Bragg Gaming’s top financial executive, Ronen Kannor, is resigning from his position to explore different career paths. His departure is scheduled for June 3, 2024, and the company is actively seeking a successor for the CFO role.
Matevž Mazij, Bragg’s CEO and Chairman, conveyed his appreciation for Kannor’s contributions, emphasizing the company’s notable accomplishments under his leadership. These include listing on the Toronto Stock Exchange, securing a dual listing on Nasdaq, and successfully finalizing two acquisitions. Throughout this period, the company consistently achieved year-over-year growth in revenue, gross profit, and adjusted EBITDA.
Kannor reciprocated the sentiment, expressing gratitude for his time at Bragg Gaming and highlighting the team’s ability to overcome obstacles and propel expansion. He is dedicated to facilitating a seamless transition and extended his thanks to the board, his team, and colleagues for their support.
Bragg Gaming Group experienced a relatively successful 2023, despite a less-than-stellar final quarter. Their revenue fell slightly short of projections, reaching approximately €93.5 million (or $101.3 million, depending on the currency conversion), but the company remains optimistic. It appears they are actively restructuring partnerships to pursue more lucrative agreements. Notably, their overall annual profits increased, which is always a positive indicator.
Evidently focused on long-term strategy, Bragg Gaming Group assembled a dedicated team to investigate emerging prospects. This initiative could encompass various possibilities, from attracting new investors to potentially even exploring a complete sale of the company. It’s akin to a bold and ambitious maneuver in the corporate realm.
Furthermore, the company recently secured approval to introduce its online gaming platform in Peru. This development holds significant weight as the Latin American market exhibits a burgeoning enthusiasm for online gaming, and Bragg Gaming Group aims to capitalize on this trend. With an extensive catalog of over 9,000 games primed for release, Peruvian players are poised for a captivating experience. The future appears promising for Bragg Gaming Group.
