Bragg Gaming Announces Strategic Restructuring, Reducing Workforce by 12%
Bragg Gaming announced a strategic restructuring, including staff reductions. Following the restructuring, Bragg will reduce approximately 12% of its global workforce. The company expects to incur restructuring costs related to this action of approximately EUR 1M associated with personnel-related termination costs in the first quarter of 2026, and it anticipates annualized cash savings from its staff reductions and other restructuring efforts to be approximately EUR 4.5 million. "We believe that we are in the enviable position of having great technologies, assets, people, and future prospects," said Matevz Mazij, CEO at Bragg. "Nevertheless, given the increasingly complex regulatory compliance requirements, recent tax headwinds across key regions, emerging market opportunities, consolidation in the market and our increased focus on short-term profitability, we needed to take this step now of restructuring the Company's staffing. After securing key hires in 2024 and 2025, we believe aggressive operating expense reductions and organizational realignment are the final steps to maintain our cash runway, drive EBITDA growth and achieve cash profitability. Our strategic restructuring is designed to capitalize on our strong foundation and position us extremely well for organic growth and concurrent market consolidation opportunities. We also believe that the Company is currently undervalued by the market and that improving our cash profitability will help address this issue while also making us stronger in meeting consolidation opportunities as they arise."
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