Bragg Gaming Group - Double-digit growth continues
Driven by 54.6% growth from non-German customers, Bragg’s Q319 revenues grew by 29.5% to C$10.0m. The core Oryx business is cash generative, leading to positive group EBITDA and a strong international pipeline bodes well for continued double-digit revenue growth. In particular, Oryx has recently signed two significant partnership deals in the US with Kambi and Seneca, which provides considerable credibility. We are leaving our forecasts broadly unchanged, with any US upside not currently in our figures (given its early stage). The sale of GiveMeSport (possibly by Q120) is an important milestone: apart from boosting Bragg’s cash balance, every C$1m of the potential sale proceeds equates to an additional C$0.013/share.Breaking Data is engaged in developing advanced search, analysis and information display tools and services. Co. through its wholly owned subsidiary, Devesys Technologies, Inc. (DTI), develops case management, tracking and reporting systems for Fortune 500 companies. The DTI's product line consists of TrakBasic(R), TrakEnterprise(R), and TrakWeb(TM).
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