BRAGNasdaqServices-Computer Rental & LeasingUS GAAP · USD

Bragg Gaming Group Inc.

Bragg Gaming Group Inc. is a B2B online gaming technology company that supplies casino content, player account management software, and player engagement tools to regulated iGaming operators. The company is based in Toronto and serves customers across North America, Europe, and other regulated online gaming markets through its proprietary studios, aggregated content, and platform technology.

Liikevaihto106milj. USD
+4,0 %v/v
Liikevoitto (EBIT)−5,2milj. USD
−32,1 %v/v
EBIT-marginaali−4,9%
−1,0 %-yks.v/v
Nettotulos−8,1milj. USD
−57,7 %v/v
Vapaa kassavirta3,1milj. USD
+253,6 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2022–2025

−250255075100125milj. USD2022: 85 milj. USD2022: EBIT −0,94 milj. USD20222023: 94 milj. USD2023: EBIT −0,71 milj. USD20232024: 102 milj. USD2024: EBIT −3,9 milj. USD20242025: 106 milj. USD2025: EBIT −5,2 milj. USD2025106−5,2
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Casino content45 %

Proprietary, exclusive, and aggregated online casino games supplied to operators.

Platform technology35 %

Player account management and back-office software for iGaming operators.

Player engagement tools10 %

Fuze and related tools that track player behavior and support retention.

Content distribution7 %

Bragg HUB and RGS-based delivery of games to operator platforms.

Managed services3 %

Operational, marketing, and support services for operator customers.

Asiakkaat

Bragg sells primarily to online casino, sports betting, and lottery operators that need games, platform infrastructure, or both. Its customers are regulated gambling operators that use Bragg to add content, manage player accounts, and improve retention and monetization across digital gaming channels.

Online casino operators

Buy casino games, aggregated content, and retention tools to expand their game lobby and player engagement.

Sports betting operators

Use Bragg’s platform technology and content layers to support cross-sell and unified player management.

Lottery operators

Use digital gaming content and back-office tools to support regulated online lottery and adjacent products.

Regulated iGaming brands

Buy PAM, HUB, and managed services to operate in multiple jurisdictions with one technology stack.

Strategia

Bragg’s strategy centers on combining proprietary content, third-party aggregation, and platform technology into a single operating stack for operators. The company also uses data-driven content development and player engagement tools to deepen customer value and make its offering more sticky across regulated markets.

Grow proprietary and exclusive contentKeskipitkä aikaväli

Owned and exclusive games improve differentiation and reduce dependence on third-party supply.

Expand platform footprintKeskipitkä aikaväli

Bragg PAM and Bragg HUB can anchor multi-product operator relationships and increase switching costs.

Strengthen player engagement capabilityLyhyt aikaväli

Fuze and data tools help operators improve retention and lifetime value, supporting recurring usage.

Maantiede

Bragg operates across more than 30 regulated iGaming markets, with activity in the United States, Canada, Latin America, and Europe. The business is geographically important because its products must be certified and localized for each market, while regulatory access determines where games and platform services can be sold.

Riskit

Bragg’s business depends on maintaining access to regulated gaming markets, so licensing, compliance, and jurisdictional changes are central risks. It also faces product and platform competition, customer concentration risk within the iGaming operator base, and execution risk in integrating content, technology, and data-driven services across multiple jurisdictions.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Regulatory and licensing risk1Operator customer concentration2Technology and uptime risk3Competitive content and platform risk4
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Regulatory and licensing riskVaikutus: KorkeaTodennäköisyys: Korkea

    The company can only sell into markets where it is licensed, certified, or approved.

    Kohdistuu: Regulated iGaming markets

  2. Operator customer concentrationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Revenue depends on a relatively limited base of online gaming operators.

    Kohdistuu: B2B iGaming customers

  3. Technology and uptime riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Platform and content delivery failures would affect customer operations and usage.

    KohdistuuBragg HUBPAMRGS
  4. Competitive content and platform riskVaikutus: KeskitasoTodennäköisyys: Korkea

    Operators can switch to alternative games studios or PAM providers.

    Kohdistuu: Casino content and platform software

Kirjanpito

Harkinnanvaraiset erät
Capitalized intangible assets

Game and platform development spend may be capitalized and later amortized.

Vaikutus: Affects operating expense timing and asset carrying values

Equity-based compensation

Options, warrants, and DSUs create dilution and compensation expense.

Vaikutus: Affects share count and reported personnel costs

Foreign currency translation

The company reports in euros but operates in several currencies.

Vaikutus: Affects cash balances and consolidated results

Usage-based internal metrics

Selected financial information depends on internal estimates of customer usage.

Vaikutus: Can affect interpretation of product engagement trends

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 28.9.2026

Bragg Gaming Group Inc. (Nasdaq) – Services-Computer Rental & Leasing | Analyysi – Clarifo