“Games-first” Strategy Drives Q1 Revenue Growth For Bragg

Bragg Gaming Group, now rebranded as bragg, reported stable revenue in Q1 2026 as its “games-first” strategy gained traction. Revenue for the three months to 31 March reached €25.7m, slightly above €25.5m recorded in Q1 2025. 

During this period, the company improved its profitability, supported by higher-margin proprietary content and tighter operational control. Bragg stated that revenue from proprietary and exclusive games outpaced overall group growth. It also attributed some of the success to North America and Brazil expansion. 

CEO Matevž Mazij said the business remains on track while pointing to upcoming strategic moves.

“In many ways, I believe we are only just approaching the starting line as we work to complete our potentially transformative transaction with Drayton,” he said. “We believe this will position us to lead the future of the global gaming industry with the right team, the best technology, a refreshed brand, and a clear ‘games-first’ focus.”

Regional performance highlights Brazil growth and Netherlands decline

Brazil emerged as a key growth market during the quarter, with revenue rising 33.3% year-on-year to €2.9m as regulatory clarity improved conditions.

Malta became the company’s top revenue-generating market, delivering €5.8m, up 26.1%. This pushed it ahead of the Netherlands, where revenue dropped 29.7% to €4.5m following new tax pressures. Growth was also recorded in Belgium and Croatia.

In the United States, revenue fell 12.1% to €2.5m. The decline was tied to a one-off contribution in Q1 2025 linked to a project with Caesars Entertainment. Excluding that, recurring revenue in the US increased 7.1%, supported by stronger proprietary content penetration.

Losses narrow as cost base stabilises

Revenue costs rose only slightly, leaving gross profit unchanged at €14.2m. Operating expenses were largely stable, but the absence of a deferred consideration remeasurement loss lowered operating loss from €1.7m to €1.4m.

Pre-tax losses narrowed to €1.3m from €2.0m, helped by lower interest expenses. The company also recovered up to €79,000 in income tax. Net loss improved significantly, falling from €2.6m to €1.2m. 

After accounting for a positive cumulative translation adjustment of €301,000, compared to a €1.4m negative impact last year, the company’s bottom-line net loss stood at €885,000. This is a sharp improvement from €4.1m in Q1 2025.

Rebrand and acquisition signal next phase of growth

Alongside its financial results, the company announced a rebrand to “bragg”, dropping “Gaming Group” from its name to reflect a more focused identity.

“Bragg crafts the ultimate iGaming player experience, combining battle-tested expertise with next-generation technology and captivating gaming worlds to deliver a proven revenue engine for our partners,” it said in a LinkedIn post.

“This evolution reflects a clearer focus and a stronger expression of what has always set us apart. While our look has evolved, our foundation remains the same.”

The company also reiterated full-year guidance, projecting revenue between €97.0m and €104.5m and adjusted EBITDA between €16.0m and €19.0m. These figures do not yet account for the planned acquisition of Drayton International.

Bragg has announced a profitable first quarter in 2026, which can be attributed majorly to its ‘games-first’ approach. The company generated massive revenue from its exclusive and proprietary games, coupled with expansions across Europe and Latin America. Its acquisition of Drayton International is another milestone that will transition bragg into a leading gaming brand globally.