Bragg Gaming Expands Czech Reach With Kings Partnership
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Bragg Gaming Group Inc. (NASDAQ:BRAG) entered into an agreement with Kings Entertainment A.S. (OTC:KENGF), a Czech land-based casino operator, to launch the Kingsbet online business in the Czech Republic. This marks the company's second client in the country for its Player Account Management technology and full turnkey iGaming solution, expanding its reach in the region.Per the deal, the company will provide Kings with PAM technology, exclusive content from Bragg studios, aggregated online casino content via the Bragg HUB and a fully-localized sportsbook integration through its partnership with Altenar. BRAG offers Kingsbet an all-in-one solution featuring powerful automation and marketing tools to manage both casino and sportsbook operations effectively.Additionally, it will support Kingsbet with managed marketing and operational services. The agreement and subsequent launch represent the latest in a series of partnerships through which BRAG delivers its technology solutions to operators in globally regulated iGaming markets.BRAG is optimistic about the deal and aims to assist Kings Entertainment, a prominent European entertainment, casino and poker brand, in transitioning their leading Czech operations online with its comprehensive turnkey solution.By the end of this year, Kingsbet plans to launch a Live casino product. Bragg's platform will support Kings' entry into the Czech market with robust tools and a competitive product lineup.
Kings has a 40% share of the Czech land-based casino market and plans to expand into online gambling, supported by Bragg's technology and expertise. According to H2 Gambling Capital, the Czech online casino market is projected to achieve approximately US $1 billion in gross wins in 2024, suggesting 30% year-over-year growth.
Price Performance
Shares of this Zacks Rank #4 (Sell) company have gained 69.4% in the past year compared with the Zacks Gaming industry's 6.5% rise. The company is benefiting from robust PAM and Turnkey solution customers. Also, focus on strategic partnerships and new online casino games bodes well.
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During the first quarter of 2024, Bragg released 19 new exclusive online casino games, including seven developed by Bragg's Studios. This marks an increase from 11 exclusive games launched in the same quarter last year. Additionally, Bragg introduced online games in the U.S. for the first time from renowned land-based slots developer King Show Games, enhancing its exclusive games lineup for North America. Bragg plans to maintain this pace of expanding its games portfolio throughout the year.
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