Bragg Expands US Presence with $9 Million Acquisition and Leadership Updates
Bragg Gaming Group Enhances US Expansion Strategy
Toronto-based Bragg Gaming Group has finalized the acquisition of Drayton International, a key player in multi-asset gaming technology and content. This move represents a significant step for Bragg as it aims to increase its presence in the competitive US gaming market.
The $9 Million Acquisition to Accelerate US Growth
Bragg has completed the $9 million acquisition through the issuance of 4.5 million new company shares, which will be subject to lock-up restrictions for up to two years. Drayton International’s established distribution network and diverse portfolio will enable Bragg to accelerate its growth within the US market.
Drayton brings with it involvement in several licensed gaming studios, and importantly provides Bragg entry into the growing Advance Deposit Wagering segment of the US gaming industry. Additionally, this acquisition grants Bragg access to proprietary gaming content that is simple to integrate into their offerings.
CEO Matevz Mazij highlighted the acquisition as a critical milestone, emphasizing that it positions the company favorably to meet rising demand for online gaming content in America.
Updates in Bragg’s Leadership
The acquisition coincides with changes in the company’s leadership. Matt Davey, founder and chairman of Tekkorp Capital—which holds a 10% stake in Bragg—has been named non-executive chairman of Bragg’s board. He replaces Holly Gagnon, who will continue as a board director. Meanwhile, Mazij was asked to step down from the board following a shareholder vote but will remain as CEO.
Ongoing Restructuring and Market Challenges
While expanding in the US, Latin America, and Europe, Bragg is also undertaking significant restructuring to enhance efficiency and reduce costs. Earlier this year, the company implemented two rounds of layoffs as part of this strategy.
Bragg has also recently faced market challenges, including the loss of a major client, BetCity, owned by Entain, as well as changes within some development studios such as Wild Streak Gaming, its premium slot studio based in Las Vegas.
