This week, Bragg Gaming Group, a leading B2B iGaming provider, reported first-quarter 2022 results, during which the company posted record numbers. In its financial report, the provider said it had accumulated revenue of more than $20.5 million for the quarter ended March 31, 2022. 바카라사이트 It also provided forecasts for full-year 2022 revenue and adjusted EBITDA
Bragg Gaming Group is a Canadian-based international gaming technology company and owner of a leading B2B company operating in the digital gaming industry. Its wholly owned subsidiary, ORYX Gaming, enables the conglomerate to deliver proprietary, proprietary and integrated casino content to its partners in Europe, North America and Latin America through its RGS server and ORYX hub platforms.
Bragg Gaming Group achieved a record revenue of $20.5 million in the first quarter of 2022, up 36.4% year-over-year. PLAYER’S BETTING REVENUE HAS $4 BILLION VERSUS Q1 2021. This year’s betting revenue boosted total revenue and adjusted EBITDA, reflecting changes in product mix for PAM, managed services and proprietary content.
The game provider also reported a 50.7% increase in total revenue to US$10.6 million from US$7 million in the first quarter of 2022. This means increased sales and a margin improvement of 51.8%, up 490% year-on-year. For the first quarter of 2022, it reports a net loss of US$700,000, down from $1.2 million a year earlier.
Adjusted EBITDA for the first quarter of this year was $3.2 million, up 26.2% from $2.4 million last year. Adjusted EBITDA margins fell 120 basis points to 15.3%, increasing investment in software development, products and senior management capabilities by suppliers in mid-2021. Adjusted EBITDA margin increased by 550 points on a quarterly basis.
The iGaming company also presented a forecast for full 2022 revenue. Estimated EBITDA varies between US$72 million and US$76 million.72 MILLION AND $76 MILLION. The mean of the 2022 revenue and adjusted EBITDA guidance range represents growth rates of 20% and 39%, respectively, over the full year 2021 revenue and adjusted EBITDA.
Bragg Gaming Group, which finished strong in the first quarter of 2022, continues to be busy in the second quarter. The iGaming Leader has officially made its home ground debut with the approval to operate in Ontario’s new online gaming and sports betting market. The jurisdiction is one of the great potentials and is worth more than $2 billion in 2022 alone.
And at the end of April 2022, the company announced that it would integrate content on its new online betting website, Betnation.nl . This integration will take place through the vendor’s ORYX gaming. ORYX Gaming will be supplied with its PAM platform. It will also launch a series of online titles on its Dutch website.