Bragg Announces Deal with Lenders to Help Propel Growth Opps

Posted on: April 25, 2025, 04:47h. 

Last updated on: April 25, 2025, 04:58h.

Mark Keast Read More
Expertise: Canadian Gaming, iGaming, Las Vegas, Sports Betting, NFL, Boxing, UFC.

Bragg Gaming Group, the Toronto-based igaming content and platform technology solutions provider, serving online and land-based gaming operators, today announced a deal with its lenders which company executives says will give it more flexibility to pursue strategic growth strategies.

New Third Party Credit Facility

More specifically, Bragg announced it has reached an agreement to repay USD $5 million of its outstanding USD $7 million secured promissory note with its lenders and to extend the maturity of the remaining USD $2 million. The lenders are entities controlled by Doug Fallon, a senior officer of the company.

This partial repayment and extension will further strengthen our balance sheet and reflects our confidence in the business,” said Robbie Bressler, CFO of Bragg.

Bragg is in the process of securing a new revolving credit facility from a third-party lender, the company said in a statement. The new facility is expected to have more favourable borrowing costs and drawdown flexibility.

Brazilian Expansion

“With a reduced need for working capital support, we’re focused on finalizing a new facility to secure standby credit, allowing for greater financial flexibility and enabling us to pursue strategic growth opportunities,” Bressler added.

In the statement, Bragg intends to pay the USD $2 million balance on or before the June 6, 2025 maturity date.

The company is in growth mode, recently announcing it expects revenue growth of its operations in Brazil and North America in 2025 to hit a projected 17.9% full-year increase to USD $127.4 million.

Projected 17.9% Full-Year Rev Growth

Earlier in 2025 Bragg announced it was now live in the Brazil market with its product, and earlier this month announced a partnership with RapidPlay, a Brazilian game development studio.

Bragg announced a content deal with Loto-Quebec in Febraury of this year, and entered the regulated Ontario market in March 2022.