Matevž Mazij, chief executive officer for Bragg Gaming, said the company’s quarterly results showed “robust growth” for the quarter ending March 31, 2024.
The company’s revenue hit €23.8m, a year-over-year increase of 4.2 per cent, which Mazij said was “largely propelled by organic growth from our current client base, the addition of new customers in multiple jurisdictions, and impressive results from our in-house Wild Streak Gaming casino games studio.”
Gross profit, however, dropped 2.8 per cent to €11.9m, and its Adjusted EBITDA dropped 12.4 per cent to €3.4m, which Mazij attributed to “the extension and renegotiation of our agreement with Entain Plc to provide our PAM platform to BetCity.nl through 2025.”
“Our proprietary and exclusive third-party content continues to gain ground with an increasing number of top-tier operators globally, and we introduced a total of 19 new exclusive titles worldwide in the first quarter of 2024,” he added.
“Additionally, as we continue to make encouraging progress on our strategic alternatives review process, it's important to emphasize that we are operating the business as usual and remain laser-focused on capitalizing on growth opportunities.”
