Bragg shares Early 2024 Analysis, Offers Upbeat Forecast for 2025 Financial Outlook

Bragg Gaming Group, a leading iGaming solutions provider, is gearing up for an exciting 2025, with expectations of double-digit revenue growth by the end of the year. According to the company's CEO, Matevž Mazij, this optimistic forecast is due to a shift in revenue concentration and growth in key gaming markets, including North America and Brazil.

The company's strategy for further growth is set up across multiple jurisdictions, with Brazil's newly regulated market and the US becoming core markets. Bragg Gaming expects up to 10% of its annual revenue to come from North America, and up to 15% from Brazil.

In the US and Canada, Bragg Gaming has secured deals with leading operators such as Penn National Gaming, Bally's Corporation, DraftKings, FanDuel, Rush Street, Caesars, and BetMGM. The company's product currently reaches 85% of the American iGaming market, and it achieved an impressive 85% market share in New Jersey and Pennsylvania following agreements in 2024.

The recently announced Caesars deal involves Bragg Gaming powering Caesars' iGaming business with both content and technology. This strategic partnership is expected to contribute significantly to Bragg Gaming's growth in the US market.

Bragg Gaming also plans to expand its business in key Western European markets. The company's Adjusted EBITDA for FY 2024 is expected to reach EUR 15.4 million ($16.7 million), with revenue for the year ending December 31, 2025, projected to be in the range of EUR 117.5-123 million ($127.1-133 million). Adjusted EBITDA for the same period is expected to reach between EUR 19 million ($20.6 million) and EUR 21.5 million ($23.3 million).

To support its growth in 2025, Bragg Gaming will focus on partnerships with new studios, tech improvements, PAM improvements, artificial intelligence opportunities, and a better pipeline. The company has also introduced a new Stock Appreciation Rights (SAR) plan that would pay out if the company manages to increase its share price fourfold over the next three years.

CEO Matevž Mazij is particularly proud of the strong executive team assembled at the company, which he believes is instrumental in driving Bragg Gaming's success. With a clear focus on growth and a strong team in place, Bragg Gaming is well-positioned to capitalise on the opportunities in the rapidly evolving iGaming market.