Bragg Gaming Group announces first quarter 2026 financial results

(AsiaGameHub) –    
The firm has disclosed total quarterly revenue amounting to €25.7 million (equivalent to US$29.7 million).

Press release: Bragg Gaming Group has revealed its financial performance figures for the first quarter of 2026.

Q1 2026 financial highlights:

• Revenue growth: First-quarter total revenue reached €25.7 million (US$29.7 million):

– Revenue from the Netherlands rose by 3.5% year-on-year, driven by a temporary boost from a fixed Player Account Management (PAM) contract with Entain Plc (LSE: ENTL);

– Revenue in Brazil climbed 33.3% versus the first quarter of 2025, supported by ongoing expansion in provider onboarding; and

– Recurring revenue in the United States grew 7.1% year-on-year, fueled by an expanded footprint of high-margin proprietary content. However, total U.S. revenue fell 12.1% because of one-time revenue in Q1 2025 linked to the company’s content and technology initiative with Caesars Entertainment for its online casino platforms; and

– Overall revenue increased by 0.6% year-on-year.

• Operating loss, net loss, and adjusted EBITDA: First-quarter operating loss stood at €1.4 million (US$1.7 million), a €0.3 million (US$0.1 million) improvement over the €1.7 million (US$1.8 million) operating loss recorded in the same period of 2025. Net loss for the quarter was €1.2 million (US$1.4 million), or €0.05 (US$0.05) per common share— a 55% improvement from the €2.6 million (US$2.8 million) net loss (€0.11/US$0.12 per common share) in Q1 2025. Adjusted EBITDA for Q1 2026 was €4.0 million (US$4.6 million), corresponding to an Adjusted EBITDA Margin of 15.7%, versus €4.1 million (US$4.3 million) and a 16.0% margin in Q1 2025.

Q1 2026 and recent business highlights:

• Extended Key Player Account Management (PAM) agreement in Europe: Bragg announced the extension of its existing end-to-end Player Account Management (PAM) platform and turnkey solution contract with Senator Group, a leading online casino operator in Croatia.

• Chosen as preferred content delivery partner across a multi-brand, multi-jurisdictional portfolio: Leveraging a partnership that started in 2020 and has already resulted in successful launches in Romania, Belgium, Serbia, and Brazil, Super Technologies chose Bragg as its preferred content delivery partner. This collaboration will support Super Technologies’ aggressive expansion strategy by offering quick access to high-quality content and ensuring the technical and compliance readiness required for strict regulated markets. Shortly after, Bragg revealed it played a key role in Super Technologies’ successful entry into the regulated Greek market via its flagship Superbet brand— a major step forward in Bragg’s global growth plan.

• Positioned for Finnish market liberalisation: Bragg entered into a full PAM platform and turnkey solution agreement with SuomiVeto, a new market player led by the founders of the successful BetCity.nl. Under this deal, Bragg will supply SuomiVeto with access to an extensive library of exclusive and aggregated casino games, a fully managed sportsbook, award-winning Fuze player engagement tools, and end-to-end managed marketing and operational services in Finland’s newly regulated igaming market— set to launch for private operators on July 1, 2027.

• Leapt into an Artificial Intelligence (AI)-First Future: Bragg started developing the Bragg AI Brain, a data-powered AI engine aimed at enabling smarter decision-making and intelligent products across its ecosystem. This initiative is intended to lower the company’s overall cost structure, boost EBITDA growth, and guide it toward consistent net profitability.

• Strengthened leadership team and changed board: Bragg appointed Morten Tonnesen as its new Chief Operating Officer (COO), tasked with driving operational efficiency and executing the company’s bold AI-First transformation. It also promoted Garrick Morris to Executive Vice President of Global Content, US & Canada, with a focus on expanding content offerings. Additionally, Thomas Winter— a well-respected figure in the gaming industry— joined Bragg’s board of directors, replacing Kent Young, who retired from the board.

• Executed a strategic restructuring to reduce cost structure and improve operating performance: Bragg finalized a strategic restructuring, which included a roughly 12% cut to its global workforce. This move is intended to realign the organization, optimize its cost structure, accelerate EBITDA growth, and reduce the time needed to achieve long-term net profitability. In Q1 2026, the company incurred around €0.7 million (US$0.9 million) in restructuring costs linked to employee termination expenses. It expects annual cash savings from staff cuts and other restructuring measures to reach approximately €4.5 million (US$5.2 million).

• Ensured greater board alignment with shareholders: As of January 1, 2026, director fees are paid solely in deferred share units (DSUs) on a monthly basis, with no cash option available.

• Entered into agreement for a transformational acquisition: Earlier today, Bragg announced it has entered into a binding agreement to acquire Drayton International (Drayton), a diversified gaming technology and content platform. Upon closing the deal, Matthew Davey— a prominent gaming entrepreneur— will join Bragg’s board as Non-Executive Chairman, enhancing the company’s leadership as it enters its next growth phase.

Matevž Mazij, chief executive officer for Bragg, commented: “We maintained strong execution across our business in the first quarter. However, in many respects, I think we’re just getting started as we work to finalize our potentially game-changing acquisition of Drayton. This deal, we believe, will position Bragg to lead the global gaming industry’s future— with the right team, top-tier technology, a refreshed brand, and a clear ‘games-first’ focus.”

2026 Outlook

Bragg Gaming Group reaffirms its full-year 2026 guidance: revenue is expected to range between €97.0 million and €104.5 million, with Adjusted EBITDA of €16.0 million to €19.0 million (corresponding to an Adjusted EBITDA Margin of 16.0% to 18.0%). The company noted that these projections do not account for any potential revenue or Adjusted EBITDA effects from the planned Drayton acquisition.