{"id":140,"date":"2024-06-16T03:47:58","date_gmt":"2024-06-16T00:47:58","guid":{"rendered":"https:\/\/ozwincasinonodepositbonus.icu\/2024\/06\/16\/bragg-gaming-group-reports-strong-q3-2022-results-driven-by-revenue-and-profit-growth\/"},"modified":"2024-06-17T13:24:07","modified_gmt":"2024-06-17T10:24:07","slug":"bragg-gaming-group-reports-strong-q3-2022-results-driven-by-revenue-and-profit-growth","status":"publish","type":"post","link":"https:\/\/ozwincasinonodepositbonus.icu\/2024\/06\/16\/bragg-gaming-group-reports-strong-q3-2022-results-driven-by-revenue-and-profit-growth\/","title":{"rendered":"Bragg Gaming Group Reports Strong Q3 2022 Results Driven by Revenue and Profit Growth"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/K7NxV6-5eRc\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Bragg Gaming Group witnessed a substantial 62% revenue upswing in the third quarter of 2022, attaining \u20ac20.9 million (roughly $21.2 million). This notable expansion was propelled by a considerable rise in player bets, which escalated to \u20ac4.6 billion contrasted with \u20ac3.2 billion in the corresponding timeframe last year. This wagering surge underscores the effectiveness of Bragg&#8217;s strategic pivot towards all-encompassing client management solutions and proprietary content.<\/p>\n<p>This strategic realignment has not only driven income expansion but also significantly enhanced Bragg&#8217;s profitability.  Gross earnings for the quarter saw a remarkable 58% leap, hitting \u20ac10.4 million, yielding a robust gross margin of 50%.  Although the company posted a net loss of \u20ac2 million for the quarter, this signifies an advancement from the \u20ac2.5 million loss documented in the parallel period the previous year.  Moreover, adjusted EBITDA exhibited strong gains, climbing by 52% year-on-year to reach \u20ac2.2 million, with a healthy adjusted EBITDA margin of 10.7%.<\/p>\n<p>Bragg&#8217;s financial robustness is further emphasized by its strong cash holdings.  As of September 30, 2022, the firm possessed \u20ac17.2 million in cash and cash equivalents, strengthened by the \u20ac8.3 million net influx from a convertible bond offering in September.<\/p>\n<p>Yaniv Sherman, Chief Executive Officer of Bragg, conveyed his contentment with the company&#8217;s achievements, remarking, &#8220;Our exceptional third-quarter outcomes, with substantial year-over-year increments in revenue, gross earnings, and Adjusted EBITDA, underscore the continuous advancements we have made in furnishing our expanding clientele across global regulated iGaming markets, encompassing North America, with captivating content and services.&#8221; <\/p>\n<p>Significant strategic progress has been achieved, with a focus on initiatives such as developing exceptional proprietary content, securing exclusive distribution agreements for sought-after games, and broadening our presence into untapped markets and consumer segments. The Netherlands serves as a prime illustration of this success, where we established a strong foothold by collaborating with multiple operators and rapidly ascending to a position of market dominance.<\/p>\n<p>Furthermore, we have significantly bolstered our capabilities by fully integrating Wild Streak Gaming and Spin Games into our organization. These acquisitions, coupled with the establishment of two new internal game development studios, have been instrumental in optimizing our operations and transforming Bragg into a truly global force in the gaming industry.&#8221; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bragg Gaming Group witnessed a substantial 62% revenue upswing in the third quarter of 2022, attaining \u20ac20.9 million (roughly $21.2 million). This notable expansion was propelled by a considerable rise in player bets, which escalated to \u20ac4.6 billion contrasted with \u20ac3.2 billion in the corresponding timeframe last year. This wagering surge underscores the effectiveness of [&hellip;]<\/p>\n","protected":false},"author":99,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bragg Gaming Group Reports 62% Revenue Surge in Q3 2022<\/title>\n<meta name=\"description\" content=\"Discover how Bragg Gaming Group achieved a remarkable 62% revenue jump in Q3 2022, driven by a surge in player bets and strategic initiatives. 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