Bragg Gaming Group is on an ongoing quest to explore the online gaming space and make sure its gaming offerings are premium ones, able to meet players’ expectations. Recently the gaming leader unveiled more information regarding its financial performance over the fiscal quarter that came to an end on March 31, 2020. It marked a 44-percent surge in revenue.
Gaming expansion and seeking new partners is among the great goals of the leading gaming group based in Toronto. The end of every quarter is a special time, as it allows the company the chance to shed more light on the details surrounding its operation over the past three months of gaming. The most recent annual quarter came to an end on March 31, 2020.
44-Percent Revenue Surge
The three months in question covered the very beginning of this year and Bragg Gaming Group highlighted that the revenue growth marked over this first quarter was a noticeable one. There was a 44-percent increase in gaming revenue when compared to the group’s performance over the first quarter of 2019. Moreover, this quarter was also strong when it comes to the Adjusted EBITDA.
These first three months of the year witnessed a 100-percent increase of the Adjusted EBITDA when compared to the first quarter of fiscal 2019. Gaming revenue managed to reach CA$13.6 million over the course of the three months of this quarter. The first three months of 2019 witnessed a group gaming revenue of CA$9.4 million. In the meantime, the Adjusted EBITDA reached CA$1.2 million.
The gaming leader has achieved a lot over the past three months in question and the positive direction of development is visible in the recent collaborations and agreements inked. The three months in question saw new connections with gaming leaders around the globe. Gaming providers to the likes of Gamesys Group, SkillOnNet, Leon, CasinoSecret, and Hub88 are now teaming up with Bragg Gaming Group, eyeing great expansion.
Projections for 2020
These collaborations make it possible for both parties to expand their footprint in the global gaming field and reach many new online gaming enthusiasts. Upcoming months are projected to see many new collaborations. Progressive regions such as Europe and Latin America are in the plans for expansion Bragg Gaming Group has. About 20 new partners are currently in conversations with the gaming leader for future partnerships.
Projections regarding the second quarter of this fiscal year have also been listed. Bragg Gaming Group expects a gaming revenue increase of 30 percent when compared to the first quarter of this year. When it comes to the bigger picture, the gaming leader projects a 2020 gaming revenue of between CA$53.9 million and CA$58.5 million.
Now that the focus has shifted on more online-based gaming offerings and the positive improvement they could see, Bragg Gaming made it clear that it considers itself well-positioned for future growth in this direction. It has established relationships with global online gaming leaders to the likes of Leo Vegas, Mr. Green, and Online Casino Deutschland.
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