This week, international B2B gaming technology and content supplier Bragg Gaming Group revealed its fiscal numbers for the fourth quarter and full-year that ended on December 31, 2021. For the fourth quarter of 2021, the gaming leader recorded an improvement in terms of revenue over its previous Q4 performances, as it was boosted to US$17.5 million.
Bragg Gaming Group is a global gaming technology content conglomerate in the iGaming industry, which operates in key European, North American, and Latin American markets. The company delivers content via its wholly-owned subsidiary ORYX Gaming, and most recently it was licensed by the Alcohol and Gaming Commission of Ontario to enter its new regulated iGaming market.
Q4 and Full Year Performance
Despite, the boost of revenue for Q4 of 2021, the company reported that wagering volume by patrons has declined by 8.8% to US$3.4 billion. In contrast, in Q4 of 2020, the conglomerate reported numbers of US$3.8 billion. This wan in relation to changes in product mix, towards Player Account Management, managed services, and proprietary content, which enhanced gross profit and Adjusted EBITDA.
For Q4 of last year, gross profit stood at US$8.9 million, which was an impressive increase of 33.3% of 2020’s Q4 of US$6.7 million. While a net loss for the said period was in the amount of US$1.8 million, which is a decrease from the US$5.9 million in Q4 of 2020. This is explained via the higher gross profit and reduction of costs related to deferred consideration payable.
And in terms of full 2021 financial performance, Bragg Gaming Group informed that its revenue has increased to US$64.7 million for 2021. This is a 25.6% boost from its US$51.4 million from the previous year. Betting volume by consumers has also improved drastically, as in 2021 it was US$15.9 billion, or 21.1% more than the results from 2020, which were valued at US$13.3 billion.
In addition to that, the number of unique players on the company’s ORYX Hub distribution platform and content has risen by 11.2% to 6.5 million players. In comparison, back in 2020, the player count stood at 5.9 million. Gross profit has also improved for 2021, at the company generated US$31.4 million, which is 40.3% more than the reported US$22.4 million from 2020.
Part of the Expansion
This week, Bragg Gaming Group also informed that it has been awarded a license to join Ontario’s new iGaming and sports betting market. The province’s new gaming regime opens on April 4, 2022, and the company has now joined several other gambling brands in the market, including World Series of Poker, PointsBet, Rivalry, theScore, 888, and the most recent one FansUnite.
Consolidating Presence in Spain
The news from the global gaming leader does not stop here, as most recently it announced that it has inked an agreement to extend its footprint across the Spain regulated market. This will be done by integrating its world-class gaming content with 888casino, which is also an industry-leading brand and part of 888 Holding plc. Soon local players will have access to ORYX Gaming’s RGS portfolio as well as titles from Atomic Slot Lab, and Blue Guru.
Source: “Bragg Gaming Group 2021 Reports Record Fourth Quarter Results as Revenue Rises 14.4%” Bragg Gaming Group, March 10, 2022