Bragg Gaming Group Sees Revenue Surge in Q2 2025

Bragg Gaming Group, a leading iGaming content and technology provider, has reported a notable increase in revenue for the second quarter of 2025. The company, headquartered in Toronto, witnessed its earnings climb to €26.1 million, representing a 4.9% rise compared to the same period in 2024. Despite facing external pressures across key markets, Bragg Gaming has undertaken a strategic transformation aimed at optimizing cash flow, boosting margins, and streamlining operations to endure these challenges.

Strategic Focus on Margins and Expansion

During the second quarter, Bragg Gaming's gross profit ascended by 10.8% to reach €13.7 million, enhancing the gross margin from 49.9% to 52.7%. Nevertheless, the Adjusted EBITDA experienced a slight decrease to €3.5 million from the previous year's €3.6 million. Additionally, the operating loss expanded to €2.3 million, up from €1.2 million in Q2 2024, reflecting costs imbibed in ongoing restructuring efforts. Bragg’s CEO, Matevž Mazij, highlighted a pivotal shift in the company's strategic approach following its comprehensive review in 2024. Mazij emphasized, "In our 2024 strategic review, we identified cash flow, integration and margin as key priorities and value drivers for Bragg Gaming Group." Underlining the effort to streamline operations, Bragg has realized €2 million in annualized synergies through the consolidation of resources across acquired entities like Spin Games and Wild Streak Gaming. These initiatives are designed to heighten efficiency and position the company for enduring growth. Faced with modest topline growth, Mazij clarified that Bragg is prioritizing profitability, especially in light of mounting gaming taxes within markets such as Brazil, The Netherlands, and Romania. He asserted, "We’re prioritizing improved margin and cash flow performance over aggressive revenue expansion," reiterating his confidence in finding long-term beneficial opportunities.

Operational Innovations and Forward Outlook

Within the second quarter, Bragg furthered its U.S. reach by partnering with Fanatics Casino in the Tri-State area and securing an exclusive content development contract with Hard Rock Digital. In addition, the company bolstered its Brazilian presence through local studio RapidPlay, capitalizing on the country's newly regulated iGaming framework. Innovation continues to be paramount, with the introduction of the Big Ticket Bonanza gamification feature designed to boost user engagement significantly. The company has also made strategic leadership appointments to drive its transformation. Luka Pataky has been named EVP of AI and Innovation, steering an organization-wide shift towards AI-driven operations. Additionally, Scott Milford joins as EVP of Group Content, bringing significant expertise to enhance Bragg’s burgeoning content strategy. Adapting to current market dynamics, Bragg has adjusted its 2025 revenue forecast to between €106.0 million and €108.5 million, influenced by market challenges such as regulatory tax amendments and a dip in the Dutch iGaming sector. Yet, Bragg Gaming continues to outperform its peers in the region. For the full year, Adjusted EBITDA estimates have been updated to range between €16.5 million and €18.5 million. The company foresees its renewed strategy focusing on margins to elevate the Adjusted EBITDA margin in the latter half of 2025. Concluding on a positive note, Mazij stated, "The actions taken in Q2 position us to achieve a 20% Adjusted EBITDA Margin target in the second half of 2025." Bragg remains committed to growth through proprietary content and technological innovation, effectively steering towards margin-enhancing progression. Source: "Bragg Gaming Group Reports Second Quarter 2025 Revenue Increase 4.9% over the Second Quarter of 2024 to EUR 26.1M; 21% year-over-year¹ revenue growth excluding The Netherlands, Proprietary Content Revenue up 44% year over year", bragg.group, August 14, 2025. By GamesAndCasino