Canadian online gaming innovator Bragg Gaming Group Incorporated has announced the signing of a five-year global content licensing arrangement with pioneering games studio Bluberi Gaming Canada Incorporated.
The Toronto-headquartered firm used an official press release to detail that the agreement is to see it adapt land-based titles from Bluberi Gaming Canada Incorporated for use across the online market. The company pronounced that these transformations are to be conducted by ‘an experienced team’ featuring Doug Fallon, who established the Wild Streak Gaming enterprise it purchased in June for approximately $30 million. Come from Sports betting site VPbet
Momentous movement:
Bragg Gaming Group Incorporated is the parent of Malta-licensed online casino, sportsbook and lottery turnkey technologies provider Oryx Gaming Limited and additionally acquired iGaming innovator Spin Games in May. The company stated that the new alliance with Bluberi Gaming Canada Incorporated should prove significant for both parties as it will allow ‘for omni-channel distribution whereby the same games can be offered to land-based and online operators’ spread across Europe and North America.
Enlarged estate:Gaming Group Incorporated used a second press release to disclose that its revenues for the three months to the end of September rose by 9.9% year-on-year to $15.2 million despite an analogous fall of 22.7% in earnings before interest, tax, depreciation and amortization to $2.2 million. The enterprise revealed that its third-quarter wagering receipts nevertheless increased by 4.8% to $3.8 billion while the number of punters using its Oryx Hub distribution platform and content swelled by 14.4% to hit 2.1 million.
Profitable period:
Bragg Gaming Group Incorporated divulged that all of this saw its gross profit for the three-month period surge by 30.1% year-on-year to $7.8 million as its basis point margin improved by 8% to reach 51.4%. The innovator finished by noting that its associated net loss had declined by $800,000 to approximately $2.9 million ‘primarily due to the higher gross profit and a reduction in costs related to deferred consideration payable.’
A statement from Carter read…
“Our strong third-quarter 2021 financial performance and our increased guidance reflects the contributions from our comprehensive growth initiatives including the consistent progress we have achieved with new market diversification and our ability to offer more new high-performing propriety and exclusive third-party online content.”
