Latest news with #RobbieBressler
National Post
01-05-2025
- Business
- National Post
Bragg Gaming to Release First Quarter 2025 Results on May 15
Article content TORONTO — Bragg Gaming Group ( NASDAQ: BRAG, TSX: BRAG) (' Bragg ' or the ' Company ') today confirmed that it will release its first quarter 2025 financial results prior to the opening of the financial markets on Thursday, May 15, 2025. The release will be followed by a conference call at 8:30 a.m. Eastern Time, hosted by Bragg Chief Executive Officer, Matevž Mazij and Chief Financial Officer, Robbie Bressler, to discuss the Company's financial results and provide a business update. During the call, management will review a presentation that will be available on the day of the call and can be accessed at: Article content Article content To join the call, please use the below dial-in information: Article content Participant Dial-In Numbers USA / International Toll +1 (646) 307-1963 USA – Toll-Free (800) 715-9871 Canada – Toronto (647) 932-3411 Canada – Toll-Free (800) 715-9871 Conference ID 3967732 Article content A replay of the call will be available until May 22, 2025, following the conclusion of the live call. To access the replay, dial (800) 770-2030 or (647) 362-9199 and input Playback ID: 3967732 followed by the # key. Article content Bragg Gaming Group ( NASDAQ: BRAG, TSX: BRAG) is an iGaming content and platform technology solutions provider serving online and land-based gaming operators with its proprietary and exclusive content, and cutting-edge player account management ('PAM') technology. Bragg Studios offer high-performing and passionately crafted casino game titles using the latest in data-driven insights from in-house brands including Wild Streak Gaming, Atomic Slot Lab and Indigo Magic. Its proprietary content portfolio is complemented by a selection of exclusive titles from carefully selected studio partners under the Powered By Bragg program. Games built on Bragg's remote games server ('RGS') technology are distributed via the Bragg HUB content delivery platform and are available exclusively to Bragg customers. Bragg's powerful, modular PAM technology powers multiple leading iCasino and sportsbook brands and is supported by expert in-house managed, operational, and marketing services. Content delivered via the Bragg HUB either exclusively or from the Bragg aggregated games portfolio is managed from a single back-office which is supported by a cutting-edge data platform, and Bragg's award-winning Fuze™ player engagement toolset. Bragg is licensed, certified, or otherwise approved and operational in over 30 regulated iCasino markets globally, including in the U.S., Canada, LatAm and Europe. Article content Article content Article content Article content Article content Article content
Business Wire
25-04-2025
- Business
- Business Wire
Bragg Gaming Group To Settle USD 5 Million of Secured Promissory Note; Short-term Extension Agreement Reached for Remaining USD 2 Million
TORONTO--(BUSINESS WIRE)--Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) (' Bragg ' or the ' Company '), a leading global B2B iGaming content and technology provider, today announced it has reached an agreement with its lenders, certain entities controlled by Doug Fallon, to repay USD 5 million of its outstanding USD 7 million secured promissory note and to extend the maturity of the remaining USD 2 million until June 6, 2025 (the 'Note'). The company is in the process of securing a new revolving credit facility from a third-party lender. This facility is expected to offer more favourable terms than the existing Note, including lower borrowing costs and improved drawdown flexibility. 'This partial repayment and extension will further strengthen our balance sheet and reflects our confidence in the business,' said Robbie Bressler, CFO of Bragg. 'With a reduced need for working capital support, we're focused on finalizing a new facility to secure standby credit, allowing for greater financial flexibility and enabling us to pursue strategic growth opportunities.' All other terms of the original Note remain unchanged. Bragg intends to repay the remaining USD 2 million balance on or before the amended June 6, 2025 maturity date. MI 61-101 Disclosure Doug Fallon is a related party to the Company as he is a senior officer of the Company. The extension of the Note is considered to be a 'related party transaction' for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (' MI 61- 101 '). The Company is relying on the exemption from the formal valuation requirement in section 5.4 of MI 61-101, and the minority shareholder approval requirement in section 5.6 of MI 61-101, in reliance on section 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as at the time the extension of the Note was agreed to, neither the fair market value of the Note, nor the fair market value of the consideration payable to the lenders under the Note exceeds 25% of the market capitalization of the Company. The Company notes that the extension of the Note is occurring concurrently with this announcement and that it will not file a material change report in respect of the related party transaction at least 21 days before the extension of the Note. The Company deems this circumstance reasonable in order to complete the extension of the Note in an expeditious manner. The extension of the Note has been unanimously approved by the Company's board of directors. Cautionary Statement Regarding Forward-Looking Information This news release contains forward-looking statements or 'forward-looking information' within the meaning of applicable Canadian securities laws ('forward-looking statements'), including, without limitation, statements with respect to: the Company entering into a new debt facility and repayment of the Note; and the impact on the Company's strategic growth initiatives and corporate vision and strategy. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing readers to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or describes a 'goal', or variation of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. All forward-looking statements contained in this news release reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made in connection with the forward-looking statements include the Company's financial resources and liquidity, the regulatory regime governing the business of the Company; the operations of the Company; the products and services of the Company; the Company's customers; the growth of the Company's business, meeting minimum listing requirements of the stock exchanges on which the Company's shares trade; the integration of technology; and the anticipated size and/or revenue associated with the gaming market globally. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the following: risks related to the Company's business and financial position; that the Company may not be able to execute a new debt facility with a third party lender; risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the inability to access sufficient capital from internal and external sources; the inability to access sufficient capital on favorable terms; realization of growth estimates, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices; changes in customer demand; disruptions to our technology network including computer systems and software; natural events such as severe weather, fires, floods and earthquakes; any disruptions to operations as a result of the strategic alternatives review process; and risks related to health pandemics and the outbreak of communicable diseases. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise, except in accordance with applicable securities laws. About Bragg Gaming Group Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) is an iGaming content and platform technology solutions provider serving online and land-based gaming operators with its proprietary and exclusive content, and cutting-edge player account management ('PAM') technology. Bragg Studios offer high-performing and passionately crafted casino game titles using the latest in data-driven insights from in-house brands including Wild Streak Gaming, Atomic Slot Lab and Indigo Magic. Its proprietary content portfolio is complemented by a selection of exclusive titles from carefully selected studio partners under the Powered By Bragg program. Games built on Bragg's remote games server ('RGS') technology are distributed via the Bragg HUB content delivery platform and are available exclusively to Bragg customers. Bragg's powerful, modular PAM technology powers multiple leading iCasino and sportsbook brands and is supported by expert in-house managed, operational, and marketing services. Content delivered via the Bragg HUB either exclusively or from the Bragg aggregated games portfolio is managed from a single back-office which is supported by a cutting-edge data platform, and Bragg's award-winning Fuze™ player engagement toolset. Bragg is licensed, certified, or otherwise approved and operational in over 30 regulated iCasino markets globally, including in the U.S, Canada, LatAm and Europe.
National Post
25-04-2025
- Business
- National Post
Bragg Gaming Group To Settle USD 5 Million of Secured Promissory Note; Short-term Extension Agreement Reached for Remaining USD 2 Million
Article content TORONTO — Bragg Gaming Group ( NASDAQ: BRAG, TSX: BRAG) (' Bragg ' or the ' Company '), a leading global B2B iGaming content and technology provider, today announced it has reached an agreement with its lenders, certain entities controlled by Doug Fallon, to repay USD 5 million of its outstanding USD 7 million secured promissory note and to extend the maturity of the remaining USD 2 million until June 6, 2025 (the 'Note'). Article content Article content The company is in the process of securing a new revolving credit facility from a third-party lender. This facility is expected to offer more favourable terms than the existing Note, including lower borrowing costs and improved drawdown flexibility. Article content Article content 'This partial repayment and extension will further strengthen our balance sheet and reflects our confidence in the business,' said Robbie Bressler, CFO of Bragg. 'With a reduced need for working capital support, we're focused on finalizing a new facility to secure standby credit, allowing for greater financial flexibility and enabling us to pursue strategic growth opportunities.' Article content All other terms of the original Note remain unchanged. Bragg intends to repay the remaining USD 2 million balance on or before the amended June 6, 2025 maturity date. Article content Doug Fallon is a related party to the Company as he is a senior officer of the Company. The extension of the Note is considered to be a 'related party transaction' for purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (' MI 61- 101 '). The Company is relying on the exemption from the formal valuation requirement in section 5.4 of MI 61-101, and the minority shareholder approval requirement in section 5.6 of MI 61-101, in reliance on section 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as at the time the extension of the Note was agreed to, neither the fair market value of the Note, nor the fair market value of the consideration payable to the lenders under the Note exceeds 25% of the market capitalization of the Company. Article content The Company notes that the extension of the Note is occurring concurrently with this announcement and that it will not file a material change report in respect of the related party transaction at least 21 days before the extension of the Note. The Company deems this circumstance reasonable in order to complete the extension of the Note in an expeditious manner. The extension of the Note has been unanimously approved by the Company's board of directors. Article content This news release contains forward-looking statements or 'forward-looking information' within the meaning of applicable Canadian securities laws ('forward-looking statements'), including, without limitation, statements with respect to: the Company entering into a new debt facility and repayment of the Note; and the impact on the Company's strategic growth initiatives and corporate vision and strategy. Forward-looking statements are provided for the purpose of presenting information about management's current expectations and plans relating to the future and allowing readers to get a better understanding of the Company's anticipated financial position, results of operations, and operating environment. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or describes a 'goal', or variation of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Article content All forward-looking statements contained in this news release reflect the Company's beliefs and assumptions based on information available at the time the statements were made. Actual results or events may differ from those predicted in these forward-looking statements. All of the Company's forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions listed below. Although the Company believes that these assumptions are reasonable, this list is not exhaustive of factors that may affect any of the forward-looking statements. The key assumptions that have been made in connection with the forward-looking statements include the Company's financial resources and liquidity, the regulatory regime governing the business of the Company; the operations of the Company; the products and services of the Company; the Company's customers; the growth of the Company's business, meeting minimum listing requirements of the stock exchanges on which the Company's shares trade; the integration of technology; and the anticipated size and/or revenue associated with the gaming market globally. Forward-looking statements involve known and unknown risks, future events, conditions, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, prediction, projection, forecast, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, the following: risks related to the Company's business and financial position; that the Company may not be able to execute a new debt facility with a third party lender; risks associated with general economic conditions; adverse industry events; future legislative and regulatory developments; the inability to access sufficient capital from internal and external sources; the inability to access sufficient capital on favorable terms; realization of growth estimates, income tax and regulatory matters; the ability of the Company to implement its business strategies; competition; economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices; changes in customer demand; disruptions to our technology network including computer systems and software; natural events such as severe weather, fires, floods and earthquakes; any disruptions to operations as a result of the strategic alternatives review process; and risks related to health pandemics and the outbreak of communicable diseases. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Yahoo
21-03-2025
- Business
- Yahoo
Bragg Gaming Group Inc (BRAG) Q4 2024 Earnings Call Highlights: Record Revenue Growth and ...
Total Revenue (Q4 2024): EUR27.2 million, up 16% year-over-year. Gross Profit (Q4 2024): EUR15.8 million, a 31% increase. Gross Profit Margin (Q4 2024): 58%, up 650 basis points. Adjusted EBITDA (Q4 2024): EUR4.7 million, a 68% increase. Adjusted EBITDA Margin (Q4 2024): 17%, up 530 basis points. Total Revenue (Full Year 2024): EUR102 million, up 9% year-over-year. Gross Profit (Full Year 2024): EUR54 million, an 8% increase. Gross Margin (Full Year 2024): 53%, a decrease of 40 basis points. Adjusted EBITDA (Full Year 2024): EUR15.8 million, a 4% increase. Adjusted EBITDA Margin (Full Year 2024): 15.5%, down 80 basis points. Cash and Cash Equivalents (End of 2024): EUR10.5 million. Net Working Capital (End of 2024): EUR11.9 million. Revenue Guidance (2025): EUR117.5 million to EUR123 million. Adjusted EBITDA Guidance (2025): EUR19 million to EUR21.5 million. Warning! GuruFocus has detected 3 Warning Signs with BRAG. Release Date: March 20, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Bragg Gaming Group Inc (NASDAQ:BRAG) achieved a record high total revenue of EUR27.2 million in Q4 2024, marking a 16% increase compared to Q4 2023. The company expanded its market penetration in North America, launching in Delaware and partnering with major operators like MGM, DraftKings, and Fanatics. Bragg's proprietary content reached 90% of the US iGaming market, with significant growth in proprietary content revenue, which enhances margins. The company launched its proprietary iGaming content in Brazil on the first day of the regulated market, establishing a strong position in this emerging market. Bragg Gaming Group Inc (NASDAQ:BRAG) strengthened its executive team with experienced industry experts, supporting its growth trajectory. Despite revenue growth, the full-year 2024 gross margin decreased slightly by 40 basis points to 53%. The company faces potential regulatory challenges in the Netherlands, which could impact market dynamics and advertising strategies. Bragg Gaming Group Inc (NASDAQ:BRAG) has a negative free cash flow, partly due to significant spending on PP&E and intangibles. The company's adjusted EBITDA margin for the full year 2024 declined by 80 basis points compared to the previous year. There is uncertainty regarding the rollout of the PAM in Brazil, as the current focus is primarily on content. Q: Can you confirm if the US market was about 5% of revenue in 2024 and if the deal with Caesars will be the primary driver for growth in 2025? A: Yes, the US market was about 5% of revenue in 2024. While the deal with Caesars is significant, a major part of our growth will come from exclusive and proprietary content, such as our slot game Dragon Power Triple Gold. - Robbie Bressler, CFO Q: Regarding Brazil, you mentioned having more than 30% of licensed operators using your content. Do you expect this to increase to 50% by the end of Q2? A: Yes, we expect to reach 50% by the end of Q2. Our current focus in Brazil is on content, and we are seeing promising results from our proprietary and exclusive content rollouts. - Robbie Bressler, CFO Q: Can you provide an update on the regulatory environment in the Netherlands and its impact on the market? A: The regulatory environment is still in flux, particularly regarding sports betting advertising. Our business is primarily focused on iCasino, so any impact from sports betting advertising changes would be minimal. We expect the market to decrease slightly in 2025, but our strong market share should provide opportunities to increase it as smaller operators exit. - Robbie Bressler, CFO Q: What are your short-term and long-term targets for gross margin, given the shift to proprietary content? A: Q4 was exceptional with a 58% gross margin. While we don't expect this to be the run rate for the full year, we are moving in that direction. Our proprietary content, like Dragon Power Triple Gold, is performing well, and we anticipate reaching similar levels by Q4 2025. - Robbie Bressler, CFO Q: Can you provide an update on your pipeline and any significant opportunities you are working on? A: We have a strong pipeline across different regions, focusing on onboarding operators in Brazil and distributing content in the US. We are also exploring opportunities in Europe and the Americas. Any developments in our pipeline would be accretive to our 2025 guidance. - Matevz Mazij, CEO Q: Does your pipeline include both organic growth and M&A opportunities? A: Our pipeline is focused on organic growth opportunities. We are actively involved in processes to solidify deals and are well-positioned to capitalize on the expanding US iCasino market. M&A is not a core focus right now, but we remain open to opportunities that increase shareholder value. - Robbie Bressler, CFO Q: How should we think about seasonality for 2025? A: We expect business as usual, with Q4 typically being the strongest quarter. There are no unusual seasonal impacts anticipated beyond the regular cycle of sports and iCasino play. - Robbie Bressler, CFO Q: Are there any plans for new US states to go live in 2025? A: While not specifically baked into our pipeline, we are focused on positioning ourselves to capitalize on new opportunities as US states open up. We aim to be well-prepared with strong products and partnerships to capture market share in the expanding US iCasino market. - Robbie Bressler, CFO For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
