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Bragg Gaming Group Cutting 19% of its Staff in a Further Restructuring

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Bragg Gaming Group (BRAG.TO, BRAG) on Thursday said it will fire 19% of its global workforce as part of a further set of organizational and operational measures.

The company expects annualized cash savings of around 6-million euros from these measures once they are fully implemented, said the company. It did not say how many employees will be affected by the cuts.

Along with the annualized cash savings expected from a strategic restructuring announced on Jan. 8, the measures are expected to deliver a total of around 10.5-million euros of annual cash savings, added the company.

The company expects to incur 0.6-million euros in costs associated with termination costs in the second half of 2026, in addition to the expected costs of the prior restructuring, said the company.

"The measures announced today build directly on the restructuring we announced in January and move us decisively toward sustained cash generation - leaving Bragg leaner, sharper and well positioned for growth and the market consolidation opportunities we see ahead as the industry further regulates," said Chief Executive Officer Matevz Mazij.

The company's shares were last seen up C$0.02, or 0.8%, to C$2.65 on the Toronto Stock Exchange.

Price: $2.65, Change: $+0.02, Percent Change: +0.76%

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