Bragg Gaming Group closes acquisition of Drayton International

Bragg Gaming Group, a leading iGaming content and platform technology solutions provider, has announced the closing of its previously announced acquisition of Drayton International.

It completed the acquisition of all issued and outstanding securities of Drayton International for aggregate consideration of US$9,000,000, satisfied entirely through the issuance of 4,500,000 common shares of Bragg.

Bragg said that certain former shareholders of Drayton who received consideration shares are also subject to a lock-up, pursuant to which they may not sell, transfer, dispose of, or otherwise deal in their consideration shares for up to 24 months following closing of the transaction, with 25 per cent of the locked-up consideration shares released at 12, 15, 18 and 24 months following closing of the transaction.

The transaction positions Bragg to expand its presence in regulated U.S. sports betting and horse racing markets through Drayton’s established technology and operational capabilities.

“Drayton gives Bragg a direct, credible entry into the U.S. Advance Deposit Wagering (ADW) market, a diversified portfolio of studio equity interests and proprietary distribution infrastructure that materially expands our content scale,” said Matevz Mazij, Chief Executive Officer of Bragg. 

“Beyond this transaction, our studios continue to expand the breadth of games and features across the platform, including the early application of AI-assisted development tools to help us bring new content to market faster. We see real long-term potential here, and we intend to be direct with shareholders and the market as that work matures,” he said.

Drayton’s portfolio includes equity interests across a number of licensed gaming studios, broadening Bragg’s access to proprietary game content and features that can be integrated into Bragg’s existing platform.

Bragg Gaming Group companies are licensed and regulated by the Malta Gaming Authority.

Changes to the Board

Bragg also announced the appointment of Matt Davey as Non-Executive Chairman of the board of directors, effective as of the closing of the Transaction.

Mr Davey is a gaming entrepreneur and Founder and Chairman of Tekkorp Capital, a gaming-oriented investment fund. Upon closing of the transaction and the offering, Mr Davey, through Tekkorp Capital, holds approximately 10.09 per cent of the issued and outstanding common shares of Bragg on a non-diluted basis.

As part of these changes, Holly Gagnon is stepping down as Chair of the Board and will be succeeded in that role by Mr Davey; she will continue to serve as a director of the company.

The company also announced the resignation of Matevz Mazij from the board of directors. Mr Mazij’s resignation follows his offer to resign in accordance with the company’s majority voting policy after not receiving a majority of votes cast for his re-election.