- Significant insider buying indicates management's conviction in
undervalued shares
- Reiterates Strong 2025 Outlook: double-digit revenue growth,
expanding profit margins, and increased operational leverage – with
formal guidance to be issued in early 2025
- Strategic growth and liquidity initiatives remain key
priorities following review conclusion
Bragg Gaming Group Inc. (NASDAQ: BRAG, TSX: BRAG) (“Bragg” or
the “Company”), a global B2B iGaming content and technology
solutions provider, announced today significant insider share
purchases demonstrating management's confidence in the Company's
undervalued shares, while reiterating expectations for strong 2025
performance including double-digit revenue growth, expanding profit
margins, and increased operational leverage, with formal guidance
to be issued in early 2025. Bragg also emphasized that strategic
growth and liquidity initiatives remain key priorities following
the Board’s Strategic Alternatives Process conclusion.
Matevž Mazij, Chief Executive Officer for Bragg, commented:
"The recent insider purchases by Bragg's management and board
underscore our confidence in the company's near-term potential. We
remain committed to creating shareholder value and liquidity
opportunities over the next year through strategic transactions, or
other value-enhancing initiatives. While the strategic review
process has concluded, our dedication to pursuing these objectives
heading into 2025 remains unchanged.
"Furthermore, the strategic review process provided invaluable
insights into the key factors potential acquirers prioritize when
crafting bids that accurately reflect our intrinsic value. We've
identified key focus areas, such as stronger cash generation,
increased revenue diversification, accelerated proprietary content
growth, and enhanced margins. These are tangible, actionable
targets that have been at the heart of our strategic initiatives,
and we believe are achievable under our 2025 plan.
"The alignment between management's insider purchases and our
strategic roadmap demonstrates that we're not just talking about
value creation – we're investing alongside our shareholders while
actively pursuing paths to enhanced liquidity. While the formal
review process has concluded, it has sharpened our focus on the
metrics that matter most. These concrete objectives, combined with
our ongoing commitment to explore opportunities that could provide
meaningful liquidity events for our investors, strengthen our
position. As insiders, we clearly see the potential to see this
value realized in 2025.”
Reiterates 2025 Outlook and Guidance Timeline
Bragg is actively advancing a robust pipeline of opportunities
that is anticipated to drive strong momentum as we enter 2025. The
outlook for 2025 remains positive, with expectations of sustained
double-digit top line growth, expanding bottom line margins, and
increased operational leverage, further strengthening Bragg’s
position in the market. Formal guidance is expected to be issued in
early 2025.
The preceding outlook constitutes forward-looking information
within the meaning of applicable securities laws, and is based on a
number of assumptions and subject to a number of risks.
Cautionary Statement Regarding Forward-Looking
Information
This news release contains forward-looking statements or
“forward-looking information” within the meaning of applicable
Canadian securities laws (“forward-looking statements”), including,
without limitation, statements with respect to the following: the
Company’s strategic growth initiatives and corporate vision and
strategy; financial guidance for 2024, expected performance of the
Company’s business; expansion into new markets, our strategy for
customer retention, growth, product development, and market
position; expected future growth and expansion opportunities;
expected benefits of transactions; expected future actions and
decisions of regulators and the timing and impact thereof.
Forward-looking statements are provided for the purpose of
presenting information about management’s current expectations and
plans relating to the future and allowing readers to get a better
understanding of the Company’s anticipated financial position,
results of operations, and operating environment. Often, but not
always, forward-looking statements can be identified by the use of
words such as “plans”, “expects” or “does not expect”, “is
expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”,
or describes a “goal”, or variation of such words and phrases or
state that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved.
All forward-looking statements contained in this news release or
the conference call reflect the Company’s beliefs and assumptions
based on information available at the time the statements were
made. Actual results or events may differ from those predicted in
these forward-looking statements. All of the Company’s
forward-looking statements are qualified by the assumptions that
are stated or inherent in such forward-looking statements,
including the assumptions listed below. Although the Company
believes that these assumptions are reasonable, this list is not
exhaustive of factors that may affect any of the forward-looking
statements. The key assumptions that have been made in connection
with the forward-looking statements include the regulatory regime
governing the business of the Company; the operations of the
Company; the products and services of the Company; the Company’s
customers; the growth of the Company’s business, meeting minimum
listing requirements of the stock exchanges on which the Company’s
shares trade; the integration of technology; and the anticipated
size and/or revenue associated with the gaming market globally.
Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors that may
cause actual results, performance or achievements to be materially
different from any future results, prediction, projection,
forecast, performance or achievements expressed or implied by the
forward-looking statements. Such factors include, among others, the
following: risks related to the Company’s business and financial
position; that the Company may not be able to accurately predict
its rate of growth and profitability; risks associated with general
economic conditions; adverse industry events; future legislative
and regulatory developments; the inability to access sufficient
capital from internal and external sources; the inability to access
sufficient capital on favourable terms; realization of growth
estimates, income tax and regulatory matters; the ability of the
Company to implement its business strategies; competition; economic
and financial conditions, including volatility in interest and
exchange rates, commodity and equity prices; changes in customer
demand; disruptions to our technology network including computer
systems and software; natural events such as severe weather, fires,
floods and earthquakes; any disruptions to operations as a result
of the strategic alternatives review process; and risks related to
health pandemics and the outbreak of communicable diseases.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements,
there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events, or otherwise, except in accordance with
applicable securities laws.
About Bragg Gaming Group
Bragg Gaming Group (NASDAQ: BRAG, TSX: BRAG) is an iGaming
content and turnkey technology solutions provider serving online
and land-based gaming operators with its proprietary and exclusive
content, and cutting-edge technology. Bragg Studios offer
high-performing and passionately crafted casino game titles using
the latest in data-driven insights from in-house brands including
Wild Streak Gaming, Atomic Slot Lab and Indigo Magic. Its
proprietary content portfolio is complemented by a cross section of
exclusive titles from carefully selected studio partners under the
Powered By Bragg program. Games built on Bragg’s remote games
server (Bragg RGS) technology are distributed via the Bragg Hub
content delivery platform and are available exclusively to Bragg
customers. Bragg’s flexible, modern, omnichannel Player Account
Management (PAM) platform powers multiple leading iCasino and
sportsbook brands and at all points is supported by expert in-house
managed, operational, and marketing services. Content delivered via
the Bragg Hub either exclusively or from the Bragg aggregated games
portfolio is managed from a single back-office which is supported
by powerful data analytics tools, and Bragg’s award-winning Fuze™
player engagement toolset. Bragg is licensed, certified, approved
and operational in many regulated iCasino markets globally,
including the U.S, Canada, United Kingdom, Italy, the Netherlands,
Germany, Sweden, Spain, Malta and Colombia.
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version on businesswire.com: https://www.businesswire.com/news/home/20241210210042/en/
For media enquiries or interview requests, please
contact: Robert Simmons, Head of Communications at Bragg Gaming
Group press@bragg.group Investors: James Carbonara Hayden IR
(646)-755-7412 james@haydenir.com
Bragg Gaming (NASDAQ:BRAG)
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