Shares in Bragg Gaming Group gained more than 15 per cent in New York Wednesday after the company reported preliminary results for 2024.

Bragg said that it expects to report revenue of not less than €102 million for 2024, which represents a 9 per cent increase on 2023, with Adjusted EBITDA expected to be 1 per cent higher at €15.4 million.

The company also provided guidance for 2025 and expects to grow full year revenue to a range of €117.5 million and €123.0 million, driven by an expected increase in the percentage of revenue coming from its proprietary and exclusive content, as well as growth in key markets in North and South America and Europe.

Adjusted EBITDA in 2025 is expected to be in the range of €19.0 million and €21.5 million.

“I am pleased with where we believe 2024 results will land and very excited about the strong growth trajectory outlined in our 2025 guidance,” said Matevž Mazij, CEO of Bragg Gaming. 

“Our strategic investments in proprietary and exclusive content as well as various Data, Player journey and AI enhanced engagement features, are expected to drive our growth in 2025. By focusing on margin-accretive products, we are well-positioned to boost both revenue and profitability while pursuing opportunities in key markets such as Brazil and the United States. 

“Our PAM product remains a top-tier performer, and while our 2025 growth will largely come from the content side of the business, we have exciting prospects to expand our PAM offering. Additionally, I’m particularly proud of the strong executive team that we have assembled at Bragg this past year. The recently announced Caesars deal highlights their impressive capabilities,” Mazij concluded.

Shares in Bragg Gaming Group Inc. (NASDAQ:BRAG) gained 15.84 per cent to close at $4.90 per share in New York Wednesday and were up a further 1.63 per cent in after hours.