Bragg Gaming Group, a leading igaming content provider, has marked a significant milestone by launching its new proprietary content and Remote Games Server (RGS) technology with FanDuel Group in Michigan and Connecticut. This strategic move is part of an ongoing collaboration between the two companies, expanding the availability of Bragg’s engaging games to a broader player base.
Game Selection and Expansion Plans:
FanDuel’s players in both states now have access to an initial selection of games, including popular titles such as Atomic Slot Lab, Indigo Magic, and Spin Games. Bragg plans to enrich the gaming experience further by introducing additional games from its diverse portfolio, featuring Powered by Bragg partner studios like Bluberi, Incredible Technologies, Galaxy Gaming, Sega Sammy Creation, and King Show Games in the upcoming months.
North American Presence and Collaboration Success:
The extension of Bragg’s content with FanDuel in Michigan and Connecticut is emblematic of the company’s commitment to strengthening its North American presence. The successful partnership is already evident through the existing availability of Bragg’s Spin Games content with FanDuel in New Jersey and Ontario. Notably, the company initiated the rollout of its latest Bragg Studios content with FanDuel in Ontario in June, emphasizing a strategic and phased approach to collaboration.
Expansion with Rush Street Interactive:
In addition to the collaboration with FanDuel, Bragg Gaming Group has expanded its footprint by launching its new content and technology with Rush Street Interactive (RSI) in Pennsylvania. This multi-faceted approach reflects Bragg’s dedication to providing leading iGaming operators with innovative games, fostering consistent, long-term growth.
CEO Perspective and Future Outlook:
Yaniv Sherman, Chief Executive Officer for Bragg Gaming Group, expressed enthusiasm about increasing their North American presence and delivering engaging games to leading iGaming operators. The launch with FanDuel in Michigan and Connecticut serves as a significant proof point of the success of Bragg’s new U.S. content roadmap. Sherman highlighted the company’s excitement about expanding its relationship with FanDuel, anticipating the delivery of premium content that enhances player engagement and retention.
Financial Highlights:
In 2022, Bragg Gaming reported robust full-year results, showcasing record revenue, gross profit, and EBITDA. The full-year revenue surged by 45.2% to €84.7 million, underscoring the company’s financial strength and growth trajectory. The positive trend continued into the fourth quarter, with revenue rising by 50.3% to €23.7 million.
Michigan’s Gaming Landscape:
Amidst these developments, Michigan’s igaming and sports betting revenue experienced a decline, totaling $169.3 million in June, reflecting an 8.9% decrease compared to May’s $185.8 million. The Michigan Gaming Control Board reported a breakdown of gross receipts, indicating that Internet gaming gross receipts were $151 million, while gross sports betting receipts stood at $18.3 million. Despite the monthly dip, when compared to June 2022, igaming AGR saw an impressive increase of 25.1%, and sports betting AGR surged by 83.9%.
Bragg Gaming Group’s strategic initiatives with FanDuel and Rush Street Interactive underscore its commitment to shaping the future of igaming content delivery. The expansion into Michigan and Connecticut, coupled with financial successes and collaborative endeavors, positions Bragg as a key player in the dynamic and evolving North American igaming landscape. As the company continues to roll out premium content and innovative technologies, its footprint in the region is poised for further growth, offering players a diverse and engaging gaming experience.