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TORONTO - Bragg Gaming Group (NASDAQ:BRAG, TSX:BRAG), a gaming technology company with a market capitalization of $104.62 million and impressive gross profit margins of 54.44%, has signed an agreement with Hard Rock Digital to develop exclusive online casino games for Hard Rock Bet Casino, according to a press release statement.
The new deal expands on the existing partnership between the companies, with Hard Rock Bet Casino already offering content from Bragg’s studios including Wild Streak Gaming, Atomic Slot Lab, and Indigo Magic.
The exclusive titles will initially launch in New Jersey, with potential expansion to additional markets where Hard Rock Bet operates in the future.
"This enhanced partnership highlights our focus on growing our footprint as a key online casino supplier in the U.S.," said Garrick Morris, SVP Commercial, U.S. & Canada for Bragg.
Rich Criado, VP of Casino at Hard Rock Digital, noted that the upcoming exclusive games "are designed to stand out among the over 2,900 titles already available on Hard Rock Bet Casino."
The partnership is expected to accelerate Bragg’s expansion in the U.S. market, which the company anticipates will be its fastest-growing region this year.
Bragg Gaming Group provides iGaming content and technology solutions to online and land-based gaming operators, with operations in over 30 regulated markets globally, including the U.S., Canada, Latin America, and Europe.
In other recent news, Bragg Gaming Group announced a revenue of €25.5 million for the first quarter, reflecting a 7.1% year-over-year increase. The company’s Adjusted EBITDA also rose significantly by 19.7% to €4.1 million. Analysts at Benchmark maintained their Buy rating with a $6.00 price target, highlighting the company’s operating leverage and margin expansion. Additionally, Bragg Gaming has secured a new $6 million Senior Secured Revolving Credit Facility to support growth initiatives, after repaying $5 million of its existing $7 million promissory note. The remaining $2 million of the note has been extended to June 6, 2025, with expectations of better borrowing terms. In leadership changes, Holly Gagnon has been appointed as the new Chair of the Board of Directors, succeeding Matevž Mazij, who continues as CEO. JMP analysts reiterated a Market Outperform rating, citing the stock’s undervaluation compared to industry standards. Furthermore, Bragg Gaming is negotiating improved credit terms to enhance its financial agility. These developments underscore the company’s strategic focus on growth and financial restructuring.
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