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Bragg Gaming sees US market for sports betting reaching nearly C$6 billion in next three to four years

CEO Dominic Mansour says the opportunity is going to be 'big' and the company is 'very well-positioned' to benefit from this

sports betting
Sports betting is legal in nine US states

Bragg Gaming Group Inc (CVE:BRAG) (OTCMKTS:BRGGF) said Tuesday that the US market for sports betting could reach nearly C$6 billion in the next three to four years.

“This opportunity is going to be big and we’re very well-positioned to benefit from this,’’ said CEO Dominic Mansour in an open letter to shareholders.

Mansour in his mid-year update noted that sports betting is legal in nine US states and three other states have regulations in place but haven’t given the green light yet. Bragg expects 33 states to be fully regulated by year’s end.

“From a B2B perspective we have all the ingredients we need — strong modern technology that’s easy to integrate into existing platforms, a strong network and an aggressive approach to succeed,” Mansour said. “We’re going to need to make an investment into the team to drive the sales pipeline, and potentially partner with others to ensure that our offering is best in market. This is going to move quickly and we’re not going to miss it.”

READ: ORYX acquisition boosts Bragg Gaming's strong quarterly revenue growth

Mansour also touted the growing popularity of its sports-media arm — GiveMeSport. For example, he said a post-match report (the first of its kind) on the recent Champions League football matchup between Liverpool and Barcelona in May was read by more than 1.5 million people within an hour of publication.

“There was no cost to marketing or advertising the story,” he said. “It was just well-written and resulted in dissemination to our 26 million fans and 25 million followers on Facebook.”

Mansour added that Bragg in the third quarter will launch a new website for GiveMeSport to help it compete with UK rivals skysports.com and BBC Sport.

The Toronto-based company also operates ORYX Gaming, a gaming technology platform and casino content aggregator.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

Quick facts: Bragg Gaming Group

Price: 0.445 CAD

Market: TSX-V
Market Cap: $35.76 m

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