Benchmark Reiterates Buy Rating on Bragg Gaming Group Inc. (BRAG)

Benchmark analyst Mike Hickey reiterated a Buy rating and $6.00 price target on Bragg Gaming Group Inc. (NASDAQ: BRAG).

The analyst commented, "Bragg Gaming Group reported Q1 revenue of €25.5M (+7.1% YoY) and AEBITDA of €4.1M (+19.7% YoY), with results showing meaningful operating leverage, margin expansion, and cash flow improvement. Proprietary content rose 62% YoY and reached a record 15.5% of revenue, driving a 612-bps gross margin expansion to 56%. While the Netherlands remained a drag due to regulatory changes, with revenue down 19% YoY in that market, growth in the U.S. and Brazil more than offset the headwinds. The company reiterated its FY25 outlook, guiding to €120.25M in revenue and €20.25M in AEBITDA. Bragg’s focus on proprietary content, U.S. iCasino expansion, and strategic operator partnerships position it well for continued upside, particularly if Ohio legalizes iGaming."

For an analyst ratings summary and ratings history on Bragg Gaming Group Inc. click here. For more ratings news on Bragg Gaming Group Inc. click here.

Shares of Bragg Gaming Group Inc. closed at $4.53 yesterday.

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