Connect with us

Industry News

Bragg Gaming Group Reports First Quarter Results

Published

on

Bragg Gaming Group Reports First Quarter ResultsReading Time: 2 minutes

 

Achieves positive EBITDA for the first time in company history as revenue soars by 203 per cent

 

Bragg Gaming Group has reported that its revenue more than tripled in its first full Q1 results.

Bragg has set a strong pace for the first quarter of 2019, achieving CDN $10.4M in revenue, the top of the expected range, and an increase of 203 per cent over the comparable period last year.

Gross profit increased by 181 per cent year-on-year to CDN $5.2M compared to CDN $1.8M in Q1 2018.

Overall, Bragg reported an EBITDA of CDN $63k and a net loss of CDN $1.9M, including a stock-based compensation charge of CDN $1.1M and depreciation and amortisation of CDN $0.8M.

Dominic Mansour, CEO of Bragg, said: “We’re very pleased with our results. It’s our first full quarter, and we’ve been focused on building a solid foundation for future growth. We delivered on our initial goals, including closing a number of divisions within the old Breaking Data organisation and completing a substantial restructure of the GiveMeSport (GMS) business.

“We aggressively cost-managed GMS and pivoted the direction of the sports media site. Bragg was also able to break even at the EBITDA level by quarter-end, the first time in the company’s history and sooner than we expected.”

ORYX Gaming, Bragg’s flagship property, was a key contributor to the strong Q1 results, achieving CDN $9.2M in revenue during the quarter.

Mansour added: “ORYX had an exceptional Q1. Revenue is up 83 per cent over the same period in 2018, and we secured a number of key clients, signing 22 agreements over the quarter.

“We were also successful in our goal of diversifying our customer base. 49 per cent of ORYX’s revenue now comes from our top five customers; a very positive trend when compared to the first quarter of 2018, when over 75 per cent of revenue came from just two customers.”

GiveMeSport, Bragg’s sport media outlet, is also performing ahead of internal expectations. Following the first quarter restructure, the business is already seeing positive results in both its cost structure and key performance metrics. The number of unique Facebook users reached was 65.7M in Q1 with significant growth into Q2, while Facebook video views increased by 52 per cent year-to-date. The site also saw a 123 per cent jump in Facebook video interactions. The GiveMeSport business is currently planning a significant re-launch in the third quarter (August 2019) of the year.

Bragg also made notable changes in its board of directors in the first quarter, adding gaming industry veteran Jim Ryan, M&A expert Paul Pathak and Bragg CFO Akshay Kumar to the board. The company also changed its reporting currency to Canadian dollars and moved its fiscal year to calendar year.

Bragg recently announced it has appointed award-winning journalist Benny Bonsu to lead GiveMeSport’s new women’s sport division.

She will be tasked with building GiveMeSport Women, a global editorial brand dedicated to coverage of women’s sport.

Bonsu has held prior roles at the London 2012 Olympics, the National Basketball Association (NBA), BBC World Service, Sky Sports, MTG Africa, BT Sport and Matchroom Sport.

Bragg’s Annual General Meeting (AGM) will take place on June 27, 2019.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Bragg Gaming Group Reports First Quarter Results

Continue Reading

Industry News

Betmotion Migrates to Patagonia Platform

Published

on

By

Betmotion Migrates to Patagonia PlatformReading Time: 1 minute

 

The Latin American Gaming Platform Betmotion has migrated its online gambling offering to a brand new omni-channel platform powered by Patagonia Entertainment. The mobile-first platform will give Betmotion customers an enhanced user experience.

Much of that market dominance has come from Betmotion’s sportsbook and Patagonia’s platform will build on that momentum thanks to its wide selection of world-class proprietary and third-party games.

These additional games will complement Betmotion’s market-leading iGaming offering. Betmotion now boasts of a one-stop-shop to satisfy all demand across the intricate LatAm territory. Players will be able to clearly differentiate between their bonus balance and real-money balance thanks to Patagonia’s independent wallet design.

Patagonia Entertainment’s platform will enable Betmotion.com to provide an unrivalled user experience and offering its customers a unique state-of-the-art home for entertainment.

“The first half of the year has been one of relentless growth for the business and our migration to the Patagonia Entertainment platform sets us up perfectly for accelerated expansion. Our mobile-first strategy and dedication to offering the best user experience possible is key to further success in LatAm,” Betmotion.com’s COO Luis Traversa said.

“Our omni-channel platform will enable Betmotion to diversify its offering and continue its strong growth in Latin America. We’re thrilled to welcome Betmotion as a partner and give our games extra exposure,” Victor Arias, Patagonia Entertainment’s Global Business Development Manager said.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Betmotion Migrates to Patagonia Platform

Continue Reading

Industry News

Wildz Casino Pairs Machine Learning and Automation with iGaming

Published

on

By

Wildz Casino Pairs Machine Learning and Automation with iGamingReading Time: 1 minute

 

Wildz Casino has paired the Machine Learning and Automation with iGaming. Wildz Casino, powered by a Rootz platform, entered the gaming sector at a time when innovation and “Machine Learning” are emerging as dominant factors in this industry.

In the iGaming industry, the innovative team behind Wildz.com is leading the charge into a “Machine Learning” assisted future. By 2025, the global AI market is projected to be valued at almost $60 billion. Wildz entered the market with a perfectly functioning machine having superb player incentives and unrivalled Loyalty programmes.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Wildz Casino Pairs Machine Learning and Automation with iGaming

Continue Reading

Industry News

RummyCircle Names Prosenjit Chatterjee as Brand Ambassador

Published

on

By

RummyCircle Names Prosenjit Chatterjee as Brand AmbassadorReading Time: 1 minute

 

Online rummy platform RummyCircle has selected popular Bengali actor Prosenjit Chatterjee as its Brand Ambassador.

RummyCircle, the largest online rummy platform in India, is an initiative of Play Games24x7 Pvt. Ltd. Prosenjit Chatterjee who has spent years on the wide screen is a big fan of the popular Indian card game rummy.

“Bengali people have always been fond of card games and rummy is one of the best entertaining card games of India. I am sure everyone will love this new experience of playing the card game online on rummycircle.com with players from all over India. It is really great fun,” Prosenjit said.

The brand unveils its new marketing campaign running with the name #BhorpurManoranjan, giving a completely new fan experience to its players.

“Online rummy is all about entertainment, what we call #BharpurManoranjan. And who better than Mr. Prosenjit Chatterjee who has been the face of the entertainment industry in West Bengal for over a decade. We are very excited to have such a talented person as our brand face and hopefully Bengalis will love playing online Rummy,” Avik Das Kanungo, Brand Head of RummyCircle said.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: RummyCircle Names Prosenjit Chatterjee as Brand Ambassador

Continue Reading
Advertisement
NSoft

Trending