Bragg Gaming Reports Revenue Growth in 2024 Amid Increased Operating Losses
Bragg Gaming Group announced its 2024 financial results, showing an increase in revenue but also a significant rise in operating losses for the period.
Bragg Gaming Group has released its financial results for the fourth quarter and full year 2024. The company reported a total revenue of €102 million for the full year, an increase of 9.1% compared to 2023.
In the fourth quarter, revenue reached €27.2 million, marking a 16.3% year-on-year increase. Gross Gaming Revenue (GGR) grew by 30.9% in Q4 to €15.8 million. Adjusted EBITDA also saw substantial growth, jumping 68.1% to €4.7 million for the quarter.
Despite revenue growth, Bragg Gaming's operating losses widened. The company reported an operating loss of -€0.7 million for the fourth quarter, a 51.7% increase compared to the previous year. For the full year 2024, operating losses totaled -€3.5 million, up from -€0.8 million in 2023.
Looking ahead to 2025, Bragg Gaming forecasts revenues between €117.5 million and €123 million, with adjusted EBITDA projected to be between €19 million and €21.5 million. CEO Matevž Mazij attributed the revenue growth to investments in proprietary content and AI-enhanced platform capabilities.