Posted on: November 13, 2025, 08:19h.
Last updated on: November 13, 2025, 08:19h.
- Bragg sees 80% year-over-year increase in revenue in Brazil
- Big dip in Netherlands revenue due to higher taxes and new regulations
Bragg Gaming Group today reported its 3Q 2025 financial results, highlighted by an 86% year-over-year increase in U.S. revenue, which the company said was driven by expanding the sale of its high-margin proprietary content.
U.S. Market Success
“Bragg delivered another solid quarterly performance, anchored by increased revenue, improved operational efficiency, and higher Adjusted EBITDA, all reflecting the strength and resilience of our diversified business model,” said Matevž Mazij, Chief Executive Officer for Bragg. “The company is successfully navigating evolving international regulatory and taxation developments with a view to pursuing markets and jurisdictions that offer opportunities to higher margin business.”
Brazil revenue increased by 80% compared to Q3 2024, another bright spot for the company.
The negative was The Netherlands, which saw a 22% decrease in revenue of 22%, the result of what the company said was a market contraction due to new regulations and higher taxes.
80% Increase in Brazil Revenues
Overall revenue increase for the company, excluding The Netherlands, was 20% compared to Q3 2024, an increase of 2% if you include The Netherlands.
“We are also very encouraged by our ongoing success in advancing higher-margin proprietary content, securing new partnerships, and realizing the benefits of our expense structure realignment,” said Mazij. “These initiatives are already sharpening our commercial focus and enhancing the scalability of our operating model.”
Re-Financing Deal
The global B2B igaming content and technology provider is licensed and operating in regulated iCasino markets including the U.S., Canada, Brazil, United Kingdom, Italy, the Netherlands, Germany, Sweden, Spain, Malta and Colombia.
Bragg launched content with Fanatics Casino across key iGaming states of New Jersey, Michigan and Pennsylvania, expanding its U.S. content footprint. The company also finalized a new US $6.0 million financing agreement with the Bank of Montreal, replacing its prior debt at less than half the borrowing cost.
The Toronto-based company provides operators with proprietary and exclusive gaming content from its in-house studios Wild Streak Gaming, Atomic Slot Lab and Indigo Magic.
Bragg’s content pipeline is also powered by its “Powered by Bragg” partners, which include in-demand studios like King Show Games, Incredible Technologies, Bluberi and Sega Sammy Creation, providing unique, localized content for its U.S. partners.
