Bragg Gaming Group has reported a “strong start” to the year, sharing its financial results for the quarter ending March 31, 2025, with US revenue growth of 150 per cent.
Total revenue came in at €25.5m, a growth of seven per cent from €23.8m year-on-year, or a growth of 27 per cent excluding the Netherlands.
Gross profit was €14.3m, up from €11.9m year-on-year, and gross profit margin was 56 per cent, up from 49.9 per cent year-on-year.
Adjusted EBITDA came in at €4.1m, up from €3.4m.
"We are thrilled to be reporting a strong start to 2025, showing that we are executing on our strategy and moving the metrics that we believe are most important to shareholder value," said Matevž Mazij, CEO of Bragg
"During the quarter we continued to improve our product mix, generating a greater proportion of revenue from high-margin proprietary content. In turn, this contributed to a higher Adjusted EBITDA margin, which combined with careful cost controls demonstrate operational leverage and increased cash generation.
“As is widely reported, the Netherlands market has slowed in recent quarters due to regulatory pressures, a challenge faced by Bragg as with all operators and suppliers who serve this regulated market. I’m pleased that Bragg has shown resilience under these pressures and is reducing its exposure to the Netherlands while seeing strong growth in markets such as the United States and Brazil.
“Excluding the Netherlands, revenue growth year-over-year came in at a robust 27 per cent, driven in part by triple-digit growth in the US.”
