Posted on: September 14, 2025, 05:36h.
Last updated on: September 14, 2025, 05:36h.
- Bragg Gaming Group secures new debt facility
- Cyber breach from August considered resolved after investigation by independent third party
- Borrowing costs will be less than half of its prior note debt, company says
It was a busy Friday for Toronto’s Bragg Gaming Group, with the global B2B igaming content and technology provider announcing a debt financing deal with the Bank of Montreal while also providing an update on a cyber breach incident from last month.
Financing Agreement with BMO
In August the company said it believed a data breach was limited to Bragg’s internal computer environment. Bragg added the breach appeared to have no impact on Bragg’s ability to operate, and there was no indication that any personal information had been affected.
The breach occurred Aug. 16. The company said Friday after taking steps to mitigate any potential impact of the breach, and with the assistance of independent cybersecurity experts, it now considered the incident to be resolved.
Fanatics and Hard Rock Deals
Nothing had changed since the August statement, the company said. There has been no indication of personal information being exposed, with no impact on the company’s ability to conduct operations. Assurances were also provided to customers regarding the security of game titles.
The financial deal with BMW provides Bragg with access to a USD $6 million credit facility. The deal was announced in connection to the repayment in full of a promissory note controlled by Doug Fallon, Bragg’s Group Director of Content and Founder, Wild Streak Gaming.
Stategic Plan Includes Focus on U.S. Market
“This new credit facility strengthens our balance sheet and provides us with a flexible capital structure to execute our strategic plan,” said Robbie Bressler, CFO of Bragg Gaming Group. “The ability to secure financing from a major North American bank underscores the confidence in our business and our long-term growth prospects. We look forward to a long and successful partnership with BMO.”
In a statement, management believes based on the terms of the BMO loan, borrowing costs on an annualized basis will be less than half of its prior note debt, which will support its growth.
Previously Announced Brazil Launch
“Securing this BMO facility represents a critical milestone in our strategic plan to strengthen Bragg’s financial foundation and accelerate value creation for our shareholders,” said Matevž Mazij, CEO of Bragg Gaming Group. “With our cybersecurity incident contained and our borrowing costs cut by more than half, we are laser-focused on executing our strategic shift toward higher-quality earnings. The Company is prioritizing margin and cash generation over lower-margin revenue, and synergies realized post-quarter end to become a leaner operation.
“We’ve already realized EUR 2 million in annualized synergies and are on track to achieve our 20% Adjusted EBITDA margin target for the second half of 2025.”
Mazij referenced recent agreements with operators like Fanatics and Hard Rock Digital as indicators of growth in the U.S. via momentum in the proprietary content and technology pipeline. The company had also previously announced expansion into the new Brazil igaming market.
Better Financial Flexibility
“With improved financial flexibility, a strengthened operational foundation, and clear milestones ahead, we believe we have the right strategy and team in place to unlock Bragg’s full potential,” Mazij said. “We remain committed to maximizing shareholder value as we build sustainable, profitable growth and ensure our strong operational performance translates into appropriate market valuation.”
Besides providing operators with proprietary and exclusive gaming content, like Wild Streak Gaming, Atomic Slot Lab and Indigo Magic, Bragg offers player account management technology. Games built on Bragg’s remote games server (“RGS”) technology are distributed via the Bragg HUB content delivery platform.
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