Bragg Gaming Group has voiced its confidence in reaching its 2025 targets after strategic changes, such as a reworked partnership with Caesars Entertainment, helped fuel record Q4 results.
Fourth quarter revenue rose 16.3 per cent year-on-year to €27.2m, helping overall 2024 revenue climb 9.1 per cent to €102m.
Gross profit was up 30.9 per cent in Q4 and 8.2 per cent across the full year to €15.8m and €54m, respectively.
Adjusted EBITDA in Q4 rose 60.1 per cent to €4.7m and increased 3.6 per cent for the full year to €15.8m.
Bragg said in January that it expects an upgraded relationship with Caesars to drive double-digit growth in revenue and profitability, especially in North America.
Caesars is now able to lease Bragg’s remote gaming server to create its own proprietary online casino games.
In making Caesars a technology partner as opposed to a supplier partner, Caesars has further options to licence the Bragg Hub product suite and Bragg’s Fuze player engagement platform.
Matevž Mazij, CEO of Bragg, said: “Our investments in proprietary content and AI-enhanced platform capabilities are driving both revenue growth and improved profitability.
“As we execute our strategic plan in key markets like Brazil and the US, we're leveraging our scalable platform and margin-accretive products to accelerate financial performance.
“The executive team we've assembled has already demonstrated their value through deals like our Caesars partnership, positioning Bragg for sustained revenue expansion and profit growth in 2025."
North America is set to contribute 15 per cent of Bragg’s 2025 revenue and Brazil 10 per cent.
The company expects 2025 revenue of between €117.5m and €123m, which would represent double-digit growth compared to 2024.
Bragg also expects adjusted EBITDA of between €19m and €21.5m, compared with €15.8m in 2024.
As well as North America and Brazil, Bragg is looking to expand its content distribution business in key European markets such as Italy, Spain, the UK and Sweden.
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