Bragg Gaming Group Reports FY25 Results and Outlines 2026 Guidance

Bragg Gaming Group has released its preliminary, unaudited results for the quarter and full year ending 31 December 2025, anticipating revenues of €106.1m for FY25.

This represents a four per cent increase year on year. Adjusted EBITDA for the period is expected to be around €16.6m, equivalent to an adjusted EBITDA margin of approximately 15.6 per cent, up from €15.8m the previous year.

For the quarter, revenues are anticipated to be around €27.7m, up 1.8 per cent year on year, with an adjusted EBITDA of roughly €4.6m – an adjusted EBITDA margin of about 16.6 per cent, slightly down from €4.7m year on year.

The company also provided guidance for 2026, forecasting revenue of between €97m and €104.5m, with adjusted EBITDA expected to range from €16m to €19m.

Matevž Mazij, CEO of Bragg, said:

“Based on the preliminary results, we delivered another record year in 2025, as demonstrated by increased revenue and higher adjusted EBITDA.

“Looking ahead to 2026, we remain confident in our ability to successfully navigate evolving international regulatory and taxation developments, continue to grow our overall content market share in Brazil and the United States, aggressively pursue emerging alternative markets such as historical and live racing and prediction markets, and expand into new jurisdictions that offer opportunities for higher-margin content business.

“At the same time, we plan to thoughtfully harness the power of the Bragg AI Brain to reduce our overall cost structure, drive EBITDA growth, and move toward sustained net profitability. We look forward to updating investors as we progress.”