Core Insights - The article emphasizes the importance of value investing, which focuses on identifying undervalued companies in the market [2] - Bragg Gaming Group Inc. (BRAG) is highlighted as a strong value stock, currently holding a Zacks Rank of 2 (Buy) and an A grade in the Value category [3][6] Company Metrics - BRAG has a Price-to-Sales (P/S) ratio of 1.05, which is lower than the industry average of 1.31, indicating potential undervaluation [4] - The company also has a Price-to-Cash Flow (P/CF) ratio of 10.02, significantly lower than the industry average of 28.45, suggesting a solid cash outlook [5] - Historical P/CF values for BRAG have ranged from a low of 6.55 to a high of 19.01, with a median of 13.71 over the past year [5]

Core Viewpoint - Bragg Gaming Group Inc. (BRAG) has experienced a significant decline of 18.3% in its stock price over the past week, but the formation of a hammer chart pattern suggests a potential trend reversal due to increased buying interest [1][2]. Technical Analysis - The hammer chart pattern indicates a potential bottoming out, characterized by a small candle body and a long lower wick, suggesting that selling pressure may be exhausting [3][4]. - This pattern typically forms during a downtrend when the stock opens lower, makes a new low, but then closes near or above the opening price, indicating a shift in control from bears to bulls [3][4]. Fundamental Analysis - There has been a positive trend in earnings estimate revisions for BRAG, which is a bullish indicator suggesting potential price appreciation in the near term [6]. - The consensus EPS estimate for the current year has increased by 450% over the last 30 days, indicating strong agreement among analysts regarding the company's improved earnings potential [7]. - BRAG holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [8].

Core Viewpoint - The article emphasizes the effectiveness of value investing, highlighting Bragg Gaming Group Inc. (BRAG) as a strong candidate for value investors due to its favorable financial metrics and Zacks Rank [2][3][6] Company Summary - Bragg Gaming Group Inc. (BRAG) currently holds a Zacks Rank of 2 (Buy) and has received an "A" grade in the Value category, indicating it is among the strongest value stocks available [3][6] - The company has a Price-to-Sales (P/S) ratio of 0.98, which is lower than the industry average of 1.24, suggesting it may be undervalued [4] - BRAG's Price-to-Cash Flow (P/CF) ratio stands at 8.87, significantly lower than the industry's average of 28.31, further indicating its attractive valuation based on cash flow [5] - Over the past 52 weeks, BRAG's P/CF has fluctuated between a high of 19.01 and a low of 6.55, with a median of 14, showcasing its volatility and potential for value [5][6]

Financial Data and Key Metrics Changes - The company reported total revenue of EUR26.2 million for Q3 2024, representing a 15.9% increase year-over-year [15] - Gross profits grew by 18% to EUR14 million, with a gross profit margin of 53.5%, up 99 basis points [15][43] - Adjusted EBITDA increased by 7% to EUR4.1 million, with an adjusted EBITDA margin of 15.6% [16][43] - The company reiterated its full-year revenue guidance of EUR102 million to EUR109 million and adjusted EBITDA guidance of EUR15.2 million to EUR18.5 million [17][44] Business Line Data and Key Metrics Changes - Revenue from Player Account Management (PAM) and Turnkey operations was EUR5.7 million, accounting for 21.8% of total revenue, up from 20.6% in Q3 2023 [18] - Total content revenue was EUR20.5 million, representing 78.2% of total revenue, down from 79.4% in the same period last year [18] Market Data and Key Metrics Changes - The U.S. market saw a 40% increase in proprietary content revenue globally compared to Q3 2023 [17][42] - The company expanded its content distribution in the U.S., launching with Caesars in Pennsylvania and Ontario, and with FanDuel in New Jersey [40] Company Strategy and Development Direction - The Board concluded a strategic review process, determining that ongoing execution of the strategic plan is the best way to maximize shareholder value [9][45] - The company is focusing on expanding its presence in regulated markets, particularly Brazil, with plans to launch its technology suite in January 2025 [25][70] - A regional focus has been adopted for commercial strategy, targeting North America, Latin America, and Europe [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business plan and financial prospects, anticipating sustained double-digit topline growth and expanding bottom-line margins in 2025 [20][45] - The company is preparing for the launch of regulated markets in Brazil, expecting significant revenue opportunities [49][70] Other Important Information - The company has strengthened its executive leadership team to enhance operational focus and drive long-term growth [24] - New product features, such as jackpots and a recommendation engine, have been deployed to differentiate the company in the market [27] Q&A Session Summary Question: What should be expected for Q4 revenue and growth markets for next year? - Management indicated that double-digit growth is achievable, with the U.S. and Brazil identified as key growth markets [47][49] Question: What does enhancing shareholder value entail? - Management clarified that while share repurchases are not a priority, investing in commercialization and talent acquisition is essential for growth [50][52] Question: What factors contributed to the best quarter in the U.S.? - The combination of increased market coverage and improved go-to-market strategies were highlighted as key contributors [55] Question: How is the company planning to capture the Brazilian market? - Management expressed confidence in capturing significant market share post-regulation, leveraging existing relationships and a tailored content portfolio [70] Question: How is crypto affecting the market? - Management noted that while crypto is not widely accepted in regulated gaming, its potential acceptance could increase market size and be beneficial for the company [74][75]

�BRAGG Third Quarter 2024 Results Presentation November 2024 NASDAQ: BRAG | TSX: BRAG Forward Looking Statements 2 This presentation contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") which are based upon Bragg Gaming Group Inc.'s (the "Bragg") current internal expectations, estimates, projections, assumptions and beliefs which are inherently subject to significant business, economic and competitive uncertainties and contingencies, ma ...

| --- | --- | --- | --- | |-------|-------|-------|-------| | | | | | | | | | | Forward Looking Statements 2 This presentation contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") which are based upon Bragg Gaming Group Inc.'s (the "Bragg") current internal expectations, estimates, projections, assumptions and beliefs which are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2024 was €24.9 million, a record high, up 0.5% compared to Q2 2023 [10] - Gross profit decreased by 10% to €12.4 million, with a gross profit margin of 49.9% [10] - Adjusted EBITDA for the quarter was down 24% to €3.6 million, with an adjusted EBITDA margin of 14.5% [10] - Revenue, gross profit, and adjusted EBITDA showed sequential growth compared to Q1 2024, with increases of 4.4%, 4.4%, and 6% respectively [11] Business Line Data and Key Metrics Changes - Revenue from content represented 80% of total revenue in Q2 2024, up from 77% in Q2 2023 [11] - Proprietary content and exclusive third-party content revenue increased by 12% since Q2 2023, with notable growth in the U.S. market [11] Market Data and Key Metrics Changes - The company has expanded its distribution coverage in the U.S. to approximately 70% of the total addressable market, projected to reach 90% by the end of the year [31] - The global regulated online casino market is estimated at $32 billion in gross gaming revenue for 2024, projected to nearly double to $63 billion by 2029 [21] Company Strategy and Development Direction - The company is focused on increasing revenues and profitability through scaling its content business and expanding its regulated market distribution [18] - The strategic review process is ongoing, exploring potential mergers, acquisitions, or additional investments [4] - The company aims to leverage its proprietary Fuze player engagement solution to enhance its offerings across various gaming products [19] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about growth opportunities in North America, particularly through proprietary content and managed services [33] - The company is tracking to the lower end of its full-year revenue and adjusted EBITDA guidance, with expectations of robust trading in the second half of the year [31] Other Important Information - The company appointed new executives to strengthen its leadership team, including Robbie Bressler as Interim CFO and Neill Whyte as Chief Commercial Officer [5][16] - The company has settled its remaining convertible debt in cash post-quarter end [12] Q&A Session Summary Question: Where do you expect the bulk of the growth to come from beyond this year? - Management expects growth from expanding distribution in North America and new jurisdictions in Latin America and Europe [33] Question: How does the pipeline look for potential new PAM and content partners? - The pipeline is strong for turnkey solution clients, with a focus on North America for significant growth [34] Question: Is the company still on track to return to growth in gross margin by 2025? - Management believes that increasing the concentration of PAM and managed service customers will lead to improved profit margins [35] Question: What changes does the new CFO plan to implement from a financial perspective? - The new CFO aims to strengthen the balance sheet and explore partnership or M&A opportunities [37] Question: Has the company entered new regulated markets recently? - The company has entered the newly regulated market in Peru and is active in Brazil, with optimism about future opportunities in New Zealand and other jurisdictions [39] Question: What is the expected revenue uptick as U.S. coverage ramps up? - Management anticipates a significant increase in revenue as wagering is expected to double this year [41] Question: How has the Olympics impacted customer activity? - Management does not believe the Olympics have significantly impacted operator results, with previous events like the Euro being more influential [44]

Bragg Gaming Group Inc. (BRAG) advanced its collaboration with BetMGM by launching its newest games and Remote Game Server ("RGS") technology in Pennsylvania. Before this launch, the company extended its content's market reach in New Jersey in 2023 and Michigan in 2022 with BetMGM. From this launch, Pennsylvania's BetMGM players can access content titles from Bragg's Atomic Slot Lab proprietary content studio including Egyptian Magic, Fairy Dust, and many more upcoming titles. Furthermore, the players will ...

Bragg Gaming Group Inc. (BRAG) entered into an agreement with Kings Entertainment A.S. (Kings), a Czech land-based casino operator, to launch the Kingsbet online business in the Czech Republic. This marks the company's second client in the country for its Player Account Management (PAM) technology and full turnkey iGaming solution, expanding its reach in the region. Per the deal, the company will provide Kings with PAM technology, exclusive content from Bragg studios, aggregated online casino content via th ...

Matt Mazij We believe that it's very difficult to expect that the regulator will go back to square one and will ban slots only 3 years after they have regulated the market. And we have seen a first set of restrictions being implemented last year, and we are seeing certain effect to wagering in our portfolio of B2C operators negative effect on us. Sid Dilawari And then just one last one for me. You highlighted Peru. Can you just maybe touch on this market opportunity, maybe just in terms of TAM, the existing ...