Bragg Gaming Group Withdraws 2026 Guidance Following 12 Percent Q2 Revenue Decline

Bragg Gaming Group withdrew its 2026 guidance after second-quarter revenue declined 12 percent. Revenue reached €22.9 million ($26.1 million), compared with €26.1 million ($30.6 million) a year earlier. Adjusted EBITDA held at €3.5 million ($4 million). The net loss widened to €2.9 million ($3.3 million) from €1.8 million ($2.1 million).

CFO Robbie Bressler said the core business had already tracked below the low end of prior forecasts before the Drayton International acquisition. “We are seeing more pressure on revenue,” Bressler said. “With our cost-cutting measures, we have been able to keep our EBITDA margin within what we had thought the business would be performing at.”

Regional Headwinds in Brazil and Croatia

Bressler pointed to Brazil, where suppliers increasingly integrate directly with operators and bypass Bragg. The early reliance on intermediaries has softened. Regulatory changes in Croatia on customer acquisition and advertising proved much more impactful than previously thought.

North America delivered contrast. Proprietary content revenue in the US and Canada increased 44 percent year-on-year and 25 percent from the first quarter. CEO Matevž Mazij described proprietary content as Bragg’s “most profitable product” and the US as its “most important market.”

Restructuring and the Drayton Acquisition

The results follow a year of upheaval. Bragg announced a 19 percent global workforce reduction in July after an earlier restructuring. The combined cuts are expected to generate €10.5 million ($12.1 million) in annualized savings. Compensation costs fell 14 percent year-on-year.

Mazij failed re-election to the board at the June AGM but remains CEO. The $9 million all-share acquisition of Drayton, completed last month, brought Matt Davey in as non-executive chairman. Davey said the restructuring is “a start, not a destination,” with near-term progress judged principally on cash generation. Drayton adds five game studios, more than 100 proprietary titles, and exposure to advanced deposit wagering in more than 30 states versus seven for traditional iGaming. Bragg expects the deal to accelerate its North American focus, according to Casino.org News. Bressler noted the company is “by no means done in terms of optimizing and seeing where more costs can come out.”

Reporting: Casino.org News

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