Bragg Gaming Group secures new financing from the Bank of Montreal

Agreement was set while confirming its recent cyber breach has been contained.

Bragg Gaming Group has entered a financing agreement with the Bank of Montreal (BMO), securing access to up to $6m in credit facilities. 

The deal allows the company to replace its prior promissory note indebtedness with a more flexible structure backed by a leading North American financial institution.

According to Bragg, the new facilities are designed to support ongoing working capital and general corporate purposes. 

They are secured against company assets, with conditions including debt-to-EBITDA and coverage ratio agreements. 

CFO Robbie Bressler said the arrangement “strengthens our balance sheet and provides us with a flexible capital structure to execute our strategic plan.” 

CEO Matevž Mazij added that the shift supports Bragg’s focus on margin growth and operational efficiency, noting the company has already achieved €2m in annualised synergies and remains on track for a 20% Adjusted EBITDA margin in H2 2025.

“Securing this BMO facility represents a critical milestone in our strategic plan to strengthen Bragg’s financial foundation and accelerate value creation for our shareholders,” he added.

Good to know: Bragg reported 49% year-over-year revenue growth for Q2 2025

Alongside the financing update, Bragg confirmed that the cybersecurity incident first detected in August has been contained. Independent experts supported the company’s response and Bragg stated there is no evidence that personal data was compromised. 

Operations, revenues and profitability were not affected and costs associated with the breach are not expected to be material.

The company has since reinforced its digital defences using lessons from the investigation.

Alex Rivera

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My goal is to explain how gaming, esports, and betting intersect in ways that readers can actually understand, without stripping away the entertainment that makes the space compelling.

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