The Toronto-based iGaming content and platform technology solutions provider, Bragg Gaming Group, announced its preliminary unaudited results for the 2024 fiscal year, which ended on December 31. The company also highlighted projections for this year, featuring a double-digit uptick in revenue.
According to a statement, the results are based on information currently available to management. The company also issued financial guidance for 2025, focusing on certain strategic initiatives.
The company anticipates full-year 2024 revenue to reach no less than EUR 102 million or $106.2 million USD. With Adjusted EBITDA of not less than EUR 15.4 million or $16 million USD or 1% increase from EUR 15.2 million, or $15.8 million USD for 2023, this is a 9% increase from EUR 93.5 million, or $97.2 million USD for 2023.
We project revenue for the year ending December 31, 2025, to reach between EUR 117.5 million and EUR 123.0 million. This is between $122.4 million USD and $128 million USD. This represents double-digit growth when compared to the anticipated 2024 revenue. We project adjusted EBITDA to range between EUR 19.0 million and EUR 21.5 million. As the company moves more towards higher-margin product offerings, this is between $19.7 million USD and $22.4 million USD.
Bragg‘s CEO, Matevž Mazij, said he is pleased with where they expect 2024 results to land. He is also excited about the strong growth trajectory outlined in their 2025 guidance. Their strategic investments in proprietary and exclusive content, along with various data, player journey, and AI-enhanced engagement features, are set to drive growth in 2025. By focusing on margin-accretive products, they are positioning themselves to boost both revenue and profitability. They are also pursuing opportunities in key markets like Brazil and the United States.
So far, it has been an active year for Bragg. A few weeks back Bragg announced the company was now live in the newly opened Brazil market with its product.
