TORONTO – Bragg Gaming Group said Tuesday it is eliminating 19% of its global workforce, its second major round of layoffs this year as the igaming technology supplier accelerates a broad corporate restructuring and cost‑cutting plan.
The reduction follows a 12% workforce cut announced in January. In a statement, the Toronto‑based company said the latest move is expected to generate about $6.85 million (USD) in annualized cash savings once fully implemented, on top of the roughly $5.14 million in savings from the earlier layoffs.
Chief Executive Officer Matevž Mazij said the company is pushing further into its “AI‑first” transformation while tightening operational focus.
“We believe that the steps we took at the start of the year were the right ones for the business, and today we are going further,” Mazij said. “These measures are designed to deliver focus, discipline, execution and cash generation. By combining a more focused organization with the acceleration of our AI‑First transformation, we are structurally improving our costs while continuing to protect the technology, content and people that drive our competitive advantage.”
Mounting operational and corporate challenges
The latest cuts come during a turbulent period for Bragg. The company’s Nasdaq‑listed shares closed at $1.83 on Tuesday afternoon, well below their 52‑week high of $4.78.
Mazij resigned from Bragg’s board on June 19 after failing to secure majority shareholder support at the company’s annual meeting the day before.
Bragg has also absorbed several operational setbacks. Its largest client, BetCity — acquired by Entain in 2023 — migrated off Bragg’s Player Account Management platform and onto Entain’s proprietary system. The company additionally lost key leadership and development talent from Wild Streak Gaming, its Las Vegas‑based slot studio.
In September 2025, Bragg secured a $6 million credit facility from the Bank of Montreal to retire a $7 million promissory note tied to Wild Streak founder Doug Fallon.
Leadership changes and capital moves
Despite the headwinds, Bragg has continued to pursue strategic deals. On May 14, the company announced the acquisition of Drayton International, a gaming technology and content platform. Two weeks later, it launched a non‑brokered private placement of up to 751,445 subscription receipts at $1.73 per share.
The financing round drew support from major insiders and gaming entrepreneur Matt Davey, founder of Tekkorp Capital. Upon completion, Davey is expected to become Bragg’s non‑executive chairman, holding roughly a 10% stake.
Mazij said the company’s restructuring is aimed at stabilizing operations and positioning Bragg for future growth.
“The measures announced today build directly on the restructuring we announced in January and move us decisively toward sustained cash generation — leaving Bragg leaner, sharper and well positioned for growth, and the market consolidation opportunities we see ahead as the industry further regulates,” he said.
Bragg Gaming Group provides Player Account Management systems, the Bragg HUB content delivery platform, and Fuze, a gamification and engagement suite. The company operates across Canada, the United States, Europe and Brazil.
