Updated on: February 24, 2026, 06:07h. 

Last revised on: February 24, 2026, 06:10h.

• Bragg Gaming Group unveils key unaudited financial figures for Q4 and FY 2025
• The Toronto-based entity is making strides in Brazil and the U.S.
• Revenue figures are hindered by regulatory issues in the Netherlands, according to the company

Bragg Gaming Group, an igaming content and tech solutions provider based in Toronto, has disclosed important unaudited financial outcomes for the fourth quarter and full fiscal year 2025, highlighting revenue growth primarily attributed to its expansion into the U.S. and Brazil.

Enhanced Proprietary Content Revenue

In the fourth quarter of 2025, revenues totaled USD $32.6 million, reflecting a 1.8% rise from the same quarter in 2024 (USD $32.0 million). Adjusted EBITDA stood at USD $5.4 million, slightly down from USD $5.5 million in Q4 2024.

According to the company, revenue from high-margin proprietary content surged by 70% year-on-year in Q4 2025, primarily propelled by growth in the U.S. market.

For the entire year 2025, revenues reached USD $125 million, marking a 4% increase from FY 2024 (USD $120 million), with adjusted EBITDA for the fiscal year at USD $19.5 million, up from USD $18.6 million in FY 2024. The company noted that, excluding regulatory headwinds in the Netherlands, year-on-year revenue growth would have been 18%, fueled by strong performances in the U.S. and Canadian markets.

Expansion into the U.S. Market

The complete release of Q4 and FY 2025 results is anticipated in March. These unaudited figures were released to facilitate upcoming investment community meetings prior to the full report.

The company also offered guidance for 2026, forecasting revenues between USD $114.3 million and USD $123.1 million by December 31, 2026, and adjusted EBITDA projected between USD $18.8 million and USD $22.3 million by year-end.

In their announcement, Bragg emphasized its ongoing transition towards higher-margin products, along with operational efficiencies and cost reductions facilitated by the incorporation of AI technology.

Embracing Artificial Intelligence

“Preliminary results indicate we achieved yet another record year in 2025, reflected in rising revenue and Adjusted EBITDA,” remarked Matevž Mazij, CEO of Bragg. “Looking ahead to 2026, we are confident in our strategies to effectively navigate the changing international regulatory landscape and taxation policies, expand our content market share in Brazil and the U.S., actively target emerging alternative markets like Historical and Live Racing and Prediction Markets, and pursue new jurisdictions to tap into higher-margin business opportunities.”

“Simultaneously, we aim to intelligently leverage the capabilities of the Bragg AI Brain to enhance cost efficiency, promote EBITDA growth, and progress toward consistent net profitability. We are eager to keep our investors informed on our advancements.”

Industry Update: Parq Casino Expands Slot Offerings

The Vancouver City Council has voted 5-4 to permit Parq Casino to increase its slot machine capacity from 600 to 900. This decision follows concurrent applications presented to the city from the British Columbia Lottery Corporation and Parq Holdings Limited Partnership.

Located next to BC Place Stadium in downtown Vancouver, Parq Casino spans 72,000 square feet and currently features 600 slot machines along with 75 table games, including blackjack, baccarat, roulette, craps, and a substantial poker room.