Significant Revenue Growth Forecasted by Bragg Gaming Group for 2024

Bragg Gaming Group has recently unveiled its financial report for the fourth quarter, revealing a decrease in profits compared to the previous year’s figures. The company faced an operational loss of 0.4 million euros, a notable shift from the 0.2 million euro profit reported in the preceding year.

Reflected within these numbers, adjusted EBITDA margins experienced a decrease by 350 basis points to 11.9 percent, while gross profit saw a decline of 7.3 percent to 12.0 million euros. Furthermore, revenues also witnessed a dip of 1.4 percent to 23.36 million euros compared to 23.68 million euros in the previous year – predominantly influenced by altered commercial terms with a significant strategic partner during the quarter.

Looking towards the fiscal year 2024, Bragg Gaming Group foresees a remarkable revenue surge ranging between 9.1 to 16.6 percent, with estimated revenues ranging from 102 million euros to 109 million euros. Additionally, the company predicts an increase in adjusted EBITDA by 21.7 percent, with a projected range of 15.2 million euros to 18.5 million euros.

In a surprising move, the company disclosed the establishment of a specialized ad hoc committee by its Board of Directors to explore diverse strategic alternatives. These alternatives may feature the potential sale of the company or its assets, a merger, financing options, further acquisitions, or additional strategic opportunities. The timeline for the resolution of this strategic review process has not been set yet.

For a more in-depth look into the financial performance of Bragg Gaming Group Inc. and other firms, interested individuals can explore the rttnews.com website.

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