Bragg Gaming Group Achieves 107 Per Cent Income Progress within the Second Quarter TSX Enterprise Alternate:BRAG

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TORONTO, Aug. 27, 2020 (GLOBE NEWSWIRE) — Bragg Gaming Group Inc. (TSXV: BRAG, OTC: BRGGF) (“Bragg”, the “Group” or the “Firm”) right now launched its monetary outcomes for the three months ended June 30, 2020. Bragg is happy to announce that the Firm continued its sturdy upward income and Adjusted EBITDA[*] development trajectory over the quarter, reaching 107 per cent income development year-over-year and producing Adjusted EBITDA of €1.8m (C$2.8m) within the quarter as in comparison with a €0.3m (C$0.5m) loss for a similar interval within the prior yr.

“We’re extraordinarily happy with the substantial progress we’ve achieved up to now in 2020,” stated Paul Pathak, Chair of the Board of Administrators at Bragg. “We’ve delivered sturdy income and EBITDA development and have made nice strides in diversifying our revenues and reaching new audiences.”

Bragg continues to deal with rising and diversifying its world footprint and successful prospects in new jurisdictions, demonstrated by the signing of 11 new prospects within the quarter together with MaxEnt, SuperBet and Candlebets. The Firm additionally strengthened its distinctive video games portfolio with the launch of an extra Eight video games, together with video games by Gamomat, Kalamba, and Golden Hero.

“As we develop globally, we’ve additionally continued to spend money on our individuals, platforms and merchandise,” continued Mr. Pathak. “Our entry earlier this yr into the burgeoning U.S. gaming market has given us a basis from which to construct our presence, and we’re various promising alternatives for development. We’re additionally constructing our presence in new markets, together with jap Europe and Latin America.”

Whereas acknowledging the widespread adversarial influence of the COVID-19 pandemic on individuals and companies globally, Bragg’s enterprise has skilled a big uptick in shopper engagement and income, as the net on line casino gaming sector continues to develop.

Second Quarter 2020 Highlights and Enterprise Developments

  • Group income of €12.1m (C$18.9m[†]) vs €5.9m (C$9.2m) in Q2 of 2019 and €8.8m (C$13.7m) in Q1 of 2020, representing 107 per cent development yr on yr and 38 per cent quarter on quarter, respectively
  • Group Adjusted EBITDA of €1.8m (C$2.8m), representing important development from a lack of €0.3m (C$0.5m) within the prior yr and acquire of €0.7m (C$1.1m) in Q1 of 2020.
  • Profitable launch of a number of new operators together with together with MaxEnt, SuperBet and Candlebets
  • Decreased dependence on German-facing operators with Schleswig-Holstein licenses; this income decreased to 28 per cent of complete revenues vs 47 per cent in Q2 of 2019, demonstrating the underlying success of the Group’s diversification efforts and worldwide development initiatives.
  • Profitable receipt of the main worldwide ISO/IEC 27001 certification, underlining the provider’s dedication to data safety. The certification will allow ORYX Gaming to proceed its world enlargement into regulated markets and to supply its intensive content material portfolio to much more operator companions.

Third Quarter 2020 buying and selling replace and full yr 2020 Monetary Steerage
The Group’s strong monetary development continued into the third quarter of 2020 with income anticipated to be in step with administration expectation. In consequence, the administration is assured in its monetary steering for 2020 and up to date its 2020 income forecast. Bragg forecasts income for 2020 to be within the vary of €38m to €40m (C$59m to C$62m) (versus precise 2019 income of €26.6m (C$41.5m), a rise of as much as 50 per cent versus 2019, with Adjusted EBITDA for 2020 within the vary of €5.2m to €5.6m (C$ 8.1m – 8.7m) (versus precise 2019 Adjusted EBITDA of €1.0m (C$1.5 million)), which might characterize a bigger improve resulting from elevated margins because the Firm continues to scale, and distinctive efficiency in topline income ensuing from a mix of current buyer development and new buyer contribution.

Board Appointment and Interim Modifications
Bragg additionally introduced right now that, efficient instantly, Adam Arviv has been appointed as a director of Bragg. Mr. Arviv will serve on the board of administrators of the Firm till the following annual assembly of shareholders. The Chief Govt Officer of the Firm, Dominic Mansour, is taking a interval of paid go away for private causes and Adam Arviv has been appointed because the Interim Chief Govt Officer of the Firm.

“We’re happy to welcome Adam to the Board and we thank him for taking over the position of Interim Chief Govt Officer,” stated Mr. Pathak. “We’re assured his appointment to the Board will help with the profitable execution of Bragg’s current strategic plan.”

Second Quarter 2020 Convention Name Data
Adam Arviv, Bragg’s Interim Chief Govt Officer will host the convention name together with Yaniv Spielberg, Bragg’s Chief Technique Officer and Ronen Kannor, Bragg’s Chief Monetary Officer. The convention name is scheduled to happen on September 1, 2020, at 8:30 a.m. Jap Time. 

To affix the decision, please use the beneath dial-in data:
US/Canada: +1 270 215 9892
US/Canada (toll-free): +1 866 997 6681
UK: 0 2031070289 or 0 8000288438
Passcode: 3386968

A replay of the decision will probably be obtainable for seven days following the conclusion of the stay name. With the intention to entry the replay, dial +1 404 537 3406 or +1 855 859 2056 (toll-free) and use the passcode 3386968.

About Bragg Gaming Group
Bragg Gaming Group Inc. (TSXV:BRAG, OTC:BRGGF) is an revolutionary B2B on-line gaming resolution supplier.  Leveraging their industry-leading expertise, it gives a turnkey resolution, together with an omni-channel retail, on-line and cellular iGaming platform, in addition to superior on line casino content material aggregator, sportsbook, lottery, advertising and marketing and operational companies. Famend for its fast and seamless integration, its content material aggregator combines on line casino, slots, stay seller, lottery, digital sports activities and instant-win recreation content material from high tier gaming content material suppliers, together with proprietary content material, and is totally compliant with main regulated jurisdictions.

Capitalizing on its present portfolio and thru focused acquisitions, Bragg is targeted on turning into a pacesetter inside the evolving world gaming {industry}. Be taught extra at https://www.bragg.video games.

For Bragg Gaming Group, contact:
Yaniv Spielberg, CSO, Bragg Gaming Group Inc.
+1-647-800-2282
[email protected] games

For media enquiries or interviews, please contact:
Lina Sennevall, Sq. within the Air
[email protected]

For investor inquiries, please contact:
Tim Dawson, Bragg Gaming Group Inc.
+1-289-276-1167
[email protected] games

For US investor inquiries, please contact:
Laine Yonker, Edison Group
+1-646-653-7035
[email protected]

Cautionary Assertion Concerning Ahead-Wanting Data

This information launch might comprise forward-looking statements or “forward-looking data” inside the that means of relevant Canadian securities legal guidelines (“forward-looking statements”). Usually, however not at all times, forward-looking statements could be recognized by means of phrases equivalent to “plans”, “expects” or “doesn’t count on”, “is predicted”, “funds”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “doesn’t anticipate”, or “believes”, or describes a “objective”, or variation of such phrases and phrases or state that sure actions, occasions or outcomes “might”, “may”, “would”, “may” or “will” be taken, happen or be achieved.

All forward-looking statements mirror the Firm’s beliefs and assumptions primarily based on data obtainable on the time the statements had been made. Precise outcomes or occasions might differ from these predicted in these forward-looking statements. All the Firm’s forward-looking statements are certified by the assumptions which can be acknowledged or inherent in such forward-looking statements, together with the assumptions listed beneath. Though the Firm believes that these assumptions are affordable, this record just isn’t exhaustive of things that will have an effect on any of the forward-looking statements. The important thing assumptions which have been made in reference to the forward-looking statements embrace the next: the influence of COVID-19 on the enterprise of Bragg; the countercyclical development of the enterprise of Bragg; the regulatory regime governing the enterprise of Bragg;  the operations of the Firm; the services of the Firm; Bragg’s prospects; acquisition alternatives; the expansion of Bragg’s enterprise, which might not be achieved or realized inside the time frames acknowledged or in any respect; and the anticipated dimension and/or income related to the gaming market globally.

Ahead-looking statements contain recognized and unknown dangers, future occasions, circumstances, uncertainties and different elements that will trigger precise outcomes, efficiency or achievements to be materially totally different from any future outcomes, prediction, projection, forecast, efficiency or achievements expressed or implied by the forward-looking statements. Such elements embrace, amongst others, the next: dangers related to basic financial circumstances; adversarial {industry} occasions; future legislative and regulatory developments; the lack to entry enough capital from inside and exterior sources; the lack to entry enough capital on favorable phrases; realization of development estimates, revenue tax and regulatory issues; the power of Bragg to implement its enterprise methods; competitors; financial and monetary circumstances, together with volatility in curiosity and trade charges, commodity and fairness costs; the estimated dimension of the gaming market globally; modifications in buyer demand; disruptions to our expertise community together with pc programs and software program; pure occasions equivalent to extreme climate, fires, floods and earthquakes; and dangers associated to well being pandemics and the outbreak of communicable illnesses, equivalent to the present outbreak of COVID-19.

Though the Firm has tried to establish vital elements that would trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking statements, there could also be different elements that trigger actions, occasions or outcomes to not be as anticipated, estimated or supposed. There could be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Accordingly, readers mustn’t place undue reliance on forward-looking statements.

Any forward-looking assertion made by the Firm on this information launch or the earnings name relies solely on data at the moment obtainable to the Firm and speaks solely as of the date on which it’s made. Besides as required by relevant securities legal guidelines, the Firm nor any of its administration or administrators undertake no obligation to publicly replace any forward-looking assertion, whether or not written or oral, which may be made every now and then, whether or not because of new data, future developments or in any other case.

Non-IFRS Monetary Measures

Statements on this information launch make reference to “Adjusted EBITDA”, which is a non-IFRS (as outlined herein) monetary measure that the Firm believes is acceptable to supply significant comparability with, and to boost an total understanding of, the Firm’s previous monetary efficiency and prospects for the long run. The Firm believes that “Adjusted EBITDA” gives helpful data to each administration and traders by excluding particular bills and objects that administration imagine are usually not indicative of the Firm’s core working outcomes. “Adjusted EBITDA” is a monetary measure that doesn’t have a standardized that means underneath Worldwide Monetary Reporting Requirements (“IFRS“). As there isn’t any standardized technique of calculating “Adjusted EBITDA”, it might not be immediately comparable with equally titled measures utilized by different firms. The Firm considers “Adjusted EBITDA” to be a related indicator for measuring traits in efficiency and its capacity to generate funds to service its debt and to satisfy its future working capital and capital expenditure necessities. “Adjusted EBITDA” just isn’t a typically accepted earnings measure and shouldn’t be thought-about in isolation or as a substitute for internet revenue (loss), money flows or different measures of efficiency ready in accordance with IFRS.

Neither TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this information launch.

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* Adjusted EBITDA – excludes revenue or bills that relate to distinctive objects and non-cash share-based prices

 For ease of reference, we current the monetary ends in CAD at right now’s trade price of €1 = C$1.56

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