Canada
Bragg Gaming announces Q1 2021 results
First quarter revenue increases 62 per cent and Adjusted EBITDA increases by 234 per cent
2021 revenue guidance maintained at €47M
Accelerating rollout of proprietary in-house developed slot content
B2B gaming technology and content provider Bragg Gaming Group today released its financial results for the three months ended March 31, 2021.
“We’ve continued to build on the strong momentum of 2020 with an excellent first quarter,” said Richard Carter, CEO of Bragg Gaming. “Revenue is up by 62 per cent year-over-year and Adjusted EBITDA increased by 234 per cent. We’ve also seen a 54 per cent increase in the number of unique players using Bragg content, have launched nine new operators and our customer pipeline for the remainder of 2021 is expected to continue to grow and expand globally, underpinning future company growth in 2021.
“We continue to invest in our employees, our technology and our product offering, and this has allowed us to commercialise our in-house casino content studio, with our first game recently launched across our network,” continued Mr. Carter. “With further in-house casino games and player engagement tools scheduled for upcoming release, and our acquisition of Spin Games LLC laying the foundation for our strategy of building a tier one vertically integrated iGaming business in the U.S., Bragg Gaming has never been better positioned for long-term success.”
Q1 2021 financial highlights
- Revenue increased by 62 per cent to €14.2M (C$20.9M[1]) in the first quarter of 2021, compared to €8.8M (C$12.9M) for the first quarter of 2020, maintaining quarterly growth momentum since Q1 2019
- Quarter-over-quarter revenue increase of 3 per cent, from €13.8M (C$20.3M) in the fourth quarter of 2020 to €14.2M (C$20.9M) in the first quarter of 2021
- Wagering revenue generated by customers[2] up by 52 per cent to €3.5B (C$5.1B) compared to €2.3B (C$3.4B) in Q1 2020
- The number of unique players[3] using Bragg games and content increased by 54 per cent up to 2.4M, from 1.6M during the comparable period in Q1 2020
- Gross profit increased by 68 per cent to €6.6M (C$9.8M), compared to €4.0M (C$5.8M) with an increase in margins from 45 per cent to 47 per cent, mainly attributed to the shift in proportion of revenues from games and content to iGaming and turn-key services, the latter of which have lower associated cost of sales
- Net loss for the period was €1.1M (C$1.6M), a decrease of €4.6M (C$6.8M) from Q1 2020, mainly due to the full settlement of the ORYX earn-out on January 18, 2020, resulting in nil expenditure from re-measurement of deferred and contingent consideration and accretion on liabilities in the current quarter (Q1 2020: €5.0m)
- Adjusted EBITDA[4] was €2.3M (C$3.4M) in Q1 2021, up 234 per cent compared to €0.7M (C$1.0M) in Q1 2020, with an increase in margins from 8 per cent to 16 per cent, primarily as a result of higher scale
- Cash and cash equivalents as of March 31, 2021 increased to €30.1M (C$44.3M) compared to €26.1M as of December 31, 2020 (C$38.4M)
Selected first quarter 2021 performance indicators
| Euros (Thousands) | Q1-21 | Q1-20 | % |
| Revenue | 14,196 | 8,784 | 62% |
| Adjusted EBITDA | 2,342 | 702 | 234% |
| Adjusted EBITDA margin | 16% | 8% | 106% |
| Operational | Q1-21 | Q1-20 | % |
| Wagering revenue (Euros) | 3.5B | 2.3B | 52% |
| Unique players | 2.4M | 1.6M | 54% |
| Revenue/ top 10 customers | 62% | 65% | -3% |
Business highlights
- Successful launch of nine new B2C operators[5] during the period across a number of jurisdictions, including PAF (Finland), iGaming platform Senator (Croatia), Swiss market leader Casino Luzern and Maxbet (Romania)
- Improved customers revenue diversification, with 62 per cent of revenue for Q1 2021 derived from the top 10 customers, as compared to 65 per cent in Q1 2020
- Launched 11 new casino games fully certified and distributed successfully throughout the entire network
- Signed agreement to be the exclusive distributor of slots studio Sakuragate outside of Japan
- Completed a private placement for €1.9M (C$3.0M) – Board of Directors and management participated
Ongoing strategy
- On May 12, 2021, Bragg announced that it had entered into an agreement to acquire Spin Games LLC (“Spin”) in a cash and stock transaction for a purchase price of approximately US$30 million. Under the deal the sellers of Spin will receive US$10 million in cash and US$20 million in Common Shares of the Company, of which US$5 million in Common Shares will be issued on closing and the balance over the next three years. The transaction will close following final approval from state gaming regulators and satisfaction of other customary closing conditions
- Recently announced the appointment of Richard Carter to the role of CEO, effective May 1, 2021
- Announced intent to trade on the Nasdaq Stock Market and completed share consolidation to support the listing
- First in-house developed proprietary casino game launched across the Bragg network with encouraging early signs, with five more planned in the remainder of 2021
- Continuing to invest in technical infrastructure, an in-house content studio, increasing operational efficiencies, and deepening data analytics, gamification and bonusing features
- Continuing to explore strategic M&A opportunities in the U.S. and globally
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Canada
What Canadian Slot Players Are Really Comparing in 2026: Payout Speed, Interac and RTP Transparency
Canadian online slot players are becoming more practical.
The old conversion model was simple: show a big welcome bonus, list a few popular games, and hope the player clicked through. That still has a place, but it no longer reflects how better-informed casino players compare sites in 2026.
The conversation has shifted.
Players are now asking sharper questions before they deposit. How fast can I cash out? Does the casino support Interac? Are the best games actually available in Canada? What happens after I win? Are the slot terms clear? Can I see RTP information without digging through a help centre?
For operators, affiliates and suppliers watching the Canadian market, this change matters. The slot player is not just bonus-led anymore. The player is becoming banking-led, payout-led and value-led.
Payout speed has become a decision factor
Withdrawal speed is one of the biggest practical differences between online casinos.
Many casinos still market themselves around welcome packages, but the post-win experience is where trust is won or lost. Players notice pending periods. They notice extra verification steps. They notice whether withdrawals are processed quickly or whether the process feels deliberately slow.
That is why comparison behaviour around fastest payout casinos in Canada has become more commercially important. A casino can have a large slot library and a generous bonus, but if the payout process is slow, many experienced players will look elsewhere.
This is especially true for slot players. Slots create quick sessions, frequent bonus rounds and unpredictable payout moments. A player who wins on a Friday night does not want to discover that the casino only starts reviewing cashouts on Monday.
Fast payout positioning is not just a payment feature. It is a trust signal.
Interac remains central to the Canadian player journey
Interac is still one of the most important payment expectations in Canada.
For many players, it feels familiar, local and practical. It connects online casino banking with everyday Canadian banking behaviour. That matters because casino payments are a high-friction moment. Players may be comfortable browsing games, comparing bonuses and reading reviews, but depositing money is where hesitation appears.
Clear information about Interac casino payments helps reduce that hesitation.
The most useful casino pages now explain more than whether Interac is accepted. They answer questions such as:
- Is Interac available for deposits only, or withdrawals too?
- Are there minimum and maximum limits?
- Does account verification affect payout speed?
- Are e-Transfer withdrawals supported?
- Are there fees? Is Interac treated differently by province or operator?
This level of detail is valuable because Canadian players are not just asking “Can I pay?” They are asking “Can I deposit, play, withdraw and trust the process?”
That is a much more commercial question.
RTP transparency is becoming part of player value
RTP has always existed as a technical concept, but it is becoming more visible in player decision-making.
A casual player may not calculate long-term return percentages before every spin. But more players now understand that slot choice matters. They know that some games are more volatile, some bonuses are harder to clear, and some titles publish better long-term return figures than others.
This is why content around high-RTP slots is becoming more useful when it is presented properly.
The weak version of RTP content is an educational glossary: “RTP means return to player.” That is not enough anymore.
The stronger version connects RTP to actual player behaviour:
- Which high-RTP games are worth knowing?
- Which casinos offer strong slot libraries?
- How does volatility affect the player experience?
- Does the bonus structure make a high-RTP game less valuable?
- Are high-RTP slots available on mobile?
- Can Canadian players access the games easily?
RTP transparency does not mean players expect to beat the casino. It means they want clearer information before choosing where and what to play.
Mobile play is raising expectations
Canadian slot players are heavily mobile-led.
That changes the comparison process. A player may research on desktop, but the actual deposit and session often happen on a phone. If the casino lobby is slow, payment forms are clunky, or game filters do not work well on mobile, the player experience suffers.
Mobile also puts more pressure on clarity. Players do not want to scroll through huge blocks of bonus terms. They want fast answers:
- Best casino for quick withdrawals
- Best Interac option
- Best slot lobby
- Best high-RTP games
- Best mobile experience
For affiliates and operators, this means page structure matters. Tables, verdict boxes, payment summaries and direct recommendations often outperform long, generic content.
The market is moving away from generic casino comparisons
The Canadian slots market is not short of casino lists.
The issue is that many lists look the same. Same bonus-first ranking. Same generic claims. Same vague “safe and secure” language. Same lack of useful payout or banking detail.
The better opportunity is to compare casinos around real player decisions.
For Canadian slot players, that often means:
- How fast can I withdraw?
- Can I use Interac?
- What games are actually worth playing?
- Is the casino reliable after I win?
- Does the site work properly on mobile?
- Are the terms clear enough to trust?
These questions are more practical than promotional. They also create stronger commercial intent.
A player searching for payout speed, Interac support or slot value is usually further along the decision journey than someone casually browsing a bonus list.
What this means for the industry
The Canadian slot player in 2026 is not necessarily less bonus-driven. But the bonus is no longer the whole story.
The market is becoming more mature, and mature players compare the full experience. They want payment confidence, game quality, mobile usability, transparent terms and fewer surprises after depositing.
For operators, this means the product experience has to support the marketing promise.
For affiliates, it means generic casino pages are losing their edge. The stronger play is to build content around the actual comparison points players care about.
Payout speed, Interac and RTP transparency are not side details anymore.
They are becoming part of the main decision.
The post What Canadian Slot Players Are Really Comparing in 2026: Payout Speed, Interac and RTP Transparency appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Alberta
Octoplay secures conditional Alberta iGaming supplier approval from AGLC
Octoplay has secured conditional licence approval from the Alberta Gaming, Liquor & Cannabis Commission (AGLC), allowing the supplier to begin the process of offering its games catalogue to operators in Alberta.
The company said the approval positions it to launch in Canada’s newest regulated iGaming market when it opens in July. Octoplay is already live in Ontario with BetMGM and PokerStars, and has also entered the US through New Jersey and Michigan, according to the company.
“Alberta is one of the most strategic market openings on our 2026 roadmap. Entering it with the performance data we’ve built in Ontario, New Jersey, and Michigan gives us a strong foundation to be one of the first suppliers to partner with local tier-one operators as soon as the market opens,” says Ralitsa Georgieva, CEO at Octoplay.
“We’ve worked closely with the AGLC throughout the licensing process, and clearing the conditional stage reflects the strength of our compliance infrastructure,” says Martina Borg Stevens, Chief Legal Officer at Octoplay. “Our team has built a process that allows us to enter new regulated jurisdictions efficiently without compromising on the technical standards each regulator requires.”
Octoplay said Alberta adds to its regulated footprint, which it stated includes 17 operational markets: the United Kingdom, New Jersey, Michigan, Ontario, Italy, Spain, Sweden, the Netherlands, Denmark, Belgium, Greece, Romania, Malta, Slovakia, Finland, Brazil, and Georgia.
The post Octoplay secures conditional Alberta iGaming supplier approval from AGLC appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Canada
Tonybet pays first $15,000 CAD prize in World Cup Card Collection Canada promo
Bronze card has been claimed during the group stage; silver and gold prizes remain available until 31 July.
Tonybet said it has paid out its first major prize in its World Cup Card Collection campaign for Canadian customers (excluding Ontario), after a player secured the promotion’s bronze card worth $15,000 CAD.
The operator said the World Cup Card Collection includes 51 cards to collect during the tournament: 48 digital cards tied to participating World Cup nations, plus three unique cards—gold, silver and bronze—linked to a $150,000 CAD total prize fund.
According to Tonybet, the bronze card has been available through the World Cup’s group stage and has now been claimed. The silver card is available during the knockout rounds up to the quarter-finals, while the gold card is held back for the closing semi-finals and final.
Tonybet Head of Product Kiryl Liudvikevich said: “With Canada co-hosting the World Cup for the first time, the tournament has felt closer to home than ever before for Canadians, and it has already delivered a moment most supporters could only dream about with the national team advancing to the knockout stages.
“For one lucky Canada supporter, it has now produced another story that will be worth retelling long after the final whistle has gone – with our lucky winner among the first Tonybet customers to win one of the unique cards in our World Cup Card Collection, taking home a cool $15,000 for managing to get his hands on bronze. Who will end up with silver and gold?”
Tonybet said the same three unique cards are also in circulation across its other markets, with varying outcomes so far. The World Cup Card Collection campaign runs until 31 July, with a $150,000 CAD prize pool for Canada and separate prize pools in other markets.
The post Tonybet pays first $15,000 CAD prize in World Cup Card Collection Canada promo appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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