Bragg Gaming Group posted a combined set of results for Q3 2025, with revenue climbing to €26.8 million ($31.1 million) however taking a noticeable hit within the Netherlands where tighter regulations and better taxes dragged down efficiency.
Netherlands rules scale back Q3 development for Bragg
The Canadian B2B iGaming firm mentioned: “Income enhance of 20% (excluding The Netherlands)” whereas noting that “The Netherlands income decreased by 22% yr over yr as a result of that market’s total contraction brought on by elevated regulation and better taxes.”
Bragg Gaming Group Experiences Robust Third Quarter 2025 Monetary Outcomes and Reiterates Full-Yr Income Outlook.
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When taking the Netherlands out of the image, Bragg’s income was up 20%. However as soon as the Netherlands is factored in, total development shrinks to simply 2% yr over yr.
CEO Matevž Mazij commented: “Our income development was pushed by distinctive efficiency in key strategic markets, with the USA and Brazil up 86% and 80%, respectively, highlighting our growing scale in these high-potential areas.
“Excluding the Netherlands, the place non permanent regulatory impacts proceed to normalize, Bragg achieved roughly 20% development throughout the remainder of its markets.
“As we look forward to the rest of 2025 and into 2026, we stay assured in our potential to ship long-term worth for our shareholders. We look ahead to updating traders as we progress,” Mazij added.
Regional divergences delivers development
Different areas actually stood out for Bragg. Income in Brazil surged 80% and the US was up 86%, helped by the corporate leaning additional into its increased margin proprietary content material. Adjusted EBITDA additionally moved in the correct path, rising to €4.45 million ($5.17 million) from €4.08 million ($4.74 million) a yr earlier.
Bragg additionally caught with its full yr 2025 outlook, saying it nonetheless expects income to land between €106 million ($123 million) and €108.5 million ($126 million), with adjusted EBITDA projected to return in between €16.5 million ($19.2 million) and €18.5 million ($21.5 million).
Bragg lately shared that in September it lined up a new financing deal with the Financial institution of Montreal price as much as $6 million. The corporate mentioned it used the contemporary funding to clear earlier money owed and set the stage for a brand new development technique. It additionally saved constructing out its product lineup, rolling out its video games and RGS technology with Fanatics Casino in New Jersey, Michigan and Pennsylvania, and including two new titles for Hard Rock Bet Casino.
Bragg also addressed the cyberattack it skilled in August, noting “that there is no such thing as a indication that any private info was affected, the incident didn’t have any affect on its potential to proceed its operations, nor has it been restricted from accessing any information that was topic to the interior pc breach.”
Featured picture: Bragg Gaming Group
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