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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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HIGHLIGHT GAMES LIVE IN ROMANIA WITH FORTUNA ENTERTAINMENT GROUP

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London-based video virtuals and instant win games specialist Highlight Games Limited today announces that its flagship soccer products are now live online in Romania with the Fortuna Entertainment Group.

Highlight’s premium SOCCERBET games which feature genuine archive footage from some of the biggest leagues and teams in football are now available to Fortuna’s online customers in Romania via its Casa Pariurilor and Fortuna Romania brands. Available iterations of the product include Italian Football featuring Serie A, Spanish Football featuring LaLiga and English Football featuring English Premier League teams.

Steven Holmes, CEO, Highlight Games said: ‘I’m delighted to see our SOCCERBET portfolio go live with FEG in Romania. This launch represents another significant milestone in our expansion across regulated European markets, and we look forward to building on our partnership with Fortuna and bringing even more compelling content to its customers in the months ahead.’

Erik Klems, Group RNG Product Manager, Fortuna Entertainment Group added: ‘We are excited to introduce Highlight Games’ SOCCERBET products to our Romanian customers. The combination of authentic archive football footage and innovative gameplay brings something genuinely fresh to the market and perfectly complements our existing portfolio. At FEG, we are committed to offering players the best and most engaging experiences available, and this partnership with Highlight Games supports that mission. We anticipate a strong reaction from players and see great potential for continued collaboration.’

 

The post HIGHLIGHT GAMES LIVE IN ROMANIA WITH FORTUNA ENTERTAINMENT GROUP appeared first on European Gaming Industry News.

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Finland Finalises Gambling Reform Framework: Market Opening Set for 2027

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Finland is preparing to usher in a new era for its gambling industry, with a comprehensive reform that transitions the country from a state monopoly to a regulated, licensed market. According to updates received by Nordic Legal, the Administrative Committee of the Finnish Parliament has completed its report, confirming the core elements of the reform. While the legislation has yet to be formally published, it is expected to pass without further amendments.

This reform marks a significant shift in Finland’s gambling landscape and introduces a well-defined roadmap that operators and suppliers should begin preparing for now.

Key Milestones in Finland’s Gambling Market Reform

  • B2C licence application opens: March 1, 2026

  • Opening of the gambling market: July 1, 2027

  • B2B licence application opens: July 1, 2027

  • B2B licence requirement enforced: July 1, 2028

In addition to these regulatory changes, the Finnish government is reportedly exploring mechanisms for enhanced player protection. One such initiative under consideration is the introduction of loss limits that would apply across all licensed operators, signalling a strong commitment to responsible gambling.

Nordic Legal: Your Strategic Partner for Finnish Market Entry

With deep expertise in the Nordic gambling sector, Nordic Legal is uniquely positioned to assist operators navigating the Finnish licensing process. Drawing on experience in Denmark and Sweden, the firm brings regulatory insight, a streamlined methodology, and local expertise to ensure clients are well-prepared for this market transformation.

Why Choose Nordic Legal?

1. Familiarity with Your Business
For existing clients operating in Denmark or Sweden, Nordic Legal leverages its existing understanding of your organisation and technical infrastructure. This continuity accelerates the process and avoids duplication of effort.

2. Regulatory Expertise
Years of engagement with Danish and Swedish regulators allow Nordic Legal to anticipate regulatory expectations, resolve potential issues early, and smooth out the application journey.

3. Proven Nordic Methodology
Nordic Legal applies a tested framework to each licence application, including:

  • Reusing existing documentation where possible

  • Mapping technical and certification requirements in advance

  • Aligning responsible gambling strategies with Finnish standards

  • Co-managing projects through your current contact and our Helsinki team

  • Constructive engagement with regulatory authorities when needed

Finland Licence Application Package

To support a seamless entry into the Finnish market, Nordic Legal offers a comprehensive application service that includes:

  • Translation of all required documents

  • Step-by-step application guidance

  • Completion of application forms

  • Full project management

  • Direct communication with the Finnish Gambling Authority on your behalf

Operators aiming to enter the Finnish market are encouraged to begin preparations early. Nordic Legal’s package ensures that you will be ready when the application process opens in 2026.

Thinking of Entering the Finnish Market?

Whether Finland is part of your expansion strategy or you need a clearer understanding of how the new legislation affects your operations, Nordic Legal is ready to help. With expert knowledge of the requirements, the process, and the business context, we provide the guidance and support you need to move forward confidently.

For more information about our Licence Application Package or a personalised assessment of the Finnish market, please contact Nordic Legal directly.

The post Finland Finalises Gambling Reform Framework: Market Opening Set for 2027 appeared first on European Gaming Industry News.

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NuxGame & Gamblers Connect Enter a New Partnership

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Gamblers Connect is pleased to announce a new strategic partnership with NuxGame, a premier B2B software provider specialising in API-first, modular iGaming solutions.

This collaboration is designed to significantly enhance NuxGame’s brand visibility and solidify its authority across the critical regulated and emerging markets our operator network serves. NuxGame, which has been successfully developing and expanding operator projects since 2018, offers comprehensive Turnkey Casino and Sportsbook Platforms.

The company’s technical strength is unmatched, featuring a massive aggregated content library of over 16,500 games from more than 130 studios, alongside advanced, market-specific tools like its Telegram Casino Software and specialised Sweepstakes Casino Platform.

Gamblers Connect will showcase how NuxGame’s modular, API-first architecture allows clients to quickly launch a fully branded platform, easily scale into complex verticals like crypto, and benefit from full compliance support, including their Romanian Class II B2B Licence and GLI-19 Certification.

By offering transparency around risk management and a comprehensive support system, Gamblers Connect will de-risk the initial onboarding process for operators.

This strategic alliance underscores NuxGame’s commitment to delivering technical excellence and our dedication to providing our audience with trusted, high-value industry partners.

Gjorgje Ristikj, Founder of Gamblers Connect, said: “Our partnership will leverage Gamblers Connect’s high-authority platform to connect NuxGame directly with decision-makers seeking fast, scalable, and compliant software solutions. Our cooperation will focus on delivering expert content and deep technical insights into the platform’s core advantages.”

The post NuxGame & Gamblers Connect Enter a New Partnership appeared first on European Gaming Industry News.

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