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Bragg Gaming Group Inc (BRAG)
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Upturn Advisory Summary
01/09/2026: 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 $8.07
1 Year Target Price $8.07
| 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 01/09/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 56.75M USD | Price to earnings Ratio - | 1Y Target Price 8.07 |
Price to earnings Ratio - | 1Y Target Price 8.07 | ||
Volume (30-day avg) 6 | Beta 0.48 | 52 Weeks Range 1.95 - 6.12 | Updated Date 01/9/2026 |
52 Weeks Range 1.95 - 6.12 | Updated Date 01/9/2026 | ||
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 - | When - | Estimate - | Actual - |
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 61768386 | Price to Sales(TTM) 0.54 |
Enterprise Value 61768386 | Price to Sales(TTM) 0.54 | ||
Enterprise Value to Revenue 0.5 | Enterprise Value to EBITDA 3.87 | Shares Outstanding 25449478 | Shares Floating 18135807 |
Shares Outstanding 25449478 | Shares Floating 18135807 | ||
Percent Insiders 28.75 | Percent Institutions 5.7 |
Upturn AI SWOT
Bragg Gaming Group Inc
Company Overview
History and Background
Bragg Gaming Group Inc. (TSX-V: BRAG, NASDAQ: BRAG) was founded in 2004 as a software and technology company, initially focused on online gaming. Over the years, it has undergone significant transformation, pivoting to become a leading B2B provider of gaming technology, content, and managed services for the global iGaming industry. Key milestones include strategic acquisitions and expansion into regulated markets. In 2021, the company rebranded from "Catalyst Technology Group" to "Bragg Gaming Group" to better reflect its evolved business.
Core Business Areas
- Platform and Technology: Bragg provides a robust iGaming platform and proprietary technology solutions that enable operators to launch and manage their online casino operations. This includes player account management, payments, and responsible gaming tools.
- Content and Games: The company develops and distributes a portfolio of high-quality casino games through its own studios (e.g., Atomic Fusion, Indigo Magic) and via its third-party GameHub aggregator. This content is a key differentiator.
- Managed Services: Bragg offers comprehensive managed services, including marketing, customer support, and regulatory compliance, allowing operators to outsource complex operational functions.
Leadership and Structure
Bragg Gaming Group is led by a management team with extensive experience in the gaming and technology sectors. The company operates through various subsidiaries and divisions, each focusing on specific aspects of its B2B offerings, including content studios, technology platforms, and distribution.
Top Products and Market Share
Key Offerings
- Market Share Data:
- Number of Users:
- Product Name 1: Bragg Hub (Aggregator Platform): A comprehensive platform that aggregates games from Bragg's own studios and third-party game providers. It allows operators to seamlessly integrate and offer a wide variety of games to their players. Competitors include Evolution Gaming (for live casino), Scientific Games (SG Digital), and Playtech.
- Revenue:
- Market Share Data:
- Number of Users:
- Product Name 2: Proprietary Casino Games: Bragg develops and distributes a diverse range of video slots and other casino games through its in-house studios. These games are known for their engaging mechanics and themes. Competitors are numerous, including NetEnt (part of Evolution Gaming), Microgaming, Pragmatic Play, and Play'n GO.
- Revenue:
Market Dynamics
Industry Overview
The global iGaming industry is experiencing robust growth, driven by increasing internet penetration, mobile device adoption, and the legalization of online gambling in new jurisdictions. The market is highly competitive, with a constant demand for innovative game content and reliable technology platforms.
Positioning
Bragg Gaming Group is positioned as a leading B2B supplier, providing end-to-end solutions for iGaming operators. Its strength lies in its technology platform, diverse game portfolio, and focus on regulated markets, which differentiates it from pure game developers or platform providers.
Total Addressable Market (TAM)
The global online gambling market is valued in the hundreds of billions of dollars and is projected to continue growing. Bragg Gaming Group, by focusing on the B2B segment, targets a significant portion of this TAM by serving operators who then reach end-users. Its positioning is strong within its niche, but it competes for operator business against larger, established players.
Upturn SWOT Analysis
Strengths
- Proprietary game development studios with a growing portfolio.
- Robust and scalable iGaming platform.
- Strong presence in regulated European markets and expanding into North America.
- Experienced management team.
- Agile business model allowing for quick adaptation to market trends.
Weaknesses
- Relatively smaller market share compared to industry giants.
- Dependence on key partners for distribution.
- Brand recognition among end-users is limited as it's a B2B provider.
- Potential for intense competition to impact pricing power.
Opportunities
- Expansion into new regulated markets (e.g., US states, Canada).
- Acquisition of new game studios or technology providers.
- Increased demand for regulated online gambling solutions.
- Leveraging data analytics for personalized player experiences.
- Partnerships with major land-based casinos looking to enter online space.
Threats
- Increasing regulatory scrutiny and potential changes in gambling laws.
- Intense competition from established and emerging players.
- Cybersecurity risks and data breaches.
- Economic downturns affecting consumer spending on entertainment.
- Rapid technological advancements requiring continuous investment.
Competitors and Market Share
Key Competitors
- Evolution Gaming Group (EVO)
- Playtech (PTEC)
- Scientific Games (SGMS - now Light & Wonder, LNW)
Competitive Landscape
Bragg Gaming Group benefits from its diversified offering (platform, content, services) and focus on regulated markets. However, it faces significant competition from larger, more established players with broader game portfolios and longer track records. Its ability to secure new operator deals and develop popular games is crucial for maintaining and growing its competitive position.
Major Acquisitions
Spinlogic Gaming
- Year: 2021
- Acquisition Price (USD millions):
- Strategic Rationale: Acquisition to bolster its proprietary content portfolio and expand its in-house game development capabilities.
Wild Games
- Year: 2021
- Acquisition Price (USD millions):
- Strategic Rationale: Acquisition to enhance its content offering and further diversify its game portfolio.
Incentive Games
- Year: 2023
- Acquisition Price (USD millions): 15
- Strategic Rationale: Acquisition to strengthen its player engagement offerings and expand its product suite with innovative features.
Growth Trajectory and Initiatives
Historical Growth: Bragg Gaming Group has demonstrated consistent historical growth, driven by strategic acquisitions, expansion into new regulated markets, and the development of its proprietary content and platform.
Future Projections: Future projections are typically guided by analyst estimates, which would consider ongoing market trends, regulatory developments, and the company's strategic initiatives. These projections often anticipate continued revenue growth and a path towards sustained profitability.
Recent Initiatives: Recent initiatives include expanding its presence in North America (particularly the US and Canada), launching new games from its in-house studios, and forging strategic partnerships with new operators and distributors.
Summary
Bragg Gaming Group is a well-positioned B2B provider in the growing iGaming industry, leveraging its platform and proprietary content. Its strengths lie in its focus on regulated markets and agile development. However, it faces intense competition from larger players and requires continuous innovation and strategic expansion to gain significant market share. Key areas to watch are its successful entry into the North American market and its ability to integrate acquisitions effectively.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Bragg Gaming Group Investor Relations
- SEC Filings (Form 10-K, 10-Q)
- Industry Analysis Reports
- Financial News Outlets
Disclaimers:
This JSON output is an aggregation of publicly available information and should not be considered financial advice. Numerical data, especially financial metrics and market share, is subject to change and requires verification with the latest official company reports. Market share figures are estimates and can vary depending on the source and methodology.
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 has a strategic partnership with Golden Whale Productions for the development of artificial intelligence powered gaming solutions. 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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