Strategic Expansion into U.S. Sports Betting and Horse Racing Follows Corporate Restructuring and Credit Facility Renewal
Bragg Gaming Group Inc. has successfully completed its acquisition of Drayton International for $9,000,000, satisfied entirely through the issuance of 4,500,000 common shares. Alongside the acquisition closing, the company finalized the conversion of subscription receipts from its private placement, renewed its senior credit facility with the Bank of Montreal, and announced significant leadership shifts on its board of directors.
Acquisition Details and Market Expansion
The acquisition of Drayton International equips Bragg with operational capabilities and studio equity interests designed to bolster its presence in regulated U.S. sports betting and horse racing. Central to this expansion is Advance Deposit Wagering (ADW), providing a regulated online wagering model for U.S. horse racing. Former shareholders receiving consideration shares are subject to a lock-up period of up to 24 months.
Private Placement and Financial Restructuring
In connection with the transaction closing, escrow release conditions for the non-brokered private placement were met. Each warrant permits holders to purchase one common share for 36 months at an exercise price of $2.16. Additionally, Bragg secured the approval of the Bank of Montreal to renew its existing credit facility for an additional year.
Executive and Board Changes
Matt Davey, founder and chairman of Tekkorp Capital, assumes the role of Non-Executive Chairman. He succeeds Holly Gagnon, who will remain on the board. Gagnon was recently named to the American Gaming Association’s Gaming Hall of Fame Class of 2026. Concurrently, Matevz Mazij resigned from the board of directors in alignment with the company’s majority voting policy, though he will continue serving as Chief Executive Officer.
Matevz Mazij, Chief Executive Officer of bragg:
“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. 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.”
