Bragg Gaming Group Strengthens Financial Position with New Credit Facilities

Bragg Gaming Group Inc ( (TSE:BRAG) ) just unveiled an update.

Bragg Gaming Group has secured new credit facilities worth up to $6 million from the Bank of Montreal, replacing its prior note indebtedness and strengthening its financial strategy. This move is expected to reduce borrowing costs significantly, supporting the company’s strategic shift towards higher-quality earnings and sustainable growth. The company also provided an update on a recent cybersecurity incident, stating that it has been contained with the help of independent experts.

The most recent analyst rating on (TSE:BRAG) stock is a Hold with a C$4.00 price target. To see the full list of analyst forecasts on Bragg Gaming Group Inc stock, see the TSE:BRAG Stock Forecast page.

Spark’s Take on TSE:BRAG Stock

According to Spark, TipRanks’ AI Analyst, TSE:BRAG is a Neutral.

Bragg Gaming Group Inc’s overall stock score is primarily influenced by its financial performance and technical analysis. The company faces significant challenges with profitability and cash flow, which are reflected in its negative P/E ratio and bearish technical indicators. However, the earnings call provided some optimism with strategic growth initiatives and partnerships, particularly in the U.S. market. Despite these positive aspects, the stock remains under pressure due to its financial and technical weaknesses.

To see Spark’s full report on TSE:BRAG stock, click here.

More about Bragg Gaming Group Inc

Bragg Gaming Group Inc is a leading global B2B iGaming content and technology provider. The company focuses on delivering innovative gaming solutions and has established partnerships with major operators like Fanatics and Hard Rock Digital.

Average Trading Volume: 17,957

Technical Sentiment Signal: Sell

Current Market Cap: C$94.16M

See more insights into BRAG stock on TipRanks’ Stock Analysis page.