Bragg Gaming Group
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 |
€15.8 |
€13.8 |
14.4% |
Gross profit |
€8.0 |
€6.0 |
33.3% |
Gross profit margin |
51.0% |
43.8% |
720bps |
Adjusted EBITDA |
€1.5 |
€1.3 |
22.2% |
Adjusted EBITDA margin |
9.8% |
9.1% |
70bps |
Wagering revenue |
€3.1B |
€3.4B |
-8.4% |
Euros |
FY-21 |
FY-20 |
Change |
Revenue |
€ 58.3 |
€ 46.4 |
25.6% |
Adjusted EBITDA |
€7.2 |
€5.5 |
29.8% |
Wagering revenue |
€14.3B |
€11.8B |
21.1% |
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 €15.8 million (USD $17.5 million) and Adjusted EBITDA of EUR €1.5 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 €58.3 million (USD $64.7 million) and EUR €7.2 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 €68-72 million (USD $76-80 million) and Adjusted EBITDA of EUR €9.5-10.5 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 €15.8 million (USD $17.5 million) in Q4 2021 compared to EUR €13.8 million (USD $15.3 million) in Q4 2020.
- Wagering revenue generated by customers decreased 8.8% to EUR €3.1 billion (USD $3.4 billion) compared to EUR €3.4 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 €8.0 million (USD $8.9 million) from EUR €6.0 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 €1.6 million (USD $1.8 million), a decline from a net loss of EUR €5.3 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 €1.5 million (USD $1.7 million), an increase of 22.2% compared to EUR €1.3 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 €16.0 million (USD $17.8 million).
2021 Full Year Financial Results and other Key Metrics Highlights
- Revenue increased by 25.6% to EUR €58.3 million (USD $64.7 million) for 2021 compared to EUR €46.4 million (USD $51.5 million) in 2020.
- Wagering revenue generated by customers increased 21.1% to EUR €14.3 billion (USD $15.9 billion) compared to EUR €11.8billion (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 €28.3million (USD $31.4 million) from EUR €20.2million (USD $22.4 million) in 2020, reflecting a 510 basis point margin improvement to 48.6%.
- Net loss for the period was EUR €7.5 million (USD $8.3 million), an improvement from the net loss of EUR €14.6 million (USD $16.2 million) in 2020.
- Adjusted EBITDA was EUR €7.2 million (USD $8.0 million), an increase of 29.8% compared to EUR €5.5 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 €68-72 million (USD $76-80 million) and Adjusted EBITDA of EUR €9.5-10.5 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.
Powered by WPeMatico
Bragg Gaming Group
SCCG Announces Strategic Partnership with Bragg Gaming Group

SCCG Management, a leading advisory firm in the global gaming industry, has announced a strategic partnership with Bragg Gaming Group, a worldwide leader in iGaming technology and content solutions.
Through this partnership, SCCG will leverage its extensive global network to introduce operators to Bragg’s award-winning Player Account Management (PAM) platform. Bragg’s PAM delivers a fully managed, end-to-end solution that empowers online casino, sportsbook, and lottery operators with seamless integration, robust compliance support, automated KYC and fraud prevention tools, personalized CRM campaigns, and data-driven player engagement features.
With Bragg’s PAM, operators can manage their entire product suite across casino, sports, and lottery verticals through a single account and single wallet—driving stronger retention, higher lifetime value, and scalable growth across regulated markets.
SCCG is uniquely positioned to support the distribution of Bragg’s technology through its global client partner ecosystem, which spans over 130 partners worldwide. With deep relationships across operators, suppliers, and regulators, SCCG will ensure Bragg’s solutions are presented to the right partners in the right markets, accelerating adoption and maximizing impact.
In addition, SCCG will leverage its decades of experience in tribal gaming, where the company has built trusted relationships with tribal operators across North America. Through its Tribal Roadshow and ongoing collaborations, SCCG has consistently introduced innovative technologies that enhance tribal operations. By aligning Bragg’s leading PAM with these relationships, SCCG will provide tribal operators with advanced tools to streamline operations, strengthen compliance, and expand player engagement across both retail and online environments.
Stephen Crystal, Founder and CEO of SCCG Management, commented: “We are thrilled to partner with Bragg, whose PAM platform represents one of the most advanced and trusted solutions in the iGaming industry. At SCCG, we pride ourselves on connecting operators with technologies that drive sustainable growth and compliance across global markets. Bragg’s innovative platform and proven track record make them an ideal partner for operators seeking both efficiency and differentiation in highly competitive environments.”
Matevz Mazij, CEO, Bragg Gaming Group, said: “We’re thrilled to partner with SCCG Management, a respected leader in the global gaming industry. This strategic partnership is a pivotal step for Bragg Gaming Group, aligning two companies dedicated to shaping the future of online gaming.
“SCCG’s unparalleled global network provides the perfect channel to introduce operators to our award-winning Player Account Management (PAM) platform and expand our footprint with operators worldwide.
“This collaboration will enable us to deliver our scalable, responsible, and player-focused solutions to more partners, accelerating the distribution of our technology and strengthening our position as a global leader in iGaming technology.”
The post SCCG Announces Strategic Partnership with Bragg Gaming Group appeared first on Gaming and Gambling Industry in the Americas.
Bragg
Luka Pataky Joins Bragg Gaming Group as EVP of AI and Innovation to Spearhead Growth and Usage of New Technologies Across Business

Bragg Gaming Group, a global leader in next-generation iGaming content and content delivery, engagement and player management technology, today proudly announces the appointment of Luka Pataky as Executive Vice President (EVP) of AI and Innovation.
In his new role, Pataky will work closely with Bragg’s technology teams to develop a 360॰ AI strategy, integrating AI into product development and design, user experience, external communications, safer gambling initiatives and internal processes to drive growth and efficiency.
This strategic leadership addition comes as part of Bragg’s commitment to the leveraging of data, advanced analytics and powerful AI to enhance user experience, player engagement, maximize revenue potential, and drive smarter, more efficient iGaming operations.
Luka Pataky boasts a strong pedigree in AI and technology, with over a decade of experience at Sportradar, a company at the forefront of sports data and content. His tenure at Sportradar culminated in his role as Senior Vice President for Automated Content, where he spearheaded an initiative from its inception to a production-ready, scalable system that ended up powering over 300,000 sports events per year with a team of over 70.
In this leadership position, he was instrumental in revolutionizing sports content creation through AI, Computer Vision, and Deep Learning, successfully bringing real-time data collection solutions to production, being the driving force behind integrating acquired tech businesses, thereby turning advanced technology into significant business value through the optimization of operating costs and business efficiencies.
Prior to his SVP role, Pataky played a key role in establishing Sportradar’s innovation unit, a hub for pioneering new ideas, implementing processes that enabled faster experimentation and fostering a culture of rapid prototyping and testing.
As part of this, he also led the team responsible for scaling Sportradar’s startup program and forging strategic innovation partnerships with universities and innovation labs. In his multiple innovation-based roles, he demonstrated a consistent focus on leveraging AI and data analysis to identify and develop new product opportunities and strategic initiatives.
His extensive experience across these leadership roles highlights his proven ability to lead large, cross-functional teams, manage complex technological advancements, and strategically integrate new ventures, underscoring his expertise in driving growth and innovation within the technology sector.
Known globally for its award-winning iGaming content and technology solutions, Bragg has consistently championed the integration of artificial intelligence technology across its business model, as typified by the introduction of an AI-powered Games Recommendation System into its Fuze marketing and promotional toolset.
The Company has also utilised AI extensively across its responsible gambling work, using these new technologies and extensive data collection to more effectively identify at-risk gamblers.
“Luka Pataky is the ideal hire for Bragg, as we look to supercharge our AI and innovation ambitions,” said Matevž Mazij, Chief Executive Officer at Bragg. “His extensive experience of being at the forefront of this gamechanging technology and innovation will help springboard Bragg into the next iteration of our growth. With the increased adoption of AI across the iGaming industry, Bragg has once again shown its commitment to staying ahead of the competition.”
“Bragg has always struck me as a company where technology and innovation are key drivers,” said Luka Pataky. “This is a company which is always pushing the boundaries, using its extensive knowledge and the skills of its teams to create and set new trends. It sits on vast amounts of user data and insight, which we can turn into intelligence that will power next generation player engagement. Introducing AI at all levels of product and operations will make it perfectly positioned for future growth.”
“I am looking forward to playing a role in accelerating Bragg’s journey to becoming an AI-first company. I have no doubt we’ll be able to compliment and elevate Bragg’s already amazing next generation player experiences for its operator partners and drive value for the business.”
The post Luka Pataky Joins Bragg Gaming Group as EVP of AI and Innovation to Spearhead Growth and Usage of New Technologies Across Business appeared first on Gaming and Gambling Industry in the Americas.
Bragg Gaming Group
Bragg Gaming Expands U.S. Content Footprint with Fanatics Casino Tri-State Launch

Bragg Gaming Group has announced the launch of its newest games and Remote Gaming Server (RGS) technology with Fanatics Casino across New Jersey, Michigan and Pennsylvania.
Fanatics Casino is America’s fastest growing online casino and is available in Michigan, New Jersey, Pennsylvania, and West Virginia on iOS, Android, and desktop. Players are invited to dive into a world of thrills as Fanatics Casino brings the casino floor directly to a customer’s fingertips, whether on-the-go or in front of a computer. Players can explore a wide array of classic and modern casino games, including slots, blackjack, roulette, progressive jackpots and video poker. Each game is crafted to deliver authentic casino action, ensuring endless entertainment.
Players in these states will benefit from access to Bragg’s full catalog, including titles from Bragg’s in-house proprietary content development studios, a roster which includes Atomic Slot Lab and Indigo Magic and Wild Streak Gaming, all through Bragg Gaming’s Remote Games Server (RGS) technology, delivered via the Bragg HUB platform.
In addition, titles from Bragg’s multiple studio partners, including Incredible Technologies, Bluberi, King Show Games, and Sega Sammy Creation will also be available to players in all three regulated markets along with top-performing titles like “Cai Fu Emperor Ways” and “Queenie” and a host of other elevated content from Bragg’s Atomic Slot Lab studio.
This roster of studio partners, which is constantly being updated, now also includes Boomerang Studios, Four Leaf Gaming and Reflex Gaming, who will all launch titles on the Bragg RGS later this year.
This expansion is the latest step in Bragg’s drive to deliver engaging and game-changing content to players across the North American market.
The launch supports Bragg Gaming’s strategic goals by accelerating the growth of utilization of Bragg’s exclusive and proprietary content, and the diversification of revenue through expansion into North American markets.
Matevz Mazij, CEO Bragg Gaming Group commented: “With its history of connecting sports fans with merchandise they love and with sports betting and the strong cross sell between sports betting and iGaming, this launch represents a great opportunity to showcase Bragg’s amazing titles across the three biggest iGaming markets in the US.”
“We look forward to developing our relationship as a key partner of Fanatics Betting and Gaming in the North American market as we continue the roll-out with regular new game releases planned.”
Kieron Shaw, Manager of Fanatics Casino Games Content, said: “We’re thrilled to partner with Bragg Gaming Group to bring their diverse and engaging iGaming content to our players in New Jersey, Michigan, and Pennsylvania.”
“This collaboration is a significant step in our strategy to expand our iGaming offerings and capitalize on the substantial growth projected for these key markets. Bragg’s impressive catalogue, including titles from Wild Streak Gaming and their third-party studio partners, along with their innovative promotional tools, will undoubtedly enhance the gaming experience for our users and help us springboard our presence across these important states.”
The post Bragg Gaming Expands U.S. Content Footprint with Fanatics Casino Tri-State Launch appeared first on Gaming and Gambling Industry in the Americas.
-
booth 5028-26 days ago
Redefine the Rules: GR8 Tech’s Heavyweight Rulebook Lands at SiGMA Central Europe 2025
-
Amusnet6 days ago
Amusnet Enters into Partnerhip with Palms Bet
-
Akshat Rathee3 days ago
PlayStation and NODWIN Gaming Announce the Fourth Edition of the PlayStation India Cup Featuring EA SPORTS FC 26
-
Asia6 days ago
DigiPlus, BingoPlus Foundation Deploy 1000 Family Relief Packs to Earthquake-hit Cebu
-
2026 FIFA World Cup6 days ago
JBO Thailand Launches Promotional Campaign for 2026 FIFA World Cup
-
Belatra4 days ago
Belatra set to unearth ancient treasures at SiGMA Central Europe
-
Asia5 days ago
Indian Government Releases Draft Rules for Online Gaming Act 2025
-
Asia4 days ago
KONAMI Teams Up with Sunil Chhetri to Celebrate Diwali with Exclusive eFootball™ Content and National Tournament