Bragg Extends $2M Promissory Note to August 2025, Eyes New $6M Credit Line
Bragg Gaming Group has pushed back the due date on a $2 million promissory note to August 15, 2025, as part of a savvy financial overhaul. Originally set to mature in April, the note owed to entities tied to board member Doug Fallon follows Bragg’s repayment of $5 million of a $7 million note issued in April 2024. The company’s also close to securing a $6 million revolving credit line with a Canadian bank.
Strategic Debt Management
Bragg’s extension of the $2 million note buys time to optimize its finances. The company has already cleared significant debt, including $5 million of the original $7 million note and a $2.9 million convertible bond debt fully settled by December 2024.
The new credit line, expected to close soon with a Schedule I Canadian bank, offers up to $6 million with lower borrowing costs and more flexibility than the promissory note.
Bragg plans to use cash reserves to pay off the remaining note, freeing up room to tap the new credit for working capital, growth projects, and general operations.
Bragg aims to double down on its tech and market reach. In 2024, the company pumped $12.1 million into software development, up from $9.4 million in 2023, enhancing its Player Account Management platform and Bragg HUB.
It rolled out 77 new proprietary games globally, including 46 for North America, boosting margins with high-value content. “We’re investing heavily in our tech stack and talent to scale the business,” a Bragg spokesperson noted.
Expanding Across Markets
The financial moves support Bragg’s aggressive expansion. In the U.S., partnerships with BetMGM, Caesars Entertainment, and FanDuel are growing, with plans to deepen market coverage using advanced tools like free spins and tournaments.
Canada offers a strategic opportunity for turnkey solutions, while Latin America, especially Brazil and Peru, sees Bragg delivering content and tech to operators navigating new regulations.
In Europe, Bragg’s eyeing Finland, Poland, and France, aiming to replace smaller tech providers and boost its “share of wallet” with proprietary content.
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