Bragg Gaming Enjoys Q3 Revenue Surge
Toronto based iGaming group Bragg Gaming have finally made public their third quarter report for 2019, covering the three-month period ending on the 30th of September. A quick look reveals that the period saw an impressive 13% percent jump in revenue, when compared to the second quarter period of the previous year. That adds up to a grand total of CA$10 million revenue generated.
According to a Bragg Gaming spokesman, the impressive performance was thanks to two main contributing factors. Namely a diversification of gaming offered to customers, and a number of key partnerships that reserved the company a significant head start in the still emerging United States online casino and sports betting market.
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The spokesman was also quick to point out that the numbers actually managed to exceed expectations. A prediction was made earlier in the year, expressing that the hoped for growth statistics was an ambitious 25%. The actual growth statistic achieved was a whopping 30%, when compared to the same period of the previous year.
In finer detail, the huge growth spurt was attributed mostly to ORYX Gaming, which is a subsidiary of Bragg Gaming. ORYX Gaming gained a multitude of new online game development partners, each of which have brought with them numerous talented developers. Importantly; many of the new studios struck a deal in order to take advantage of the revolutionary ORYX Hub Platform, which is quickly being seen as a transformative new industry tool.
As it stands, the ORYX Gaming Hub has officially welcomed 10 new partners over the quarter, but 14 more are set to join in the near future.
A Focus On United States Expansion
But it was the partnership Bragg Gaming managed to strike in the United States that really put the report over the top. The company finalised a key deal with the Seneca Nation of Indians and Kambi Group. This means that opportunities have now opened up in Seneca Allegany Resort & Casino in Salamanca, Seneca Buffalo Creek Casino in Buffalo, and Seneca Niagara Resort & Casino in Niagara Falls. This deal did not yet technically make a major impact on the report, but the potential for future growth seems to be nothing short of explosive.
Though, this future expansion is still hindered by one very important fact. The New York State has yet to finalise laws for the online market, with the process dragging on for an unknown period of time. Despite this, Bragg Gaming seems set to release future reports that likewise exceed expectations.