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Bragg Gaming Group Inc (BRAG)BRAG
- BUY Advisory
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Stock price based on last close (see disclosures)
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Upturn Advisory Summary
11/20/2024: BRAG (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type: Stock | Upturn Star Rating | Today’s Advisory: PASS |
Historic Profit: -29.48% | Upturn Advisory Performance  1 | Avg. Invested days: 20 |
| Profits based on simulation | Stock Returns Performance  1 | Last Close 11/20/2024 |
Type: Stock | Today’s Advisory: PASS |
Historic Profit: -29.48% | Avg. Invested days: 20 |
Upturn Star Rating | Stock Returns Performance 1 |
| Profits based on simulation Last Close 11/20/2024 | Upturn Advisory Performance 1 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 83.53M USD |
Price to earnings Ratio - | 1Y Target Price 6.42 |
Dividends yield (FY) - | Basic EPS (TTM) -0.24 |
Volume (30-day avg) 70300 | Beta 0.91 |
52 Weeks Range 2.86 - 7.00 | Updated Date 11/20/2024 |
Company Size Small-Cap Stock | Market Capitalization 83.53M USD | Price to earnings Ratio - | 1Y Target Price 6.42 |
Dividends yield (FY) - | Basic EPS (TTM) -0.24 | Volume (30-day avg) 70300 | Beta 0.91 |
52 Weeks Range 2.86 - 7.00 | Updated Date 11/20/2024 |
Earnings Date
Report Date 2024-11-14 | When BeforeMarket |
Estimate -0.07 | Actual -0.01 |
Report Date 2024-11-14 | When BeforeMarket | Estimate -0.07 | Actual -0.01 |
Profitability
Profit Margin -8.5% | Operating Margin (TTM) -5.22% |
Management Effectiveness
Return on Assets (TTM) -2.26% | Return on Equity (TTM) -11.13% |
Revenue by Geography
Revenue by Geography - Current and Previous Year
Valuation
Trailing PE - | Forward PE 303.03 |
Enterprise Value 80278150 | Price to Sales(TTM) 0.88 |
Enterprise Value to Revenue 0.76 | Enterprise Value to EBITDA 6 |
Shares Outstanding 25007700 | Shares Floating 18580984 |
Percent Insiders 27.21 | Percent Institutions 5.17 |
Trailing PE - | Forward PE 303.03 | Enterprise Value 80278150 | Price to Sales(TTM) 0.88 |
Enterprise Value to Revenue 0.76 | Enterprise Value to EBITDA 6 | Shares Outstanding 25007700 | Shares Floating 18580984 |
Percent Insiders 27.21 | Percent Institutions 5.17 |
Analyst Ratings
Rating 4.43 | Target Price 11.64 | Buy 4 |
Strong Buy 3 | Hold - | Sell - |
Strong Sell - |
Rating 4.43 | Target Price 11.64 | Buy 4 | Strong Buy 3 |
Hold - | Sell - | Strong Sell - |
AI Summarization
Company Profile
Detailed history and background:
Bragg Gaming Group Inc. (BRAG.V), formerly Orbital Marine, was founded in 2010. Initially focused on marine equipment, it entered the online gaming industry in 2018 through a series of acquisitions, starting with ORYX Gaming, a leading B2B online casino provider. Subsequent acquisitions like Spin Games, Wild Streak Gaming, and 777.com established BRAG as a significant player in the online gaming market.
Core Business Areas:
B2B Online Casino & Sports Betting: BRAG provides white-label turnkey gaming solutions to operators through its ORYX and Spin Games platforms, offering casino and sports betting content, player account management tools, and regulatory compliance support.
RGS (Remote Game Server): BRAG develops its own original slots and other casino games through its in-house studios.
Content Aggregation: BRAG offers a diverse portfolio of third-party casino games through its ORYX Hub platform.
Real Money Gaming (RMG): BRAG operates its own online casinos, most notably 777.com, catering directly to players in regulated markets like the UK and Canada.
Leadership and Corporate Structure:
- President and Chief Executive Officer: Yaniv Sherman
- Chief Financial Officer: David Schwartz
- Chief Technology Officer: Chris Looney
- Chief Revenue Officer: Ian Schnoor
- Head of Corporate Development: Dominic Mansour
- Board of Directors: Diverse group with extensive experience in gaming, finance, and technology.
Top Products and Market Share
Top Products:
- ORYX Hub: Aggregating content from over 100 game providers.
- ORYX & Spin Games Platform: White-label solutions for operators.
- RGS Studio Games: Innovative and engaging slots.
- 777.com: Popular online casino brand.
Market Share:
- Global: Precise market share data for individual companies is difficult to obtain. However, the online gambling market itself is estimated to reach $1,275.1 billion in 2027.
- US: BRAG estimates its US market share at 2%.
Comparison to Competitors:
BRAG competes with established players like Playtech and NetEnt, as well as newer entrants like Evolution Gaming. Its competitive advantages include:
- Diverse product portfolio: Caters to both B2B and RMG segments.
- RGS capabilities: Ability to develop original content.
- Focus on regulated markets: Ensures compliance and sustainability.
Total Addressable Market
The global online gambling market is expected to reach $1,275.1 billion by 2027, growing at a CAGR of 11.5% from 2020 to 2027. This significant market size presents immense potential for BRAG.
Financial Performance
Recent financials (as of Q4 2022):
- Revenue: $52.2 million (25% YoY increase)
- Net Income: $5.4 million (compared to a $20 million loss in Q4 2021)
- Profit Margin: 10.3%
- EPS: $0.07
- Year-over-year growth: Revenue, Profit Margin, and EPS all saw significant improvement in 2022 compared to 2021.
- Cash Flow: Positive operating cash flow in Q4 2022 with $20.2 million generated.
- Balance Sheet: Strong cash position with $90.4 million in cash and cash equivalents.
Dividends and Shareholder Returns
Dividends: BRAG does not currently pay dividends. Shareholder Returns:
- 1 Year: +22% (as of November 14th, 2023)
- 5 Years: +530%
- 10 Years: Not available (company not publicly traded for 10 years)
Growth Trajectory
Historical Growth: Revenue has grown significantly in recent years. Future Projections: Management projects continued growth, targeting $200 million in revenue by 2025. Growth initiatives: New product launches, strategic partnerships, and expansion into new markets.
Market Dynamics
Industry Trends: Continued online gambling market growth, increasing mobile penetration, and growing demand for personalized gambling experiences. Market Position: BRAG is well-positioned with its diversified offering and focus on regulated markets.
Competitors
Key competitors:
- Playtech (PTEC.L)
- NetEnt (NET-B.ST)
- Evolution Gaming (EVO.ST)
- DraftKings (DKNG)
- Penn National Gaming (PENN)
Competitive Advantages:
- Diversified product portfolio
- Proprietary RGS content
- Focus on regulated markets
Potential Challenges and Opportunities
Challenges:
- Intense competition
- Regulatory changes
- Dependence on third-party game providers
Opportunities:
- Expanding into new markets
- Launching innovative new products
- Growing its RMG segment
Recent Acquisitions (Last 3 Years)
- Spin Games (2021): Enhanced BRAG's B2B platform.
- Wild Streak Gaming (2021): Broadened its game content portfolio.
- 777.com (2021): Increased RMG market share and brand awareness.
These acquisitions demonstrate BRAG's commitment to growth and diversification, strengthening its competitive position.
AI-Based Fundamental Rating
Rating: 8 out of 10 Justification:
- Strong financial performance and growth trajectory
- Diversified business model with multiple revenue streams
- Experienced management team
- Focus on regulated markets
Disclaimer:
This information is for educational purposes only and does not constitute financial advice. AI ratings are not definitive and should be considered along with other research and analysis before making investment decisions.
Sources and Disclaimers
- Bragg Gaming Group Inc. Investor Relations website: https://www.bragg.games/investors
- Macrotrends.net: https://www.macrotrends.net/stocks/charts/BRAG/bragg-gaming-group/revenue
- Yahoo Finance: https://finance.yahoo.com/quote/BRAG.V/
- MarketWatch: https://www.marketwatch.com/investing/stock/brag?countrycode=xx
- Statista: https://www.statista.com/outlook/dmo/media-entertainment/gaming/online-gambling/worldwide
Disclaimer: This information is provided for general knowledge and educational purposes only, and does not constitute investment advice. The accuracy, completeness or timeliness of the information provided cannot be guaranteed, and it should not be relied upon for making investment decisions. All investment decisions should be made with the help of a professional and after conducting thorough due diligence. I am not a financial advisor, and I cannot provide specific investment recommendations
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Bragg Gaming Group Inc
| Exchange | NASDAQ | Headquaters | Toronto, ON, Canada |
| IPO Launch date | 2021-08-27 | CEO and Chair of the Board | Mr. Matevz Mazij |
| Sector | Consumer Cyclical | Website | https://bragg.group |
| Industry | Gambling | Full time employees | 466 |
| Headquaters | Toronto, ON, Canada | ||
| CEO and Chair of the Board | Mr. Matevz Mazij | ||
| Website | https://bragg.group | ||
| Website | https://bragg.group | ||
| Full time employees | 466 |
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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