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Bragg Gaming Group says 2020 guidance remains on track despite coronavirus outbreak

The gaming company told shareholders that “growth is ongoing” thanks to a strong first-quarter performance and record revenues

Bragg Gaming Group -
Bragg specializes in identifying online gaming opportunities with a focus on both B2B and B2C gaming companies

Bragg Gaming Group Inc (CVE:BRAG) (OTCMKTS:BRGGF) told shareholders Thursday that “growth is ongoing” thanks to a strong first-quarter performance and record revenues.

The company’s comments came in a business update in light of the global coronavirus pandemic, which has caused a worldwide health crisis and disrupted financial markets around the world.

Toronto-based Bragg said that its management is “actively tracking” the impact of the virus on the gaming industry and has not made any amendments to their 2020 guidance.

READ: Bragg Gaming's ORYX Gaming teams up with CasinoSecret to integrate ORYX Hub

While the outbreak has led to the cancellation of most major sporting events and the closure of physical casino locations, Bragg derives the majority of its revenue from online casino operators.

The company said it has an established presence and strong relationships with operators like Leo Vegas, Mr Green and Online Casino Deutschland, positioning it to capitalize on the increased demand for virtual gaming.

“The devastating outbreak of COVID-19 will have an impact on every individual and every business in the world,” Bragg CEO Dominic Mansour said in the statement. “Bragg is by no means an exception here, and we are doing everything we can to keep our staff safe while maintaining operations for our customers.”

Mansour said the firm has transitioned its systems so that employees are able to work from home and implemented strict contingency plans to ensure that its platforms remain up and running.

“My personal sympathies to everyone impacted by the outbreak and we will be sure to keep the business and investment communities up to date on any impacts we may experience,” Mansour said.

Bragg specializes in identifying online gaming opportunities with a focus on both B2B and B2C gaming companies.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Bragg Gaming Group

Price: 0.365 CAD

TSX-V:BRAG
Market: TSX-V
Market Cap: $29.15 m
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