Bragg Gaming Group recently highlighted its performance when it comes to fiscal 2019, as well as the fourth quarter of the year. It came to an end on December 31, 2019 and the gaming leader made it clear that there was a 41-percent revenue growth when compared to the previous fiscal year. This was the first full year of gaming operation for Bragg Gaming Group.
The Toronto-based gaming leader was preparing for the official announcement of its financial achievements over the course of 2019. The time arrived for more details to be revealed, following a careful evaluation of the twelve months in question. If the year 2018 was ORYX Gaming’s first full year of operation, the year-on-year revenue growth would have amounted to 41 percent in 2019.
Financial Report
The total gaming revenue generated over the twelve months of operation reached CA$40.57 million with a gross profit amounting to CA$18.30 million. Dominic Mansour, Chief Executive Officer of Bragg Gaming Group, pointed out that fiscal 2019 was dedicated to rapid growth of the company, as ORYX Gaming inked many new collaborations for content distribution.
The fourth quarter of fiscal 2019 was also a successful one, as this is when Bragg Gaming Group achieved a clean positive EBITDA for the first time since its launch. It amounted to CA$1.83 million. Mr. Mansour made it clear that the company itself has many tools with which it is able to promote future partnerships and make the integration of its content a hassle-free task. ORYX Hub itself is among the rapidly growing platforms.
Fiscal 2019 witnessed some vital improvements to the gaming aggregation platform, enhancing analytics, as well as the player engagement tools that would aim to attract a wider crowd down the road. ORYX Gaming expanded its footprint and influence around the globe with new markets exploration and subsequently new players being attracted.
Everything Achieved
Mr. Mansour made it clear that many of Bragg Gaming Group’s partnerships are strategic ones that aim to position it well in the global online gaming field. Kambi inked a collaboration with the online gaming leader based in Ontario last year and this introduced Bragg Gaming to many US-based sports waging enthusiasts. Along with that, Bragg Gaming Group is also able to offer its casino products to a wider audience of individuals.
Seneca Gaming Corporation is among the beneficiaries of this sports wagering platform, as its three tribal casino venues offer it to their customers. It could be recalled that the summer months of 2019 witnessed in-person wagering launch in New York State and thousands of locals placed their first legal in-person wager. Bragg Gaming Group also issued more information on the definitive share purchase agreement with SN&CK Media Limited which was initially revealed on May 1.
Bragg Gaming Group announced its decision to sell its media division, part of which is GiveMeSport. The new agreement saw Bragg Gaming Group bag a total consideration of up to £400,000 amounting to a payment of £50,000 once the agreement was closed, as well as 10 percent of the gross revenues from the media division over the upcoming 21 months of operation.
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