged students with detailed content focused on responsible gaming, mental health and well-being, and financial literacy.
“College students are learning to navigate newfound financial independence and equipping this age group with resources to make informed decisions that can build good financial habits will serve them throughout their lives, whether they engage in gaming or not. While previous programs have focused on student-athletes, our campaign intends to educate the broader student population about responsible gaming concepts that can help this age group set realistic expectations and see gaming as a form of entertainment, not as a way of making money,” ROGA Executive Director Dr. Jennifer Shatley said.
The campaign utilizes digital learning tools, resources, and videos available to all college-aged students at knowyourplay.org, even if they are not enrolled in a university. These resources will educate students on key responsible gaming concepts, including randomness, impulsiveness, and limit setting, while addressing myths like the illusion of control in sports betting. It will also focus on the role stress and mental health play in overall student wellbeing and provide practical tips for management. Additionally, extended resources will be piloted with select universities.
“EPIC has vast expertise and experience in creating programs that resonate with college-aged audiences and are delighted to partner with ROGA on a campaign that will provide critical education to college students across the country. By combining expert knowledge with personal stories, our program aims to foster a well-rounded understanding of financial literacy, decision-making, and risk-taking,” Teresa Fiore, SVP of Partnerships at EPIC Global Solutions, said.
The campaign will begin rolling out at college campuses over the next several weeks with in-person learning sessions and workshops in tandem with digital delivery tools for greater accessibility and reach, ensuring that the program effectively engages students across diverse campuses and demographics.
“College life presents unique pressures, from financial independence to academic performance, all of which can impact mental health. By fostering decision-making skills that bridge these areas, we’re helping students build resilience, manage stress, and develop healthy habits that will serve them well beyond their college years,” Kindbridge Group CEO Daniel Umfleet, said.
“College students face an increased risk of harm from gambling, making prevention education essential in protecting this important audience. RGC has a long history of creating prevention programs for young adults, and we are proud to partner with ROGA on this crucial initiative. This campaign will equip students with the knowledge and skills needed to make informed decisions should they choose to gamble. By providing valuable information, digital tools, and resources, we are empowering young adults to approach gambling with a lower-risk mindset and reduce potential harm,” RGC CEO Sarah McCarthy said.
Canada
Siyata Mobile Announces New Order from Leading Canadian Gaming and Entertainment Company
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Siyata Mobile Inc, a global vendor of Push-to-Talk over Cellular (PoC) devices and cellular signal booster systems, announced a new order for SD7 handsets and related accessories for a new customer, a leading gaming and entertainment company located in Canada.
This order marks one of Siyata’s first entries into the gaming and casino industry, a sector with significant growth potential for the Company. The customer operates dozens of gaming, entertainment, and hospitality venues across Canada and will deploy the SD7 handsets for Push-to-Talk (PTT) communications among its security and maintenance teams.
“This new order is an exciting milestone for Siyata as we expand further into the gaming and casino market. There is a growing industry trend toward modern, cellular-based communication solutions. Casinos require reliable, cost-effective, and easy-to-use communication tools with exceptional audio clarity, and our SD7 handsets and accessories are an ideal fit for those demands. This casino is replacing traditional Land Mobile Radio (LMR) two-way radios with advanced PoC technology for its security and maintenance personnel. The SD7’s robust capabilities, including instant push-to-talk functionality and superior coverage, make it an attractive choice for businesses prioritizing security and operational efficiency,” Marc Seelenfreund, CEO of Siyata Mobile, said.
Canada
CasinoCanada Started a New Partnership With Ocean Spin by LaLa Stars
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CasinoCanada, the number one gambling guide for players in Canada, is thrilled to announce its new partnership with Ocean Spin a brand under the umbrella of LaLa Stars.
This collaboration marks an exciting step in CasinoCanada’s mission to provide its audience with the most comprehensive and up-to-date information on top gaming experiences.
The partnership agreement will grant LaLa Stars premium visibility across high-traffic sections of CasinoCanada’s website, which has been a trusted source for Canadian players for over 20 years.
LaLa Stars presents itself as an affiliate program that generates double-digit profits by making it easy and enjoyable to promote the brands. The program features a memorable design, a player-centric retention system, top-tier payment options, and game providers. Fast payments, flexible commission models, high-converting brands, powerful reporting, no middlemen, and outstanding conversion make LaLa Stars a popular choice. Additional company benefits are: a revenue share of up to 60%, a CPA of up to €500, hybrid CPA.
Ocean Spin Casino, a brand of LaLa Stars company, despite being quite new on the iGaming market, is a huge online gambling platform where all casino newcomers are greeted with a welcome bonus of 100% for up to €500, and 200 free spins plus one Bonus Crab. It comes as a first deposit bonus for a minimum deposit amount of €20. Sports-betting enthusiasts can also claim a welcome bonus of 100% for up to €100.
Ocean Spin Casino’s games include: gaming machines, roulette blackjack, betting, video poker, bingo, baccarat, jackpot games, and live games.
“We are excited to meet our new partner Ocean Spin Casino, and hope to bring maximum use and value to our community,” said Aleksandra Drigo, Sales Director at CasinoCanada. “This partnership perfectly reflects our dedication to highlighting the best in the gaming industry while offering our audience valuable insights and chances to experience top-notch gaming. We hope for a productive and long-term partnership!”
The partnership is now live, featuring LaLa Stars reviews and exclusive offers on the CasinoCanada website. This collaboration is set to deliver even more thrilling updates, exclusive content, and personalized promotions for the Canadian gambling community.
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