Bragg Gaming Group has reported its second-quarter 2025 revenue results, with commentary from the company’s Chief Executive Officer, Matevz Mazij.
Q2 2025 revenue of €26.1 million ($30.5 million) represented a 4.9% increase from Q2 2024, while gross profit spiked 10.8% to €13.7 million.
Conversely, adjusted EBITDA fell 4.3% to €3.5 million, and the adjusted EBITDA margin contracted to 13.3% from 14.5%.
Bragg Gaming reported an operating loss of €2.3 million, compared to €1.2 million in Q2 2024, but apart from the Netherlands, revenue grew 21% year-over-year, and proprietary content revenue surged by 44%.
The gaming solutions provider detailed its strategic initiatives that included expansion in the United States with Fanatics Casino in the Tri-State area and securing an exclusive content deal with Hard Rock Digital. In Brazil, Bragg strengthened its foothold in the iGaming market through a partnership and investment in RapidPlay.
Following the Q2 2025 results, Bragg Gaming confirmed it had revised its 2025 full-year guidance, projecting revenue of €106 million to €108.5 million and adjusted EBITDA of €6.5 million to €18.5 million, reflecting higher gaming taxes and challenging market conditions in Brazil, the Netherlands, and Romania.
Last month, Bragg introduced a greater focus on AI with the appointment of Luka Pataky as executive vice president of AI innovation.
Bragg Gaming Group Reports Second Quarter 2025 Revenue Increase 4.9% over the Second Quarter of 2024 to EUR 26.1M. Join the #earnings call at 8.30am ET today.https://t.co/RispZzvd3M $BRAG pic.twitter.com/cgNtwakREq
— Bragg Gaming (@Bragg_Gaming) August 14, 2025
Positioning Bragg for sustainable, profitable growth
Bragg CEO Matevz Mazij explained that “In our 2024 strategic review, we identified cash flow, integration and margin as key priorities and value drivers for Bragg Gaming Group.
“In Q2 we began to focus on integration and optimization. We identified and actioned key areas where we have now optimized our cost structure and have implemented strategies to leverage synergies from acquisitions such as Spin Games and Wild Streak Gaming.
Mazij continued to summarize that “we are focused on driving cash flow, integration, and margin, and positioning Bragg for sustainable, profitable growth. “The actions taken in Q2 position us to achieve a 20% Adjusted EBITDA Margin target in the second half of 2025.”
Image credit: BraggGaming
