Further proof that the Covid-19 pandemic had a positive effect on the operators of online gambling comes from the first quarter results of Canada’s Bragg Gaming Group that showed a 44 per cent increase in revenue and 100 per cent adjusted EBITDA growth.
The company says that further diversification of its revenue had an impact, including signing new agreements with leading names such as Gamesys, SkillOnNet, Leon, CasinoSecret and Hub88 and is in talks with another 20 potential new customers in licensed jurisdictions in Europe and Latin America.
Dominic Mansour, CEO acknowledged the impact of the pandemic and recognised that Bragg had benefited from people choosing to seek safe entertainment alternatives at home. “We have also focused on expanding our presence in the US gaming market, establishing a foothold there last year with our Kambi and Seneca partnership.”
Group revenue was €8.8m compared with €6.1m in the quarter. EBITDA was €0.8m compared with half that in 2019. The group expects second quarter revenues to be up 30 percent and forecasts full-year revenues to be between €35m and €38m.
The group develops B2B gaming solutions, including an omni-channel retail, online and mobile igaming platform and casino content.
