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Bragg Gaming reports surging revenue in 1Q results; adds a pair of new directors to its board
During the quarter, the company launched nine new business-to-consumer operators and saw wagering revenue generated by its customers increase by 52% to $5.1 billion from C$3.4 billion Bragg s new directors are Holly Gagnon, a longtime gaming industry CEO, and Alex Spiro, a former prosecutor and chair of a sports investment platform
Bragg Gaming Group (TSX:BRAG, OTC:BRGGD) has released its first quarter financial results, revealing revenue that jumped by 62% year-over-year to C$20.9 million as unique users rose 54% to 2.4 million.
Adjusted EBITDA more than tripled year-over-year to C$3.4 million from C$1 million in the first quarter in 2020, and the company s net loss narrowed to C$1.5 million from C$6.8 million.
Kambi heads for Indian Country
12th May 2021
7 minutes read
The sportsbook technology provider believes that a focus on “local heroes” can help it continue to carve out meaningful US market share, and aid further expansion through tribal partnerships.
On the operator side, the undoubted early-stage winners of the Professional and Amateur Sports Protection Act’s (PASPA) repeal were the legacy daily fantasy businesses. On the B2B side, Kambi has been a huge beneficiary. Kambi took the first legal online bet in New Jersey, and as the third anniversary of PASPA’s repeal approaches, is now live and generating revenue in 14 states.
Legalization Efforts Prompt the Rise of New Sports Gambling Options
Feb 15, 2021 3:40 PM ET Legal Newswire POWERED BY LAW.COM
More states are now introducing proposals and bills to further expand sports betting under new regulations, making online sports betting legal or removing certain restrictions. As the legal system slowly becomes more friendly towards online sports betting, states around the country turn towards the young and popular industry as a means for generating stronger tax revenue and improve budgets. For example, last year the progress made in Illinois in regards to online sports betting vastly expanded the mobile wagering options available to the state s 12.7 million residents, helping the state to generate millions. According to data from Odds.com, which was published by Forbes, Illinois was poised to generate upwards of USD 73 Million in taxable revenue if the estimates of a USD 488 Million annual market come to fruition. The 15% tax imposed on gaming
Las Vegas Sands Corp. (NYSE:LVS) CEO
Sheldon Adelson, the casino industry lost its biggest opponent towards online gaming. With Adelson’s passing, his company sits at a crossroads, potentially finally making the same serious leap that its peers have made over the last few years and
embracing online gambling once and for all. But as new states, such as Michigan and Virginia, are added to the roll call of jurisdictions that allow online gaming, many brick-and-mortar casinos are looking towards
smart technology developers with turnkey solutions to make their transitions, such as
Bragg Gaming Group (TSX:BRAG) (OTCQX:BRGGF),