In a significant leadership update, Bragg Gaming has appointed its largest shareholder as the new CEO in Toronto.
Matevz Mazij, previously serving as the Chairman of the Board, took the role of chief executive according to a statement released on Monday. He is the founder of Oryx Gaming, which acted as Bragg's first partner for player account management and casino game aggregation services, a company that Bragg acquired five years ago. The goal is to solidify Bragg’s market presence.Ontario gambling sites .
He succeeds Yaniv Sherman, who resigned from his position, as announced by the company.
According to Holly Gagnon, the key independent board member at Bragg, Mazij's extensive experience in the gaming field, coupled with the expertise of the other senior leaders, places the company in an advantageous position to achieve its goals.
"On behalf of the Board of Directors and the entire Bragg team, I want to extend our gratitude to Yaniv for his leadership and dedication to the company,\" Gagnon remarked. \"The Board is committed to aiding the senior management as they continue to pursue initiatives aimed at fostering profitable growth and establishing sustainable value for shareholders.\"
Bragg specializes in providing iGaming content for various operators. Recently, they announced a collaboration with Bet365 to deliver gaming machines for the British firm’s application.Ontario online slot Additionally, Bragg was recently chosen by PokerStars to incorporate its online gaming offerings into the iGaming applications of Flutter Entertainment brands throughout North America and Europe.
Mazij Bullish On Bragg’s Future
Mazij expressed his enthusiasm about returning to a hands-on role within the company in a recent statement.
"Bragg has vast potential to expand its operational footprint in North America, Europe, and other emerging regulated iGaming markets globally,\" he stated. \"I am eager to work alongside the senior management team and all our colleagues to infuse innovative ideas that can enhance our capability to effectively implement the growth strategies initiated after acquiring Wild Streak Gaming and Spin Games in 2021 and 2022, respectively.\"
Ontario, being Canada’s most densely populated province, has opened legal avenues for gaming companies to operate.Ontario sports betting as well as iGaming since April 2022.
Three weeks ago, the company reported its second-quarter earnings for 2023, indicating an 18.9% increase in revenue ($27.2 million) and gross profit ($15.2 million) compared to the same period last year. Notably, the adjusted earnings before interest, taxes, depreciation, and amortization reached a record high of 19.2%.
In addition to PokerStars and Bet365, Bragg Gaming supplies content to Rush Street Gaming in Pennsylvania and FanDuel in Michigan. They also recently entered into an agreement with 888 Holdings.
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