Bragg Gaming Group
BRAGG GAMING APPOINTS LARA FALZON, ACCOMPLISHED iGAMING EXECUTIVE, AS PRESIDENT AND CHIEF OPERATING OFFICER
Bragg Gaming Group, a global iGaming technology and content provider, announced today that it has appointed Lara Falzon, an accomplished iGaming executive and member of the Company’s Board of Directors since March 1, 2021, to the new position of President and Chief Operating Officer. Ms. Falzon brings more than 10 years of industry experience to the new role, including a significant track record of managing and structuring several multi-billion-dollar gaming transactions.
As Chief Operating Officer, Ms. Falzon will be responsible for the primary oversight of the Company’s day-to-day operational performance and will help guide the ongoing execution of Bragg’s growth-focused strategies. She will also be responsible for fostering company-wide success-oriented accountability.
Commenting on Ms. Falzon’s appointment, Bragg’s Interim Chief Executive Officer and Chairman of the Board, Paul Godfrey, said, “Lara’s skill set and significant gaming industry accomplishments will serve to drive further improvements in our day-to-day operations, continued progress against our strategic initiatives, and overall financial growth. We look forward to benefiting from her oversight and guidance of our business practices and objectives as we continue to execute on our global growth strategy.”
“Having evaluated the Company’s opportunities and growth strategies since joining the Board, I am excited to take on this day-to-day role to further Bragg’s evolution and operational momentum,” added Ms. Falzon. “As demonstrated by the Company’s progress and success with executing on its strategies and initiatives to deliver growing, positive financial performance — including a continued expansion into new markets and focus on offering high-performing internal and external iGaming content — Bragg has already established a platform to deliver consistent growth and the creation of shareholder value. I look forward to contributing to our long-term success.”
Ms. Falzon brings significant gaming industry expertise to her new role. Ms. Falzon previously served as Operational CFO of NetEnt and CFO at Red Tiger Gaming. As CFO of casino software provider Red Tiger Gaming, she navigated its sale to NetEnt AB for over US$315 million. She also played an integral role in the sale of NetEnt to the world’s leading live casino company, Evolution Gaming (now Evolution), for US$2.1 billion. She also served as Group CFO at Evoke Gaming Ltd. and Group Financial Controller at King, creator of the Candy Crush franchise. Ms. Falzon is a member of the Association of Chartered Accountants.
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Bragg
Bragg Announces US$7 Million Secured Note Financing
Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced the issuance of a secured promissory note in the principal amount of US$7 million (the “Note”) to certain entities controlled by Doug Fallon, Managing Director of Group Content of the Company and the Founder of Nevada-based Wild Streak Gaming. The Note matures on April 25, 2025 and bears interest at an annual rate of 14%, payable quarterly.
“This financing provides the Company’s balance sheet with additional flexibility as we continue to review strategic alternatives for maximizing shareholder value and execute against our strategy,” said Matevž Mazij, Chief Executive Officer. “We would also like to thank The Lind Partners for their cooperation in providing a waiver consenting to the Note funding”.
“After reporting another consecutive full year of strong revenue, gross profit and Adjusted EBITDA growth in 2023, we are exceptionally well placed to capitalize on our in-demand content, product and technology verticals in major iGaming markets in North America, Europe and LatAm. From our market-leading player account management (“PAM”) platform and turnkey solutions to our unique casino content aggregation offering with Fuze promotional functionality and player journey management, as well as our ever-growing exclusive content portfolio, our product strategies are refined for each market we operate in.”
The Toronto Stock Exchange (the “TSX”) has conditionally approved the issuance of the Note. The Company may use the net proceeds from the Note for general working capital purposes and strategic initiatives.
Bragg Gaming
Bragg Gaming and Light & Wonder Agree to an International Distribution Deal
Collaboration will see Bragg content featured on Light & Wonder’s ecosystem
Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced it has signed an international online casino content distribution agreement with Light & Wonder.
The agreement will see high-performing games from Bragg’s proprietary studios, Atomic Slot Lab, Indigo Magic, Wild Streak Gaming and Spin Games added to Light & Wonder’s online ecosystem.
Exclusive content from the supplier’s Powered by Bragg partners will also be integrated, providing Light & Wonder with a wide selection of highly localized and unique titles.
The deal will encompass numerous European regulated markets as well as the USA and Canada, significantly growing the reach of Bragg’s content to new audiences and strengthening the supplier’s casino offering with new titles.
Matevž Mazij, Chief Executive Officer at Bragg Gaming Group, commented: “Light & Wonder is a world-leading platform and games provider, and this distribution deal will be hugely beneficial for us, as our content will be in front of new audiences through its large operator network boosting exposure of our games.
“We have focused on strengthening our content portfolio over the last year and this partnership is a testament to the popularity and appeal of our games which have been proven successful in markets globally.”
Steve Mayes, Senior Director Digital Partnerships at Light & Wonder, said: “We are thrilled to be working closely with Bragg, and are looking forward to offering their content across our network. This deal is a great showcase for the power of our aggregation platform and global scale. We already have a number of key operators lined up to launch Bragg games and excited to further expand our portfolio of games partners.”
Bragg Gaming Group
Bragg Gaming Announces Resignation of Chief Financial Officer
Bragg Gaming Group Inc., a global B2B gaming technology and content provider, announced that Chief Financial Officer (CFO), Ronen Kannor, has notified Bragg’s board of directors (Board) that he will resign from his position to pursue other career opportunities, effective June 3, 2024. The Company confirms that the search for a replacement CFO has commenced.
Matevž Mazij, Chief Executive Officer and Chair of the Board, commented: “We thank Ronen for his dedication and commitment to Bragg over the past four years and for his unwavering service as a pivotal member of the leadership team.
“During his tenure as CFO, the Company has undergone huge positive transformation including being uplisted to the Toronto Stock Exchange, dual listed on the NASDAQ and successfully completing two acquisitions, all while reporting consecutive years of revenue, gross profit and adjusted EBITDA growth. We wish Ronen all the very best in his future endeavors.”
Ronen Kannor commented: “It has been an honor to be part of the Bragg team which has successfully navigated many challenges and continued to deliver consistent growth over the past four years. I thank the Board for their support throughout my time with Bragg, and I am now fully focused on ensuring a smooth handover to my successor.
“Special thanks goes to my finance team, who work tirelessly to deliver the positive change and financial growth that the Company continues to achieve. I wish them and all of my colleagues continued success with Bragg now and in the future.”
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