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.
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:
Richard Carter (pictured) serves as the Chief Executive Officer for Bragg Gaming Group Incorporated and he used the press release to assert that the pact is to also further his company’s own ‘content strategy initiative’ by permitting it to expand its ‘exclusive games portfolio.’ The executive proclaimed that this deal is furthermore evidence of its ‘commitment to the North American market’ as it will give partner operators the ability to enjoy ‘a new and extensive catalog of high-quality localized content.’
“Adapting popular land-based titles for distribution in the online space is an initiative we have already seen huge success with via the games developed by our Wild Streak Gaming studio. Bluberi Gaming Canada Incorporated’s slot content portfolio continues to grow in popularity with land-based players and we are excited to now be able to add its titles to our rapidly growing omni-channel offering.”
Partner pleasure:
For his part and the Chief Executive Officer for Las Vegas-headquartered Bluberi Gaming Canada Incorporated, Andrew Burke, used the press release to note that his company is backed by over 25 years of industry experience and currently boasts a land-based library of more than 100 Class II and Class III titles including the popular Waves of Fortune and Colossal Dragons advances.
“Our new partnership with Bragg Gaming Group Incorporated represents further expansion in the distribution of our player-popular land-based content into the global iGaming marketplace. We are delighted to work with its team and to leverage the power of its RGS platforms to ensure that players can access our content wherever they reside and whenever they please.”
Quarterly success:
To continue the good news and Nasdaq-listed Bragg 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.
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.”
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