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Bragg Gaming Group Reports Third Quarter 2019 Results

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Enters the lucrative U.S. gaming market through recently announced partnership with Kambi Group and Seneca Gaming Corporation

Bragg Gaming Group has released its results for the third quarter ended September 30, 2019, achieving strong sequential revenue growth of 13 per cent over Q2 2019.

Third Quarter 2019 Results

In the third quarter, the Company delivered continued growth with revenue of CDN $10.0M, gross profit of CDN $4.3M, EBITDA of CDN $0.2M, and net loss from continuing operations of CDN $0.2M. These results culminated in strong performance for the first nine months of 2019 with revenue of CDN $28.0M, gross profit of CDN $12.6M, EBITDA of CDN $0.6M and net loss from continuing operations of CDN $7.6M.

Dominic Mansour, Bragg’s CEO, said: “We’ve made significant progress this quarter, with our focus on B2B with ORYX driving 30 per cent revenue growth compared to Q3 2018. This resulted in a significant improvement in ORYX’s gross profit and in-turn drove ORYX EBITDA to grow by over 300 per cent to CDN $1.2M.

“I am extremely pleased with the Company’s progression over the past quarter. We’ve proven that, with our modern technology and seamless integration process, we are able to expand our operator base at a significantly faster rate than the competition. I am particularly pleased that the strong momentum of operator launches experienced in the first half of the year continued into Q3 with the successful launch of 10 new operators. We expect this momentum to further accelerate throughout Q4 with more than 14 launches in the pipeline.”

US Market Entry

Bragg recently entered into a partnership with Kambi Group, a well-established provider of premium sports betting services with an extensive client base. Bragg will provide their casino services and unique player account management (PAM) along with Kambi’s sports betting services to operators worldwide, with an initial focus on the burgeoning US market.

This newly created partnership recently signed a deal with New York’s Seneca Gaming Corporation (SGC), which operates all of the Seneca Nation’s Class III gaming operations in western New York. The Bragg and Kambi teams will collaborate to provide SGC with a combination of their services and products across SGC’s three New York casinos.

“Our partnership with Kambi and the initial deal with Seneca are both huge stepping stones for Bragg as we commence operations in the U.S. and continue to expand our global reach,” noted Mansour.  “Our strategic focus in the U.S. is to partner with tier-1 casinos and operators. I believe that this Seneca deal will be the first of many in the coming years, particularly as the legal landscape continues to mature.”

Strategic Review of Online Media Division

The strategic review of the online media divisions consisting of the GiveMeSport asset has continued through the second half of 2019, and the Board expects this to be completed in Q1 2020.

In the interim, Bragg continues to enhance the GMS platform in order to drive more volume. The relaunch of the GMS website was completed in July, and the site is now quicker, slicker, more intuitive, and has a lighter ad load. These improvements culminated in peak site traffic in October 2019, which were 46 per cent greater than October 2018, growing from 15.9M visitors to 23.3M organic visitors.

Directorate Changes

Bragg’s CFO, Akshay Kumar, has announced his intent to step down as Chief Financial Officer of the Company for personal reasons. Effective November 13, 2019, Steven Prowse will assume the role of Chief Financial Officer. Mr. Kumar will assist Mr. Prowse, ensuring a seamless transition.

Prowse is an industry veteran with over 10 years’ experience in the betting and gaming sector. He served as Group Finance Director for PartyGaming plc (later bwin.party), a gaming business listed on the London Stock Exchange, and was instrumental in M&A, including the acquisition of Foxy Bingo and the €2.1bn merger with bwin in 2011 where he continued as Group Finance Director.

Dominic Mansour said: “I would like to thank Akshay for his hard work and contributions to Bragg. Our team wishes him all the best for the future. We also look forward to welcoming Steven to the Bragg team and believe his expertise with M&A in the sector will be extremely valuable during this pivotal time for the Company.”

Steven Prowse said: “I am delighted to join Bragg at such an early and exciting point in its growth trajectory.  Bragg has market-leading technology, products and people.  As such, I see enormous potential for this business and am very much looking forward to being a part of that growth.”

 

 


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 Third Quarter 2019 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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Experience Classic Slot Thrills this Christmas With BGaming’s Totally Hot

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Wrap up warm this festive season with some retro-inspired slot action

Popular iGaming content provider BGaming invites you to cosy up to the fire and hit spin with the release of Totally Hot. This dynamic new title combines classic slot elements with modern gameplay mechanics.

Taking into account its December launch, BGaming dressed up the game for the season: the action is brought to life with bold visuals and festive animations, with roaring hot flames filling the background and Christmas candy canes bordering the reels. Totally Hot will revert to its original version when the holiday season is over.

It is not only the game’s visuals that have been given a modern makeover. Totally Hot deploys a pay-both-ways payment mechanic across its 5×3 game grid, giving players the chance to win with matching combinations in both directions across the reels. Wins go from left-to-right, right-to-left, and even begin in the middle of the reels.

There is also the potential for a festive treat to drop in the middle of the grid in the form of an Expanding Wild, holding players’ attention with the action on every spin.

Totally Hot keeps the good times rolling thanks to a low-volatility maths model that entertains players with frequent wins. This is complemented by an extremely attractive RTP of 97.21%.

Vasili Pauliuchenko, Game Producer at BGaming, said, “The holidays are here, and we wanted to provide our players with the bright and warm gift of nostalgia this Christmas. Totally Hot has been designed to captivate new players and seasoned classic slot lovers alike, keeping them engaged with wins coming from literally every direction.

The game’s blazing vibes and low volatility serve up plenty of laid-back fun.”

The post Experience Classic Slot Thrills this Christmas With BGaming’s Totally Hot appeared first on European Gaming Industry News.

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Evoplay expands Hold & Win portfolio with Young Eagle Song

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Evoplay, the award-winning game development studio, has launched Young Eagle Song, a dynamic new Hold & Win title set above the snow-capped mountains of North America.

The game follows the eagle as it soars through storm clouds, with each spin offering the chance to discover the treasures hidden in the sky. Landing six or more bonus icons instantly triggers the Hold & Win round, where gold coins lock onto the reels and players get closer to the Mini, Major, or Grand jackpots.

Young Eagle Song offers a classic Hold & Win experience with a sharp, focused rhythm. The feature starts with three spins, resetting to three each time another coin lands. Each Bonus icon reveals a prize value ranging from 1x to 15x the stake, or one of the game’s fixed jackpots. Collecting all 15 positions wins the Grand Jackpot worth 1,000x, reaching its climax.

Players seeking direct access can utilise the bonus buy option, worth 32x the total bet, which instantly activates the feature with six coins already secured on the reels.

Ivan Kravchuk, CEO at Evoplay, said: Young Eagle Song captures the raw force of nature in a simple yet powerful format.

“We wanted to offer a clean, engaging Hold & Win experience with clear progression and strong win potential, brought to life through striking visuals and a bold atmosphere.”

The post Evoplay expands Hold & Win portfolio with Young Eagle Song appeared first on European Gaming Industry News.

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3 Oaks Gaming set to broaden its global presence following Relax Gaming aggregation deal

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New collaboration sees 3 Oaks Gaming’s premium slot portfolio made available via Relax Gaming’s award-winning aggregation platform

3 Oaks Gaming, an established creator of iGaming content, has extended its footprint across key regulated markets through a new deal with Relax Gaming, one of the industry’s leading iGaming aggregators and providers of unique content.

Through the collaboration, 3 Oaks Gaming’s acclaimed portfolio of slot games, including player favourites such as Sun of Egypt 5, Super Hot Teapots and Lucky Penny 2, will be integrated into Relax Gaming’s extensive distribution platform, enabling operators across Relax’s global network to access a broad range of premium 3 Oaks titles.

The deal marks an important step in 3 Oaks Gaming’s strategy as it continues to strengthen its international presence, ensuring it can meet the growing demand for premium, feature-rich content across regulated markets.

Known for its innovation and commitment to quality, 3 Oaks Gaming’s dynamic portfolio aligns seamlessly with Relax Gaming’s focus on delivering best-in-class content to operators worldwide.

Krasimir Pankovski, Head of Sales at 3 Oaks Gaming, said: “Partnering with Relax Gaming represents a key milestone for 3 Oaks Gaming as we continue to expand our global footprint.

“Integrating our portfolio into Relax’s aggregation platform allows us to reach new audiences and deliver our high-quality games to a wider range of operators across regulated markets.”

Jennifer Buttigieg, Head of Commercial & Partnerships – Aggregation at Relax Gaming, added: “We are proud to partner with 3 Oaks Gaming and offer their impressive portfolio to our operator network. Interest for their content has been off the charts.

“Their reputation for delivering feature rich, player-driven content makes them a strong addition to our growing library, and we are confident their content will support operators in driving player engagement.”

The post 3 Oaks Gaming set to broaden its global presence following Relax Gaming aggregation deal appeared first on European Gaming Industry News.

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