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Bragg Gaming Group Reports Third Quarter 2019 Results
Enters the lucrative U.S. gaming market through recently announced partnership with Kambi Group and Seneca Gaming Corporation
Bragg Gaming Group has released its results for the third quarter ended September 30, 2019, achieving strong sequential revenue growth of 13 per cent over Q2 2019.
Third Quarter 2019 Results
In the third quarter, the Company delivered continued growth with revenue of CDN $10.0M, gross profit of CDN $4.3M, EBITDA of CDN $0.2M, and net loss from continuing operations of CDN $0.2M. These results culminated in strong performance for the first nine months of 2019 with revenue of CDN $28.0M, gross profit of CDN $12.6M, EBITDA of CDN $0.6M and net loss from continuing operations of CDN $7.6M.
Dominic Mansour, Bragg’s CEO, said: “We’ve made significant progress this quarter, with our focus on B2B with ORYX driving 30 per cent revenue growth compared to Q3 2018. This resulted in a significant improvement in ORYX’s gross profit and in-turn drove ORYX EBITDA to grow by over 300 per cent to CDN $1.2M.
“I am extremely pleased with the Company’s progression over the past quarter. We’ve proven that, with our modern technology and seamless integration process, we are able to expand our operator base at a significantly faster rate than the competition. I am particularly pleased that the strong momentum of operator launches experienced in the first half of the year continued into Q3 with the successful launch of 10 new operators. We expect this momentum to further accelerate throughout Q4 with more than 14 launches in the pipeline.”
US Market Entry
Bragg recently entered into a partnership with Kambi Group, a well-established provider of premium sports betting services with an extensive client base. Bragg will provide their casino services and unique player account management (PAM) along with Kambi’s sports betting services to operators worldwide, with an initial focus on the burgeoning US market.
This newly created partnership recently signed a deal with New York’s Seneca Gaming Corporation (SGC), which operates all of the Seneca Nation’s Class III gaming operations in western New York. The Bragg and Kambi teams will collaborate to provide SGC with a combination of their services and products across SGC’s three New York casinos.
“Our partnership with Kambi and the initial deal with Seneca are both huge stepping stones for Bragg as we commence operations in the U.S. and continue to expand our global reach,” noted Mansour. “Our strategic focus in the U.S. is to partner with tier-1 casinos and operators. I believe that this Seneca deal will be the first of many in the coming years, particularly as the legal landscape continues to mature.”
Strategic Review of Online Media Division
The strategic review of the online media divisions consisting of the GiveMeSport asset has continued through the second half of 2019, and the Board expects this to be completed in Q1 2020.
In the interim, Bragg continues to enhance the GMS platform in order to drive more volume. The relaunch of the GMS website was completed in July, and the site is now quicker, slicker, more intuitive, and has a lighter ad load. These improvements culminated in peak site traffic in October 2019, which were 46 per cent greater than October 2018, growing from 15.9M visitors to 23.3M organic visitors.
Directorate Changes
Bragg’s CFO, Akshay Kumar, has announced his intent to step down as Chief Financial Officer of the Company for personal reasons. Effective November 13, 2019, Steven Prowse will assume the role of Chief Financial Officer. Mr. Kumar will assist Mr. Prowse, ensuring a seamless transition.
Prowse is an industry veteran with over 10 years’ experience in the betting and gaming sector. He served as Group Finance Director for PartyGaming plc (later bwin.party), a gaming business listed on the London Stock Exchange, and was instrumental in M&A, including the acquisition of Foxy Bingo and the €2.1bn merger with bwin in 2011 where he continued as Group Finance Director.
Dominic Mansour said: “I would like to thank Akshay for his hard work and contributions to Bragg. Our team wishes him all the best for the future. We also look forward to welcoming Steven to the Bragg team and believe his expertise with M&A in the sector will be extremely valuable during this pivotal time for the Company.”
Steven Prowse said: “I am delighted to join Bragg at such an early and exciting point in its growth trajectory. Bragg has market-leading technology, products and people. As such, I see enormous potential for this business and am very much looking forward to being a part of that growth.”
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Expanse Studios (GMGI) Secures ISO/IEC 27001:2022 Certification
Expanse Studios, the iGaming division of Golden Matrix Group, Inc. (Nasdaq: GMGI), proudly announces its recent certification to the ISO/IEC 27001:2022 standard, which demonstrates globally leading data security standards.
This globally recognized certification reinforces the Group’s dedication to safeguarding confidential information, client trust, and strengthening its competitive position in the iGaming industry.
The ISO/IEC 27001:2022 standard establishes a rigorous framework for managing and protecting information security across all operations. By attaining this certification, Expanse Studios has implemented a comprehensive Information Security Management System (ISMS) that ensures the confidentiality, integrity, and availability of data. This certification goes beyond compliance and assures our clients and partners of our stringent security protocols, protecting against cyber threats and unauthorized access.
“Achieving the ISO/IEC 27001:2022 certification marks a significant milestone in Expanse Studios’ journey. This certification not only reinforces our security framework but also highlights our commitment to upholding the highest standards of trust and integrity for our clients and players worldwide.”, said Damjan Stamenkovic, CEO of Expanse Studios.
In an industry where information security is paramount, ISO/IEC 27001:2022 certification demonstrates Expanse Studios’ proactive stance on cyber risk management and adherence to international best practices. The certification process included comprehensive evaluations, audits, and stringent checks, all contributing to a secure environment that benefits our clients, players, and business partners.
ISO certification assures the clients that Expanse Studios operates with top-tier security mechanisms, solidifying the role of the GMGI entity as one of the most trusted and compliant partners in the iGaming sector.
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Almedia Hires 17 New Staff Fuelling Exponential Growth
– Powering the next generation of rewarded user acquisition –
Almedia, the data-driven platform engineering the future of mobile gaming user acquisition – today proudly announces a major hiring wave which includes over 17 people from leading global tech and gaming brands. The new hires are essential to Almedia’s ambitious strategy for achieving exponential growth across Europe and Northern America over the next 12 months.
The new team members will join an already established team, based in Berlin, with a current headcount of 80, supporting a global client base of mobile game developers and publishers. The expanded team joins established departments including product development, marketing, account management, fraud, and talent acquisition. The 17 new hires will drive Almedia’s core mission: elevating user acquisition to new heights and engineering the future of intelligent engagement.
Moritz Holländer, Chief Executive Officer and Founder at Almedia, commented: “Since 2020, we’ve been at the forefront of rewarded user acquisition, and our services and results are being embraced by the global mobile gaming industry, by companies such as Playtika, SuperPlay, Plarium, and Monopoly Go. Team Almedia is witnessing real-time exponential demand for its rewarded UA services, hence we have a robust scaleup roadmap in place to help us manage demand.”
He added: “What we’ve proudly achieved in four years is quite remarkable. With zero funding, a highly profitable organisation, we are humbled to be assembling a true dream team for the global mobile gaming industry. We are thrilled to welcome the latest waves of new hires to the team, which will help us to further establish our brand as the most credible, data-driven rewarded user acquisition company in the world.”
The new hires include
- Andrey Shilin, Lead Product Manager
- Holly Pickerell, Workplace and Culture Manager
- Sabina Halilovic, Fraud Analyst
- Alexander Rasch, Senior Finance Manager
- Alisson Paschoal Hausmann, Senior Mobile Developer
- Anthony Clement, SEO Manager
- April Chen, Senior Customer Success Manager;
- Benedikt Roth, Lead User Acquisition Google Ads Manager
- Caroline Sobkow, Talent Acquisition Partner
- Federica Stiscia, Senior Gaming Partnership Manager
- Marc Hammes, SEO Manager
- Mapa Vega, Senior Talent Acquisition Partner
- Pablo Herranz, Senior Talent Acquisition Partne
- Ravisankar Chinnam, Senior Frontend Developer
- Kutay Akalin, Data Scientist
- Aleksei Smagin, Junior Affiliate Specialist UA
- Neil Laverty, Senior Customer Success Manager
Almedia currently has a range of positions open across operations, talent, product, marketing and more. To learn more about careers at Almedia, visit the jobs section on the website.
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Huge Jackpot at King Billy Casino: C$3,658,306!
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