Bragg Gaming Group has withdrawn its 2026 monetary steering after reporting decrease second-quarter income, citing restricted visibility following its acquisition of Drayton International and the early stage of integration planning.
The iGaming content material and know-how supplier generated €22.9 million in income in the course of the three months ended June 30, 2026, representing a 12% decline in contrast with €26.1 million in the identical interval a yr earlier. The firm attributed the lower primarily to modifications in its European platform enterprise and operator integration developments in Brazil.
Revenue from the Netherlands declined 14% year-on-year as clients moved away from legacy platform agreements. Brazilian income remained steady in contrast with the second quarter of 2025, though some operators shifted towards direct provider integrations.
Bragg’s proprietary content material enterprise in Canada and the United States delivered stronger outcomes in the course of the interval. Revenue from that phase elevated 44% year-on-year and rose 25% in contrast with the primary quarter of 2026.
Cost Reduction Improves Margins Despite Lower Revenue
While income declined, Bragg reported improved working effectivity following restructuring measures launched earlier within the yr.
Adjusted EBITDA remained at €3.5 million, unchanged from the second quarter of 2025. The firm’s adjusted EBITDA margin elevated to fifteen% from 13%, representing a 212-basis-point enchancment. Bragg attributed the margin growth to decrease compensation bills following workforce reductions and modifications in unhealthy debt provisions.
Operating loss narrowed to €1.9 million from €2.3 million a yr earlier as decreased working bills offset the influence of decrease income. Net loss, nevertheless, elevated to €2.9 million in contrast with €1.8 million within the prior-year interval. The firm reported a lack of €0.11 per share, in contrast with €0.07 per share within the second quarter of 2025.
Bragg carried out its first restructuring program in January, decreasing its world workforce by roughly 12% and focusing on round €4.5 million in annualized financial savings. An additional workforce discount introduced in July reduce roughly 19% of staff and is predicted to offer an extra €6 million in annualized money financial savings. Combined financial savings from each measures are anticipated to achieve roughly €10.5 million.
Bragg CEO Matevž Mazij mentioned the corporate continued specializing in profitability and value administration in the course of the quarter.
Drayton Acquisition Changes Financial Outlook
Bragg accomplished its acquisition of Drayton International on July 22 for US$9 million, with the transaction accomplished totally via the issuance of firm shares. Drayton is a gaming know-how and content material platform that expands Bragg’s current operations.
Following the acquisition, Bragg withdrew its beforehand issued 2026 income and adjusted EBITDA steering as a result of administration doesn’t but have sufficient working historical past for the mixed enterprise.
Before withdrawing steering, Bragg was monitoring beneath the decrease finish of its projected income vary on a standalone foundation. The earlier outlook had anticipated full-year income between €97 million and €104.5 million, with adjusted EBITDA between €16 million and €19 million.
Matt Davey turned Bragg’s non-executive chairman following completion of the Drayton transaction. Davey, founder and chairman of Tekkorp Capital and former builder of NYX Gaming Group, said in a press release that the corporate’s restructuring course of would proceed past the preliminary value reductions.
“The restructuring executed this year is a start, not a destination. Progress will be measured in cash generation in the short term, and revenue growth over time, and the Board will hold the business to that standard.”
Davey added that Bragg’s property embody proprietary content material development in North America, platform know-how and a licensed presence throughout greater than 30 regulated markets.
New Partnerships And Market Expansion Continue
Alongside restructuring efforts, Bragg continued increasing its business footprint.
According to NEXT.io, the corporate signed an settlement with Belgian operator 711 to offer know-how for its new on-line sportsbook. The association combines Kambi’s Turnkey Sportsbook with Bragg’s Fuze engagement know-how.
Bragg additionally supported Super Technologies’ growth into Greece via its Superbet model by supplying Remote Game Server content material and HUB aggregation companies.
In July, Bragg entered Alberta’s regulated iGaming market at launch, making greater than 80 titles obtainable via a number of operators within the province.
The firm additionally accomplished a non-public placement linked with the Drayton transaction. A complete of 751,445 subscription receipts issued at US$1.73 have been transformed into frequent shares and warrants, releasing roughly €1.1 million in escrowed funds. Bragg additionally renewed its revolving credit score facility with a Canadian monetary establishment.
Bragg introduced a board change alongside its monetary replace. Donald Robertson resigned from the board efficient August 13, 2026, whereas Jordan Gnat was appointed as a director on the identical date.
Management mentioned the speedy focus for the rest of 2026 will probably be integrating Drayton, aligning know-how and product plans, and establishing the longer term working construction of the enlarged firm.
