UK debut will significantly increase Bragg’s addressable market reach with supply of platform and content in the world’s largest regulated online gambling market
TORONTO, November 22, 2021 – ORYX Gaming, a Bragg Gaming Group company (NASDAQ: BRAG, TSX: BRAG), has been granted a UK license, a significant milestone which will see the Company enter one of the world’s most mature iGaming markets and substantially increase its global reach to the largest online gambling market.
The supplier license, awarded by the United Kingdom Gambling Commission (UKGC), will enable Bragg’s ORYX Gaming to provide its content to a wide range of operators, including some of the biggest and most established brands in the industry.
An initial batch of ORYX’s best performing slots have initially been certified for the UK market, including games developed by ORYX’s in-house studio and exclusive titles from Gamomat, with these titles expected to begin rolling out with operator partners before the end of the year.
The total addressable market (TAM) for the online casino sector in the United Kingdom in 2021 is approximately US$ 5.5bn (£4.1bn) according to H2 Gambling Capital, making it the largest regulated iGaming market in the world.
The license represents an important step in Bragg’s growth strategy as it continues to further grow its market share in regulated jurisdictions and secure entry into new markets including large established markets such as the United Kingdom.
The company expects its global market expansion initiatives will increase its TAM six-fold in 2022 to more than US$18bn, of which the UK market will account for just under one third.
Chris Looney, Chief Commercial Officer of Bragg Gaming Group, said: “The UK online gambling market is unmatched in terms of size and maturity and the world’s leading operators all have a presence in the jurisdiction.
“Receiving a UK supplier license offers significant growth opportunities for Bragg as we bring first-class iGaming entertainment to UK players together with local operator partners. This license and our pending entry into the UK market before the end of the year will help to accelerate our international growth trajectory and offers another proof point of the success we continue to achieve with the execution of our global market expansion initiatives.”