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New York, NY – February 16, 2022 – The online gambling market is continuing its rise to the top. After hitting $66.7 billion in 2020, a 13% increase from 2019, new research suggests an even bigger jump in years to come. According to Technavio’s latest market research report, the global online gambling market is poised to witness an incremental growth of $114.21 billion between 2019 and 2024. As more states and provinces enter the legal online gambling space, that number could be even higher, standing to benefit companies like Bragg Gaming Group (NASDAQ:BRAG) (TSX:BRAG), Activision Blizzard (NASDAQ:ATVI), MGM Resorts International (NYSE:MGM), International Game Technology plc (NYSE:IGT) and Gan Limited (NASDAQ:GAN). Due to factors such as advancement in available technology like smartphones and apps, increased confidence of gamers paying online, and increasing digitalization of the world, the online gambling market is growing in many regions.
Global B2B iGaming technology and content specialist Bragg Gaming Group (NASDAQ:BRAG) (TSX:BRAG) continues to expand through acquisitions, partnerships and organic growth.
On February 14, Bragg announced its launch of exclusive iGaming content in the Czech Republic in partnership with the SYNOT group, via its SYNOT INTERACTIVE platform. This deal marks Bragg’s entry into the Czech Republic and strengthens its presence in Central Europe.
In the last 11 months, Bragg has expanded its popular content distribution in the regulated markets of Switzerland, Germany, Greece, the Netherlands and the UK, in addition to this recent launch in the Czech Republic. According to H2 Gambling Capital, the total addressable market (TAM) for the Czech Republic’s online casino sector is projected to be approximately $500 million in 2022, while the TAM for all six of the countries will be roughly US$9.5 billion.
“Introducing our Czech-certified exclusive game titles via the SYNOT INTERACTIVE platform for players at SYNOT TIP Czech Republic represents another milestone in our continuing efforts to expand the number of markets we serve globally,” Chris Looney, Chief Commercial Officer at Bragg Gaming. “The success we have had since early 2021 with growing the number of markets we address is expected to further our growth momentum with more new markets expected to come online later this year including in North America and in Europe. We are excited to enter the Czech market that is served by SYNOT TIP as we are confident the engaging entertainment our content offers will prove to be popular with players.”
Bragg has also partnered with the Blue Guru Games to release many exclusive titles from the innovative studio. Under the deal, the fledgling studio will create new and unique content primarily for European iGaming markets under ORYX’s Blue Horn distribution program. The first title, Nemean Lion, will be available network-wide through ORYX operators.
Blue Guru joins a roster of partner studios developing games through ORYX’s Blue Horn program, which gives operators easy access to exclusive content with one contract and one direct integration.
Bragg has appointed Lara Falzon to the new role of President and Chief Operating Officer. Ms. Falzon is an accomplished iGaming executive and member of the company’s Board of Directors since March 1, 2021. She brings over 10 years of industry experience to this new role, including significant experience managing and structuring multiple multi-billion dollar gaming transactions. Ms. Falzon will be responsible for overseeing Bragg’s day-to-day operational performance and will help guide the continued execution of the company’s growth-oriented strategies.
For more information about Bragg Gaming Group (NASDAQ:BRAG) (TSX:BRAG), click here.
Online Gaming Companies Are Expanding and Entering Partnerships
Activision Blizzard (NASDAQ:ATVI), which is being acquired by Microsoft in an all-cash transaction valued at $68.7 billion, just announced fourth-quarter and 2021 results. The company reported net revenues of $8.80 billion for the full year ended December 31, 2021 and $2.41 billion in operating cash flow. On a non-GAAP basis, Activision Blizzard recorded an operating margin of 44% and earnings per diluted share was $4.08, compared to $3.21 for 2020.
BetMGM, a leading company in the sports betting and iGaming market, launched BetMGM Rewards earlier this month, bringing the benefits of a world-class loyalty rewards program to the gaming world. With every bet placed, BetMGM customers can earn BetMGM Rewards points and MGM Rewards tier credits for VIP benefits for MGM Resorts International’s (NYSE:MGM) 20+ premium destination resorts.
International Game Technology plc (NYSE:IGT) announced on February 1 that its subsidiary, IGT Canada Solutions ULC, has signed a five-year central systems contract extension with the Manitoba Liquor and Lotteries Corporation (MBLL). Under the terms of the extension, International Game Technology will provide an upgraded version of IGT’s INTELLIGEN™ video lottery central system to MBLL. INTELLIGEN connects nearly 6,600 Video Lottery Terminals (VLTs) across Manitoba. IGT also supplies MBLL with commercial casino cabinets, games and the IGT ADVANTAGE™ casino management system, as well as IGT PlayCasino games.
Gan Limited (NASDAQ:GAN), a leading provider of full-service online gaming software for the real-money online gaming, online sports betting and simulated gaming industries, has acquired Bulgaria and UK-based online casino game developer Silverback Gaming. The acquisition provides GAN with exclusive worldwide rights to all current and future Silverback online games, which the company says will include 50 unique new slot games over the next 3 years. The acquisition will bolster GAN‘s SuperRGS offering launched in November in the US with an exclusive portfolio of online slot game experiences. Silverback’s existing portfolio of online slot games will be launched in GAN‘s SuperRGS content suite beginning in the first half of 2022.
Bragg Gaming Group has shown that it knows what it takes to become an international force in the global online gaming market by achieving success in every new market it enters.
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