Bragg Gaming Group, an iGaming technology and content provider, revealed plans to reduce its workforce by approximately 12% globally. Announced on Thursday, this decision is part of a strategic restructuring effort aimed at realigning the company’s organizational structure. The initiative seeks to enhance the company’s cost framework, promote EBITDA growth, and expedite the achievement of sustained net profitability. The workforce reduction, expected to incur a cost of around €1 million ($1.2 million) in the first quarter of 2026, is projected to contribute to total savings of €4.5 million when combined with broader restructuring efforts.
Chief Executive Officer Matevz Mazij highlighted the necessity of this restructuring amid various operational challenges, particularly complex regulatory compliance demands and recent tax challenges in key markets. Despite these hurdles, Mazij pointed to promising opportunities in emerging markets and a heightened emphasis on short-term profitability as positive developments for Bragg. He noted the company’s strong technological assets, skilled workforce, and future prospects, which underpin the decision to cut operating expenses aggressively and realign organizational strategies. Mazij believes these steps are essential to maintain Bragg’s cash flow and bolster its EBITDA growth and cash profitability.
Mazij expressed concerns that Bragg is currently underestimated in the market, suggesting that improved cash profitability will address this valuation issue while also strengthening the company’s position to seize consolidation opportunities. He stated that the restructuring strategy aims to leverage Bragg’s robust foundation, positioning the company well for organic growth and potential market consolidations.
Bragg plans to offer further details on its revised operational model and strategic initiatives for 2026 upon the release of its 2025 full-year financial results.
Recent financial disclosures from Bragg presented a less favorable picture, with the company reporting a widened net loss in 2025. For the third quarter, the net loss increased from €1.2 million in 2024 to €3 million as of September 30, 2025. Operating and revenue expenses rose during this period, resulting in an operating loss of €1.2 million, compared to €402,000 in the corresponding period the previous year. Year-to-date financial performance for 2025 showed a 4.8% rise in revenue and an 11.5% increase in gross profit to €42.7 million. Nonetheless, expenditures outpaced revenue, leading to a widened operating loss of €5.2 million and a more than doubled net loss after tax of €11.6 million year-on-year.
Concurrently, Bragg is advancing its plans to integrate artificial intelligence into its operations. The company recently disclosed a strategic partnership with Golden Whale Productions, a specialist in iGaming data science. This collaboration aims to enhance Bragg’s predictive intelligence capabilities through Golden Whale’s sophisticated machine learning and proprietary AI models, particularly within its player account management platform. Bragg has set a goal to transition into an AI-first company by 2027, with AI-enhanced products expected to be a standard feature in over 90% of product launches by the following year. Additionally, AI is projected to influence three-quarters of its operational workflows.
According to Mazij, the integration of AI-driven technologies is expected to create opportunities for cost reduction and significant improvements in operational leverage, promoting excellence throughout the organization.
Looking forward, Bragg will focus on implementing its restructuring strategy and leveraging its AI initiatives. The company aims to provide detailed insights into the impact of these changes and progress in its upcoming financial results and strategic update announcements.