Canada’s Bragg Gaming Group Gains 44 Percent In Revenue Amidst The Pandemic

Published: 03/07/2020

Reading Time: 3 Min

Image: Shutterstock

Canada’s Bragg Gaming Group’s revenue has increased by 44 per cent during the first quarter because of the novel coronavirus. The company also revealed a 100 per cent increase in EBITDA growth.

The company said its expansion initiatives, including partnership agreements with Gamesys, SkillOnNet, Leon, CasinoSecret and Hub88, paid off.

The travel restrictions imposed by government regulators had a significant impact on the growth of online gaming companies. During the stay-at-home mandate of the government, the demand for online gaming massively increased globally.

US states with regulations in place for online gaming saw growth in the industry. Online gaming provided additional income for the state, giving them funds for their coronavirus control and prevention initiatives. Online gaming became essential in the recovery of nations that has allowed its operations.

Bragg Gaming Group Continues to expand

The Canadian supplier is bidding to partner with at least 20 potential companies to expand its operations in Europe and Latin America. CEO Dominic Mansour revealed that the company benefited from the impact of the pandemic.

People chose entertainment that they can enjoy at the comfort of their homes. The CEO said they are focused on expanding operations in the US’ gambling market. The company signed deals with Kambi and Seneca as they seek entry to the vast US market.

The company’s revenue increased from €6.1m in the first quarter of 2019 to €8.8m in 2020. The company’s EBITDA increased 100 per cent from last year during the same period to €0.8m. The company projects its revenue to increase by 30 per cent in the second quarter of the year. Its forecasted revenue ranges from €35m to €38m.

Bragg offers solutions for B2B gaming which includes omnichannel retail, online and mobile igaming platform and casino content.

Experts: Coronavirus boosts online gaming

Online gaming has a high potential for growth even before the pandemic. The billion-dollar industry has been entertainment for people worldwide, and it has provided billions of revenue for territories with legal online gambling. Sportsbooks are proof of the rapid growth of the industry.

Sports betting and casinos turned digital as technology developed, and internet speed becomes faster.

People can now place bets for their favourite teams in the comfort of their homes. Live dealer and online casinos are rising because of the accessibility and variety of titles offered on the internet.

James Birt, associate professor in Information and Computing Science at Bond University, saw a massive increase in the number of people playing games. The professors said the unprecedented growth in the volume of streaming and playing online during the pandemic reached record levels. He mentions that the novel coronavirus pandemic created the point in time that online gaming will rise.

He concluded that people who are not engaged in esports and gambling before the pandemic are now attracted to try the experience. Online gambling allowed people to play at the comfort of their homes and compete with families and friends.

During the lockdowns, Google reported a massive increase in searches for online gaming platforms. Registration in online casinos and sports betting platform surged as people stayed in their homes.