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Bragg Gaming Group Inc (BRAG)
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Upturn Advisory Summary
12/09/2025: BRAG (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
6 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $8.08
1 Year Target Price $8.08
| 2 | Strong Buy |
| 4 | Buy |
| 0 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -19.38% | Avg. Invested days 22 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/09/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 55.73M USD | Price to earnings Ratio - | 1Y Target Price 8.08 |
Price to earnings Ratio - | 1Y Target Price 8.08 | ||
Volume (30-day avg) 6 | Beta 0.52 | 52 Weeks Range 1.96 - 6.12 | Updated Date 12/9/2025 |
52 Weeks Range 1.96 - 6.12 | Updated Date 12/9/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.34 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-11-13 | When - | Estimate -0.07 | Actual -0.09 |
Profitability
Profit Margin -7.06% | Operating Margin (TTM) -2.95% |
Management Effectiveness
Return on Assets (TTM) -3.48% | Return on Equity (TTM) -11.07% |
Valuation
Trailing PE - | Forward PE 476.19 | Enterprise Value 61703822 | Price to Sales(TTM) 0.53 |
Enterprise Value 61703822 | Price to Sales(TTM) 0.53 | ||
Enterprise Value to Revenue 0.5 | Enterprise Value to EBITDA 3.87 | Shares Outstanding 25449478 | Shares Floating 18131226 |
Shares Outstanding 25449478 | Shares Floating 18131226 | ||
Percent Insiders 28.75 | Percent Institutions 5.71 |
Upturn AI SWOT
Bragg Gaming Group Inc
Company Overview
History and Background
Bragg Gaming Group Inc. (TSXV: BRAG, NASDAQ: BRAG) was founded in 2017. It has evolved through strategic acquisitions and organic growth to become a significant player in the online gaming content and technology sector. Key milestones include its listing on the TSX Venture Exchange, expansion into new regulated markets, and the acquisition of Oryx Gaming.
Core Business Areas
- iGaming Content and Platform: Bragg provides a comprehensive suite of online casino content, including proprietary games and games from third-party studios, delivered through its advanced gaming platform. This includes a comprehensive backend solution for managing and distributing games.
- Technology and Data Solutions: The company offers a proprietary player engagement platform and data analytics tools to help operators optimize their gaming businesses and enhance player experience.
- Managed Services: Bragg provides B2B services to gaming operators, including regulatory support, market access, and specialized solutions for specific markets.
Leadership and Structure
Bragg Gaming Group Inc. is led by a management team with extensive experience in the iGaming and technology sectors. The organizational structure is typically functional, with dedicated teams for product development, sales, marketing, operations, and compliance.
Top Products and Market Share
Key Offerings
- Proprietary Casino Games: Bragg develops and publishes a portfolio of branded and original slot titles. While specific market share for individual games is proprietary, their games are deployed across numerous online casinos globally. Competitors include NetEnt (part of Evolution Gaming), Microgaming, Playtech, and Pragmatic Play.
- Bragg Hub Platform: A comprehensive content aggregation and management platform that allows operators to access a wide range of games from Bragg and third-party suppliers. Market share data is not publicly disclosed but is a critical part of their B2B offering. Key competitors include platforms offered by EveryMatrix, Pariplay (part of Aspire Global), and SoftSwiss.
- Oryx Gaming Content and Platform: Following the acquisition of Oryx Gaming, Bragg gained access to their established portfolio of games and their proprietary technology solutions, further strengthening their content offering and market reach. Competitors are similar to those mentioned for proprietary games and the Bragg Hub Platform.
Market Dynamics
Industry Overview
The online gaming industry, particularly in regulated markets, is experiencing robust growth driven by increasing player adoption, technological advancements, and a shift towards mobile gaming. The market is highly competitive and subject to evolving regulations in various jurisdictions.
Positioning
Bragg Gaming Group Inc. positions itself as a leading iGaming content and technology provider, focusing on delivering high-quality games and a robust platform to licensed operators. Its competitive advantages lie in its proprietary content, its established B2B platform (Bragg Hub), and its expanding reach into regulated markets, particularly through its Oryx Gaming subsidiary.
Total Addressable Market (TAM)
The global online gambling market is projected to reach hundreds of billions of dollars in the coming years, with significant growth in online casino segments. Bragg Gaming Group Inc. is positioned to capture a share of this TAM by serving licensed operators in North America, Europe, and other regulated regions. Its strategy involves expanding its content library and platform capabilities to meet the diverse needs of these operators.
Upturn SWOT Analysis
Strengths
- Diverse portfolio of high-quality iGaming content
- Robust and scalable gaming platform
- Strong presence in regulated European markets
- Experienced management team
- Strategic acquisitions enhancing capabilities
Weaknesses
- Dependence on key markets and regulatory changes
- Smaller brand recognition compared to larger competitors
- Ongoing integration of acquired businesses
- Capital intensive nature of the industry
Opportunities
- Expansion into new regulated markets, especially North America
- Growth in mobile gaming and new game formats
- Partnerships with new and existing operators
- Further development of data analytics and player engagement tools
- Potential for additional strategic acquisitions
Threats
- Intense competition from established and emerging players
- Unfavorable regulatory changes or increased taxes
- Cybersecurity risks and data breaches
- Economic downturns affecting consumer discretionary spending
- Changes in player preferences
Competitors and Market Share
Key Competitors
- Evolution Gaming (EVO) - Primarily live casino but also slots.
- Playtech (PTEC) - Software for online casinos, poker, bingo.
- Scientific Games (SGMS) - Now Light & Wonder.
- IGT (IGT) - Gaming technology, slots, digital gaming.
- Aristocrat Leisure (ALL.AX) - Primarily land-based slots, expanding digital.
Competitive Landscape
Bragg Gaming Group Inc. operates in a highly competitive landscape dominated by larger, more established players. Its competitive advantages lie in its agility, focus on specific regulated markets, and a strong content aggregation platform. However, it faces challenges in matching the marketing budgets and brand recognition of industry giants. Its strategy of focused market entry and content diversification aims to carve out a significant niche.
Major Acquisitions
Oryx Gaming
- Year: 2021
- Acquisition Price (USD millions): 135
- Strategic Rationale: To significantly expand its content portfolio, gain access to Oryx's established operator relationships and proprietary technology, and bolster its presence in regulated European markets.
Growth Trajectory and Initiatives
Historical Growth: Bragg Gaming Group Inc. has demonstrated consistent historical growth, driven by strategic market entries and acquisitions like Oryx Gaming. This has expanded its product offering and geographical reach.
Future Projections: Analyst projections for Bragg Gaming Group Inc. typically anticipate continued revenue growth, driven by expansion into the North American market and ongoing product development. Profitability is expected to improve as the company achieves economies of scale and optimizes its operations. Specific projections vary among analysts.
Recent Initiatives: Recent initiatives include expanding its presence in the US market, securing new operator partnerships, launching new proprietary games, and enhancing its platform capabilities to meet the demands of regulated iGaming environments.
Summary
Bragg Gaming Group Inc. is a growing player in the iGaming content and technology sector, with a solid foundation in proprietary games and a robust content aggregation platform. Its strategic acquisitions have strengthened its market position, particularly in Europe, and it is now focusing on expansion into the lucrative North American market. The company faces intense competition and regulatory scrutiny, but its agile approach and expanding product offering provide a promising growth trajectory.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Bragg Gaming Group Inc. Investor Relations
- SEC Filings (10-K, 10-Q)
- Industry Research Reports
- Financial News Outlets
Disclaimers:
This analysis is based on publicly available information and is for informational purposes only. It does not constitute financial advice. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Bragg Gaming Group Inc
Exchange NASDAQ | Headquaters Toronto, ON, Canada | ||
IPO Launch date 2021-08-27 | CEO & Director Mr. Matevz Mazij | ||
Sector Consumer Cyclical | Industry Gambling | Full time employees 537 | Website https://bragg.group |
Full time employees 537 | Website https://bragg.group | ||
Bragg Gaming Group Inc. operates as an iGaming content and technology solutions provider serving online and land-based gaming operators with its proprietary and exclusive content. The company offers various games, including slot games, table games, card games, video bingo, scratch card games, virtual sports, and live dealer games. Its studios also provide crafted casino game titles using the data-driven insights from in-house brands, including Wild Streak Gaming, Atomic Slot Lab, and Indigo Magic; and its proprietary content portfolio is complemented by a cross section of exclusive titles from selected studio partners under the Powered By Bragg program. The company builds games on its own remote games server (RGS) technology that are distributed via the Bragg Hub content delivery platform and are available to the customers. Its proprietary player account management (PAM) technology powers various iCasino and sportsbook brands and is supported by in-house managed, operational, and marketing services. In addition, the company offers turnkey solutions; Fuze brand marketing toolset with Kingsbet.cz; and sportsbook technology through Altenar. It provides services to gaming operators in North America, including in the United States and Canada; in LatAM, Brazil, Mexico and Peru; and in Europe, such as Belgium, Croatia, Czech Republic, Germany, Greece, Italy, Portugal, Romania, Serbia, Spain, Sweden, Switzerland, and the United Kingdom. The company was formerly known as Rockies Financial Corporation and changed its name to Bragg Gaming Group Inc. in 2018. Bragg Gaming Group Inc. is headquartered in Toronto, Canada.
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