BRAG.V - Bragg Gaming

[peterHK]

Just came across this today.

 

Good shareholder letter: http://downloads.bragg.games/bragg-letter-to-shareholders-02072019.pdf

Most recent MD&A: https://static1.squarespace.com/static/5b74f038c3c16ae2358b7324/t/5cf0e499d796640001cb8e19/1559291034132/2019+1st+Quarter+MD%26A.pdf

 

 

Active in the sports/sports gaming space. Revenue from their main asset, ORYX Gaming, is up 81% y/y. Current CEO led restructuring so the business was EBITDA positive last quarter.

 

"Q1-2019 was the first full quarter for Bragg Gaming Group, and the Corporation set a strong pace for 2019, achieving $10.4M

in revenue, top of the expected range, and up 203 per cent over the comparable period in 2018. Gross profit increased by 181

per cent in the quarter compared with the same period in the prior year, coming in at $5.2M versus $1.8M in Q1-2018. The

inheritance of a business that was underperforming necessitated a significant restructure, but Bragg was also able to attain a positive

EBITDA1 within the quarter, faster than expected and for the first time in the Corporation’s history"

 

They're looking at further M&A options (which of course might blow up).

 

Anyone know anything more?