Adam, you just posted a record second quarter. What do you feel were the most important accomplishments in the Q2?
Record breaking revenues amounting to Group revenue of €12.1m (C$18.9m ) vs €5.9m (C$9.2m) in Q2 of 2019 and €8.8m (C$13.7m) in Q1 of 2020, representing 107 per cent growth year on year and 38 per cent quarter on quarter, respectively
– Group Adjusted EBITDA of €1.8m (C$2.8m), representing significant growth from a loss of €0.3m (C$0.5m) in the prior year and gain of €0.7m (C$1.1m) in Q1 of 2020.
– Successful launch of multiple new operators including including MaxEnt and SuperBet
– Decreased dependence on German-facing operators with Schleswig-Holstein licenses; this revenue decreased to 28 per cent of total revenues vs 47 per cent in Q2 of 2019, demonstrating the underlying success of the Group’s diversification efforts and international growth initiatives.
– Successful receipt of the leading international ISO/IEC 27001 certification, underlining the supplier’s commitment to information security. The certification will enable ORYX Gaming to continue its global expansion into regulated markets and to provide its extensive content portfolio to even more operator partners.
What parts of Bragg’s business are showing the most progress?
Bragg continues to onboard new strategic clients. Bragg’s expansion to new jurisdictions, in particular LATAM, allows us to offer the full i-gaming platform which includes Casino, Sportbook and Lottery. This means increased penetration and diversification of operators and operator’s wallets, which results in higher revenues and increased operators “stickiness”
Has the geographic focus of the business shifted or intensified of late?
Bragg continues to expand geographically while reducing dependency on German facing operators. Bragg Decreased dependence on German-facing operators with Schleswig-Holstein licenses; this revenue decreased to 28 per cent of total revenues vs 47 per cent in Q2 of 2019, demonstrating the underlying success of the Group’s diversification efforts and international growth initiatives. In addition, we onboard new clients in Eastern Europe and LATAM.
How is the ongoing COVID-10 crisis affecting Bragg’s business?
COVID-19 crisis has been good for online gaming companies, as to many other online based companies. While acknowledging the widespread adverse impact of the COVID-19 pandemic on people and businesses globally, Bragg’s business has experienced a significant uptick in consumer engagement and revenue, as the online casino gaming sector continues to expand. Bragg’s focus on Casino technology allowed Bragg to remain competitive and offer an i-gaming solution even in the wake of Major Sport Leagues shutting down. In addition, people being forced to remain at home meant that they spent more time and money online and by extension, spending more money on online gaming.
What do you want to accomplish in the third quarter?
Increase customer base and continue to diversify customers. Continue the strong revenue growth and diversification. Refocus strategy on the lucrative North American gaming market and win new US gaming customers.