Bragg Gaming Group Reports Q2 Revenue Growth, Focus on Margins and Strategic Initiatives

Bragg Gaming Group has reported a 4.9% increase in revenue for Q2 2025, reaching EUR 26.1 million. Despite challenges in the Netherlands, the company has focused on improving cash flow, integration, and margins, achieving EUR 2 million in annualized synergies from acquisitions. Bragg aims for a 20% Adjusted EBITDA Margin in H2 2025, prioritizing high-margin opportunities.

Bragg Gaming Group has announced its financial results for the second quarter of 2025, revealing a 4.9% increase in revenue to €26.1 million, up from €24.9 million in the same period last year [1]. The company's gross profit also climbed by 10.8% to €13.7 million, driven by proprietary content and expansion into the US and Brazil markets.

Despite challenges in the Netherlands, where the iGaming market gross gaming revenue declined by 25% year-to-date, Bragg has focused on improving cash flow, integration, and margins. The company achieved €2 million in annualized synergies from acquisitions, such as Spin Games and Wild Streak Gaming, which are aimed at enhancing margins in the second half of 2025 [2].

Bragg Gaming Group has made strategic moves to expand its market presence, including launching content with Fanatics Casino across the Tri-State area and signing an exclusive content development agreement with Hard Rock Digital. In Brazil, the company has strengthened its position in the newly regulated iGaming market through a strategic partnership and investment in local studio RapidPlay [3].

The company's leadership appointments, including Scott Milford as EVP, Group Content, and Luka Pataky as EVP, AI and Innovation, reflect its commitment to driving growth and innovation in its offerings. Bragg Gaming Group has revised its full-year 2025 revenue forecast to be between €106.0 million and €108.5 million, with an Adjusted EBITDA of €16.5 million to €18.5 million, reflecting a strategic shift towards higher-margin opportunities [1].

The company aims to achieve a 20% Adjusted EBITDA Margin in the second half of 2025, prioritizing high-margin opportunities over aggressive revenue expansion. This focus on margin and cash flow is a strategic response to increasing gaming taxes in key markets like Brazil, the Netherlands, and Romania [2].

References:
[1] https://gamingamerica.com/news/13916/bragg-gaming-group-posts-49-year-over-year-revenue-growth-for-q2-2025
[2] https://www.gurufocus.com/news/3061146/bragg-gaming-group-reports-second-quarter-2025-revenue-increase-49-over-the-second-quarter-of-2024-to-eur-261m-21-yearoveryear-revenue-growth-excluding-the-netherlands-proprietary-content-rev
[3] https://www.businesswire.com/news/home/20250814682305/en/Bragg-Gaming-Group-Reports-Second-Quarter-2025-Revenue-Increase-4.9-over-the-Second-Quarter-of-2024-to-EUR-26.1M-21-year-over-year-revenue-growth-excluding-The-Netherlands-Proprietary-Content-Revenue-up-44-year-over-year