Bragg Gaming Group expects to see a 11.6% revenue increase in Q4 2021
B2B supplier to potentially see a significant increase in Q4 revenue in comparison to 2020
Bragg Gaming Group is expecting to post an 11.6% year-on-year revenue increase for Q4 2021 as it continues its igaming content and platform expansion.
Bragg expects to record revenue of $17.6m (£12.9m) in Q4 2021, in comparison to $15.7m in the same period in 2020. This revenue increase comes after the company went live with its content in several regulated igaming markets including the Czech Republic, Germany, Greece and the UK.
However, adjusted EBITDA is expected to face consecutive quarterly falls as the supplier anticipates to register $1.5m, which is down from $1.6m in Q3 2021.
Overall, the company expects to report 2021 revenue figures of $66.1m, which is a 25% increase in revenue in comparison to 2020, which was $53.2m. These figures show that there would be growth of 25% and 26% respectively, in comparison to the full year of 2020.
Adding to this reported figure, Bragg is expected to complete the acquisition of Spin Games by the end of Q1 2022.
Yaniv Spielberg, Bragg chief strategy officer, said: “The ongoing execution of our igaming content and platform expansion and new market initiatives are driving Bragg’s consistent operating momentum leading to near and long-term financial growth.
“These factors contributed to stronger than expected financial results in the 2021 fourth quarter and as a result we now expect to exceed our previously provided guidance for full-year 2021 revenue and adjusted EBITDA.”
Spielberg noted the firm’s full-year 2022 revenue guidance had been upgraded as a result of its expected Q4 2021 financials.
He added: “Looking forward, our deep bench of experienced senior management and operational teams continue to implement strategies that are leading to new areas of growth, as demonstrated by the strong initial performance we are achieving in our recently entered igaming markets.
“As a result of the ongoing momentum in our business, we are raising our outlook for full-year 2022 revenue range by approximately 17% at the midpoint, compared to our previously provided guidance, with the midpoint expectation of €70m representing 21% year-over-year growth.”