Bragg Reports 150% Surge in U.S. Revenue in Q1 2025, Eyes Brazil and Caesars Deals

Bragg reported Q1 2025 revenue of US$28.6 million, a 27% increase year-over-year, with U.S. operations alone growing 150%. The company also posted a 56% gross profit margin, nearly 20% growth in adjusted EBITDA, and a 63.5% rise in operating cash flow to nearly US$5 million.

Revenue from proprietary content rose by 62% year-over-year and now accounts for 15.5% of total revenue. In January, Bragg entered Brazil’s regulated iGaming market and launched an exclusive content partnership with Caesars Entertainment, including the debut of the “Caesars Palace Signature Multihand Blackjack Surrender” table game.

With continued expansion in Canada and potential U.S. market openings—such as pending legalization in Ohio—Bragg is positioning itself as a rising B2B leader, banking on diversified markets and high-margin content for sustainable growth.