Bragg Gaming’s Chief Financial Officer, Ronen Kannor, will be leaving his position.
Despite the company’s positive financial performance in 2023, Kannor has opted to explore new prospects. Bragg Gaming is actively seeking a successor and evaluating various tactical approaches for the handover.
Kannor’s departure will take effect on June 3, 2024. He joined the gaming technology and content supplier in 2019 and presided over substantial expansion, including the company’s inclusion on both the Toronto and Nasdaq stock markets.
CEO and Board Chair, Matevž Mazij, conveyed appreciation for Kannor’s contributions and extended well wishes for his future pursuits. Kannor reciprocated with gratitude for his tenure at Bragg, emphasizing the accomplishments of the finance department and the company’s overall upward course.
The Prague Gaming Group recently publicized their fiscal outcomes for the final quarter and the entirety of 2023. Although Q4 experienced a minor decrease in income and earnings due to revised agreements with a crucial strategic collaborator, the firm highlighted the general robustness of their yearly results.
Throughout the year, they attained a 10.4% rise in earnings, hitting €93.5 million (roughly $101.3 million USD), and witnessed their overall profit ascend to €49.9 million. Modified EBITDA also displayed remarkable expansion, surging by 26.3% to reach €15.2 million for the 2023 financial year.
Separately, Prague Gaming Group has established a specialized committee, led by autonomous board representative Don Robinson, to investigate strategic possibilities. This group will be evaluating a variety of choices, potentially encompassing a divestiture of the company or additional acquisitions.
This follows Prague Gaming Group obtaining a B2B permit from the Ministry of Foreign Trade and Tourism in Peru. This authorization enables the firm to furnish its internet casino material within the Latin American market.
With entry to over 9,000 games via its Bragg Hub aggregation system, the company is well-situated to supply operators in Peru’s expanding iGaming sector with a highly competitive selection of products.
