Bragg Gaming Group, the Canadian company that supplies technology and content for online casinos, has announced its financial results for the second quarter of 2023 and the numbers show a significant increase in revenue.
The Canadian company recorded a 19 percent rise in revenue during the second quarter of 2023 to a total of 24.7 million euros. The wagering volume, or handle, which is generated by the vast portfolio of games offered by Bragg Gaming, rose to a total of 5.5 billion euros, dwarfing the 4.2 billion euros that were recorded in the same quarter of 2022.
Bragg Gaming also recorded an increase of 19 percent year-on-year when it comes to grass profit, which amounted to 13.8 million euros. The figure which saw the largest increase was the company’s adjusted earnings before interest, tax, depreciation and amortization (EBITDA), which went up by no less than 51 percent to a total of 4.7 million euros.
Speaking about the results, Yaniv Sherman, the Chief Executive Officer of Bragg Gaming Group, explained that the numbers reflect the company’s “shift towards a revenue mix of higher-margin products including in-house created proprietary and exclusive third-party content, turn-key Player Account Management (“PAM”) and managed services partnerships.”
The Bragg Gaming Group CEO also pointed out that the adjusted EBITDA from the second quarter of 2023 represents “an all-time quarterly record” for the Canadian company.