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Bragg Gaming Group Reports First Quarter Results

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Achieves positive EBITDA for the first time in company history as revenue soars by 203 per cent

 

Bragg Gaming Group has reported that its revenue more than tripled in its first full Q1 results.

Bragg has set a strong pace for the first quarter of 2019, achieving CDN $10.4M in revenue, the top of the expected range, and an increase of 203 per cent over the comparable period last year.

Gross profit increased by 181 per cent year-on-year to CDN $5.2M compared to CDN $1.8M in Q1 2018.

Overall, Bragg reported an EBITDA of CDN $63k and a net loss of CDN $1.9M, including a stock-based compensation charge of CDN $1.1M and depreciation and amortisation of CDN $0.8M.

Dominic Mansour, CEO of Bragg, said: “We’re very pleased with our results. It’s our first full quarter, and we’ve been focused on building a solid foundation for future growth. We delivered on our initial goals, including closing a number of divisions within the old Breaking Data organisation and completing a substantial restructure of the GiveMeSport (GMS) business.

“We aggressively cost-managed GMS and pivoted the direction of the sports media site. Bragg was also able to break even at the EBITDA level by quarter-end, the first time in the company’s history and sooner than we expected.”

ORYX Gaming, Bragg’s flagship property, was a key contributor to the strong Q1 results, achieving CDN $9.2M in revenue during the quarter.

Mansour added: “ORYX had an exceptional Q1. Revenue is up 83 per cent over the same period in 2018, and we secured a number of key clients, signing 22 agreements over the quarter.

“We were also successful in our goal of diversifying our customer base. 49 per cent of ORYX’s revenue now comes from our top five customers; a very positive trend when compared to the first quarter of 2018, when over 75 per cent of revenue came from just two customers.”

GiveMeSport, Bragg’s sport media outlet, is also performing ahead of internal expectations. Following the first quarter restructure, the business is already seeing positive results in both its cost structure and key performance metrics. The number of unique Facebook users reached was 65.7M in Q1 with significant growth into Q2, while Facebook video views increased by 52 per cent year-to-date. The site also saw a 123 per cent jump in Facebook video interactions. The GiveMeSport business is currently planning a significant re-launch in the third quarter (August 2019) of the year.

Bragg also made notable changes in its board of directors in the first quarter, adding gaming industry veteran Jim Ryan, M&A expert Paul Pathak and Bragg CFO Akshay Kumar to the board. The company also changed its reporting currency to Canadian dollars and moved its fiscal year to calendar year.

Bragg recently announced it has appointed award-winning journalist Benny Bonsu to lead GiveMeSport’s new women’s sport division.

She will be tasked with building GiveMeSport Women, a global editorial brand dedicated to coverage of women’s sport.

Bonsu has held prior roles at the London 2012 Olympics, the National Basketball Association (NBA), BBC World Service, Sky Sports, MTG Africa, BT Sport and Matchroom Sport.

Bragg’s Annual General Meeting (AGM) will take place on June 27, 2019.


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Bragg Gaming Group Reports First Quarter Results

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Pre-Submission Check-Up: Is Your Project Ready for an Investment Fund?

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Securing investment is a crucial step in the growth of any business, but before submitting an application, it is essential to critically assess its readiness. Does the team have the necessary expertise? Is the product in demand in the market? Is there a well-thought-out development strategy and financial model?

Founders often become so engrossed in their ideas that they overlook critical aspects that are key for investors. Investors evaluate not just the concept but also the actual viability of the business—market demand, team professionalism, financial stability, and scalability potential.

One of the funds that support promising companies, teams, startups, and technologies and help them grow is PIN-UP.INVESTMENTS. The fund follows a meticulous selection process, investing in verified projects that are prepared for sustainable development. COO Ihor Denysov has outlined the key criteria that define an ideal candidate for investment, emphasizing strategic business development and scalability potential. These criteria serve as guiding principles rather than strict requirements, helping projects better align with the fund’s vision.

1. Strategic Investment Focus Areas

To attract investment, the product of potential investee must align with the verticals that match current investor focus areas. Essential alignment niches include:

  • MarTech Solutions — traffic solutions, advertising agencies, and marketing tools, including arbitrage teams, media platforms, telegram channels, advertising networks, influencer marketing, and AI-driven technologies. Tier 1 and Tier 2 are of interest.
  • iGaming Innovations — casino game studios and comprehensive iGaming solutions, particularly slots, instant games, and infrastructure solutions for online gaming operators.
  • Fintech Advancements — digital banking services, cryptocurrency projects, and innovative payment systems.
  • AI/ML Applications — advanced artificial intelligence technologies enhancing user engagement, retention, and innovative solutions across various domains.
  • Analytics Platforms — operational solutions optimising user acquisition, retention strategies, marketing performance, and overall business processes. Projects falling outside these strategic domains may not align with our current investment thesis regardless of their individual merit.

2. Product with Proven Market Demand

To secure investment, businesses, companies, technology projects, and teams must have more than just an idea; they need a real, market-validated product. Minimum requirements include:

  • MVP+ (Minimum Viable Product Plus) — a product with basic functionality and initial users.
  • Market demand validation — stable customer base growth, user behavior analytics, early sales, market research, alignment with the key market trends.
  • A clear business model — understanding how the initiative will generate revenue.

If the product has not yet demonstrated market demand, it is crucial to focus on testing hypotheses before seeking investment.

3. Innovative Features for Market Advantage

Product differentiation is a crucial element for market success. It is essential to have:

  • Unique solution to an existing problem that addresses the pain points in ways competitors don’t.
  • Clear superiority backed by data, user testing, experience.
  • Technologies that are hard to replicate—ideally patent-protected—can help maintain a competitive edge in the market. While not a strict requirement, having such innovations significantly strengthens a project’s investment appeal.

Products lacking distinctive features significantly reduce their chances of gaining market traction and investment.

4. A Strong Team with Industry Experience

The team is a critical factor in determining a project’s success. It is essential to have:

  • An experienced CEO and competent core team (devOps, marketers, technical specialists, financial experts) who understand their field.
  • Clearly defined roles and efficient internal processes.
  • Previous experience in launching or developing similar projects.

Teams lacking the necessary expertise significantly reduce their chances of securing investment.

5. Transparent Financial Model and Growth Forecast

It is essential that the potential investees have:

  • A well-structured financial model — revenue streams, cost structure, and expected profitability.
  • Key customer acquisition metrics (CAC, LTV, ROI) that demonstrate marketing strategy effectiveness would be considered as the plus.
  • A profitability forecast — outlining when and under what conditions the project will become self-sustaining.

Projects that cannot justify financial viability typically do not pass the selection process.

6. Readiness for Scaling

It is crucial to demonstrate:

  • Growth potential — the ability to expand into international markets or scale within the current niche.
  • Adaptable business model — ability to pivot or modify offerings based on changing market conditions and feedback.
  • A well-planned customer acquisition strategy — including performance marketing, SEO, and partnership programs.

Projects without a clear scaling strategy are not considered investment-attractive.

Conclusion

Meeting these criteria significantly increases the chances of securing investment. PIN-UP.INVESTMENTS considers only verified, promising projects that are ready for growth. When submitting an application, businesses must be prepared to demonstrate not just anticipated but also concrete results that confirm their sustainability and competitiveness.

The post Pre-Submission Check-Up: Is Your Project Ready for an Investment Fund? appeared first on European Gaming Industry News.

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Skyesports Named Best Esports Tournament Organizer of the Year & Best Esports Tournament of 2024 for BMPS at GEM Awards

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Skyesports, India’s leading esports and gaming community and IP builder, has been recognized for its exceptional contributions in 2024 at the GEM Awards 2024. The company was honored with the Best Esports Tournament Organizer Of the Year, while the BGMI Pro Series (BMPS) 2024, organized by Skyesports, was rewarded with the Best Esports Tournament Of 2024. 

Skyesports is India’s most diverse esports tournament organizer, and in 2024 alone, it organized 50+ tournaments across 12 game titles, for both grassroots-level players, top creators, and professional players. Through these competitions, the Chennai-headquartered esports company rewarded prize pools of more than INR 10 Crore, showcasing its commitment to India’s esports industry.

The BGMI Pro Series (BMPS) 2024, an official Krafton India event, organized by Skyesports, and its grand finals was held in Kochi, India from Sept. 27 to 29 as 16 teams battled it out for the ultimate 2 Crore Prize Pool. This time, with storylines such as the resurgence of Jonathan Gaming-led GodLike Esports, alongside ScoutOP’s Team XSpark looking to create history with back-to-back official victories, delivered top-notch entertainment to fans. The tournament achieved a peak viewership of nearly 500,000, per Esports Charts, becoming the most-watched BGMI esports tournament in history with only competitive players.

Commenting on the recognition, Shiva Nandy, Founder and CEO of Skyesports said, “We are honored to be recognized for our commitments to the Indian esports industry. Our vision at Skyesports has always been to elevate talent while supporting the entire industry through diverse brand collaborations, tournaments across multiple game titles, and the best entertainment value to esports viewers through exceptional features such as augmented reality-based integrations. This is something we will continue doing in 2025 through our IPs like the Skyesports Championship, the Skyesports Masters, and many more.”

With these achievements, Skyesports continues to push the boundaries of competitive gaming, fostering grassroots esports and expanding its global footprint. Currently, the company is organizing the Skyesports Pro League and THE FINALS League 2.0, bringing esports across PC and mobile games.

The post Skyesports Named Best Esports Tournament Organizer of the Year & Best Esports Tournament of 2024 for BMPS at GEM Awards appeared first on European Gaming Industry News.

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Zimpler partners with Swish to unlock direct participation – transforming access to Swish payments for highly regulated industries

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Swish is opening up to PSPs for the first time – eliminating the need for businesses to partner with a bank to get access. Zimpler is breaking new ground as the first PSP to integrate directly with Getswish, the company behind Sweden’s most widely used instant payment method.

This change removes one of the biggest onboarding barriers for businesses in highly regulated industries. Until now, merchants needed direct banking relationships to access Swish – an often costly, time-consuming, and restrictive process. Through Zimpler’s direct participation, businesses can now integrate Swish faster, at a lower cost, and with greater stability.

“This is a game-changer for the Swedish payments landscape,” says Johan Strand, CEO of Zimpler. “Many businesses in regulated sectors have faced challenges accessing payment solutions due to complex banking requirements. By offering a direct route, we’re giving merchants a faster, more efficient way to access one of Sweden’s most trusted payment methods.”

Beyond direct merchant access, this could open up the possibility for Zimpler to act as a Swish provider for other PSPs, making the solution even more widely available.

Urban Höglund, CEO of Getswish, adds: “Swish has always been about speed, security, and ease of use. With this partnership we make it possible for more companies to accept Swish payments.”

With the rise of account-to-account (A2A) payments and increasing pressure for frictionless payment solutions, this collaboration signals a major shift in Sweden’s financial ecosystem.

The post Zimpler partners with Swish to unlock direct participation – transforming access to Swish payments for highly regulated industries appeared first on European Gaming Industry News.

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