The Bragg Gaming Group Inc. (“BG Group” or the “Company”) (TSX:BLG), is pleased to report its results for the second quarter ended July 31, 2015. Revenues for the three-month period ended July 31, 2015 totalled $7.3 million which represents a year-over-year growth of $2.7 million or 49%. Gross profit was $4.6 million, a year-over-year increase of $1.2 million. Net income was $1.4 million, a year-over-year increase of $1.9 million. “We are very pleased with the progress we are making in the development of our digital gaming platform, as well as the excellent results
Bragg Gaming Group PLC (AIM:BRGG) announced today its unaudited results for the six month period from 31st December 2013 to 31st July 2014. The first half of 2014 has seen the Company’s results continue to demonstrate solid performance.
The Bragg Group, which operates Harrah’s, Caesars Entertainment and Horseshoe Baltimore, posted an adjusted loss of $20.3 million for the second quarter, lower than the $150.7 million loss in the same period a year ago. Adjusted earnings in the Harrah’s and Caesars segments were $22.1 million in the second quarter, compared with adjusted losses of $4.7 million in the same period last year. Revenue at the Harrah’s segment declined 8.4 percent to $1.56 billion. Revenue at Caesars was down 2.7 percent to $1.3 billion.. Read more about bragg gaming analysis and let us know what you think.
The financial results and highlights for the second quarter of 2021, which ended on June 30, 2021, were released on August 11, 2021 by a major B2B gaming technology and content supplier. The gaming aggregator claimed improved financial results over the three-month period, with revenue increasing by 28 percent to US$18.3 million.
Bragg Gaming Group is a fast-growing worldwide gaming technology and content business that also owns some of the industry’s top B2B enterprises. Since its start in 2018, the business has successfully expanded its operational radius throughout Europe, North America, and Latin America. In addition, the company continues to expand in the iGaming industry.
Results that are becoming better
The gaming business recorded a 27.6% rise in revenue to US$18.3 million in the second quarter of 2021. In the second quarter of 2020, those figures were US$14.3. Players’ wagering income increased by 15.9% to US$4.5 billion, up from US$3.9 billion in the previous quarter. The number of unique participants on the Oryx Hub platform has also grown by 21% to 2,300,000.
The business reported a 37.5 percent rise in gross profit to US$8.3 million in the second quarter of 2021, up from US$6.0 million in the second quarter of 2020, as well as greater sales and a 3.3 percent margin improvement to 45.4 percent. The continuing revenue shift towards a larger percentage of revenues from iGaming and turnkey services is primarily responsible for the margin increase.
The gaming provider recorded a net loss of US$2.8 million for the stated quarter, down from US$2.3 million in the same period in 2020. This is attributable to an increase in personnel expenses, as well as unusual professional fees as a consequence of the NASDAQ listing efforts, which were somewhat offset by higher gross profit and a decrease in cost to deferred consideration payable.
The business reported adjusted EBITDA of US$2.2 million, up 8.5 percent from US$2.1 million in the same period previous year. Due to increasing pay and subcontractor expenses as part of the Company’s investment in the growth of its software development, product, and management activities, adjusted EBITDA margin has fallen by 2.1 percent to 12.3 percent.
Information about the Purchase
The B2B supplier also announced in June that it had finalized the purchase of Wild Streak Gaming, headquartered in Las Vegas. The latter is a gaming content provider that has 39 premium slot games in its portfolio. The agreement was struck for approximately $30 million, with the content creator receiving around $10 million in cash and $20 million in common stock of the B2B business over the following three years.
Results from the first quarter
Bragg Gaming Group announced its financial results for the first quarter of this year in May. The business claimed a 62 percent rise in sales for the first quarter of this year compared to the first quarter of 2020. In addition, adjusted EBITDA has risen by 234 percent. In contrast to the previous quarter, the company recorded a 54 percent rise in unique gamers in the first quarter of this year.
Source: Bragg Gaming Group, “Bragg Gaming Group Announces Second Quarter 2021 Results,” August 11, 2021.
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