Bragg Gaming Group, the Toronto-based iGaming content and platform technology provider serving online and land-based gaming operators, announced a strategic agreement with its lenders to enhance financial flexibility and pursue growth initiatives.
New Third-Party Credit Facility
Bragg revealed it has agreed to repay USD $5 million of its USD $7 million secured promissory note, while extending the maturity of the remaining USD $2 million. The lenders involved are entities controlled by Doug Fallon, a senior officer at Bragg Gaming.
“This partial repayment and extension further solidify our balance sheet and underscore our confidence in the business,” said Robbie Bressler, CFO of Bragg.
The company is also in the process of securing a new revolving credit facility from a third-party lender, which is expected to offer more favorable borrowing costs and enhanced drawdown flexibility, strengthening its ability to navigate financial demands.
Brazilian Expansion
“With reduced reliance on working capital support, we are focused on finalizing this new facility to secure standby credit, ensuring greater financial flexibility to capitalize on strategic growth opportunities,” Bressler added.
Bragg reiterated plans to pay off the remaining USD $2 million balance of its promissory note by the June 6, 2025 maturity date.
The company is in full growth mode, projecting a 17.9% full-year revenue increase in 2025 to reach USD $127.4 million, driven by its operations in Brazil and North America.
Projected Revenue Growth
Earlier this year, Bragg announced it is now live in the Brazilian market, marking a significant milestone for its global expansion. The company also unveiled a partnership with RapidPlay, a Brazilian game development studio, further embedding its presence in the region.
In February, Bragg signed a content agreement with Loto-Quebec, reinforcing its foothold in the North American market. Additionally, Bragg entered Ontario’s regulated iGaming market in March 2022, a key move in its trajectory.
As Bragg Gaming Group continues to execute its ambitious strategy, these initiatives demonstrate its commitment to growth and delivering value for stakeholders.
