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BRAGG Bragg Gaming Announces Q1 2021 Results First quarter revenue increases 62 per cent and Adjusted EBITDA increases by 234 per cent 2021 revenue guidance maintained at € 47M Accelerating rollout of proprietary in - house developed slot content TORONTO , May 13 , 2021 - B2B gaming technology and content provider Bragg Gaming Group ( TSX : BRAG , OTC : BRGGD ) ( " Bragg " or the " Company " ) today released its financial results for the three months ended March 31 , 2021 . " We've continued to build on the strong momentum of 2020 with an excellent first quarter , ” said Richard Carter , CEO of Bragg Gaming . " Revenue is up by 62 per cent year - over - year and Adjusted EBITDA increased by 234 per cent . We've also seen a 54 per cent increase in the number of unique players using Bragg content , have launched nine new operators and our customer pipeline for the remainder of 2021 is expected to continue to grow and expand globally , underpinning future company growth in 2021 . " We continue to invest in our employees , our technology and our product offering , and this has allowed us to commercialize our in - house casino content studio , with our first game recently launched across our network , " continued Mr. Carter . " With further in - house casino games and player engagement tools scheduled for upcoming release , and our acquisition of Spin Games LLC laying the foundation for our strategy of building a tier one vertically integrated iGaming business in the U.S. , Bragg Gaming has never been better positioned for long - term success . " Q1 2021 financial highlights • Revenue increased by 62 per cent to € 14.2M ( C $ 20.9M¹ ) in the first quarter of 2021 , compared to € 8.8M ( C $ 12.9M ) for the first quarter of 2020 , maintaining quarterly growth momentum since Q1 2019 Quarter - over - quarter revenue increase of 3 per cent , from € 13.8M ( C $ 20.3M ) in the fourth quarter of 2020 to € 14.2M ( C $ 20.9M ) in the first quarter of 2021 Wagering revenue generated by customers² up by 52 per cent to € 3.5B ( C $ 5.1B ) compared to € 2.3B ( C $ 3.4B ) in Q1 2020 The number of unique players³ using Bragg games and content increased by 54 per cent up to 2.4M , from 1.6M during the comparable period in Q1 2020 Gross profit increased by 68 per cent to € 6.6M ( C $ 9.8M ) , compared to € 4.0M ( C $ 5.8M ) with an increase in margins from 45 per cent to 47 per cent , mainly attributed to the shift 1 Bragg Gaming's reporting currency is Euros . The exchange rate provided for Canadian dollars is 1.47 . Due to fluctuating currency exchange , this rate is provided for convenience only and may differ from the rate used to calculate 2020 numbers 2 " customer " is a licensed entity that contracts directly with the group for B2B gaming services 3 " unique players " are defined as individuals who made a real money wager at least once during the period .