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Posted on: July 16, 2021, 11:19h.
Final up to date on: July 16, 2021, 01:27h.
Todd Shriber Learn Extra
Canadian gaming expertise supplier Bragg Gaming (OTC:BRGGF) mentioned earlier this week its second-quarter income ought to surge 23.5 p.c on a year-over-year foundation. It may additionally record 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 an enormous leap in second-quarter income. (Picture: Proactive Traders)
In March, the corporate mentioned it’s planning to carry 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 satisfy the trade’s itemizing necessities.
Presently, 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 increased finish of micro-cap territory.
The corporate has filed an utility for the direct itemizing of its shares on the Nasdaq Inventory Change. The corporate stays dedicated to this aim, and expects to finish the direct itemizing of its shares on the NASDAQ trade in Q3 2021,” in accordance with a press release.
Bragg’s plan for a US itemizing comes amid expectations for exponential development 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 June interval. That represents a 23.5 p.c enhance on a year-over-year foundation and a 5.7 p.c leap from the primary quarter.
Bragg mentioned 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 12 months.
“The combination and efficiency of Wild Streak Gaming and the anticipated closing of the Spin Video games acquisition later this 12 months will place Bragg to leverage our present expertise platform, which incorporates in-demand participant engagement instruments, with new proprietary content material and buyer relationships positioning Bragg to handle the massive US iGaming market alternative,” mentioned Bragg CEO Richard Carter within the assertion.
These aforementioned transactions point out Bragg is an lively participant in iGaming consolidation. Analysts are saying shall 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 steering stays unchanged at $55.5 million. Going ahead, it’s attainable income will rise due to 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 strong efficiency (e.g., wagering, gross gaming income, and distinctive gamers),” in accordance with Bragg.
Wild Streak is operational in seven web on line casino markets, together with New Jersey and the UK. Bragg reviews second-quarter outcomes on Aug. 11.
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