Canada
BRAGG GAMING GROUP 2021 REPORTS RECORD FOURTH QUARTER RESULTS AS REVENUE RISES 14.4%

Bragg Gaming Group, a global B2B gaming technology and content provider, today reported record financial results for the fourth quarter and full year ended December 31, 2021. The Company also provided an update on its strategic growth initiatives and reiterated its full year 2022 revenue and Adjusted EBITDA guidance.
Summary of Q4-21 and FY-21 Financial and Operational Highlights
Q4-21 |
Q4-20 |
Change |
|
Revenue |
âŹ15.8 |
âŹ13.8 |
14.4% |
Gross profit |
âŹ8.0 |
âŹ6.0 |
33.3% |
Gross profit margin |
51.0% |
43.8% |
720bps |
Adjusted EBITDA |
âŹ1.5 |
âŹ1.3 |
22.2% |
Adjusted EBITDA margin |
9.8% |
9.1% |
70bps |
Wagering revenue |
âŹ3.1B |
âŹ3.4B |
-8.4% |
Euros |
FY-21 |
FY-20 |
Change |
Revenue |
⏠58.3 |
⏠46.4 |
25.6% |
Adjusted EBITDA |
âŹ7.2 |
âŹ5.5 |
29.8% |
Wagering revenue |
âŹ14.3B |
âŹ11.8B |
21.1% |
Â
Management Commentary
“The 2021 fourth quarter concluded an active and productive year for Bragg as continued execution on our key strategic initiatives drove significant operational accomplishments and strong financial results,” said Yaniv Spielberg, Chief Strategy Officer for Bragg Gaming. “In the fourth quarter we went live with our iGaming offering in the newly regulated Netherlands market and also went live in the U.K, the world’s largest iGaming market. Since the beginning of 2021, we have introduced player-popular content in six regulated European markets, increasing our total addressable market (“TAM”) by more than $10 billion to approximately USD$13.5 billion. We have also made significant progress towards our entry into additional new markets and expect to go live with our games in the U.S. and Canada later this year. Furthermore, we have also made substantial progress on our initiative to offer more new high-performing propriety and exclusive third-party online content through our June 2021 acquisition of Wild Streak, the recent introduction of our first new internally developed games and new exclusive content licensing agreements with leading game developers. Bragg’s continued progress with its new market and content monetization initiatives, combined with 42% growth in new customers in 2021, drove our strong fourth quarter and full year financial results.
“Fourth quarter revenue of EUR âŹ15.8 million (USD $17.5 million) and Adjusted EBITDA of EUR âŹ1.5 million (USD $1.7 million) surpassed the preliminary results we provided last month and were both fourth quarter records. As a result, 2021 full year revenue and Adjusted EBITDA rose 26% and 30%, respectively to records of EUR âŹ58.3 million (USD $64.7 million) and EUR âŹ7.2 million (USD $8.0 million). In addition, the growing mix of higher gross margin in-house content and platform revenue contributed to a record quarterly gross profit margin of 51% in the fourth quarter, reflecting a 720 basis point year-over-year improvement. Our strong margin performance in the quarter highlights the significant progress we’ve made against our goal to grow gross profit margin to approximately 60% by 2024.
“Our operating momentum has continued in the early months of 2022. We also continue to make progress on closing our acquisition of Spin Games as Bragg has completed all of its regulatory requirements. We are now awaiting final review by the sole remaining regulatory body which is expected to be complete in the next few months. Importantly, we have made substantial progress on the integration of the Spin Games technology platform with our ORYX platform and have already submitted the integrations for certification by various approved U.S. gaming laboratories. As such, once we receive the remaining required regulatory approval to complete this acquisition, we expect to be able to introduce our iGaming content to players in a number of U.S. states very quickly. Importantly, the pace of U.S. deployments will benefit from Spin Games’ existing relationships with more than 30 U.S. iGaming operators.”
Mr. Spielberg concluded, “Our planned entry into the U.S. and Canada as well as additional regulated European markets this year has Bragg on track to grow our year-end 2022 TAM to more than USD$21 billion. The strong performance we have achieved in a number of our recently entered markets as well as our existing markets in the early months of 2022, and the ongoing roll-out of our new proprietary games, amplifies our confidence for continued operating momentum. As a result, we are reiterating our outlook for 2022 full year revenue of EUR âŹ68-72 million (USD $76-80 million) and Adjusted EBITDA of EUR âŹ9.5-10.5 million (USD $10.5-11.7 million). The midpoints of these ranges represent growth of 20% and 39%, respectively, over reported full year 2021 revenue and Adjusted EBITDA. We believe the ongoing execution of our operating priorities favourably positions Bragg to both further accelerate this growth in 2023 and create new near- and long-term shareholder value.”
Fourth Quarter 2021 Financial Results and other Key Metrics Highlights
- Revenue increased by 14.4% to EUR âŹ15.8 million (USD $17.5 million) in Q4 2021 compared to EUR âŹ13.8 million (USD $15.3 million) in Q4 2020.Â
- Wagering revenue generated by customers decreased 8.8% to EUR âŹ3.1 billion (USD $3.4 billion) compared to EUR âŹ3.4 billion (USD $3.8 billion) in Q4 2020 as a result of changes in the product mix, towards PAM, managed services and proprietary content which drove improved gross profit and Adjusted EBITDA.
- Gross profit increased by 33.3% to EUR âŹ8.0 million (USD $8.9 million) from EUR âŹ6.0 million (USD $6.7 million) in Q4 2020, reflecting higher revenue and a 720 basis point margin improvement to 51.0%.
- The margin expansion is primarily the result of the continued shift towards a higher proportion of revenues from iGaming and turnkey services, which have lower associated cost of sales when compared to games and content.
- Net loss for the period was EUR âŹ1.6 million (USD $1.8 million), a decline from a net loss of EUR âŹ5.3 million (USD $5.9 million) in Q4 2020, primarily due to higher gross profit and a reduction in costs related to deferred consideration payable, partially offset by the incremental increase in employee costs and professional fees as a result of the Nasdaq listing.
- Adjusted EBITDA was EUR âŹ1.5 million (USD $1.7 million), an increase of 22.2% compared to EUR âŹ1.3 million (USD $1.4 million) in Q4 2020. Adjusted EBITDA margin increased by 70 basis points to 9.8%.
- Cash and cash equivalents as of December 31, 2021 was EUR âŹ16.0 million (USD $17.8 million).
2021 Full Year Financial Results and other Key Metrics Highlights
- Revenue increased by 25.6% to EUR âŹ58.3 million (USD $64.7 million) for 2021 compared to EUR âŹ46.4 million (USD $51.5 million) in 2020.Â
- Wagering revenue generated by customers increased 21.1% to EUR âŹ14.3 billion (USD $15.9 billion) compared to EUR âŹ11.8billion (USD $13.1 billion) in 2020.
- The number of unique players using Bragg games via its Oryx Hub distribution platform and content increased by 11.2% to 6.5 million, from 5.9 million in 2020.
- Gross profit increased by 40.3% to EUR âŹ28.3million (USD $31.4 million) from EUR âŹ20.2million (USD $22.4 million) in 2020, reflecting a 510 basis point margin improvement to 48.6%.
- Net loss for the period was EUR âŹ7.5 million (USD $8.3 million), an improvement from the net loss of EUR âŹ14.6 million (USD $16.2 million) in 2020.
- Adjusted EBITDA was EUR âŹ7.2 million (USD $8.0 million), an increase of 29.8% compared to EUR âŹ5.5 million (USD $6.1 million) in 2020. Adjusted EBITDA margin increased by 40 basis points to 12.3%.
Full Year 2022 Revenue and Adjusted EBITDA Guidance
Bragg today reiterated its outlook for 2022 full year expected revenue of EUR âŹ68-72 million (USD $76-80 million) and Adjusted EBITDA of EUR âŹ9.5-10.5 million (USD $10.5-11.7 million). The midpoints of the 2022 revenue and Adjusted EBITDA guidance ranges represent growth of 20% and 39%, respectively, over the reported full year 2021 revenue and Adjusted EBITDA.
Canada
NetGaming Goes Live in Ontario with Rush Street Interactive via BetRivers Platform

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: âWe 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.â
Richard Schwartz, CEO of Rush Street Interactive, commented: âWe 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.â
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

Casinosfiables announced that they have redesigned their existing site – https://casinosfiables.ca/ to better address current user demands.
Although the siteâs 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 werenât 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 werenât at the forefront previously.
⢠Author pages – Readers who had similar opinions and game preferences to the siteâs 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

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 employeeâs bubbly nature while he purchased his Bubly, Chau also purchased a Lotto Max ticket for the May 23, 2025 draw. Â
It was this ticket that ended up scoring Chau a whopping $40-million jackpot. Â
âI was at work when I found out,â recalled Chau of the moment he realized he won. âI 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 didnât 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!âÂ
At the time of the prize claim, the Vancouver resident hadnât yet shared the news of his win. Â
âMy partner doesnât know yet! I want to share the news with them in a special way.â Â
Chau shared that his dream has always been to travel the world. âThere are so many places I want to go to, so I havenât fully decided!âÂ
When asked if he will quit his job, he said, âI havenât decided, but I want to continue to support my community in a different way.âÂ
On how it feels to be a multimillionaire? Â
âIt 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. Itâs not meaningful unless you can share this with those who need it.â Â
Chau purchased the winning ticket at the 7-Eleven on Imperial Street and Boundary Road in Burnaby. Â
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). Â
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.Â
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.
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