Connect with us
NSoft

Latest News

Bragg Gaming Group Reports Third Quarter 2019 Results

Published

on

bragg-GG Bragg Gaming Group Reports Third Quarter 2019 ResultsReading Time: 3 minutes

 

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.

Latest News

Interview with the CasinoAward.net team: creators of the ‘Bet on 0GREEN’ initiative

Published

on

betonogreen Interview with the CasinoAward.net team: creators of the ‘Bet on 0GREEN’ initiativeReading Time: 4 minutes

 

Climate change is a very real issue right now. While mainstream media tends to focus on world governments and country leaders, there are also many others taking actionable steps to assist in this looming crisis.

CasinoAward.net, an online portal dedicated to providing news and information related to the world of gaming and virtual casinos, is one such example of a small company trying to make a big impact.

This recent interview with the founders of CasinoAward talks about their ‘Bet on 0GREEN’ initiative. The purpose of this project is to challenge individuals, associates and organizations within the iGaming industry to go GREEN. If you’d like more information on this project, please visit the official page of the iGaming renewable energy challenge.

Transcript of the interview:

To begin, can you explain what the Bet on 0GREEN initiative is?

Ultimately, it’s a challenge to others who are connected to the iGaming sector to join us and take action concerning global CO2 emissions. Our goal is to move towards an industry that doesn’t have a carbon footprint. Some may say that it is too ambitious, but you have to think big, right? The iGaming industry is, of course, reliant on energy consumption, electronics, and other digital technologies. There are many areas where we can make a difference. CasinoAward has put down the first bet – a $40 donation to the Global Footprint Network, and so the challenge is out there for other parties to raise it.

What ways can this challenge be accepted?

Our idea was to leave it open for the individual or company to decide. The point is to do something; to take action in the fight against rising emissions and climate change. We all agree that something is better than nothing.

The easiest way is to make a donation to an organization that is actively promoting and supporting the usage of renewable, zero-carbon energy sources. iGaming is a multi-billion dollar business. Surely casino operators, owners of poker and bingo rooms, software creators and platform developers have the economic power to accept the Bet on 0GREEN challenge and make an investment.

Even the smallest steps are part of a journey. Reduction in disposable plastic from offices, using digital documents instead of paper or a few solar panels on the roof to save on electric. Collectively, all of these little actions amount to something big.

It’s somewhat off-topic for a website like yours; can you tell us how the idea came about?

Certainly, at first glance, you may wonder why a site that is focussed on online gambling and casinos is championing this cause. The reality is, in our opinion, that all forms of the industry have a duty, and should be committed to reducing their carbon footprints and looking to improve the environment.

Many people, including hundreds of top scientists, claim our planet is in crisis and we are rapidly approaching a tipping point from which the effects of global warming may well be irreversible. We, as the human race, are responsible for this. As the saying goes, ‘You broke it, you fix it!’ Sure, we are part of the online gaming community, which is why we are promoting this project to our peers.

All the staff working on our website are sensitive to environmental issues, so when one of our web developers proposed the idea, it was immediately met with approval.

Out of curiosity, how was the name Bet on 0GREEN chosen?

Our team was having a discussion about the project and everyone was bringing their ideas to the table in regards to what we should call it. Essentially, the name came from a combination of these ideas, which is very apt because that is what the initiative is about – us all working together to solve a problem.

Bet on 0GREEN is an acronym for ‘Bet on Online Gambling with REnewable ENergy. The ‘zero’ serves as an ‘O’ in the full title. Both the ‘zero’ and ‘green’ have a double meaning. Zero green is a classic roulette bet, so this is a representation of the industry we’re involved in. Naturally, both of these words are very relevant in regards to environmental and climate issues, too. Zero impact on our planet, zero CO2 emissions, green energy and so on. That’s why we think it’s the perfect title for the project.

Has CasinoAward taken any action in this initiative, or did you simply propose the idea?

Our motto is to lead by example. How can we expect others to change if we are unprepared to do so ourselves? For now, we have taken two very specific actions to highlight our intent.

The first was to choose a hosting service for our portal that uses renewable energy to power its servers, and as previously mentioned we have begun making financial donations to projects such as the Global Footprint Network.

Has anyone in the industry risen to your challenge yet?

In terms of requests for participation and upping our challenge bet, we haven’t had anyone come forward as of yet. But, we’ve received a lot of positive exposure from high-profile industry news portals, so we are confident that things will start to move soon and the ante on our initial bet will be raised.

The initiative is based on donating to sustainable energy, zero-emissions projects, but are you collecting funds?

Absolutely not. Those who are interested in joining us are free to make their own donations to projects of their choosing. From there, they can contact us via the official Bet on 0GREEN page on our website and let us know what they’ve done. We can then update our list and publicly thank them for their support.

Does this project have a duration or a deadline?

For us, running this initiative, there is no deadline. We will keep pushing it for as long as it takes. However, the real deadline is the climate, and the world we live in. Action needs to be taken as soon as possible. We cannot ignore this crisis which is on our doorstep any longer.

Are you open to collaboration proposals to increase the effectiveness of this cause you’re supporting?

Yes, most definitely. We know that we cannot do this alone, which is the whole point of issuing the challenge and raising awareness. We welcome all ideas, so please contact us and let’s talk.

Furthermore, by allowing us this opportunity to sit down and do this interview is collaborating, so for that, we sincerely thank you. Of course, if you would like to actively participate in Bet on 0GREEN, and be the first to relaunch our wager, we would be even more grateful.

 


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: Interview with the CasinoAward.net team: creators of the ‘Bet on 0GREEN’ initiative

Continue Reading

Latest News

BetWarrior adds Neteller payments in Brazil

Published

on

nota-de-prensa-NETELLER-1500x600-2 BetWarrior adds Neteller payments in BrazilReading Time: < 1 minute

 

Online gaming fans across Brazil can now use Neteller to deposit and withdraw funds with leading mobile sports betting and casino app BetWarrior.

Neteller is trusted by millions of people every day to transfer money online and is one of the simplest ways to deposit with BetWarrior in Brazil.

BetWarrior is among the first online gaming operators to add Neteller payments in Brazil, underlining its commitment to delivering the number one mobile sports betting and casino product in the country.

Morten Tonnesen, CEO at BetWarrior, said: “We aim to offer not only the best mobile sports betting and gaming experience around but also the most convenient. This is why we have added Neteller, one of Brazil’s most trusted payment providers.

“Adding Neteller payments for our Brazilian warriors means it has never been easier to enjoy the BetWarrior app, some fantastic bonuses and the very best mobile sportsbook and casino.”

About BetWarrior

BetWarrior is a sports betting and casino operator and platform utilizing the latest in machine learning and artificial intelligence to deliver a truly personalized user experience. Founded by two former PokerStars executives, it aims to leverage innovative technology to place the customer at the center of the action.

The operator launched in 2019, with an initial focus on regulated markets in Europe and Latin America. BetWarrior is licensed by the Curacao e-Gaming Licensing Authority and is in the process of acquiring additional licenses in Europe and Latin America.

For more information, please visit https://www.track1group.com/

 


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: BetWarrior adds Neteller payments in Brazil

Continue Reading

Latest News

Gaming Innovation Group signs with Mr Green in Latvia

Published

on

4-14 Gaming Innovation Group signs with Mr Green in LatviaReading Time: 2 minutes

 

Gaming Innovation Group Inc. (GiG) has today signed a long-term agreement with SIA Mr Green Latvia (Mr Green) for the provision of its software platform licence, online casino, sportsbook and front end services for Mr Green’s brand entry into the Latvian market. Mr Green, part of William Hill plc, is one of GiG’s existing partners.

This new agreement further strengthens GiG’s presence in the Latvian market where the Company already supports the sportsbook solution of the 11.lv brand (75% owned by Mr Green). It proves the strength of GiG’s services and collaborative partnership model, supporting the growth of online gambling with new brands and markets. Mr Green will, with GiG’s services, be able to offer its end users a competitive online casino and sportsbook with a unique front end where user experience and differentiation as key.

Mr Janis Tregers, CEO Mr Green Latvia, says: “This is an exciting moment for the William Hill Group business in Latvia, where we move forward with our strategy to introduce a global brand such as Mr Green to the market. We see it as the perfect compliment to the locally well established 11.lv brand, also hosted on the GIG platform. By working closely with GIG and leveraging their technology from product, compliance and other aspects we have been able to propel 11.lv to second position among leading brands in the market. It is now time to make Mr Green a similar success.”

Richard Brown, Chief Executive Officer in GiG says: “I am pleased to announce this expansion of our collaboration and partnership with Mr Green. Latvia is an interesting market for online gambling, we are looking forward to support Mr Green’s growth with a strong, safe and entertaining product.”

The agreement is based on revenue share and is expected to go live in Q2 2020 with a limited contribution on GiG’s overall revenues in 2020, and an increase in 2021 onwards. The Latvian interactive gambling market is expected to grow by more than 35% in the next two years with a market value of approximately 125 million euros in 2022 (Source H2GC).

To learn more about the gambling industry in the Baltics, make sure to attend the MARE BALTICUM Gaming Summit which will take place on the 7th of May in Tallinn, Estonia. Read more here…


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: Gaming Innovation Group signs with Mr Green in Latvia

Continue Reading

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.