Bragg acquires stake in Brazil’s RapidPlay – M&A
Bragg Gaming Group, a prominent player in the B2B iGaming content and technology sector, has strategically acquired an equity stake in the Brazilian game development studio, RapidPlay.
Announced on April 10, this acquisition is part of a comprehensive agreement with RapidPlay, which also includes an option for Bragg to acquire a controlling interest in the studio as future strategic opportunities develop.
This collaboration extends beyond mere investment; it establishes an exclusive content partnership that enables Bragg to incorporate RapidPlay’s diverse portfolio into its growing network of licensed operators in Brazil.
All games developed through this partnership will be powered by Fuze, Bragg’s proprietary engagement technology. This technology offers advanced features such as real-time gamification, player retention tools, and promotional capabilities, significantly enhancing both the player experience and operator performance.
Bragg Targets Brazil as a Prime Growth Market
Bragg Gaming Group has been actively involved in Brazil since the launch of the country’s regulated market on January 1 of this year. The company reports partnerships with over one-third of licensed operators and is keen to broaden its footprint in this burgeoning market.
RapidPlay will play an integral role in these expansion efforts. Founded by a group of industry veterans, RapidPlay provides localized support and expertise tailored to Brazilian operators. The company’s LatAm Regional Director, Sara Mosallaee, and Senior Account Manager, Amanda Alexandrini, will spearhead this initiative from their São Paulo office.
Expressing enthusiasm about the collaboration, Bragg’s Chief Commercial Officer, Neill Whyte, emphasized that this partnership aligns seamlessly with the company’s growth strategy in Brazil. Bragg anticipates that the Brazilian market could contribute as much as 10% of its total revenue in the upcoming year.
“This partnership with RapidPlay transcends mere investment,” said Whyte. “It represents a strategic maneuver that fortifies our unique local content offering. RapidPlay’s blend of creative excellence and operational efficiency positions them as an ideal collaborator for our regional expansion.”
RapidPlay’s CEO and co-founder, Rafael Roos Bordignon, echoed these sentiments, highlighting that this alliance would significantly bolster their expansion ambitions.
“RapidPlay was established to deliver authentically Brazilian gaming experiences,” he stated. “Teaming up with Bragg equips us with the scale and infrastructure necessary to amplify our impact. We are thrilled to embark on this new chapter together.”
Bragg Looks to Leverage Record Growth in 2024
This acquisition arrives shortly after Bragg reported its full-year financial results, revealing record revenues of €102 million (£88 million/$114.2 million), marking a 9.1% increase from the prior year.
Gross profits also saw an upward trajectory, climbing 8.2% to €54 million, while adjusted EBITDA grew by 3.6% to €15.8 million. Despite a widened operating loss of €3.5 million, Bragg maintains an optimistic outlook for future growth, especially following the successful entry into the Brazilian market.
Looking ahead, Bragg expects its full-year revenue for 2025 to fall between €117.5 million and €123 million, indicating a potential 17.9% growth from 2024. Moreover, adjusted EBITDA is projected to range from €19 million to €21.5 million, suggesting an impressive 28.2% year-on-year increase at the midpoint.
“Our investments in proprietary content and AI-driven platform capabilities are propelling both revenue growth and enhancing profitability,” stated CEO Matevž Mazij during the financial report announcement.
