Bragg Gaming Group has released its financial results for the second quarter of 2019, reporting record revenue growth year-over-year.
Bragg also announced that it is launching a review to evaluate strategic alternatives for its GiveMeSport and GiveMeBet assets, including a possible sale, as part of its effort to focus the business on maximising revenue and cash flow generation through B2B licensing deals, ORYX Hub and aggregated gaming content. Q2 2019 was the second full quarter for Bragg and the company demonstrated continued growth with CDN$8.8m in revenue, gross profit of CDN$3.8m, EBITDA loss of CDN $0.3M, and net loss from continuing operations of CDN $6.4M. These results culminated in performance in H1-2019 of revenue of CDN$18m, gross profit of CD $8.2m, EBITDA of CDN$0.4m and net loss from continuing operations of CDN$9.4m. In the first half of 2019, Bragg subsidiary ORYX Gaming launched a record 22 new operators and built a strong pipeline for H2 2019. The year-on-year strong revenue growth ORYX achieved in Q1 of this year extended into Q2, leading to an aggregate 48 per cent revenue growth in the H1 of 2019 compared to H1 2018.
