Bragg Gaming Projects Double-Digit Revenue Growth for 2025

Posted on: January 29, 2025, 08:18h. 

Last updated on: January 30, 2025, 10:25h.

Bragg Gaming Group, the Toronto-based iGaming content and platform technology solutions provider, announced Wednesday its preliminary unaudited results for the 2024 fiscal year (ended December 31), and projections for 2025, highlighted by a double-digit uptick in revenue.

The results were “based on information currently available to management and certain strategic initiatives and issued financial guidance for 2025,” according to a statement.

Bragg Gaming’s Dragon Power Super Orbs game. The company projects a double-digit increase in revenue for 2025. (Image: Bragg Gaming)

Higher-Margin Products

The company anticipates full-year 2024 revenue to come in at not less than €102 million (US$106.2 million), a 9% increase from €93.5 million or US$97.2 million for 2023), with adjusted earnings before interest, taxes, and amortization (EBITDA) of not less than €15.4 million, or US$16 million, a 1% increase from 2023.

Revenue for the year ended Dec. 31, 2025, is projected to reach between €117.5 million and €123 million (between US$122.4 million US$128 million), which would represent double-digit growth when measured up against the anticipated 2024 revenue.

Adjusted EBITDA is projected to range between €19 million and €21.5 million (between US$19.7 million and US$22.4 million), as the company moves toward “higher-margin product offerings.”

Management Predicts 2025 Growth

I am pleased with where we believe 2024 results will land and very excited about the strong growth trajectory outlined in our 2025 guidance,” said Matevž Mazij, CEO of Bragg. “Our strategic investments in proprietary and exclusive content as well as various Data, Player journey, and AI-enhanced engagement features, are expected to drive our growth in 2025.”

Mazij added that by “focusing on margin-accretive products, we are well-positioned to boost both revenue and profitability while pursuing opportunities in key markets such as Brazil and the United States. “

It’s been an active 2025 so far for Bragg. A few weeks back, Bragg announced the company was now live in the newly opened Brazil market with its product.

Brazil a Focus

The online casino market in Brazil is projected to be worth US$1.4 billion in 2025 and US$3.7 billion by 2030, according to H2 Gambling Capital. Bragg is hoping the Brazilian iGaming market will represent up to 10% of the company’s total revenue in 2025.

Bragg expects to have deals with half of the licensed operators in Brazil by the end of Q2 2025.

Earlier in January, Bragg announced an expanded partnership with Caesars that included exclusive game development collaboration and a lease of Bragg’s Remote Gaming Server technology that will allow Caesars to create its own proprietary online casino games for both the regulated Canadian and United States markets.

Proprietary Content Driving Growth

“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 added that he’s “particularly proud of the strong executive team that we have assembled at Bragg this past year. The recently announced Caesars deal highlights their impressive capabilities.”

Some of the strategic drivers fuelling Bragg’s anticipated growth include Brazil’s growth potential, a shift toward proprietary and exclusive content delivering higher margins (less of a reliance on third-party content), increased US market penetration, and stronger penetration in major European markets.

The company is also increasing its roster of partner studios for exclusive content, deploying AI-driven optimizations to improve player experiences and profitability, continuing with technological innovations such as FUZE, and enhancing player experiences to boost its product portfolio revenue.