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Posted on: July 16, 2021, 11:19h.
Final up to date on: July 16, 2021, 01:27h.
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Canadian gaming expertise supplier Bragg Gaming (OTC:BRGGF) stated earlier this week its second-quarter income ought to surge 23.5 p.c on a year-over-year foundation. It might additionally listing its shares on the Nasdaq Inventory Market someday within the present quarter.
The picture above illustrates the menu of on-line on line casino video games provided by Bragg Gaming’s Oryx unit. The corporate forecast a giant soar in second-quarter income. (Picture: Proactive Buyers)
In March, the corporate stated it’s planning to convey its fairness to the Nasdaq, asking traders at the moment to approve a share consolidation or reverse cut up to spice up its share worth. That’s in an effort to fulfill the change’s itemizing necessities.
At present, the corporate’s US-listed shares commerce over-the-counter and commerce round $8.70 at this writing. Bragg’s market capitalization is $173.56 million, placing the inventory on the larger finish of micro-cap territory.
The corporate has filed an utility for the direct itemizing of its shares on the Nasdaq Inventory Alternate. The corporate stays dedicated to this purpose, and expects to finish the direct itemizing of its shares on the NASDAQ change in Q3 2021,” in response to a press release.
Bragg’s plan for a US itemizing comes amid expectations for exponential progress within the North American iGaming market, which the small Canadian outfit is levered to.
Bragg Monetary Replace
The corporate forecast income of $17.7 million for the April by way of June interval. That represents a 23.5 p.c improve on a year-over-year foundation and a 5.7 p.c soar from the primary quarter.
Bragg stated that the second-quarter determine is “pre-acquisition.” The corporate continues integrating its buy of Wild Streak Gaming and expects to shut on the beforehand introduced deal for its Spin Video games acquisition later this yr.
“The mixing and efficiency of Wild Streak Gaming and the anticipated closing of the Spin Video games acquisition later this yr will place Bragg to leverage our current expertise platform, which incorporates in-demand participant engagement instruments, with new proprietary content material and buyer relationships positioning Bragg to handle the big US iGaming market alternative,” stated Bragg CEO Richard Carter within the assertion.
These aforementioned transactions point out Bragg is an energetic participant in iGaming consolidation. Analysts are saying will probably be persistent for a while.
Extra Bragg Particulars
The Canadian firm forecast gross sales of $34.5 million for the primary half of 2021 and notes its full-year top-line steerage stays unchanged at $55.5 million. Going ahead, it’s doable income will rise because of the Wild Streak buy.
“In Q2 2021, Wild Streak launched two on-line on line casino video games: Wonderful Cash Machine and Fortunate Lightning. These video games, along with Congo Money and Temujin Treasures (launched in Q1 2021), have demonstrated stable efficiency (e.g., wagering, gross gaming income, and distinctive gamers),” in response to Bragg.
Wild Streak is operational in seven web on line casino markets, together with New Jersey and the UK. Bragg studies second-quarter outcomes on Aug. 11.
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