US and Brazil Drive Q1 Expansion for Bragg Gaming
Toronto-Based Bragg Gaming Kicks off 2025 with Solid Performance
Bragg Gaming Group has powered through the first quarter of 2025, building on momentum from the previous year and making headway in fresh markets. The company's latest Q1 report reveals growth in net revenue, higher profit margins, and strong inroads in North and Latin America.
Insights:
- The US market delivered an astounding 150% revenue increase compared to Q1 2024, largely thanks to the company's unique, in-house content offerings[2][5].
- Bragg's grand entrance into Brazil, following the launch of regulated online gambling in the country in January, serves as a promising new growth avenue[2][5].
Bragg Gaming's revenue for the quarter reached $28.6 million, equating to a 7.1% year-over-year increase. The company reported nearly $16 million in gross profit and a staggering $4.6 million in adjusted EBITDA, boasting a 16% margin[4].
"We're firing on all cylinders with our strategy execution, demonstrating a robust growth trajectory that aligns with our shareholders' interests," commented CEO Matevž Mazij[3].
He further explained that by concentrating on proprietary content and exercising budgetary discipline, the company succeeded in strengthening its financials and cash flow[4].
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North America spearheaded growth, with the US seeing staggering triple-digit revenue growth. Meanwhile, Bragg's Brazil debut offered another avenue for growth[3].
Mazij also discussed Bragg's adaptive global footprint. The company is edging away from the Netherlands, where regulatory hassles persist, and instead concentrating on burgeoning markets like the US and Brazil[3].
"I'm proud of Bragg's tenacity amidst mounting pressures and its ability to steer clear of Netherlands reliance while thriving in rising regions like the US and Brazil," Mazij said[3].
Internationally-Fueled Growth
Bragg's growth blueprint for 2025 encompasses several strategic initiatives, such as:
USA Growth Strategy:
- Exclusive, In-House Content: The focus on creating proprietary content, which accounted for 15.5% of total earnings last year, is paramount in driving revenue growth in the US market[5].
- Key Collaborations: Bragg forged a unique technology partnership with Caesars, establishing itself as a key player within an enticing market opportunity[4].
Brazil Launch: Fresh Growth Opportunity
- Expanding Market Presence: Bragg's leap into the Brazilian market is anticipated to fuel growth[2][5].
- Diversifying Revenue: By entering the Brazilian market, Bragg aims to lessen its reliance on other markets, like the Netherlands, where regulatory pressure has hampered development[4].
Finally, by bolstering its presence in emerging markets like Brazil and growing its footprint in the US, Bragg aspires to achieve double-digit growth in both revenue and adjusted EBITDA for the entirety of 2025.
In the pursuit of expansion, Bragg Gaming is capitalizing on technology partnerships and proprietary content to bolster its presence in the lucrative US market, aiming to drive revenue growth. Additionally, Bragg's recent foray into the Brazilian market, fueled by the launch of regulated online gambling, presents an exciting opportunity for business growth and revenue diversification.
