Canadian B2B online gaming solutions provider Bragg Gaming is set to join the Toronto Stock Exchange (TSX) at the end of this month.
The company, which is currently on the TSX Venture Exchange, will begin trading on the TSX from next Wednesday (27th January).
The group named its “strong performance over the past year” as a key reason for its uplisting on the main stock exchange in Canada’s largest city.
“Well on its way to becoming a leader in the gaming space”
After the news of Bragg Gaming’s incoming listing on the TSX, Board Member Paul Godfrey shared his delight and excitement for the future.
“Bragg is well on its way to becoming a global leader in the online gaming space.
The listing on the TSX will generate increased awareness among institutional and global investors and will put the company squarely in the sights of major industry analysts.
“As the global online gaming industry continues to expand at an exponential rate, investors are looking for companies with the technologies and expertise to lead the way, and Bragg is a prime example.”
“A significant milestone in our growth strategy”
Bragg Gaming CEO Adam Arviv also spoke about the TSX listing. He was delighted to have one of his goals met when he became company leader.
Arviv’s words were as follows.
“Uplisting to the Toronto Stock Exchange was one of my immediate goals when stepping into the CEO role.
“It’s a significant milestone in our growth strategy, and we’re pleased that our strong performance has allowed us to make the move to the senior market.”
Bragg Gaming’s full-year 2020 results are not yet published, but the signs are good
Bragg Gaming is yet to publish its Q4 2020 results, as well as its performance for the full calendar year. However, its Q3 performance has been revealed to the public.
The company reported 13% quarterly growth, bringing in €11.71 million. This was also much higher than Q3 2019’s figures, which stood at €6.81 million.
In terms of gross profits, the B2B gaming solutions provider reported €5.08 million for the three-month period ending on 30th September 2020. This was again much higher than in 2019 when the figure stood at €2.93 million.
Bragg is primarily known in the iGaming industry for its ORYX entity, which it purchased in 2018. Since then, the supplier for sportsbooks and casinos has enjoyed continual growth within the industry.