This week, international B2B gaming technology and content provider Bragg Gaming Group released its fiscal fourth quarter and annual figures that ended December 31, 2021. In the fourth quarter of 2021, this gaming leader posted an improvement in revenue from the previous quarter’s performance, raising it to $17.5 million.
Bragg Gaming Group is a global gaming technology content giant in the iGaming industry operating in major markets in Europe, North America and Latin America. The company provides content through its wholly owned subsidiary ORYX Gaming, and most recently has been granted permission from the Ontario Alcohol and Gaming Commission to enter the new regulated iGaming market.
Despite an increase in revenue in the fourth quarter of 2021, the company reported a 8.8% drop in customer bets to $3.4 billion. In contrast, large companies reported $3.8 billion in the fourth quarter of 2020. This has resulted in improved total revenue and adjusted EBITDA in relation to changes in product mix for player account management, managed services, and proprietary content.
Gross profit for the fourth quarter of last year was $8.9 million, an impressive 33.3% increase from $6.7 million in the fourth quarter of 2020, while net loss for the period was $1.8 million, down from $5.9 million in the fourth quarter of 2020. This is explained by the increase and decrease in gross profit costs associated with outstanding payments.
In addition, regarding its full-year financial performance in 2021, Bragg Gaming Group reported revenue of $64.7 million, up 25.6% from $51.4 million a year earlier, and a significant improvement in the size of consumers’ bets in 2021, up 21.1% from their 2020 earnings of $13.3 billion.
In addition, the number of unique players on the ORYX Hub distribution platform and content increased 11.2% to 6.5 million, compared to just 5.9 million in 2020, and gross profit of $31.4 million in 2021, up 40.3% from the reported US$22.4 million in 2020.
This week, Bragg Gaming Group also announced that it has been licensed to participate in Ontario’s new iGaming and sports betting markets. The state’s new gaming scheme opens on April 4, 2022, and the company has joined several other gambling brands currently in the market. These include the poker world series, point bets, rivalry, score, 888 and most recent one – fan united.
The news of global game leaders doesn’t stop here. Most recently, it announced an agreement to expand across Spain’s regulatory market. The company will be accomplished by integrating world-class gaming content with the 888 casino, which is the industry’s leading brand and also part of the 888 Holding plc. Soon, local players will be able to take advantage of ORYX Gaming’s RGS portfolio, Atomic Slot Lab, and Blue Guru titles.
BY: 바카라사이트