Ladies and gentlemen, thank you for standing by, and welcome to the Bragg Gaming FY 2020 earnings call. At this time, all participants are on a listen only mode. After the speaker presentation, there'll be a question and answer session. To ask a question during the session, you need to press star one on your telephone. If you require any further assistance, please press star then zero. I would now like to introduce this conference call, Mr. Yaniv Spielberg, Chief Strategy Officer. You may begin. Thanks, Kelvin. Good morning, everyone. Thank you for joining our fourth quarter and 2020 earnings conference call. Really appreciate your participation. I'm Yaniv Spielberg, Chief Strategy Officer for Bragg Gaming Group. I'll be leading today's call along with Bragg CEO Adam Arviv and our CFO, Ronen Kannor. In this call, we'll review Bragg's financial and operating results for the fourth quarter and the full year of 2020. Following our prepared remarks, we'll open this conference call to a question and answer session, which will be led by Adam. I'll start the call with some brief cautionary remarks regarding certain statements that may be made on this call. Certain statements made on this conference call and our responses to various questions that you may ask may constitute forward-looking information or future-oriented financial information within the meaning of applicable securities law. Statements about expected growth, respective results, strategic outlooks and financial and operational expectations, opportunities, and projections rely on a number of assumptions concerning future events, including market and economic conditions, business prospects or opportunities, future plans and strategies, technological developments and anticipated events, trends, and regulatory changes that may affect the corporation, its subsidiaries, and their respective customers in industry. While we believe these assumptions to be reasonable, they're subject to a number of risks, uncertainties, and other factors, many of which are outside the company's control and which could cause the actual results, performance, and achievement of the company to be materially different. There can be no assurance that these assumptions or estimates are accurate or that any of these expectations will prove accurate. For a complete discussion of these factors, please refer to our recently filed press release and our publicly available disclosures, which we will file this morning on SEDAR. Thanks for joining, everyone. I will now provide a business update, and I will walk you through our recent operational and corporate developments. Following my comments, as I mentioned, our CFO, Ronen Kannor, will review our key financial results for the fourth quarter and the full year. Then Adam will take questions from the participants. I am very happy to announce that we have had an exceptional strong quarter, the best to date and year, achieving exceptional growth and accelerating our progress on our company’s strategic plan. We welcome two new board members to the board, Paul Godfrey, who all Canadians and maybe even the Americans know, and Lara Falzon. Very excited to have them. Lara Falzon was just appointed starting this month. We also announced yesterday the planned move of Bragg Chair of the Board of Directors, Richard Carter, into the CEO role effective May 1, 2021, and we're very excited for this move. Co-founder and Bragg interim CEO, Adam Arviv, was chosen to no longer hold a formal role within the company, but will continue to be actively involved in the company as a significant shareholder. Adam Arviv will step down from the board and the CEO position when Richard takes on. Bragg's stellar performance in 2020 also prompted the company's graduation to the TSX Senior Exchange in January, moved from the TSX Venture, which we were trading on for about two years. Very excited to be on the big board in Canada and looking forward ahead. ORYX Gaming performance has been exceptional. For those of you who are first on our call, ORYX Gaming is an innovative B2B gaming platform technology provider. We offer full turnkey retail, online, mobile, and iGaming solution, as well as an advanced content aggregator with sportsbook lottery and marketing and operational support. ORYX has continued its rapid growth trajectory through 2020, building on the foundation established last year in 2019 and accelerating its path as we continuously enter new global jurisdictions. I'd like everyone to note that on the call, both myself and Ronen will use euros, which is our operating currency. For the CAD equivalent, you can look at our press release that was released this morning. Revenues grew rapidly in 2020, increasing by 74.6% to EUR 46.4 million. We also look at wagering revenue as a measure of the activity through the ORYX platform. The wagering revenue has increased significantly, rising 73.5% to EUR 11.8 billion as compared to EUR 6.8 billion during the full year of 2019. Another KPI that we look at is unique players. We've seen 113% increase in unique players using Bragg Gaming and content, 5.87 million, up from 2.75 during the same period of 2019. We continue to transform the business into a global player in the B2B gaming sector, as evidenced by our recruitment of Richard, Paul, and Lara, and by our adherence to three pillars of growth that we set out at the beginning of the year. The three pillars that we focus on are enhancing our technology and product offering to offer a full tech stack and be in line with the new changes in the industry, diversifying our revenues and expansion into new geographies, collaborating on key players in each jurisdiction through strategic partnerships and content deals. Talking about the enhancement of our technology and product offering, ORYX primary growth is derived from its casino product and aggregator platform. ORYX now offers more than 10,000 seamlessly integrated casino games that can be accessed through a single player account. These games are provided by more 100 of the industry's leading content studios such as Red Tiger, NetEnt, Evolution, Amatic, and Pragmatic Play, and also include exclusive ORYX RGS remote gaming server studios such as Gamomat, Peter & Sons, CandleBets, Arcadem, and Kalamba Games. We continue to launch new games on a quarterly basis and continue to sign partnerships with these and other providers in order to provide a full stack portfolio of games for our customers. This is a very important point for us. The exclusive and unique content that we offer provides us with a unique competitive advantage in the market. We continue to invest in platform enhancements, including new data-driven end-user engagement tools, build on gamification engines such as leaderboard and tournaments. Even with our rapid pace of expansion, we've been able to maintain our ability to close contracts and integrate new content and customers at a significantly faster pace than industry standard, as quickly as two to four weeks, rather than the industry standard of sometimes three to six months. This is critical in ensuring that we stay ahead of the latest trends in gaming. We also work on diversification and diversifying our revenues. We continue to add new customers and expand our global footprint. We've signed agreements with 21 operators in the quarter, just the fourth quarter, and 54 operators for 2020. Our pipeline continues to grow, and we've retained 100% of our customers since Bragg's inception in 2018. We've also focused on signing bigger, longer-term deals with larger operators who are able to offer more of our platform services. Although our customer retention is excellent, in 2020, we decreased our dependence on our top 10 customers from 71% in 2019 to 58% in 2020. We also look at expansion into new markets. We entered five new regulated markets in 2020, including Spain, Denmark, Estonia, Latvia, and Mexico. Looking ahead at 2021, while the global outbreak of COVID-19 has had significant impact on global economy in 2020, and continues to affect the world in 2021, Bragg has not experienced a negative impact on revenues but has actually experienced a significant revenue in traffic as people look for entertainment that they can enjoy in their homes. 2020 was an extraordinary year for Bragg. We're continuing the momentum into 2021. Our 2021 year strategy continues to focus on rapid expansion of our B2B gaming technology solutions through ORYX Gaming. We will continue to invest in our platform and integration capabilities in order to provide the best products and services for our customers. We'll focus on expanding our presence in global regulated markets and strengthening our client base. We're also well capitalized, as you'll hear soon from Ronen and Adam, and positioned to move ahead and execute on our strategic priorities. As we have already indicated to the market, the U.S. market is a key target for us at Bragg, and we concentrate on increasing our share of this rapidly expanding market, with iGaming being a larger vertical than sport betting. The latest numbers that we've seen is that the total addressable market for iGaming is anticipated to be greater than $40 billion in the U.S., at 100% legalization, with the total addressable market for sport betting at just over $22 billion at full legalization. We also believe that the Canadian market has strong long-term potential, and with us being a Canadian company and a strong Canadian representation on the board, we believe that we can achieve great numbers in the Canadian market. The TAM, or Total Addressable Market, for both sport betting and iGaming in Canada is projected to be anywhere between EUR 5 billion-EUR 8 billion with full legalization. We continue to explore M&A opportunities in the U.S. and globally to allow us to enter the market, potentially integrating content providers who will provide an entry into the new markets by providing existing licenses and revenue or competitors where significant synergies can be realized. The company is also in advanced discussions with incremental customers across multiple licensed jurisdictions in North America, Europe, Latin America, and of course, U.S. and Canada. With that, I'd like to turn the call over to CFO, Ronen Kannor, who will run through the results. Ronen, to you. Thank you, Yaniv. Good morning, everyone. I'm glad to have you here on the call. As a start, I'd like to remind you all that all figures again, which show reported currency for Canadian dollars you can consider it all in the press release. Fourth quarter highlight. Bragg revenue ended on 31st increased 75.7% to EUR 13.8 million versus EUR 7.8 last year, maintaining a solid quarter-on-quarter since Q4 2019. The revenue generated by customers were up by 16.1% to EUR 3.2 billion, EUR 2.1 billion in the fourth quarter of 2019. We also seen an increase of 17.1% in unique players using Bragg games and content up to 2.5 million from the 1.10 during the comparable period of 2019. The adjusted EBITDA increased 70.8% to EUR 1.3 million from EUR 0.8 Increasing 9.4% to 9.1%. Its professional fee and corporate costs increasing from TSX Venture Exchange to the Toronto Stock Exchange. For the period of five complete, which is in line with the Q4 2019 numbers. For the increase from the same period the previous year by 74.6% to EUR 46.4 million as compared to EUR 26.5 million last year. Bragg's revenue growth was mainly in the games and content services as demand for the group unique games and content proposition continued to grow. The company's growth has been underpinned by continuing investment in innovation, in its technology, and product offering. The adjusted EBITDA increased for the year by 450% to EUR 5.5 million as comparable to last year for EUR 1 million only, with margin increasing significantly by [audio distortion] adjusted EBITDA margin to less than achieve the result of reaching high scale and tight cost control. The net loss for financial year 2020 was up to EUR 14.6 million from EUR 11.9 million last year. Primarily, this is the remeasurement of deferred and continued consideration and accretion of liability fair values. The cash and cash equivalent post the November fund raise and warrants exercise as of December 31st, 2020 amounted to EUR 26.1 million as compared to EUR 0.7 million only in December 31st, 2019. As of today, the balance sheet has no outstanding debt with positive net working capital. With that, I would like to know that if you're interested, you can find more detailed information of our financial performance in our December 31, 2020 financial statement and MD&A on SEDAR and on our investor relation page of our website, bragggaming.com. With that, I'll now turn the call over to Operator for Q&A session. Thank you. Thank you ladies and gentlemen. If you have a question or a comment at this time, please press the star, then the one key on your touchtone telephone. If your question has been answered and you wish to remove from yourself from the queue, please press the pound key. Our first question comes from Matthew Lee with Canaccord. Yeah, morning, guys. A really great quarter. Just a quick housekeeping question first. Will you be switching over to Canadian dollar reporting in S21, or are we gonna continue to see EUR-based reporting for the year? We believe it's going to be the report. Sorry. Yeah, that's for you to answer. Go ahead, you can answer that. Thanks. No. Yes, Matthew. How you doing? Good morning. Yes, we're gonna still report in EUR. It's our functional currency. Majority of the revenue comes in EUR. We'll see how the year progressing and which kind of, you know, we're currently trading on the Toronto Stock Exchange. We look at it looking forward probably towards the end of the year. We make a decision. We definitely cannot do it in the middle of the year. It's not advisable. There's lots of GAAP and remeasurement need to be done. Towards the end of the year, 2021, we'll take a decision on what report is the best in significant for all shows. That's great. Maybe just a bigger picture question. I mean, when you think about the North American expansion plan for Bragg, can you offer, you know, a little bit more color as to what you're seeing in the market in terms of, you know, the best entrance, for your company as well as, you know, the potential to enter through M&A? You know, obviously M&A is something that Richard and I have been working on extensively. You know, when he comes in and kind of officially takes the helm on May first, I think, in the first few weeks The market will be told a updated version and of our go-forward strategy which will be focused on the North American market. As far as opportunities in North America, there's RFPs that we are actively pursuing on a daily basis and, you know, we're highly active in the North American market currently, you know, on an RFP area. All right. Thanks, guys. That's it for me. Our next question comes from David McFadgen with Cormark Securities. Hi, everybody. A couple of questions. I'll just start off with Germany, if you guys could give us an update. Do you still expect that the new regulation into force on July 1? Last I heard is that there's still some debate amongst various states about actually all agreeing on them. If you could give us an update there. Hey, David, good morning. Yes, you're right. I mean, the German market continues to grow, but the legal framework's still cloudy. It continues to proceed, but as you said, there's some exchanges that are happening. From what we understand and from our discussions with our council, Saxony would, it seems like will be adopted as the regulator. They'll set up the office, and we expect that they'll start giving out licenses in the second half of the year. There's been some discussion on when exactly that will be. Of course, we continue to monitor the situation and we'll update the markets, if and when required. Okay. Can you give us an update on the Netherlands? I know you guys announced a pretty significant partner in the Netherlands, and that's supposed to go live with online gaming this year. Can you give us an update there and when it's exactly expected to go live? Yeah. We've signed a very big deal in the Netherlands with JVH. JVH is the largest private land-based operator in the Netherlands. It's like our Great Canadian Gaming. The Netherlands is expected to go online. It's already done. The law is passed in Q4 of 2021, of this year. We will provide the iGaming platform and the Player Account Management, and Kambi, our partner, will provide the sportsbook. We're expecting that to go live in Q4. We're working on the integration as we speak. Okay, great. Canada, there's a lot of discussion in Canada, well, particularly with Ontario, about allowing private operators to do online gaming in Ontario. I think it's Q4, Q1 of next year where it's expected to go live. I was just wondering if you could comment on your plans there and whether you expect to announce any partnerships in the short term. On that note, I think Adam mentioned that we're very active in the U.S., and I'll echo that and say that we're very active in the Canadian market. I can say without getting into too many names, that all the Canadian operators that you could think of or potential operators are working on their Canadian strategy. You're right by saying that Q4 and Q1 are the dates that potential Canadian operators have in mind. We're active in pursuing RFPs and RFIs, and we're hoping to be able to announce something very soon to the market on our Canadian opportunities. Okay. Great. I think most people expect Ontario to go live Q4, Q1 next year. I haven't heard much chatter about any other provinces doing the same. Can you give us any feedback there on potential other provinces in the short term? Yeah. We've heard other provinces as well. There's some discussion about Quebec, there's some discussion about B.C. Again, without getting into too many details, we've been discussing it with various actors in the various jurisdictions. I think that what you think about the market is probably what the operators are thinking. Q4 of this year, potentially for licensing in Q1 2021 to go live. Okay. Lastly, just on the U.S., I was just wondering, can you give us a comment on what markets or what states you would expect to be more active in the short term? Obviously, we're going to focus on the states that are casino-focused for online casino businesses where iGaming is allowed. We're focused on that area, which you may think probably at worst. Yeah. Just to echo that, we've, of course, as part of our Seneca deal, we've submitted our applications for New York. We're working on New Jersey application as well. The plan for us would be, like Adam said, to follow where iGaming is legal. Penn, Michigan, and others. Yeah, we hope to have a substantial update for you guys very soon. Most likely when Richard joins, especially as we continue to pursue opportunities in the U.S., both in terms of clients and M&A, of course. Okay. Then just looking outside of the markets that we've talked about, are there any other markets that you see some pretty significant opportunity in the short term? I think Latin America continues to be a big opportunity for us. Ultimately, as a general global move, there is a move towards online gaming legalization, and I think it presents a significant opportunity for us. The Netherlands is one example, but South America and Eastern Europe are going through a similar shift. We're focused on these markets, and we continue to go after every opportunity globally where we see that the current is shifting towards online gaming. Mm-hmm. Okay. Thanks a lot, guys. The next question comes from Colin George with Haywood Securities. Hey, good morning, guys. Congrats on the quarter. It's really impressive across all metrics. My first question comes with regards to the expanding margins, and where you kind of see that going. The margins have expanded quite substantially while diversifying your customer base and increasing revenue. If you could just provide a bit more color on that and how that's achieved and where you see that going, that'd be great. Sorry, I feel like I missed the first part of the question. What was that? Just a bit more color on the margin expansion for both EBITDA and overall of the business. You kind of diversify your customer base and expand into new markets. You'd almost expect that to kind of stay flat, you've achieved quite a substantial expansion over the past year. Absolutely. Ronen, do you want to take that? Sorry, guys. Thanks, Colin. Morning. I think I'll take up the margin question. We had quite an intensive year. Onboarded a lot of operators and customers during the year. Just about margin, as you know, majority of our revenue comes from gaming content, which about 80% gaming content and about 7% comes from gaming platform. Yeah, the more we sell gaming products, that gaming segment, where the cost of goods associated with that, the results, the cost of goods and the mixture between gaming platform, which is the majority of any profit, any cost goods together can get the mix to be margin by 2% and three percentage points. Going forward, we're working on to improve that by producing our own content, which is to improve the margin. We're also trying to sell more or introduce more of our gaming platform, which is also going to be improving margin accordingly. As I said, this growth this year became significantly. Although we increased the revenue by 74%, the gross profit and the profitability is actually declining. This is something we knew. This is actually what we're focusing on right now. Okay, thanks. That's helpful. Just maybe on guidance. During the Q3 call, you provided guidance both for Q4 and into 2021. You were in line on the EBITDA, kind of surpassed your revenue guidance. Are you providing any guidance for 2021, an update to the previous one, or maintaining that relatively modest guidance that I provided at Q3? Sorry. Go ahead. Subsequently, with Richard and I working on a North American strategy for a true expansion into North America, we decided to not provide guidance right now. I think we lost you. Got cut out a bit. Did you hear me? Yeah, now we can. Yeah. Sorry. I was saying that we provided an update for our guidance on January 26th, and we've decided to hold back on giving guidance now because we're working on our U.S. and Canadian strategy. There was no point to update it or provide any new guidance, but we'll provide new guidance at our next earnings. Okay. Thank you. That's helpful. That's all for me. Thank you. Thank you again, ladies, and gentlemen. If you have a question or a comment at this time, please press the star, then the one key on your touchtone telephone. Our next question comes from Edson Lang with Stifel. Good morning. Thanks for taking my question. Circling back on the M&A question. With a year of COVID behind us, can you talk about the impact on valuation for some of the targets you're looking at? Have the recent new lockdowns around the globe impacted your ability to close some transactions during the pandemic? No, the COVID's actually helped our business. Everybody that has lost their brick-and-mortar business is actively pursuing an online business. We're one of the few that they come running to, so it's been great for us. Also, I think there's a change in habits. You're going to see, even after COVID, you're going to see a lot of the customers not go back to their old way of gaming. I'm sure we'll retain a lot of those customers, and our clients will retain a lot of those customers. As far as M&A goes, as you're aware, it's a very hot, you know, valuations. We're going to make sure that we start opportunities that we buy right, because we understand the market moves all over the place, and we're looking for long-term benefits for our shareholders. Okay. That's good color. Can you speak to the product roadmap for Bragg for 2021? I think the press release called out analytics and bonus features. Are there any other major product or service launches worth noting for the upcoming months? Thanks. That's right. Now that we have that many customers, over 100 customers, you can imagine that we aggregate a lot of data. That data is very useful for us, and we drive a lot of significant changes to the platform and the services that we offer from data analytics. We continue to expand on these services, which ultimately allow for better gamification engines that we embed into the platform. In terms of additional kind of products for the roadmap, we continue to focus on that and enhance the current product that we have, whether it's the sportsbook or the iLottery product offering that we have. Ultimately, this will all be complemented by M&A, whether it's games and content, so game studios or complementary businesses to us. Okay, awesome. My last question is, can you talk about the penetration of the existing customer base? What has it been historically, and what's the opportunity here to expand the current suite of services and kind of upsell additional services to this customer base? When we sell the customers, the bigger customers, we normally start with the games and content. I think that, for those of you who've seen our presentation. One of our competitive advantages is the exclusive and unique content on the platform, and I referred to some of the content during the call. Gamomat, Peter & Sons. These are studios hosted on our remote gaming. It's a great foot in the door for us because any operator that wants the content will have to come to us. That opens the opportunity because ultimately for us, integration is integration is integration. Once they're integrated onto the platform, it's easier for us to upsell them existing products and services and new products and services, which means that when we open the door with the exclusive content that we have, we have the opportunity to increase the wallet share from our customers by upselling to them other products and services that are on the platform, whether it's the aggregator or the Player Account Management or the sportsbook or the iLottery product, instant win games. The entry point for us mostly is games and content, which we have a competitive advantage on the exclusivity with these titles, and then the rest is just following up from that. Awesome. Thank you. I'll pass the line. Our next question is a follow question from David McFadgen with Cormark Securities. Oh, thank you. Sorry, I forgot to ask you. Can you give us an update on your NASDAQ listing or plans there? We're going to provide that update to the market on Monday. On Monday, you said? Yeah. Okay. Thank you. Our next question comes from [Isaac Vadmosky] a private investor. Yes, I was about to ask also about the plans to register Bragg on the NASDAQ. Any target date? Do you plan a reverse split in order to qualify to be listed? You should be aware that some brokers don't let them buy Bragg in the U.S. Yes. Again, on Monday, we're going to tell the market our plan. Okay. Thank you. I'm not showing any further questions at this time. Well, we'd like to thank everyone for joining the call. We're looking forward to updating the market in the next few weeks on more exciting news that are coming out. Thanks, everyone. Thank you very much, everyone. Ladies and gentlemen, this concludes today's presentation. You may now disconnect and have a wonderful day.