Bragg Gaming Cuts Costs Amid Revenue Decline, Acquires Drayton…

Event summary

Q2 2026 revenue declined 12% YoY to EUR 22.9m, driven by legacy contract roll-offs in the Netherlands and flat Brazil revenue.
Operating loss improved by EUR 0.4m YoY to EUR 1.9m, with Adjusted EBITDA margin expanding to 15% from 13%.
Acquired Drayton International for USD 9.0m in shares, appointing Matt Davey as Non-Executive Chairman.
Further reduced workforce by 19%, targeting EUR 6.0m in annualized savings.

The big picture

Bragg Gaming is doubling down on cost-cutting and strategic acquisitions to counter revenue pressures. The Drayton deal, led by new Chairman Matt Davey, signals a focus on restructuring for profitability. However, the withdrawal of 2026 guidance highlights integration risks as the company navigates market-specific challenges in Europe and North America.

What we're watching

Integration Challenges: The pace at which Bragg integrates Drayton will determine its ability to stabilize revenue growth.
Cost Optimization: Whether the latest workforce reductions can sustain margin expansion amid declining top-line performance.
Market Expansion: How Bragg's entry into Alberta and European operator relationships will offset legacy contract losses.