Bragg gaming is a major player in the online casino betting industry and when it makes news, everyone listens. A huge ESPN and Facebook following (a whopping twenty-six million watch GiveMeSport) is now taking note of its expanding U.S. presence.
“The US is definitely going in the right direction,” says Dominic Mansour, Bragg CEO. This veteran in the gaming and lottery business (twenty years and going strong) is one of the many recipients of the benefit of the repeal of the 1992 ban on commercial sports betting in the United States. The Supreme Court opened the way for entrepreneurs to enter the US market. Bragg saw an opening and jumped in.
It is good news for Oryx, Bragg’s online casino technology arm and GiveMeBet, their new brand. Don’t discount Europe, however, which generates 80% of revenues. Nonetheless, the door was open and Bragg entered, expecting to see from $3.1 to $5.2 billion by 2023. Mansour is ecstatic: “You cannot even consider success in our sector unless you have an intimate and deep knowledge of the regulatory framework around the world. It moves really really fast. It’s accelerating at the moment. We like regulation because with regulation comes stability.”
Bragg is shrewd when it comes to acquisitions. “What we want to do is buy businesses that fit into our overall portfolio so that we can leverage them off one another really neatly,” says Monsour. So far, so good. Oryx has been a winner, highly praised by online casino operators. They love the casino aggregator platform, offering over 5,000 game titles for an account.
Evidence comes from happy clients, GVC Holdings (owner of Ladbrokes Coral Group PLC) and Jackpotjoy PLC. Services from Oryx are worldwide from Colombia and Croatia to the UK and Malta. As a consultant, it assists with hosting and security along with payment and transaction systems. Risk and fraud management also comes under its umbrella.
What is to come?
Time will tell if Bragg’s plans pan out. We await their earnings report. Bragg has come a long way from the old Breaking Data days. Investors are standing by with optimism. Sales figures in 2018 should tell a good tale. Remember that revenue for Oryx jumped from $1.85 to $9.5 million in just six months in 2017. The shift away from tech and AI to gaming and media is paying off big time.
A positive future for GiveMeSport is likely as the site is being reworked to grow its audience base. “GiveMeSport has a bigger following on Facebook than ESPN and Sky Sports,” explains Mansour who plans to use the platform to grow its stake in sports betting, initially in the UK, and further into the US.
GiveMeBet will also get a facelift as Bragg’s sports betting and casino offspring. Mansour knows the company has a captive audience and great management expertise.
“Connect those two dots together and you have the opportunity to build a really fantastic business.”
A version of this article first appeared at proactiveinvestors.com