Bragg Gaming Projects Double-Digit Revenue Growth for 2025
Bragg Gaming Group, a Toronto-headquartered provider of iGaming content and platform technology solutions, revealed on Wednesday its preliminary unaudited results for the fiscal year 2024 (which concluded on December 31) and forecasts for 2025, emphasizing a double-digit increase in revenue.
The outcomes were “derived from data presently accessible to management and specific strategic efforts and provided financial guidance for 2025,” as stated. Higher-Margin Products
The firm expects its total revenue for 2024 to reach at least €102 million (or US$106.2 million), marking a 9% rise from €93.5 million (or US$97.2 million) in 2023, and adjusted earnings before interest, taxes, and amortization (EBITDA) of at least €15.4 million, equivalent to US$16 million, representing a 1% increase from the previous year.
Revenue for the year ending Dec. 31, 2025, is forecasted to fall between €117.5 million and €123 million (equivalent to US$122.4 million to US$128 million), indicating double-digit growth compared to the expected revenue for 2024.
Adjusted EBITDA is expected to be between €19 million and €21.5 million (approximately US$19.7 million to US$22.4 million), as the company shifts towards "higher-margin product offerings."
Management Forecasts Growth for 2025
“I am very satisfied with our expectations for the 2024 results and truly enthusiastic about the robust growth path projected in our 2025 guidance,” stated Matevž Mazij, CEO of Bragg. "Our targeted investments in exclusive and proprietary content, along with diverse Data, Player journey, and AI-driven engagement capabilities, are projected to propel our growth in 2025."
Mazij mentioned that by concentrating on products that enhance margins, we are strategically placed to increase both revenue and profit while exploring opportunities in major markets like Brazil and the United States.
Bragg has had a busy 2025 to date. Several weeks ago, Bragg revealed that the company had officially launched its product in the newly inaugurated Brazil market.
Brazil in Focus
According to H2 Gambling Capital, the online casino sector in Brazil is anticipated to reach a value of US$1.4 billion by 2025 and US$3.7 billion by 2030. Bragg anticipates that the Brazilian iGaming market will account for as much as 10% of the firm’s overall revenue by 2025.
Bragg anticipates securing agreements with 50% of the licensed operators in Brazil by the conclusion of Q2 2025.
In early January, Bragg revealed an enhanced partnership with Caesars that encompassed exclusive collaboration on game development and a lease of Bragg’s Remote Gaming Server technology, enabling Caesars to produce its own proprietary online casino games for the regulated markets in Canada and the United States.
Exclusive Content Fueling Expansion
“Our PAM (player account management) product remains a top-tier performer, and while our 2025 growth will largely come from the content side of the business,” said Mazij, adding that the company has “exciting prospects” to expand the offering.
Mazij expressed that he is “especially proud of the solid executive team we have put together at Bragg over the past year.” The newly revealed Caesars agreement showcases their remarkable abilities.
Several strategic factors driving Bragg's expected growth encompass Brazil's growth potential, a transition to proprietary and exclusive content yielding higher margins (reduced dependence on third-party content), enhanced market penetration in the US, and greater reach in key European markets.
The company is expanding its list of partner studios for exclusive content, utilizing AI-driven improvements to enhance player experiences and profitability, pursuing technological advancements like FUZE, and elevating player experiences to increase revenue from its product portfolio.
