Bragg Gaming Group Achieves Adjusted EBITDA Growth and Reduces Global Workforce Amidst Industry Challenges
Toronto, ON - Bragg Gaming Group, a leading global online gaming company, has reported impressive financial results for its second quarter of 2026. According to the company's recent conference call transcript, Bragg Gaming Group prioritized margin and cash flow performance over aggressive revenue expansion, which underpins their renewed group-wide strategy.
In a bold move, the company reduced its global workforce by approximately 19% on July 9, 2026, expected to deliver incremental annualized cash savings of EUR 6 million. This move is expected to bring total expected annualized savings to around EUR 10.5 million, combined with the restructuring announced earlier in January 2026.
The company's decision to focus on their core technology, content, and platform products has resulted in a leaner organization that accelerates its path to cash profitability and adjusted EBITDA growth. The CEO of Bragg Gaming Group, Matevž Mazij, emphasized the importance of this strategy in a recent conference call, stating, 'We prioritized margin and cash flow performance over aggressive revenue expansion, which underpins our renewed group-wide strategy.'
One area where Bragg Gaming Group has seen significant success is in its proprietary content. The company's proprietary content being deployed by U.S. and Canadian operators is building very positive traction, with a 44% increase compared to Q2 last year, driven by distribution, quantity, and quality of content.
Matevž Mazij highlighted the growth strength of Bragg Gaming Group's content, stating, 'Proprietary content is our most profitable product, and the U.S. is the most important market for us. Seeing this level of growth is exciting, and it underlines the growth strength of the content we build.'
However, not all markets have seen significant growth. The Netherlands declined 14% year-over-year, reflecting the anticipated roll-off of legacy turnkey contracts following customer migration away from their PAM. Brazil was static as certain operators moved to direct supply integrations, which moderated growth but improved the quality of revenue retained.
Despite these challenges, Bragg Gaming Group remains confident in its strategy and ability to adapt to industry changes. The company's decision to focus on core products and reduce costs has resulted in an adjusted EBITDA margin expansion of 212 basis points to 15.4%.
The acquisition of Drayton International and the appointment of Matt Davey as non-executive chairman have also contributed to Bragg Gaming Group's growth prospects.
As Robbie Bressler, CFO of Bragg Gaming Group, noted during the conference call, 'We absorbed a EUR 3.2 million reduction in revenue and delivered the same absolute adjusted EBITDA.' This demonstrates the company's ability to maintain profitability despite market fluctuations.
