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Exclusive interview: Gaming1’s Chief Business Development Officer, Victor Araneda details the company’s US growth strategy
Following its joint venture with Delaware North, Gaming1 is moving its focus to the exciting US market, where it recently opened its latest office in Miami.
With plenty more developments in the pipeline, Gaming Americas spoke to the company’s Chief Business Development Officer, Victor Araneda, about its plans for the US market and what will differentiate them from the competition.
Talk us through GAMING1’s 2021 – what were your key successes and how has your entrance into the North American market performed so far?
Last year was extremely busy as we completed our US joint venture with Delaware North and set up our platform to debut in the first few states. We worked incredibly hard in putting together a state-of-the-art product and a very exciting collection of talent for our joint venture in the US, Gamewise, including our General Manager John Worthington.
On top of that, we recently opened our new offices in Miami, and I speak for all of us when I say we’re looking forward to launching operations with the new technology at our disposal. It was a fantastic year, but now it’s all about 2022 as the US opportunity opens up more and more and we will be on hand to help our partners take advantage.
With upcoming events on the calendar in the US, how do you plan to showcase what GAMING1 brings as a unique partner to the market?
It’s been so long since we’ve been able to have everyone under the same roof, so I think we are all looking forward to that in and of itself. Having spent the better part of the last 17 years travelling to events like these, I’m eager to get back on the road. Rest assured, I will be in attendance at all the upcoming events introducing prospective partners to our technology and unique business model.
Gamewise, as a turnkey operator with strong casino lineage, understands the need to strengthen the potential of our land-based partners and the bond they’ve created over time with their patrons. We bring the technology and know-how to expand that relationship into the interactive environment. Our platform was created with the earned secret of that lineage. It is flexible and modular because we believe that an effective interactive offering should have a multi-provider approach for both sports betting and iGaming, just like an operator would have on a casino floor.
Going into more detail on your Delaware North partnership – what has the deal entailed and what are your plans for growth together?
Delaware North and Gaming1 share so much of the same DNA and business philosophy. Two entities still owned by families that embody the spirit of true partnership in the United States and Europe. These are businesses built with a client-oriented approach which is reflected in our technology. We truly understand the strength of tradition and the power of brand and the value of land-based converging into the interactive environment.
Gamewise will be looking to not just operate in jurisdictions where we have direct access but to also share our technology with partners that share the same vision and want to bring their businesses into the digital world in other states.
Looking at the US market as a whole – which states has GAMING1 got its eye on for future plans?
It’s no big secret that we’re planning to deploy our technology in all states where Delaware North currently operates. We’re also putting together an ambitious plan that includes market access and B2B partnerships. Our parent companies were built through partnerships, and we look for Gamewise to continue that tradition and bring that experience to the online arena through partnerships. The exciting thing about the US market is how new it is and how fast it is evolving. We are certainly looking forward to assessing the landscape as it regulates further throughout 2022.
How key do you believe the likes of New York and Florida are going to be in terms of new states fueling a further surge in US betting handles?
It’s somewhat disappointing to see that two of the largest and most influential states in the union have taken so long to come on board and produce competitive legislation. In terms of fuel for the industry, our eyes and praise have long been for states that have embraced online casino side by side with sports betting, with the most recent examples being West Virginia and Michigan.
We believe that legislation that allows for all verticals and robust products should be the norm as they offer the most value for players and all stakeholders. There are hopeful signs of moving in this direction in a number of states.
Moving further North to Canada, what potential do you see the market holding?
Gaming1, together with Delaware North, are looking forward to the continued rollout of legislation across Canada. It’s a market we feel will do very well and that is taking a conscientious approach to regulation.
Several jurisdictions in the country have been predicted to be some of the most attractive in North America. One very reliable recipe for success for any state is a high population, highly competitive market, sizable player volumes and high bonus offers. The combination of these elements makes Canada one to keep an eye on.
And last but not least, looking at LatAm, where you’ve already achieved plenty of success – how do you see the LatAm market shaping up for 2022?
We feel there’s still so much to do in Latin America in terms of specific regulation and market development. On top of that, weakening economic prospects in some of these major countries, including Brazil, continues to make this difficult to predict. The region’s economy still seems to be sluggish and trying to bounce back from the pandemic. Some signs indicate a potential rebound, however, particularly in countries with high vaccination rates.
It feels like only yesterday, but it’s been over four years since Colombia passed their clearly successful regulation model and yet so many of their neighbors have failed to follow that example. Gaming1 still feels bullish about the prospects of the region and will be waiting with bated breath for new openings.
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Bragg Gaming Group has announced its financial results for the fourth quarter of 2025.
Fourth Quarter 2025 Financial Highlights:
• Revenue Growth: Record total quarterly revenue of €27.7 million in the fourth quarter:
• Revenue increase of 5.1% (excluding The Netherlands) compared to the prior year period in 2024;
• The Netherlands revenue decreased 4.6% year-over-year due to the market’s overall contraction caused by increased regulation and higher taxes;
• Brazil revenue increased 42.1% compared to the 2024 fourth quarter with continued growth in provider onboarding; and
• US recurring revenue grew 55.0% year-over-year, driven by expanded high-margin proprietary content footprint; and
• Including the impact of The Netherlands, total revenue grew 1.9% year-over-year.
• Operating Loss, Net Loss and Adjusted EBITDA: Operating loss for the quarter was €0.1 million, a €0.6 million improvement from an operating loss of €0.7 million in the same period of 2024. Net loss for the quarter was €1.3 million, or €0.05 per common share, compared to €0.7 million, or €0.03 per common share, in the same period of 2024. Adjusted EBITDA for the 2025 fourth quarter was €4.6 million (representing an Adjusted EBITDA Margin of 16.5%), compared to €4.7 million (representing an Adjusted EBITDA Margin of 17.2%) in Q4-2024.
• Strategic Market Expansion in the US and Brazil: Expanded U.S. content footprint through the launch of its exclusive and bespoke online casino content with Caesars Entertainment in West Virginia. Bragg also launched exclusive and aggregated content with several valued clients operating in Brazil (and other key LatAm jurisdictions), including Brazino777, Blaze, and Super Technologies.
Full Year 2025 Financial Highlights:
• Revenue Growth: Record total annual revenue of €106.1 million in 2025, an increase of 4.0% compared to €102.0 in the year ended December 31, 2024.
• Operating Loss, Net Loss and Adjusted EBITDA: Operating loss for 2025 was €5.3 million, compared to €3.5 million in 2024. Net loss for 2025 was €8.1 million, or €0.32 per common share, compared to €5.1 million, or €0.21 per common share, in 2024. Full year 2025 Adjusted EBITDA was €16.6 million (representing an Adjusted EBITDA Margin of 15.6%), compared to €15.8 million (representing an Adjusted EBITDA Margin of 15.5%) in 2024.
• Balance Sheet Strength: During the year ended December 31, 2025, the Company fully repaid a US$7.0 million secured promissory note and entered into a financing agreement with a Tier One Canadian financial institution for certain revolving credit facilities in a maximum aggregate amount of up to US$6.0 million, replacing its prior debt at less than half the borrowing cost. During the second half of the year, the Company drew C$4.5 million in principal and US$1.1 million in overdraft in respect of Term CORRA loans. Cash and cash equivalents as of December 31, 2025 amounted to €6.7 million.
Fourth Quarter 2025 and Recent Business Highlights:
• Bolstered Leadership Team: Appointed Morten Tonnesen as its new Chief Operating Officer and promoted Garrick Morris to the position of Executive Vice President of Global Content, US & Canada.
• Player Account Management (PAM) Expansion in Europe: Announced the extension of its existing PAM platform agreement with valued client 711.nl to include the regulated Belgian iGaming market, with potential for future Bragg-powered online casino launches in additional regulated or newly regulating iGaming markets. Also, extended its existing PAM agreement with Entain Plc (LSE: ENTL), one of the world’s largest sports betting and gaming groups for BetCity.nl, a leading Dutch market operator, and with Senator Group, an online casino market leader in Croatia.
• Finnish Market Liberalization Preparations: Signed a comprehensive PAM platform and turnkey solution agreement with SuomiVeto, a market entrant led by the successful founders of BetCity.nl, focused on positioning SuomiVeto as a leading operator, and Bragg as a leading supplier, in the newly regulated Finnish iGaming market when it launches. The market is scheduled to “go live” for private operators on July 1, 2027.
• Ambitious Artificial Intelligence (AI) Transformation Plan: Leapt into an “AI-First” future by initiating the development of the Bragg AI Brain, a data-driven artificial intelligence engine designed to power smarter decisions and intelligent products across the Bragg’s Ecosystem. The transformation plan is underpinned by clear 2027 targets, including ensuring an AI-Enhanced Product becomes standard in over 90% of all launches and having more than three-quarters of Bragg’s operational workflows impacted by AI.
• Strategic Restructuring to Reduce Cost Structure and Improve Operating Performance: Announced a strategic restructuring, including an approximately 12% reduction of global workforce, designed to realign the organization and thereby improve its overall cost structure, drive its EBITDA growth, and shorten the time required for it to achieve sustained net profitability. The Company expects to incur restructuring costs related to this action of approximately €1.0 million associated with personnel-related termination costs in the first quarter of 2026, and it anticipates annualized cash savings from its staff reductions and other restructuring efforts to be approximately €4.5 million. This amount does not include the expected positive impact of the Company’s initiative to the Bragg AI Brain to drive cost efficiencies and improve operational excellence.
• Greater Board of Directors Alignment with Shareholders: From January 1, 2026, fees are being paid to directors exclusively in deferred share units (DSUs) on a monthly basis (with no cash alternative).
Matevž Mazij, Chief Executive Officer at Bragg, said: “We continued to execute well, delivering record revenues, strategic expansion and important AI and restructuring initiatives. We believe this positions Bragg well for 2026 and beyond to: increase our overall content market share in Brazil and the United States; pursue emerging alternative markets, such as Historical and Live Racing and Prediction Markets; move into new jurisdictions that offer opportunities for higher margin content business; deliver enhanced operational leverage; meet our goals to streamline internal processes; enhance overall efficiency across our organization; protect our cash runway; and advance us further along the path toward EBITDA growth and net profitability.”
Board Changes
The Company also announced the appointment of Thomas Winter to its Board of Directors. Mr. Winter succeeds Kent Young, who has retired from the Board. Both changes to the Bragg Board are effective immediately.
Mr. Winter brings deep knowledge of and experience in the iGaming and wagering industry. Currently a Board Member of Rush Street Interactive, which through its brands, BetRivers, PlaySugarHouse and RushBet, was an early entrant in several regulated jurisdictions, Mr. Winter began his career in the gaming sector nearly two decades ago and has since established himself as a leader in the field. In 2013, he founded Golden Nugget Online Gaming (GNOG), where he served as President. Under his leadership, GNOG became a top online gaming operator in New Jersey, achieving significant market share and recognition, went public and was later successfully sold for over $1.5 billion to DraftKings, where he developed their multi-brand online casino strategy and led their online casino business until September 2023. Before founding GNOG, he was the CEO and director of Betclic, a major European online sports betting and gaming operator, and Expekt, a pioneer brand in the online gaming industry, within the Betclic Group. Mr. Winter played a key role as COO at both businesses before being appointed CEO.
“I would like to thank Kent for his many contributions to the Company. I am also very pleased to welcome Thomas to our team. Moving forward, the Board and management team will be steadfast in our aim to close the clear and persistent gap between the Company’s public market valuation and our assessment of its intrinsic value. To that end, as Thomas is a gaming industry luminary who has earned my deep personal admiration and great professional respect, I am confident that he will be a tremendous asset to our Board and to our shareholders,” said Holly Gagnon, Chair of the Bragg Board.
2026 Outlook
The Company anticipates full year 2026 revenue between €97.0 million and €104.5 million and Adjusted EBITDA of €16.0 million to €19.0 million (representing an Adjusted EBITDA Margin of 16.0% to 18.0%).
The post Bragg Gaming Group Reports Record Fourth Quarter and Full Year 2025 Revenues appeared first on Americas iGaming & Sports Betting News.
Media Troopers is positioning itself for entry into Alberta’s soon-to-launch regulated online gambling market through a strategic partnership with Canadian law firm Segev LLP.
The collaboration will see the affiliate marketing and customer acquisition specialist work closely with legal experts Ron Segev and Alon Segev to navigate the province’s evolving regulatory framework. The firm will advise on compliance, licensing readiness, and market entry strategy as Alberta finalises its iGaming model.
Alberta is set to become only the second Canadian province to regulate commercial online gambling, following the launch of Ontario’s market in 2022. The province took a major step forward with the passage of the iGaming Alberta Bill, which establishes a legal framework for private operators and introduces the Alberta iGaming Corporation to oversee the sector.
This regulatory shift is expected to open significant opportunities for operators and service providers alike, particularly as Canada’s iGaming landscape continues to expand. Industry observers often point to Ontario’s rollout as a benchmark, with oversight from bodies such as the Alcohol and Gaming Commission of Ontario, which has helped shape standards around licensing, compliance, and player protection.
As part of its expansion strategy, Media Troopers aims to support licensed operators entering Alberta with localized marketing solutions, including affiliate partnerships and compliance-led acquisition strategies tailored to the province’s regulatory requirements.
Commenting on the development, Shmulik Segal, CEO of Media Troopers, said:
“Alberta represents one of the most exciting emerging regulated markets in North America.
“Working with Ron Segev and the team at Segev LLP ensures that our expansion into the province will be aligned with the evolving regulatory framework and positioned for long-term success.”
Segal added:
“Canada’s iGaming market continues to evolve rapidly. Our goal is to be fully prepared to support operators entering Alberta from day one.”
The move highlights a broader trend in North America, where affiliate and marketing firms are increasingly aligning with legal and regulatory specialists ahead of market openings. This approach not only reduces compliance risk but also allows companies to establish early positioning in newly regulated jurisdictions.
For more on Canada’s evolving iGaming landscape, see Europa Gaming’s coverage of Ontario iGaming Market Launch and North America Gambling Regulation.
With Alberta’s framework nearing completion, early movers like Media Troopers are aiming to replicate the success seen in Ontario—where strong compliance foundations and localised strategies have proven critical to long-term growth.
The post Media Troopers Prepares for Alberta iGaming Launch with Canadian Gaming Law Firm appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
The leading digital marketing and customer acquisition group Media Troopers has announced it’s gearing up to join Alberta’s upcoming iGaming-regulated market by partnering with Alon Segev, Managing Partner and Ron Segev, founder of Canadian gaming and betting law firm Segev LLP.
Alberta will become Canada’s second province to regulate commercial online gambling, following Ontario in 2022. The province passed the iGaming Alberta Bill last May, which brought with it a framework to allow operators to enter the province and the creation of a new iGaming regulator, the Alberta iGaming Corporation.
As part of Media Troopers’ strategic entry into the new sector, it has partnered with Segev, who will advise the company on regulatory strategy, compliance requirements, and market readiness as Alberta finalizes its operational and licensing framework.
“Alberta represents one of the most exciting emerging regulated markets in North America,” said Shmulik Segal, CEO of Media Troopers.
“Working with Ron Segev and the team at Segev LLP ensures that our expansion into the province will be aligned with the evolving regulatory framework and positioned for long-term success.”
As with Ontario’s competitive market, Media Troopers is dedicated to supporting licensed operators in Alberta with localized marketing channels, affiliate partnerships, and compliance-structured acquisition strategies.
“Canada’s iGaming market continues to evolve rapidly,” Segal added. “Our goal is to be fully prepared to support operators entering Alberta from day one.”
The post Media Troopers Prepares for Alberta iGaming Launch with Canadian Gaming Law Firm appeared first on Americas iGaming & Sports Betting News.
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