Bragg Gaming Group - Strong gaming business continues
Bragg Gaming Group has reported preliminary FY19 adjusted EBITDA of €1.4m (C$2.0m), with guidance of €5.5m (C$7.9m) for FY20, which, respectively, are 33% and 125% higher than our previous estimates. The earnout payment for the Oryx business commensurately increases by C$12m to c C$44m (our estimate) and Bragg is currently renegotiating the terms of this contingent consideration. Bragg’s core business is e-gaming (not sports), which should be relatively unaffected by COVID-19. We have raised our EBITDA estimates to align with the new guidance and we will translate our full forecasts into euros after FY19 results in April.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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