Bragg Gaming Group to cut 12% of global workforce – Management

iGaming content and technology provider Bragg Gaming Group has announced it will reduce its global workforce by approximately 12% as part of a wider strategic restructuring effort.

Detailing the initiative on Thursday, Bragg said the restructure is designed to “realign” its organisation. This, it added, would help improve cost structure, drive EBITDA growth and allow it to achieve sustained net profitability faster.

In terms of staffing cuts, Bragg said the measure would cost approximately €1 million ($1.2 million) during Q1 of 2026. However, it added that it would help contribute to total savings of €4.5 million, together with wider restructuring.

Bragg CEO: Business is ‘undervalued’

Commenting on the news, Bragg CEO Matevz Mazij said restructuring was necessary amid certain challenges Bragg faced across its operating markets. He referenced “complex” regulatory compliance requirements and recent tax headwinds across key regions.

However, Mazij also spoke of more positive developments such as emerging market opportunities and an increased focus on short-term profitability.

“We believe that we are in the enviable position of having great technologies, assets, people and future prospects,” Mazij said. “After securing key hires in 2024 and 2025, we believe aggressive operating expense reductions and organisational realignment are the final steps to maintain our cash runway, drive EBITDA growth and achieve cash profitability.”

Mazij believes Bragg is currently undervalued by the market. He said improving cash profitability will help address this and also make the business stronger in meeting consolidation opportunities.

“Our strategic restructuring is designed to capitalise on our strong foundation. It will position us extremely well for organic growth and concurrent market consolidation opportunities,” he said.

The company will provide further insight into its new operating model and 2026 strategic initiatives within its 2025 FY results.

Net loss increased in 2025

Bragg’s most recent set of financial results revealed an increased net loss for the business. During Q3, net loss widened from €1.2 million in 2024 to €3 million during the three-month period to 30 September 2025.

Operating and revenue costs were higher in the quarter, with this leaving an operating loss of €1.2 million, compared to €402,000 in the previous year.

The Q3 results publication also included a round-up of Bragg’s financial performance in the 2025 year-to-date. Revenue in the nine months to the end of September was 4.8% higher, with gross profit up 11.5% to €42.7 million.

However, similar to Q3, spending in the period increased and again remained ahead of revenue. As such, operating loss widened from €2.9 million to €5.2 million, while net loss after tax more than doubled year-on-year to €11.6 million.

Bragg maps out AI plans

In a statement mapping out the restructuring, Bragg said it did not include the expected positive impact of its recently announced AI initiative.

In early January 2026, Bragg announced a strategic partnership with iGaming data science specialist Golden Whale Productions. This will see Bragg leverage Golden Whale’s advanced machine learning and proprietary AI models to improve predictive intelligence capabilities within its player account management platform.

This partnership, Bragg said, will support its goal of becoming an AI-first company by 2027. With this, Bragg will aim to have an AI-enhanced product as standard in over 90% of launches by next year. This will be in addition to three-quarters of its operational workflows being impacted by AI.

“By fuelling the exploitation of AI-led technologies, we are creating opportunities to reduce costs and foster greater improvements to our operational leverage, ensuring excellence across the business,” Mazij said.