Bragg Gaming Trims Workforce Again, Cutting 19% of Global Staff

Toronto-based Bragg Gaming Group, the iGaming content and technology provider, announced a 19% reduction of its global workforce on July 9, marking its second major round of layoffs this year following a 12% staff cut in January.

The latest workforce reduction is expected to generate €6 million ($6.5 million) in incremental annualized cost savings once fully implemented.

When combined with the €4.5 million saved during the January restructuring, Bragg is slicing a total of €10.5 million off its annualized operational expenses. The company expects to incur roughly €600,000 in one-time employee termination costs during the second half of 2026.

Second Round of Cuts

According to CEO Matevž Mazij, the aggressive cuts are explicitly tied to accelerating the company’s “AI-First” transformation goals for 2027, which aim to automate up to three-quarters of Bragg’s internal operational workflows.

“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,” Mazij said in a statement, noting the move prepares the company to be a leaner, highly sustainable, cash-generative business.

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.

At Bragg’s recent Annual General Meeting, over 55% of shareholders actually voted against re-electing Mazij to the board of directors amid pushback on stock performance—though he remains firmly in place as chief executive to oversee this massive operational pivot.

Mounting Corporate Challenges

The steep workforce reductions follow a series of operational body blows for the provider. Most notably, Bragg recently lost its largest anchor client, Entain’s BetCity, after the Dutch operator migrated off Bragg’s Player Account Management (PAM) platform and onto its own proprietary technology stack.

Entain originally acquired BetCity in 2023.

Concurrently, Bragg has suffered a talent drain at Wild Streak Gaming, its premium, Las Vegas-based slot studio, losing core development talent and key members of the leadership team.

Financial strain from the studio’s acquisition has also lingered; in September 2025, Bragg was forced to secure a $6 million (€5.2 million) credit facility with the Bank of Montreal just to pay off an outstanding $7 million (€6.1 million) promissory note tied to Wild Streak’s founder, Doug Fallon.

Leadership Shakeup Continues

To counteract these headwinds, Bragg is aggressively restructuring its leadership and capital format. On May 14, the company announced the strategic acquisition of gaming technology and content platform Drayton International.

To fund its next phase, Bragg executed a non-brokered private placement on June 1, issuing up to 751,445 subscription receipts at $1.73 (€1.51) per share.

This funding round secured critical 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 deep 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.

Bragg Gaming Group continues to market its core PAM platform, the Bragg HUB product delivery solution, and the Fuze gamification toolset across several Canadian provinces, the U.S., Europe, and Brazil.