Latest News
Bragg Gaming Group Announces Record Third Quarter 2024 Revenue of Eur 26.2 Million (USD 29.3 Million)

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
Euros (millions)(1) | 3Q24 | 3Q23 | Change |
Revenue | € 26.2 | € 22.6 | 15.9 % |
Gross profit | € 14.0 | € 11.9 | 18.1 % |
Gross profit margin | 53.5 % | 52.5 % | 99 bps |
Adjusted EBITDA(2) | € 4.1 | € 3.8 | 7.1 % |
Adjusted EBITDA margin | 15.6 % | 16.9 % | (129) bps |
Operating Income (Loss) | € (0.4) | € (2.1) | (81.0) % |
(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.
“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.
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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JCM Global Transforms Chinook Winds Casino Resort’s Casino Floor with Towering Digital Signage at High Limit Area

JCM Global has installed a towering new digital signage solution at Chinook Winds Casino Resort in Lincoln City, Ore.
The digital signage frames the entrance of the casino’s high limit area and creates a stunning visual destination that transforms the casino floor.
Specifically, JCM installed three curved 2.5mm FLEX LITE-S solutions. The two pillars each measure nearly 8 feet high by 7 feet wide, and they connect to an overhead soffit that is nearly 24 feet wide and 5 feet high. The entire solution is programmable and can display different content for each piece of digital signage or showcase one video across all three signs.
The dynamic digital signage replaced static wood pillars and can feature a range of messaging, images, and video limited only by the imagination. This is the first digital signage project JCM has installed at Chinook Winds. The casino also has JCM GEN5 thermal printers on each of its slot machines.
“This breathtaking new entry into our High Stakes room is just the beginning of all the exciting new changes we will be implementing at Chinook Winds Casino Resort. We are glad JCM Global has been able to be a part of this journey,” said Sean Sheridan, Director of Facilities at Chinook Winds Casino Resort.
JCM SVP – Sales, Marketing & Operations Dave Kubajak said: “Chinook Winds says, ‘It’s Better at the Beach’, and their management proved it with this incredible digital signage installation. Our digital signage team brought their vision to life with our unique curved displays showcasing their high limit room entrance. The movement of the ocean and the whales on the curved signage truly illustrate the power of digital signage and the virtually limitless creativity it unleashes.”
JCM digital signage solutions transform hospitality areas, indoors, and outdoors. They come in a wide range of sizes and options to perfectly fit any space and enhance the guest experience.
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BetMGM Partners with Las Vegas Aces

BetMGM, a leading sports betting and iGaming operator, and the Las Vegas Aces announced that BetMGM is the exclusive online casino and sportsbook partner of the WNBA’s Las Vegas Aces. The agreement runs through the 2027 season, marking BetMGM’s first major partnership with a women’s professional sports franchise. Key features include prominent signage at Michelob ULTRA Arena at Mandalay Bay Resort and Casino and sponsorship across Aces social media platforms. Added components of the partnership for BetMGM players include courtside access to pre-game shootarounds and luxury VIP seating.
BetMGM will also serve as an authorized gaming partner of the WNBA through the 2027 season. Under the agreement, BetMGM will receive commercial inventory on nationally televised games, WNBA tickets and experiences for its VIP players, the rights to co-branded content across BetMGM’s digital and social platforms, and articles on wnba.com/WNBABet. Additionally, BetMGM plans to release a WNBA-branded online slot game in the near future in jurisdictions where its iGaming platform is live. The slot game will be available exclusively at BetMGM and represents the first-ever WNBA online casino game.
Adam Greenblatt, CEO of BetMGM, said: “As we enter this era of tremendous growth in women’s sports, BetMGM could not have two better organizations to partner with than the WNBA and the Aces. Not only do the Aces play in our backyard at Mandalay Bay, but they share our commitment to giving back to the community.”
On May 27, executives from BetMGM, Las Vegas Aces, MGM Resorts International, and The Just One Project (a cornerstone nonprofit committed to increasing access to food, resources and supportive services in Southwest Nevada) gathered in front of The Fountains of Bellagio to launch their partnership. Aces President Nikki Fargas and BetMGM Director of Team & League Partnerships Molly Wurdack-Folt led the festivities, unveiling plans for the “BetMGM Steals for Meals” program whereby BetMGM will donate $50 for The Just One Project to provide meals to food-insecure families for every Aces steal at Michelob ULTRA Arena.
“The Las Vegas Aces are proud to partner with BetMGM for many reasons, but especially for the support they will provide to The Just One Project. As one of the best defenses in the league the past few seasons, especially in front of our home fans, and knowing that each steal will help families in need, this gives our team even more incentive to lock down our opponents on the defensive end,” said Fargas.
Lance Evans, SVP Sports and Sponsorships, MGM Resorts International, said: “Since 2018, the Las Vegas Aces have played a pivotal role in our city’s growth as a global sports and entertainment destination. Together with BetMGM, we look forward to hosting gameday events at Mandalay Bay, as well as our other properties, allowing local and visiting fans to interact with their favorite basketball teams.”
Betting on the WNBA has increased exponentially, and BetMGM experienced 133% growth year-over-year during the 2024 season. BetMGM now offers more betting options than ever before including player props, odds on the 2025 Commissioner’s Cup and increased playoff offerings.
“On the heels of an incredible 2024 season when WNBA delivered significant growth in all areas of fan engagement, and with so much excitement surrounding the 2025 season, we want to continue to lean into betting and finding new and innovative ways to engage with our fans and provide the experiences they want,” said WNBA Chief Growth Officer Colie Edison.
“BetMGM is doing just that by offering new and expansive betting markets for WNBA fans. And by partnering with the Aces, BetMGM continues to recognize the extraordinary potential for growth that comes from tapping into the power of women’s sports and the connections fans have to their favorite players and teams.”
Canada
High Roller Submits Gaming License Application in Ontario

High Roller Technologies, operator of the premium online casino brands High Roller and Fruta, announced the submission of its Internet Gaming Operator license application in Ontario, Canada, targeting the launch of its flagship brand HighRoller.com in the second half of 2025.
“The submission of our licensing application to access Ontario’s regulated online gambling market is an important milestone in our Company’s journey. Once our application is approved, we anticipate that we will have the opportunity to launch our online casino product into the market later this year,” said Ben Clemes, Chief Executive Officer at High Roller.
Ontario is one of the largest regulated online gambling markets in the world as measured by gross gaming revenue. In 2024, regulated online gambling operators within the province generated approximately $2.3B in gross gaming revenue, and growth continues to be recorded in the first half of 2025. Recently, the province of Alberta passed enabling legislation to establish a regulatory framework for online gambling. Once available, the Company also intends to pursue licensure in Alberta to expand its regulated market footprint in Canada.
“Ontario is missing an elegant brand like High Roller. We’re excited to roll out the red carpet for our new customers, and we’re looking forward to showcasing our tremendous product,” said Clemes.
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