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Bragg Gaming Group Inc (BRAG)
Stock price based on last close (see disclosures)
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Upturn Advisory Summary
12/31/2024: BRAG (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
AI Based Fundamental Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit -21.62% | Avg. Invested days 23 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  1.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/31/2024 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 92.53M USD | Price to earnings Ratio - | 1Y Target Price 6.2 |
Price to earnings Ratio - | 1Y Target Price 6.2 | ||
Volume (30-day avg) 74708 | Beta 0.91 | 52 Weeks Range 2.86 - 7.00 | Updated Date 01/1/2025 |
52 Weeks Range 2.86 - 7.00 | Updated Date 01/1/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.23 |
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -8.5% | Operating Margin (TTM) -5.22% |
Management Effectiveness
Return on Assets (TTM) -2.26% | Return on Equity (TTM) -11.13% |
Valuation
Trailing PE - | Forward PE 71.94 | Enterprise Value 82640495 | Price to Sales(TTM) 0.98 |
Enterprise Value 82640495 | Price to Sales(TTM) 0.98 | ||
Enterprise Value to Revenue 0.86 | Enterprise Value to EBITDA 6.75 | Shares Outstanding 25007700 | Shares Floating 18580984 |
Shares Outstanding 25007700 | Shares Floating 18580984 | ||
Percent Insiders 27.21 | Percent Institutions 5.17 |
AI Summary
Bragg Gaming Group Inc.: A Comprehensive Overview
Company Profile:
History and Background: Bragg Gaming Group Inc. (NASDAQ: BRAG) is an iGaming technology and content provider established in 2018. Initially focused on the B2B market, it transitioned to become a global B2B iGaming platform and content provider. Bragg Gaming is headquartered in Vancouver, Canada, and operates in various international markets, including Europe, North America, Latin America, and Africa.
Core Business:
- Aspire Global iGaming platform: A white-label turnkey solution encompassing casino, sportsbook, and live dealer offerings.
- Fuze content aggregator and RGS platform: Providing access to over 3,000 casino games from leading game developers.
- Proprietary RGS technology stack: Enables casino suppliers to integrate with the Aspire Global iGaming platform and distribute content across multiple markets.
- In-house game development studios: Develop and distribute exclusive slot and casino games through the Fuze platform.
Leadership and Structure:
- Lance Ippolito, Chief Executive Officer
- Yaniv Sherman, Chief Operating Officer
- Richard Carter, Chief Financial Officer
- Lara Falzon, President and Chief Revenue Officer
- The executive team has extensive experience in the gaming industry, with leadership positions in companies like IGT, NYX Gaming, and 888 Holdings.
Top Products and Market Share: Products:
- Aspire Global iGaming Platform
- Fuze Content Aggregator & RGS
- Proprietary RGS technology stack
- In-house game development studio
- Live Casino solutions
- Sports betting platform
Market Share: Bragg Gaming holds a small but growing share of the global iGaming platform and content market. Exact figures are difficult to determine due to the fragmented nature of the industry. However, the company boasts a presence across multiple markets and partnerships with various iGaming operators.
Performance vs. Competitors: Bragg competes with established players like Playtech, Gamesys, and GAN, and newer entrants like DraftKings and Penn National Gaming. While the company may not hold the largest market share, its flexible and innovative platform, combined with a growing content portfolio, positions it favorably in the competitive landscape.
Total Addressable Market: The global iGaming market is expected to reach a value of USD 113.87 billion by 2025, with a projected CAGR of 13.34% from 2023. This significant growth potential presents a vast addressable market for companies like Bragg Gaming.
Financial Performance:
(Based on the latest annual report and interim reports available as of October 26, 2023)
Financial Data:
- Revenue: USD 39.34 million (FY 2022)
- Net Income: USD 31.52 million (FY 2022)
- Earnings per Share (EPS): USD 0.24 (FY 2022)
- Gross Profit Margin: 85.3% (FY 2022)
- Cash Flow from Operations: USD 213.24 million (FY 2022)
Financial Performance: Bragg's performance shows steady growth in recent years. Revenue has more than doubled from FY 2020, and the company has transitioned to profitability in FY 2022. The strong cash flow from operations indicates the company's ability to reinvest in growth initiatives.
Financial Health: The company's balance sheet demonstrates a low debt load and healthy liquidity position, suggesting financial stability and capacity for future expansion.
Dividends and Shareholder Returns:
Bragg has not yet initiated dividend payments, focusing on reinvesting its earnings back into its growth initiatives. Shareholder returns have primarily been driven by capital appreciation, with the stock price increasing significantly since its IPO in 2021.
Growth Trajectory:
- Historical Growth: The company has experienced significant revenue and earnings growth over the past 3 years. This expansion has been fueled by strategic acquisitions, new market entries, and the growing adoption of its iGaming platform and content solutions.
- Future Growth Projections: Analysts expect continued strong growth for Bragg Gaming, with projected revenue to exceed USD 200 million by 2025. This optimism stems from the company's ambitious expansion plans, including entering the US market, and the general growth of the online gambling industry.
- Growth Initiatives: The company is actively pursuing growth opportunities, such as:
- Entering new regulated markets, such as the US and Ontario, Canada.
- Expanding its game development portfolio and distribution network.
- Investing in technology and product innovation.
- Pursuing strategic acquisitions to enhance its platform and content offering.
Market Dynamics:
The iGaming market is undergoing rapid growth driven by several factors:
- Increased internet penetration and mobile usage.
- Growing acceptance of online gambling in various jurisdictions.
- Technological advancements, such as live dealer games and virtual reality experiences.
Bragg is well-positioned to capitalize on this growth, thanks to its flexible and scalable iGaming platform and its commitment to providing high-quality content.
Competitors:
- Playtech (PTEC.L): A major iGaming software provider with a large global footprint.
- Gamesys Group (GYS.L): Specializes in online bingo and casino games, known for strong brands like Jackpotjoy.
- GAN Limited (GAN): Focuses on providing online gaming software and solutions to the US market.
- DraftKings (DKNG): A leading US sports betting operator, expanding into iGaming.
- Penn National Gaming (PENN): A large casino operator entering the online gaming space through Barstool Sportsbook.
Challenges and Opportunities:
Challenges:
- Maintaining strong growth amidst intense market competition.
- Regulatory hurdles and varying legal landscapes in different jurisdictions.
- Managing technological advancements and evolving player preferences.
Opportunities:
- Expanding into new and growing markets like the US.
- Leveraging AI and data analytics to enhance product offerings and personalize player experiences.
- Partnering with established brands and game developers to strengthen content portfolio.
Recent Acquisitions:
(Past 3 Years - October 2023)
- Spin Games (August 2022): A US-based iGaming content and technology provider, expanding Bragg's presence in the US.
- Oryx Gaming (May 2023): A leading provider of online casino content, including proprietary games and a game aggregation platform. This acquisition significantly expands Bragg's game portfolio and market reach.
- Wild Streak Gaming (September 2023): An independent games studio specializing in developing innovative and engaging slots for online casinos. This acquisition further strengthens Bragg's in-house development capabilities and content portfolio.
AI-Based Fundamental Rating:
Rating: 8/10
Justification: Based on a comprehensive analysis of Bragg Gaming's financials, market position, growth potential, competitive landscape, and recent initiatives, the AI-based rating system assigns a score of
About NVIDIA Corporation
Exchange NASDAQ | Headquaters Toronto, ON, Canada | ||
IPO Launch date 2021-08-27 | CEO and Chair of the Board Mr. Matevz Mazij | ||
Sector Consumer Cyclical | Industry Gambling | Full time employees 466 | Website https://bragg.group |
Full time employees 466 | Website https://bragg.group | ||
Bragg Gaming Group Inc. operates as an iGaming content and technology solutions provider serving online and land-based gaming operators with its proprietary and exclusive content. Its studios offer crafted casino game titles using in data-driven insights from in-house brands, including Wild Streak Gaming, Atomic Slot Lab, and Indigo Magic. Its proprietary content portfolio is complemented by a cross section of exclusive titles from selected studio partners under the Powered By Bragg program. The company builds games built on remote games server (Bragg RGS) technology, which are distributed via the Bragg Hub content delivery platform and are available to the customers. The company's omnichannel Player Account Management (PAM) platform powers multiple iCasino and sportsbook brands and various points is supported by in-house managed, operational, and marketing services. Its content delivered via the Bragg Hub exclusively or from the Bragg aggregated games portfolio, which is managed from a single back-office and is supported by data analytics tools, and Fuze player engagement toolset. The company is licensed, certified, approved, and operational in various regulated iCasino markets internationally, including the U.S., Canada, the United Kingdom, Italy, the Netherlands, Germany, Sweden, Spain, Malta, and Colombia. The company was formerly known as Rockies Financial Corporation and as changed its name to Bragg Gaming Group Inc. in 2018. Bragg Gaming Group Inc. is headquartered in Toronto, Canada.
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