Bragg Gaming Group Plans To List Its Shares On The Nasdaq Stock Market
Posted on April 7, 2021 | 10:41 am
Bragg Gaming Group, the fast-growing iGaming content supplier from Canada, continues its expansion plans with a new landmark: getting its shares listed on the Nasdaq Stock Market.
The Canadian company has filed an application to list its common shares on Nasdaq and will also ask for permission from its shareholders. The topic will be discussed at the annual general meeting which is scheduled to take place on 28 April.
The provider currently lists its shares on the Toronto Stock Exchange and will do that in the future as well. For the Nasdaq listing, the company has proposed a ration of at most one share for 15 shares. If a share consolidation will be required to meet Nasdaq requirements, then it would become effective at least five business days before the actual listing.
Bragg insisted that at this time there is no guarantee that the company will meet all of Nasdaq’s listing standards, so the whole thing might actually not go through.
A New CEO Takes Charge
Just one week before announcing its Nasdaq listing plans, Bragg Gaming made another very important announcement: it appointed Richard Carter as the company’s new Chief Executive Officer.
Carter, the former CEO of SBTech, will replace Adam Arviv, the founder of Bragg Gaming, who took charge as interim Chief Executive Officer in September 2020 because the business was not performing to expectations. The new chief executive will be in charge of the business from May 1st.
The new appointment continues Bragg’s recruitment streak which started in February with the addition of Lara Falzon, the former NetEnt chief financial officer, to the Canadian company’s board of directors. Falzon also was the chief financial officer of Red Tiger Gaming, which was acquired by NetEnt in 2019.
The set out its plans apply for a license in New York and New Jersey, markets that are expected to grow explosively in the future. Canada is also an important part of Bragg’s future plans, with Ontario preparing to liberalize its online gambling market in the near future.
The company’s plans for Canadian market will be supervised by Paul Godfrey, who was added to Bragg’s board of directors in January. The former Ontario Lottery and Gaming Corporation chairman has enough experience in this sector to guide the company’s efforts in Canada.