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Bragg Gaming reports 2023 results; confirms formation of special committee

Updated:2024-03-31 09:01    Views:67

Bragg Gaming has released financial figures for the fourth quarter and full year of 2023, showing a positive set of results overall. 


In the fourth quarter of 2023, Bragg saw dips in its revenue and profit, though this has been attributed to the revised commercial terms agreed with a key strategic partner during the quarter. 

Revenue decreased by 1.4% to €23.4m ($25.4m), while gross profit fell 7.3% to €12m, during the quarter. Gross profit margin was valued at 51.5% for Q4 2023 compared with 54.9% for Q4 2022. 

Wagering revenue did, however go up, rising 18.1% to €6.1bn. 

On the other hand, highlighting the overall drop off in the quarter, adjusted EBITDA fell 23.7% to a total of €2.8m. 


Looking at the entirety of 2023,slots the picture is a lot brighter for Bragg. 

Revenue increased 10.4% to a figure of €93.5m, while gross profit also saw growth, going from €45.1m in 2022 to €49.9m in 2023. Gross profit margin grew slightly to 53.4% in 2023 compared to 2022’s figure of 53.2%. 

Like with Q4, the most positive metric was wagering revenue, which year-on-year surged by 26.6% to €22.4bn. 

Adjusted EBITDA also significantly increased, by 26.3%, to a value of €15.2m for 2023.