Bragg Gaming Group announced record-breaking revenue for the second quarter of 2024, reaching EUR 24.9 million. This performance highlights the company’s success in expanding its reach across various iGaming markets and product lines.
- Bragg achieved EUR 24.9 million in revenue for Q2 2024, a 0.5% increase from the previous year.
- Gross profit for the quarter was EUR 12.4 million, which is a 10.3% decline year over year.
- Adjusted EBITDA came in at EUR 3.6 million, down 23.8% compared to Q2 2023.
- The company reported an operating loss of EUR 1.2 million, a significant drop from a EUR 1.3 million profit last year.
- Despite these challenges, Bragg saw sequential growth in revenue, gross profit, and adjusted EBITDA compared to Q1 2024.
- Bragg has been expanding in the U.S., with plans to double wagering volume in 2024 compared to 2023.
- The company launched 17 new games globally in Q2, with 12 from its proprietary studios.
- Bragg also secured new partnerships, including powering Kingsbet.cz in the Czech Republic.
- The company continues to expand in Europe, partnering with major operators like Sisal in Italy.
- Bragg remains confident in its ability to meet its full-year revenue and EBITDA guidance, despite currently tracking at the lower end of projections.
