Bragg Gaming Group Cuts 19% of Global Workforce

Toronto-based Bragg Gaming Group, the igaming content and technology provider, today (July 9) announced a reduction of 19% of its global workforce, on top of the 12% that it cut last January.

Bragg said in a statement the move will result in annualized cash savings of approximately USD$6.85 million (€6 million) once fully implemented. 

That’s on top of the USD$5.14 million (€4.5 million) in cash savings from the layoffs announced in January.

Second Round of Cuts

“We believe that the steps we took at the start of the year were the right ones for the business, and today we are going further,” said Matevž Mazij, Chief Executive Officer at Bragg. 

“These measures are designed to deliver focus, discipline, execution and cash generation. By combining a more focused organization with the acceleration of our AI-First transformation, we are structurally improving our costs while continuing to protect the technology, content and people that drive our competitive advantage.”

AI Strategy Accelerates

The latest restructuring news comes at a challenging time for the company, dominated by operational setbacks, corporate restructuring and a decline in its stock price. The Nasdaq share price was at USD$1.83 (€1.60) as of 3:49 p.m. EST today, with the 52-week high at USD$4.78 (€4.18) per share.

On June 19, Mazij resigned from the company’s board of directors after failing to secure a majority vote from shareholders during the company’s annual general meeting in Toronto (June 18).

Mounting Corporate Challenges

Other recent body blows that have hit the company include the loss of its largest anchor client, Entain’s BetCity, when that company migrated off of Bragg’s Player Account Management (PAM) platform and onto its own proprietary technology stack. Entain acquired the Dutch operator in 2023.

Bragg lost core development talent and key members of the leadership team behind Wild Streak Gaming, its premium, Las Vegas-based slot studio. 

In September 2025, Bragg secured a USD$6 million (€5.2 million) credit facility with the Bank of Montreal to pay off an outstanding USD$7 million (€6.1 million) promissory note tied to Wild Streak Gaming’s founder Doug Fallon.

Leadership Shakeup Continues

On May 14, the company announced the acquisition of gaming technology company and content platform Drayton International, and on June 1, announced a non-brokered private placement of up to 751,445 subscription receipts at USD$1.73 (€1.51) per share.

This funding round secured backing from major corporate insiders alongside renowned gaming entrepreneur Matt Davey, the founder of Tekkorp Capital. Upon completion of the deal, Davey is slated to bring his igaming expertise into the fold by taking over as Non-Executive Chairman of Bragg’s board of directors, controlling roughly a 10% stake in the company.

Capital Raise and Growth

“The measures announced today build directly on the restructuring we announced in January and move us decisively toward sustained cash generation – leaving Bragg leaner, sharper and well positioned for growth, and the market consolidation opportunities we see ahead as the industry further regulates,” said Mazij. 

Bragg Gaming Group offers PAM, Bragg HUB, an igaming product delivery solution, and Fuze, a gamification and engagement toolset. 

Bragg operates across several Canadian provinces, the U.S., European countries and in Brazil.