Bragg Gaming Group Inc. (NASDAQ:BRAG) Q3 2023 Earnings Call Transcript

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Sid Dilawari: Okay. Thanks. And then just going back to the PAM extension agreement with Entain and BetCity. Nice to see obviously. Your PAM market share in the Netherlands also remains resilient. Any commentary you can provide on the competitive landscape there? And if you have opportunities now with more localized content to penetrate further in that market with more operators other than Betcity.

Matevz Mazij: Yes, we are – we have established ourselves as a leading PAM solution provider in this market. We believe that we have more opportunities to grow as the PAM and aggregation solution provider in this market. And we also believe that we’re going to be able to leverage our position as a leading PAM solution provider and aggregation solution provider in the market to grow our wallet share, like I said, in the market. And I think that Netherlands has been a great market for us in the last – over the last 2 years. And we believe that we are going to be able to maintain our position in the market moving forward.

Sid Dilawari: Okay. And then just one last one for me. Just on the M&A landscape here. We’ve seen some industry consolidation over the last few weeks, as you also alluded to in your prepared remarks. Do you see any opportunities in the near-term to be acquisitive at accretive multiples? And if so, would you focus be primarily on gaming studios or somewhere else?

Matevz Mazij: Ronen, do you want to take this question?

Ronen Kannor: Yes, sure. Thanks, and thanks for the question. We can see from recent M&A activity in the market that Obviously, capital markets are undervaluing companies, successful companies, and we’ve seen recent examples in the acquisition of Aristocrat of Aspire and obviously, the recent acquisition that was announced yesterday between Segasami and GaN, companies that are trading at much lesser valuations than what companies are willing to pay for in terms of cash. And that, in our opinion, is the true value of companies, and I think that is not in the capital markets today. That’s on the landscape in general. But in terms of in we have – we have anything that we need in-house in terms of the content studios, in terms of the distribution agreements and especially the technology.

We’re looking to continue to grow the business and expand within our customers and to new customers and in new jurisdictions. And if there’s an opportunity on us to be acquisitive, then of course, we’ll look into it. And of course, as a public company, there are a lot of other opportunities to be in the M&A space, and that’s something that we are open to and always are on the lookout for.

Sid Dilawari: I’m sorry. So in terms of potential targets would they primarily be focused towards content producer as in gaming studios or somewhere else?

Ronen Kannor: Mostly content. I mean we have all the tools in-house that we need in terms of the technology, the distribution and the licensing. And so if we were to be acquisitive, it would be about content and differentiated content that is localized to the jurisdictions where we operate in and what the jurisdictions that we want to operate in.

Sid Dilawari: Okay. Thanks for the clarity. I’ll pass line.

Operator: Thanks, Sid, and thanks to all our callers with questions today. And with that, I will now turn the call back over to Yaniv Spielberg for closing remarks. Yaniv, the floor is yours.

Yaniv Spielberg: Guys, Thanks everybody for joining our call. Thank you for being interested in Bragg. We’re closing another very successful quarter, and we look forward to hosting you on our next quarterly call. Have a great day, everyone.

Operator: And ladies and gentlemen, that does conclude today’s call. Thank you all for joining, and you may now disconnect.

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