Bragg Gaming reports record Q4 results

Strong fourth-quarter results

Bragg closed 2024 with its best quarterly revenue to date. The company generated €27.2 million in Q4, up 16.3% from a year earlier. Gross profit reached €14.2 million, rising 30.9%, while adjusted EBITDA climbed to €4.7 million, up 68.1%.

CEO Matevž Mazij said:

“Revenue and Adjusted EBITDA grew sequentially for four straight quarters, culminating in record 4Q 2024 revenue of €27.2 million, up 16.3 per cent year-over-year, and Adjusted EBITDA of €4.7m rising by 68.1 per cent. Our investments in proprietary content and AI-enhanced platform capabilities are driving both revenue growth and improved profitability. As we execute our strategic plan in key markets like Brazil and the US, we’re leveraging our scalable platform and margin-accretive products to accelerate financial performance. The executive team we’ve assembled has already demonstrated their value through deals like our Caesars partnership, positioning Bragg for sustained revenue expansion and profit growth in 2025.”

Market entry and expansion milestones

In Q4, Bragg launched in its second Canadian province through a deal with Loto-Québec. It entered Brazil’s regulated iGaming market and launched content in Delaware, its fifth U.S. iGaming state.

Bragg also extended its partnership with Caesars Digital to Pennsylvania and Ontario.

These actions support the company’s strategy to grow in regulated markets and increase content reach through established operator integrations.

Brazil and US set to boost 2025 revenue

Bragg expects Brazil and North America to contribute up to 10% and 15% of total revenue, respectively, by year-end. The company plans to drive this growth through proprietary, exclusive, and aggregated content.

Brazil’s iGaming market is expected to exceed $3.3 billion by 2029, according to H2 Gambling Capital. Bragg sees strong opportunities for its content in this growing market.

In the U.S., the company’s content reaches over 90% of the iGaming market. This is made possible through deals with top operators such as DraftKings, FanDuel, Caesars, and BetMGM.

Bragg also holds licenses in all major U.S. iGaming states.

Chief Commercial Officer Neill Whyte and SVP Garrick Morris lead the company’s North American efforts. Both have decades of experience in iGaming market expansion.

Bragg expects its new partnership with Caesars Entertainment to support further U.S. growth.

European growth strategy

Bragg is also expanding in Western Europe. The company plans to increase content distribution in Italy, the UK, Spain, and Sweden. It will use existing operator integrations and targeted sales to support this growth.

In Central Europe, Bragg will grow its exclusive content through partnerships with studios like GAMOMAT and King Show Games.

The company also aims to expand its network of partner studios to release more titles in North America.