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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
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THE STAGE IS SET AS FINAL TEAMS ARE CONFIRMED FOR THE PUBG MOBILE GLOBAL CHAMPIONSHIP GRAND FINALS
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- The 2025 PUBG MOBILE Global Championship (PMGC) ignites as final two teams qualify for the Grand Finals
- Alter Ego Ares and Team Flash clawed their way through the pressure-packed Last Chance stage, claiming their well-deserved spots in the Grand Finals, as more than 1.2M fans around the world witnessed this nailbiting weekend
- 16 elite teams are now advancing to the main stage in Bangkok to battle for the lion’s share of the $3,000,000 prize pool
- In celebration of PUBG MOBILE and Balenciaga’s continued the Balenciaga I PUBG collaboration, the 2025 PMGC Grand Champions will take home the custom designed BALENCIAGA l PMGC l PGC 2025 Champion Jacket
- Building on a successful collaboration campaign with PUBG MOBILE, Porsche will invigorate the 2025 PMGC stage with the prize of a Porsche Cayenne to the MVP player of the 2025 PMGC Grand Final
After weeks of intense battles and a decisive Last Chance qualifier, the stage is set and the final teams are locked in for the 2025 PUBG MOBILE Global Championship (PMGC) Grand Finals. This past weekend marked the conclusion of the 2025 PMGC Last Chance stage, where 16 teams fought tooth-and-nail to be a finalist in this year’s culminating PUBG MOBILE Esports tournament. Highlighting the significance of this stage ahead of the main event, the Last Chance weekend saw more than 1.2M fans witness the action across the globe. With the dust now settled, the final two teams have secured their slots in the Grand Finals, where they’ll compete for their share of the massive $3,000,000 prize pool.
The Last Chance took center stage from December 6th -7th, as teams battled fiercely for their final opportunities to reach the Grand Finals. Day one saw Alter Ego Ares making an early statement, while Influence Rage and Loops Esports climbed the leaderboard with strong performances. On day two, the intensity ramped up as Weibo Gaming pulled off crucial late-game plays to surge up the leaderboard, while Team Flash stayed consistent, surviving each round to stay in the running. In the end it was Alter Ego Ares and Team Flash who had secured their spots in the Grand Finals, closing out the Last Chance stage and setting the stage for the ultimate showdown of the year.
Final teams qualified for the Grand Finals:
- Alter Ego Ares
- Team Flash
- DRX
- Regnum Carya
- EArena
- R8 Esports
- ThunderTalk Gaming
- Kara Esports
- MadBulls
- Alpha7 Esports
- ULF Esports
- D’Xavier
- Alpha Gaming
- DPlus KIA
- Team GOAT
- Vampire Esports
The 2025 PMGC Grand Finals roster brings together seven powerhouses from the Gauntlet Stage, six elite qualifiers from the Group Stage, the two Last Chance survivors, and Vampire Esports as the Host Country Invitee. With all finalists confirmed, the spotlight shifts fully to Bangkok, where the Grand Finals will erupt inside Siam Paragon from December 12th – 14th. As the defining event of the competitive calendar, the 2025 PMGC not only brings together the world’s strongest PUBG MOBILE Esports teams, but also marks a new era for the scene as it joins forces with the 2025 PUBG Global Championship (PGC), as PUBG UNITED 2025. Across three action-packed days, the world’s best squads will battle through six matches per day, as they chase fame and glory.
All signs point to an electrifying Grand Finals, with a roster stacked full of top-tier contenders. Alpha Gaming are poised as a team to watch after ripping through Group Green in the Group Stage with unwavering consistency, while R8 Esports made their intentions known early by dominating the opening Gauntlet Stage. Last year’s reigning champions Dplus KIA bring the heat to this year’s Grand Finals line-up, and with the remaining teams hungry to disrupt the established order, this year’s 2025 PMGC Grand Finals are set to make history.
Set to make this PMGC the grandest Grand Finals yet, and in continuing the city-wide celebrations, PUBG MOBILE partners Balenciaga and Porsche will each be represented through prizes awarded to the Champion team. Balenciaga has designed an exclusive jacket for each player of the 2025 PMGC Champion team, as a symbol of the talent and effort they have displayed. For the MVP player of the 2025 PMGC Grand Finals, they will be awarded with a brand new luxury Porsche Cayenne, the perfect prize for the player who shines the brightest in their performance.
Fans can tune in to watch the 2025 PMGC Grand Finals on PUBG MOBILE Esports’ YouTube, Facebook and Twitch channels, between December 12th – December 14th. For more PUBG MOBILE Esports news, stay tuned on Facebook, Instagram, Twitter, Youtube, and TikTok.
The post THE STAGE IS SET AS FINAL TEAMS ARE CONFIRMED FOR THE PUBG MOBILE GLOBAL CHAMPIONSHIP GRAND FINALS appeared first on European Gaming Industry News.
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Million Games Launches Goblin Brew – A Wild Night of Free Spins and Fortune
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Million Games has announced the release of Goblin Brew, a mischievous 5×5 fantasy slot developed by Yugo Workshop through the Million Stars partner programme.
Set in a dimly lit goblin tavern, Goblin Brew combines light-hearted fantasy with rewarding gameplay, offering Free Spins, Expanding Wilds, and a unique progression system that keeps every round unpredictable.
Landing 3 or more Beer Scatters triggers the Goblin Gold Spins, where silver coins grant extra spins and gold coins increase the global multiplier. As players collect more coins, low-paying symbols are removed, paving the way for higher wins and an electric build-up toward the maximum payout of 5,000x the bet.
“Goblin Brew has all the ingredients for a fun, rewarding slot,” said Thomas Nimstad, CEO of Million Games. “It’s visually rich, mechanically engaging, and delivers a player experience that balances excitement with accessibility. Yugo Workshop has done a fantastic job of capturing that perfect mix.”
With a 96.11% RTP and medium volatility, Goblin Brew offers approachable yet high-value gameplay that fits perfectly into modern casino portfolios.
Goblin Brew is now available to all Million Games partners and integrated operators worldwide.
The post Million Games Launches Goblin Brew – A Wild Night of Free Spins and Fortune appeared first on European Gaming Industry News.
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A large-scale $1 billion online casino shady scheme involving Ukrainian fraudsters Vadim Gordievsky and Alyona Suvorova has been discovered in Kazakhstan.
The Kazakhstan Financial Monitoring Agency has revealed a large-scale shady scheme with a whole layer of cross-border transfers. While referring to the press service of the Agency, Elordainfo.kz informs that numerous bank employees and 120 people from several countries were involved in the operation of the shady scheme.
The money was sent to various payment organizations, disguised as legal transactions, and was later withdrawn to numerous online casinos.
At the same time, local authorities managed to eliminate the call center, which employed foreigners, which provided technical support for four online casinos as well as advice on money transactions. In addition, the organizers of the call center created a gambling partnership program that was used to accept payments and withdraw them in cryptocurrencies. The overall turnover exceeded 200 million USDT.
During the implementation of all these measures, over 70 searches were conducted. As a result of these activities, local authorities managed to gather physical evidence as well as to detain nine suspects.
According to law enforcement authorities in Kazakhstan, the key organizer of the shady miscoding scheme is Ukrainian Vadim Ivanovich Gordievsky, born in 1974. He led this organized crime group and used the local Marginplus company for these purposes (marginplus.kz). In addition to companies from Kazakhstan, Gordievsky also worked with illegal Russian online casinos while helping them to facilitate payments.
Already in 2008, Vadim Gordievsky served as deputy head of the Boryspil Regional State Administration and was in charge of land issues. Under Gordievsky, various lands of Boryspil were sold while the money was stolen. In the same 2008, he was dismissed from his position with a huge scandal, but his case never resulted in criminal proceedings. A lot of money and connections in government offices helped him avoid accountability.
In 2012, when Viktor Yanukovych came to power, Vadim Gordievsky took the chair of the head of the highway service in the Odessa region, where he managed to get access to millions of dollars, which he later invested in FC Alta Capital.
After the initiation of criminal cases for financial crimes, fraud, and the announcement of his wanted list by the Ministry of Internal Affairs, Vadim Gordievsky left Ukraine on forged documents.
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According to investigators, Gordievsky’s partner, Mikhail Kovalev (Mykhaylo Kovalov), who has a number of companies in the EU, in particular, in Poland and a residence permit in Spain, was closely working with Gordievsky. By using numerous fictitious companies in Poland, in particular, STABLEX SOLUTION Sp. z o. o (solvexs.pl) he engaged in illegal payments and cash withdrawal in cryptocurrencies.
His partner, who is also his former Kyivstar employee, Alyona (Olena) Suvorova (born in 1983), who left Ukraine for Moscow after February 2022, and Ukrainian IT specialist Denis Andreevich Rykov (born in 1990), who currently lives in St. Petersburg, also participated in the shady scheme of illegal bookmakers and dubious payments.
Judging by her social media accounts, Alyona Suvorova is currently positioning herself “as an entrepreneur, investor, and crypto trader with 5+ years of experience.” According to Suvorova herself, she has been developing payment technologies in the field of FinTech for 10 years. In 2021, she opened her own business for international crypto transfers. In addition, she is the founder of the Lemoncoin Crypto Academy.
The law enforcement agencies of Kazakhstan are asking for information about the location and data of all these people. In the near future, Vadim Gordievsky, Alyona Suvorova, and other defendants will be put on the international wanted list. According to local laws, they face up to nine years in prison.
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