BRAG - Earnings call transcript Q2 2022

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Operator

Good morning. My name is Dennis and I will be your conference operator today. At this time, I would like to welcome everyone to the Bragg Gaming Group Second Quarter 2022 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. now Chief turn Strategy would to conference I Spielberg, Yaniv Officer. Instructions] like the to over [Operator Please go ahead.

Yaniv Spielberg

and conference is Thank you, Strategy hosting our earnings today's joining thank Officer you My operator. Good Group. my morning, Ronen second colleague, our second everyone, quarter performance; second comment for on Bragg call Chief quarter I'll Executive our remainder the our the alongside Officer, for review Spielberg. I'm Yaniv our guidance Sherman, Kannor, Yaniv and CFO, of welcome Gaming for call. Chief quarter year. will results Yaniv, who will calendar who name and XXXX be XXXX

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conference customers opportunities, the and respective and about including that may events, market and outlooks growth, plans a start expected call the cautionary regulatory events, and constitute corporation changes information prospective meaning a certain this or expectations, strategies, our assumptions responses results, open business and subsidiaries information to be made this trends and and statements concerning question-and-answer prepared call. brief questions future anticipated and and various to financial financial some our call opportunities forward-looking future number with on of prospects operational and Certain future I'll within the made strategic period. affect applicable remarks law. that technological securities their projections Statements oriented call may on we'll and conditions, of remarks, rely industries. and developments on the statements Following may regarding the economic

different. subject While the which which these will these materially reasonable, accurate company's factors, no and uncertainties to outside that to or other we of the are assurance estimates are a and performance accurate. of could achievement There actual many these expectations can assumptions they cause of prove assumptions of company to number the be any results, are that or risks, be believe be control or

complete available and that factors, I'd the these With to behind press publicly like of our other a Yaniv? please call our recently disclosure. release to CEO, us, filed to For discussion Yaniv Sherman. now turn refer

Yaniv Sherman

morning, the CEO Bragg. I'm everyone. over Sherman, ago. hosting I'm happy joined very just month company Good very having to name is My results first a and Yaniv our presentation, be the of

highlights, we'll financials mentioned, Yaniv As be and over second quarter operational our updates. going

we'll questions to presentation, happy may any be answer you have. the Following

of quarter EBITDA second €XX.X The XXXX consecutive million. XX% marked XX% to record higher to while Revenues growth quarter in at Bragg. rose €X.X a eighth the for came million,

gross the indicators of margin a profit growth well, has and moment. into these deeper Our drivers dive Ronen expanded will as in

very and Connecticut newly and ended, U.S. share live with completed quarter, to day we're North U.S. proposition Ronen's regulated quarter teams the and the strategy. passing of Wild Bragg acquisition Spin deal our out in with the first more and Games, to me The financial Spin America. milestone complemented by year, global our which and Streak another Spin-Oryx expansion these executive Europe. the after Bragg Ronen? very entry in went in market a I'll market growth integrated family. Ontario market, content Wild follows review. around entry Bragg's was the acquisition During team joining we've last details After Spin key Gaming's the the first rolled achievements Streak we Board, in welcome from excited proprietary our closure of our marked

Ronen Kannor

on I'll begin well very in executed and morning, Slide Thank good X. QX. Group everyone. you, my Yaniv, comments The

previous PAM quarter, record the and the million onboarding €XX.X revenue This base, from XX.X% from turnkey quarter the customer ever by performance existing customers mainly drives of up we and strategic from Netherlands, growth by The representing its mainly solutions was to in organic the segment. year-over-year new second X.X% in quarter the jurisdictions, had. up various

we Streak the from Gaming, Wild a Streak had Spin year. prior via the From quarter June generated strong billion, and from total up games Oryx content perspective, €X.X the in revenue was by Games previous performance the business the and to KPI addition, by X% up and In offered wagering from XXXX. acquired X.X% and a in Wild period

associated. ever offset sale and the X,XXX as strategy margin over mainly by cost platform have improvement as product adjusted license year. a €X.X with seeing which higher compared quarter margin subcontractors primarily in development, in This Gross effect the margin Streak profit alongside The and focus XX.X%, and cost product senior reaching can turnkey but and basis million EBITDA with third-party up attributed result you proportion mix points the function the right-hand in is of on by for see with the content, costs Adjusted trend derived a the increase increasing not its the XX.X% increased of million, the XX.X%. increased new QX software with part investment by increasing margin we had basis revenue from of from and period previous side, market chart EBITDA PAM of to during the Other positive revenue, which of is same wagering are to expansion was highlights. solutions, by control. as to the the a of salaries As gameplay the in points on an and the game German the XXX XX.X% in have since XXXX, management games by revenue, of on of scale Wild to corporation momentum. restrictions and well from growth to Turnkey proprietary proportion €XX.X

impact of financial the revenue both income million guidance to compared €XXX,XXX increase of quarter €XX EBITDA top we was #X. the net a with of to finished previous we're million, to expected net €XX driving over and investments quarter, With positive revenue of €XX €X.X We of as including a adjusted Spin million, range expected represents loss. of the momentum a is Games the from its Slide line EBITDA guidance a reported now adjusted to million in June the the in result consensus increase the acquisition the to the of XXXX business of continued updating to trading, representing move includes focused range X% consensus further positive guidance The the on Xst the I'll as year new is The as and of growth. from be guidance. respect XXXX. from in During the XX% a €XX loss million in closed period previous trading last guidance. guidance, the of be

I strong, been early earlier, our operators coupled in ramping the into As us new mentioned in new year. year launched in momentum exceptionally client and wins up entry Netherlands, the markets, this the financial with has particular of significant gives

result quarter, from including by seen revenue, in up X.X%, by which the XXXX. customers with limited XXXX group Streak customers, games. joined drop new as the has customers introduced Overall, X.X% in-house in due of Spin a Germany driven performance performance. customers, regulations underlying was new July During recurring by related licensed X.X% revenue, XX% built revenue the increased Legacy growth also and Games market German by quarter-over-quarter. and strong up German-facing quarter-over-quarter the market to to quarters the Wild quarter-over-quarter, a a including the of previous XXXX, new by quarter-over-quarter was

business and presented new the and we can more financial new have the headwinds see side, markets the year focused place took changes moving Slide the the expansion. for guidance. is after the that for July mix markets QX next since XXXX. gross sales underpin year right-hand quarter the on entry, Overall, revenue offsetting regulatory German In in you profit the whole X, As revenue business pipeline, new underlying XXXX the into

As you the the momentum QX can XXXX. gross margins margin see in since slide, growth are profit the from

product slide. the mix proprietary profitability. side third The in growth as improving PAM, last scaling presented of turnkey gross and towards since We trading product and line profit content, solutions while in changed revenue and in up with right-hand now momentum the are year margins of the the quarter mix and

of growth revenue. with XXXX third-party as control. revenue In and Slide a content of goods since like with the and margins costs, the of turnkey down PAM amounted past, scale non-third and ability excluding party associated providers, Total that platform which to content is continued the continued the proportion demonstrate proprietary margins. are would improved giving strong profit customers. in carrying is products gross indicated our The us a gross solution of costs, profit result we to to monitored as QX XX.X% As Dutch QX total XX, scale cost up our to margin we performance operational

expanding as a further Professional total its development, to continued subcontractors technology, in hosting further and proportion the fees U.S. X.X% scale revenue of to cost mainly corporation jurisdictions, the related total the of to legal scaled organic and new While growth. to targeted to of with amounted licensing, games expansion the product and and of revenue to growth. and of entering a XX.X% IT invest salary and scaled fees. as the revenue result costs total were revenue, audit Group and X.X% mainly the

options. to this operating items. Streak granted the I'll other operating be associated acquisition of XXXX Adjusted consideration, by EBITDA and all management costs, part income element gain is is Spin with Slide margins consideration Transaction and reconcile positive the re-measurement an share the we future of million. payment scale at contingent EBITDA in detail explained amortization which intangible in Games €X.X noncash growth. related and million corporation in The share-based and income following targeted Depreciation, XXXX. to line RSUs M&A the quarter. addition, amortization of XX, awards DSUs amounted gap and in against of strategy costs in acquisition to and of increase XX.X% composed can costs acquisition. senior with In QX The the the €X.X June share our to on Wild In adjusted mainly the to are exceptional how

paid was XX, with facility Moving the end working at place. at year, difference investment cash the on the XXXX, in XX, XXXX, the balance compared the December of between as €XX beginning million Net €XX million consideration €XX.X the capital compared to of €X million million the upon acquisition. in was million of with was to the Spin June period €X.X debt to Slide no main

cash positive We continue flow to from free operation. project

in related €XX As a XXXX, strategy business our technology. in CapEx ended million call little technology development software I Spin reminder, back acquisition requires From investing in requirements. our perspective, months in debt operating we June from a flow a X the to €X.X generated cash turn Yaniv. while of of costs investment With million Games the the part and activities, that, the to as will

Following to that, for you, back Yaniv. Back questions. the operator any to

Yaniv Sherman

Thanks, we've Ronen. to bit journey. like a progress I'd strategic been making share our the details about more in

completed shortly expedite to U.S. deal extensive half effort the the the help go Bragg the The the start June laying beyond. Oryx and Spin Spin live allow this us on leveraging of into this on the with licensing time, integration an completed announced, coupled after streamlined This and the allowing was While closing, for should in Spin's of Connecticut deal we've year content to during great wide X in year, and Ontario completion. platform allow was integration progress in was record since second shortly been rollout distribution to only in network to our between has making us and fast groundwork business. and technical acquisition been after

a which by acquired across is by Latin X player edge a content under proprietary of and and global technology. Fallon to and the full North Doug recently synergistic targeting equipping market. believe growing This X already server producing competitive We and Europe grow these management, product offering Oryx's Bragg assets account Slot will now using out markets is our Vegas in America, state-of-the-art in with studio, remote Bragg Las is us powered studios Streak Atomic gaming give Lab content developing America. aim portfolio headed stack we Our team the iGaming Wild in-house of

aim to operating U.S., and grow aggregated part our addressable we with American and see relationships portfolio. material exclusive access enhance proprietary, help through market and using the on revenues to profitability you a the market Focusing that our games in Bragg's iGaming Slide existing and partners footprint on integration, the of XX

perspective. of both half its underway, XXXX. rollout from make on has product we to and is Our XXXX second for progress slide, to diversify next aim sources our business the market meaningful and longer-term as the goals, In early and Bragg revenue a through the mission embarked

we've see, can made and you growth inorganic those in good progress, As driven organic by directions.

growth further aim We more through margins, higher our revenue our now while gains customers, proprietary revenue maintaining to are turnkey focused mix all diversify and operational product and equally complementary quarter with on XX, summarize discipline into as record To has Ronen We enjoyed Bragg the has control. XXXX, Slide and this half. cost momentum outlined. second half see a a first continuing strong of on

using a products be be this integrate months, the truly thank hard like over and and for in India, Slovenia, Launching global our their the resulted also provider. enhancing to to achievements. and into grow U.S. new few complemented by Bragg's subsidiary solution executive and businesses. Nevada business, employees which this team past impressive I'd becoming across markets Bragg their these recently Malta, take opportunity will our relationships, the helping We London, new acquired work further compete will our momentum into existing customers iGaming

We'll to questions you take your listening. be and thank now, all. happy for So thanks

Operator

is The the morning. Gilmer in just question on talked organic good with Q Neal Games up the excluding and recently - of your quarter Streak Maybe [Operator good from quarter. XX%. the Wild Yes, Haywood growth MD&A Gilmer Spin line Instructions] about Securities. -- in first Congrats Neal you

on markets call sort organic the prepared here, drive helps but if growth? that wondering there's call of that just some Netherlands on out remarks in any other of You touched the you'd

Yaniv Sherman

and good Ronen, want afternoon good to right, take all do Yes, you morning. that?

Ronen Kannor

in is from The So Dutch seeing Good of quite you managed In legacy I coming nominal are as sure. see also the the that -- Croatia. growth from business, the markets, perspective, growth, morning we're -- say, from we from that how general majority legacy Yes, in which operating would X we I We're market we is from and particular, just of picking have seeing strongly have X, customers [ph] know, which growth there iGaming platform XX% sorry, a Portugal, in U.K., the solutions, mean presented markets. services other and some although Serbia, up European growth I some doing, market. the we're excluding say, the We Yaniv, also acquisitions. the attractive can business, content is we XX% would various of from which doing? aggregating. from we're growth markets other small in on as European market, kind entered, turnkey and scale, and yes, some in some

there's one market markets organically Dutch So, I market as simultaneously. moment, as can't a that say per is in this particular we're at particular se significant but growing other from all

Neal Gilmer

would was thanks my couple for done short out landscape? outlook question obviously had with last Gaming. the opportunities you Okay, that. seeing acquisitions just for Are Spin time focus in Streak M&A and platform? on term is there you interesting year What's -- are or at second Wild your point Maybe a the potential this be, for the some on your growing existing of

Yaniv Sherman

opportunities. the I Bragg definitely few current Having months landscape opportunities the can continents that, interesting integrating integrating this in Again, changed further are And there and across two into think a are I considerably, Well, course is business call of the a three that due most skeleton completed the there. out acquisitions. few constantly over management's think that evaluating has house meaning, you're we've said additional is that new said sense that, the people global right deals in or our strengthening meaningful focus -- we #X having on priority. and last

further and ear be But newly operational the you we'll enhance as is next in financial at quarters given And growth correctly organic this the and at outlined, ground default it sense, then moments. through We to drive few to acquired would definitely have our assets. all engage. if the makes point,

Neal Gilmer

you taking Thank great. my that's Okay, questions. for

Yaniv Sherman

Thank you.

Operator

from Please Your next ahead. question Harman go Canaccord. is the of line with Bassi

Harman Bassi

on Bragg North attain? Lee's type Hey you markets and morning great able that following Matt of feel any associate. was of guys, and share good us previous just unfolding how is can -- Are I'm feel the insights second what one that to you of type the market up I market on give what questions. American quarter. you

Yaniv Sherman

in established would that the of idea only -- on great or the some we've American predominantly to basically market America North been progress into in establishing Canada, initial new seeing network. and good already North distribution Sure. signs, of the top distributing U.S. has this utilize -- amount but making network been point, that's one we've be been limited We're and proprietary content at deployed the a market, it.

the -- definitely that is definitely effective shortcut think the created us. I for acquisition integration an

integrations in that of then for the the So most markets up of with be portfolio in focus half as our building America, year, the of live getting each the and content second our many will North operator. iGaming

-- top are target there that big meaningful upwards. concentration much a operators is think, control some I The in of U.S. pushed or four very three the targets the part market.

us So see growth half And year existing the acquisition it healthy itself, the the think and business to was was to Bragg first definitely on based business I I operators. demonstrating of call those. the trying those the bolster it we'll will accelerate mentioned think both our with and looking be on some

was that trickier relatively market topic conversation, low a coming I that a but in we're of a addressable base In market I off terms of from share, think know it's the point. North total America.

but meaningful single-digit those need existing ways results. or be the market to points I to the There that business. double-digit percentage don't take think material upscale on additive few make a especially measuring, level, a in on various taking areas to are impact even of we So will a our BXB share

starting we'll level. on focusing be that and So,

Harman Bassi

Perfect, thank you so much.

Operator

with Cormark McFadgen the Securities. question is line next David of Your from

David McFadgen

my Hi guys. Thanks for questions. taking

exited looking license, a they operators operating Europe in get received the Netherlands markets was of so to them BXC license. of of other some some results their some and of So, the I at the

Now was white the anything there back activity then, on and they've to market on then and Netherlands secondly, the I Germany, pretty doing entered clamp impact any that? from growth wondering and market if operators? reporting to grey help market And the into regulator seeing you're the strong is down Thanks.

Yaniv Sherman

I'll take Sure. question first market. the Dutch about the

So far, material in the from Dutch our growth seen clients we've market.

global regional April only so operators, in back concluded ventured the May, and blackout period the the operators the ventured they've BXC in. think back lately, or I all have

felt it's or negative haven't competition, haven't I first the -- our soon. bit a the from think half, seen We but during the actually clientele seen we increased through impact

definitely become to think not it's competitive. more I

of we partnering some of think I have the the sort of privilege the leaders. with market

So, there point have and But at to back of would but Netherlands, ply on need continue of this pieces definitely, the will inherently grow be would the competition, chase. incumbents the out I others market go think, will share increased Dutch market the carve to the the to and smaller.

to is sources to also is point with but our other and clients balanced. of focus sort the launch Our ones our the diversifying just well additional becomes defend it and onboard so existing position, I grow think revenue

seen but authorities happening, having it that As Germany, actions doesn't our exited again, until they're haven't not specific any local the mean is we It as up this now. market at far after by limited. exposure point to

much We're able that sidelines. from know it at set still it the So, the to If participate. product any I be monitoring relevant this this other becomes monitoring it enforcement measures. target. point, or any I very definitely are do have carefully. particular we again, But don't know very to a we moving is

David McFadgen

all thank right, you. Okay,

Operator

next is Vander Please ahead. Jack Group. from Maxim Aarde question the go line with Your of

Jack Vander Aarde

raise. Wild the regarding see solid XX% Congrats Good great. up plus and morning a on start comments revenue, guys. acquisition great on Spin hear. guidance Streak sequentially, question to it's Good to the Spin I'll Okay, the with results. just

Does follow-ups mean of one there. the Spin spend, that or just couple including quarter then only revenue have forma a pro a just I And timing follow-up. of given Just this acquisition?

Yaniv Sherman

Ronen, do you want to take that?

Ronen Kannor

trading. really not acquired with month doing? Hi pro to Wild quarter-over-quarter, forma it's XX%. Streak was of present a are So was To on be just Sure. you presented year. presentable and not Jack, how we one back you, until Spin last then honest

quarter, the best to it previous increase. quarter-by-quarter, of the way X significantly And consolidation The compared to Spin present part impacted a it's show there's just the the is to was not growth. this quarter. the in So so of it month XX% during

out our the impressive and about the content land-based we're it's all into it's is from land-based Wild casino, our so which proprietary online U.S. with with the existing that with casino, perspective. Streak and on legacy its content So customers own actually rolling

Jack Vander Aarde

then, just MD&A helpful to Spin, sequentially That's those came like color, the you from XX believe. looks customers, comment, looking it's XX it. And I of Got see I nice added appreciate at it that.

good what So integrated hearing maybe customers? the things and a you operator maybe -- on some And hearing Just to a provide Can going platform? X and they've been Tier how change color sign, you're just how X newly you're that's there what the given Tier from just RGS some relationship. customers? in are and receptive ownership operator those

Ronen Kannor

receptive far. incredibly been They've so

certification solutions all and all, and Reno perspective. competitive new the Spin from new and the operating landscape time but cooperative market, actually team content. X in road the I by the new of and positioning. think content think, story, of new ever We've deployment But They They and not them, of in if process. or and this demonstrating with sort relaying streamlined to right very to the elements, extremely and a of nothing mostly the closing profit-centric been I now, welcome at most welcome them, see also And all Kent them. Vegas which They've X is undergoing been effective partners, are deal point. since been a existing those it's Naturally we've around very tandem team portfolio. portfolios. been eager his headed sort it's shows some Young in has and content

have been I position. very the -- from previous pretty my So also all, receptive good it's all relationships well been have Personally, in operators a receptive. very

will far. the going now we're to So But content make leveraging with to everything very on it's an happy of way some overall, all so that, complemented sound us that impact. with delivery I up think

Jack Vander Aarde

in newly so And great. debut in one timely. just very maybe the live which market, your just just last given April, Ontario then regulated went question, Okay,

and Just they wondering, you've other have a as opportunity, unique had are the kind of was markets run in, opportunity course entered home success of you seeing but recently Dutch nonetheless any market well. parallels to a

Just initial how see up playing ramp where would and your there rank you you things Ontario terms out? of in

Yaniv Sherman

Well, generally resembles the I market. a leveling it's in sort a, restarting means transitional at the I Ontario the think speaking, regulators The like by Ontario very American markets, a the the more or regulator field. of more what of than that restart. market then rather Dutch the Canadian, restart, markets under way Dutch restarted regulation more most dotcom of a down took a of playing Market just approach was given which the and call, process. have The basically effective shut existing the operators a in and American gradual out bringing same. sort tent, was transitional moment The

a longer under going But a one. it think dotcom market, tent of hit it's and grow. growing suggest healthy bit the be to numbers to come it it's and take initial to same then revenues continue to get sort I to us as all levels that a was will So to or

fragmented a more that like numbers set bit gradual demonstrate basically regulator a And is only [indiscernible] Dutch, plate quite in to but marketplace more more course, America, for markets, through think but like and field, would through, it's a we're Dutch also mentioned. both applications as bit means, initially. means -- take formal to come do other numbers I sort playing time have dramatic intelligent and it someone that's bit growing, think that competitive which which it marketplace around go this I much and also bigger seen work one us, of of market, But to it the we a lot a was as the XXX sometimes for in and a a generally, be the have a for certifications, the from won't also the day their of a it's the think than They launch North is desk, on in of when well the out and more as of over waiting And need will what as Bragg bottleneck. far consistent that's as I I much so be know, generally I we've and seen would speaking. will meaning applications get growth, it. we've quite to that far, I it's

Jack Vander Aarde

Okay, great. it. great Really color appreciate there. I

Operator

Your question ahead. of Please next the from [indiscernible]. is line go

Unidentified Analyst

thank taking gentlemen, Hi for you my very call. much

quarter, now. great company the the have while been a interested a Just and in way, for I by

questions, few if a mind. Just you don't

that? guys capital future, the additional maybe you for debt you in least a first the a right through if about to wondering That of if more flow you kind it first was going of Right considering go expect cash maybe one. slight need an for capital at you question. statements near But like Just working positive. the forward, here, capital is now, deficiency financial closely little well, raise the now. are one I my like I the obvious is looks going on was company security, can wondering be was know if some comment I

Yaniv Sherman

Ronen? Yes,

Ronen Kannor

Sure. good Dae morning. [ph],

working to sufficient up working as Rightly cap any beef and to a on. have the continue ago, a We going generating sheet we're spot We're balance growth what We keep You're very to We saying a basis. capital. as our Yes, tight initial don't to acquisition have have payment. Spin have $XX we cash with to we very debt. few we working knew that million months need on you're and knew support capital. quarter's narrow the pay monthly the and a far momentum. the

the our notify with the and it's come I we adjustments some of we're market. of sorry. the important that kind one with But numerous up the I will several There's and conclude moment. at Board So, we we processes weeks, have started management. believe to -- key going by discussions next achieve of end points announcement, will few And to in running the internally earlier yes, we even September. members with process about think

Unidentified Analyst

Okay, you very much. thank

second I an definitely How are of this noticed view is increased on risk? to would you question here, from a customer. see that tremendously you over in my or revenues concentration have this? customer you I And one opportunity? How QX is The risk the here, about XX% quarter. this based would concern that concentration customer I this about calculation, feel

Yaniv Sherman

were with So, But aspect think break fortunate that it's -- reasons. we we with leaders market of that positive specific market partnering we is due to and one leaders, and with we partner we naturally out are to definitely customers assessed it. confidentiality that of don't fortunate enough

takes part other our any other revenue and actually further diversify need a the revenue in solution And to businesses other the there that's side exactly The markets, that's growing of parts doing. the and and your of world base. what streams grow the total growing part of us fast customer of we're is it,

driven current on. mitigate at great that risk, end I reading we trajectory spot that drive. was momentum early that's this mean, a growth of day, sustain the the to and to or that of company's but by You're and the powered leverage growth success, want

Operator

of Capital. Your next Eight question Please with go is [indiscernible] line from ahead. the

Unidentified Analyst

on are how Dutch outside for strategy? management taking thanks management, player market you're seeing outside seeing the are with had the a markets in the to that where think player any and with in morning respect strong my maybe platform obviously wanted the those ask last rollouts conversations traction? guys but to and But good question account guys, account strategy market, traction quarter, Czech the Dutch of mentioned questions. Hi those that I you other market. of platform the how the I going

Ronen Kannor

opportunities. the have market is [ph] interesting We of one opportunities. PAM just some Czech Definitely

opportunities which the climate as around by changed sort in definitely, have can that by meaningful to regard, competencies. and certain is to technical that those of in basis, conversations some a outsourcing in more in more already that we think, their towards Other the entire in and something European order markets, are assets -- But us. we're someone are deals that has there we proposition have all to powered Dutch case in it. is resources regulated naturally online and have track you opportunity profitability, mentioned, shifted pluses, record intimate a Yaniv of feel there operators need PAM around comprehensive also and evaluating the I lot more approach, means because push in scale. relationships of sort As market and case through But imagine,

managing I pivot to product our technical think and a realize business. operators that is their some material, full changed which turnkey things stack

So managed someone some them ancillary at also they're provide but and partner just we that cannot with services, all to have hand. that looking services, that, with

we -- partner So can we scale we're markets. local to like-minded operators that make with achieve sure that in just want

they definitely So, definitely and on there, and we and partners last it's that the on I the us. bet just months, the few been opportunity is healthy very to bet pipeline say. healthy. right need would sure make a We It's

Unidentified Analyst

Obviously customization released. of how you us the from games mentioned the Okay, this guys been proprietary great. -- proprietary how have that's past traction And the then, I are just release released those title to Because press a about a content, you of to year. required give -- for the I your XX of the those can kind level balance translated Maybe mentioned But think be there. gone? morning of have on there's that's seeing think guys sense in have every single new through learnings you releases games be strong guys markets?

you've maybe new and So that could your current learnings taken apply markets of can portfolio that you potentially to any from how kind accelerate?

Yaniv Sherman

Yes, you're right. absolutely

an is and content form and data-driven. development development game think it's I art definitely very

the we RGS, game complementing share also and The as So, back just titles. data they're and works they're the set initial the success than main and taking Atomic and Magic key and itself. demonstrating And some a what partners, but early focus it, initial all I've and us the we've is the more some features. we've success, what functionalities few content other and Egyptian server also game seen the engagement Slot Lab math And features from building and deployed of it's that us but with mentioned, doesn't internally not sorts player like is had. a start take can behind way both that our see designed, complicated if to deployment just enabling allowing

a team. North greatest of for state-by-state is you're set in distribution built those that proprietary content proprietary we've embark assets that is implementing North can also to development or definitely in collect or we success has definitely against one that we've we've proven sometimes flywheel data the it's for cases, start a in we're something collecting the enable And data major develop and us Content forward. adapted had sort of that development enhance to of you I that that able just on looking set game it's focus So it, start distribution a art will America creative Europe in and that it sort even and that think that. with math, the had a to part also it. the in tweak on. to to with some is have way This develop customized But data outside approach team then markets. the very going us is not the The America our

Unidentified Analyst

Okay, great. me, from line the here, and pass one I'll guys. last And then,

on that going. market, of that's seems Italian where we've I the the like good a got think sense Just U.S.,

would You playing be just kind the and market out in the next do traction of for said guys, How kind that see you're Italian some of guess I market. U.K. you seeing the breadth? good its size you given frontier

Yaniv Sherman

it's the if market. second I biggest is, The second correctly, remember

to it is, early We've some different content, had and taken of our sets. land-based that European we've would you a with, different our data that but are like Southern flavor look two content effective preferences. to we develop incumbents Italy, Italy -- of somewhat exclusive look developed that focus content in this, some The so to of at Europe. some it's submarkets distributed a we tend requires see in Northern that midterm venues, research aggregated to just that it very more requires need certain if conscious adapt to put and definitely sort it specific it's localized. different local to other is, just in it Italy focus it's of something you like its also localize But we need longer-term it customer has All-in-all, able it near there market it, is much Central internally divided attention. partner terms Italy size, size into we very we're also were put and where or success in of games, markets. So call both because, and to let's also also are the markets is to to other Central Actually very again,

mid integration just let's something the So towards longer assume I the key flavor, naturally, developed technical local we itself focus make have a market sure markets. will of so market that payout, term, and would will to to games And on we the that involved that in resources have RTPs that growth that local our we that is see but on, need sort our to focused forth.

Unidentified Analyst

thanks. Great, guys. the Best of working Yaniv, to forward looking on role, And congrats you. and with luck

Yaniv Sherman

you. Thank I that. much. very appreciate Thank you

Operator

remarks. Mr. for closing call back concludes today's of call. Q&A any portion This to Spielberg the will turn the I

Yaniv Spielberg

so I'd our on in presentation. Yaniv hope you like that. to that presentation. the everyone welcome QX months you morning, congratulations everyone. for Thank Yes. to, we and joining And Sherman on speak like We'll [indiscernible] the said, as three again team, this we Thanks, enjoyed

Operator

joining Bragg Thank the quarter Group's second conference Gaming XXXX call. for you

now disconnect. may You

Bragg Gaming (BRAG) 13 Aug 222022 Q2 Earnings call transcript