Bragg Gaming Group is once more demonstrating its commitment to growing its brand across numerous markets, as the iGaming aggregator and provider of content obtains a new license. This time, the Ontario firm has acquired a business-to-business remote gambling license in Gibraltar. The territory is a major hub and centre for a number of top casino, lottery, and bingo operators.
It should be mentioned that the company is a major content-driven iGaming technology provider, which offers its product to both digital and brick-and-mortar operators. Supplying them with proprietary and exclusive games and innovative tech. It is licensed to operate in numerous regulated markets including leading ones such as Ontario, New Jersey, and Pennsylvania.
Gibraltar Entry Means Broader Exposure
Via its B2B remote gambling permit, the prominent supplier of iGaming content will be able to partner up with numerous locally licensed operators in the British overseas territory. Currently, Gibraltar is home to numerous tier-one casinos, sportsbook, bingo, and lottery operators, including domestic names such as Entain, 888, William Hill, bet365 and Lottoland.
By obtaining its license in Gibraltar, the company is able to continue following its strategy to expand in regulated global markets and widen its exposure to its growing product portfolio. At the moment, the supplier touts B2B licenses in the UK, Malta, Romania, Sweden, Belgium, and Greece, as well as four U.S. jurisdictions and one in Ontario in Canada.
The company has plans of becoming a leading content-driver B2B provider for online casino content and it recently reported that its revenue increased by 18.9% in the second quarter of 2023 to US$27.2 million, in comparison to the same quarter of 2022. In the meantime, wagering proceeds produced by the company’s games and content increased to US$6.1 billion.
Additionally, the gaming provider saw an increase in gross profits by 18.9% of US$15.2 million from US$12.8 million in the same quarter of last year. This translated to gross profit margin of 55.9%. Also, net income for the quarter was US$0.4 million, which was also an improvement from US$0.1 million over the same quarter but from the last calendar year.
Lara Falzon, President and CEO of the corporation commented on the recent achievement by saying that Gibraltar is an important jurisdiction which houses both UK and international firms. In her words, the license would allow to company to further expand its operations in key legal marketplaces by inking new partnerships with some of the industry’s leading operators.
Powering FanDuel
At the start of August, Bragg Gaming Group also struck a massive partnership with FanDuel, which is one of the largest gambling operators in North America. Via the deal, the supplier launched its portfolio with the company in Michigan and Connecticut. Players of the operator in the two territories now have access to some of the provider’s leading titles.
Source: “Bragg Gaming Secures Gibraltar B2B Remote Gambling License” Bragg Gaming Group, September 5, 2023
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