{"id":283,"date":"2024-06-28T23:01:49","date_gmt":"2024-06-28T20:01:49","guid":{"rendered":"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/"},"modified":"2024-06-28T23:01:49","modified_gmt":"2024-06-28T20:01:49","slug":"prague-gaming-announces-record-annual-and-fourth-quarter-results","status":"publish","type":"post","link":"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/","title":{"rendered":"Prague Gaming Announces Record Annual and Fourth-Quarter Results"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/wha731t_0PY\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Prague Gaming declared outstanding annual and final-quarter financial outcomes &#8211; Finance &#8211; iGB<\/p>\n<p>Prague Gaming revealed record income, gross profit, and modified EBITDA for both the entire year 2022 and the final quarter ending December 31.<\/p>\n<p>Home > Finance > Prague Gaming Announces Record Annual and Fourth-Quarter Results<\/p>\n<p>Prague Gaming declared outstanding annual and final-quarter financial outcomes<br \/>\nPrague&#8217;s final-quarter income was \u20ac23.7 million (\u00a320.8 million\/$25.5 million), up 50.3% year-over-year, while full-year income was \u20ac84.7 million, up 45.2%.<\/p>\n<p>Prague CEO Yaniv Sherman stated the outcomes were &#8220;groundbreaking&#8221; and added that they showed Prague&#8217;s growth throughout the year.<\/p>\n<p>&#8220;Prague had a groundbreaking year in 2022, with final-quarter income, gross profit, and modified EBITDA significantly surpassing our expectations compared to the final quarter of 2021,&#8221; Sherman stated.<\/p>\n<p>&#8220;These record outcomes highlight Prague&#8217;s continued robust momentum as we continue to effectively transition our business from primarily serving the Central European iGaming market to a global, content-driven iGaming solutions provider with a broad footprint in North America and Europe.&#8221;<\/p>\n<p>The year was eventful for Prague. In March 2022, the company received supplier licenses in Ontario and the Bahamas.<\/p>\n<p>It formally completed the acquisition of $30. <\/p>\n<p>Following authorization from the Keystone State, 0m obtained Spin Games in the sixth month of the year.<\/p>\n<p>In the ninth month, the firm secured $8.7 million in funding from the Lind Global Fund. Additionally, in September, Bragg declared its intention to combine all its enterprises and operations under a single, unified brand.<\/p>\n<p>**Yearly Performance**<\/p>\n<p>The majority of Bragg&#8217;s income originated from its activities in the Netherlands. As the online gambling market in the Netherlands only commenced on October 1, 2021, revenue in 2022 was considerably higher than in 2021, experiencing a 533.7% surge to \u20ac36.8 million.<\/p>\n<p>Curacao was the second most substantial source of revenue, generating \u20ac17.2 million, followed by Malta, which contributed \u20ac14.6 million. The remaining income stemmed from the United States, Croatia, Serbia, Romania, and other geographical areas.<\/p>\n<p>The total cost of sales for the year reached \u20ac39.6 million, representing a 32.1% increase compared to 2021. This resulted in a gross profit of \u20ac45 million, signifying a 59.1% rise.<\/p>\n<p>Sales, general, and administrative expenses also witnessed an increase, rising from \u20ac34.6 million to \u20ac46.7 million. The most significant expense was employee compensation, totaling \u20ac23.1 million. This was followed by depreciation and amortization costs, amounting to \u20ac8.4 million, and professional fees, which reached \u20ac3.4 million.<\/p>\n<p>Other expenditures encompassed corporate, sales and marketing, and IT and hosting costs. <\/p>\n<p>These expenditures, along with three revaluation gains, including derivative liabilities, receivables, and deferred compensation, amounted to \u20ac854,000, leading to an operational deficit of \u20ac828,000, considerably lower than the \u20ac6.3 million loss in 2021.<\/p>\n<p>Net interest expenditure was \u20ac1 million, a rise from \u20ac340,000, bringing the pre-tax deficit to \u20ac1.9 million.<\/p>\n<p>After \u20ac1.5 million in income taxes, the net loss for the year was \u20ac3.4 million, a decrease of 53.6% year-on-year.<\/p>\n<p>Adjusted EBITDA for the year was \u20ac12.1 million, a growth of 64%.<\/p>\n<p>Wagering revenue was \u20ac17.7 million, a rise of 24%.<\/p>\n<p>Fourth Quarter Outcomes<\/p>\n<p>The quarter witnessed a gross profit of \u20ac13 million, an increase of 61.1%. Bragg stated that this rise was due to a shift in product focus towards turnkey player account management (PAM) clients, managed services, and proprietary content. Bragg also stated that this resulted in a total adjusted EBITDA of \u20ac3.6 million for the year, a growth of 128.3%.<\/p>\n<p>Wagering revenue generated in the fourth quarter was \u20ac5.1 million, an increase of 65.4% over the fourth quarter of 2021.<\/p>\n<p>The quarter saw an operational profit of \u20ac162,000. This is higher than the \u20ac1.8 million operational loss generated in the fourth quarter of 2021.<\/p>\n<p>The net loss for the quarter was \u20ac900,000, an improvement over the \u20ac2 million loss in the fourth quarter of 2021.<\/p>\n<p>2023 Projection<\/p>\n<p>As a result of these outcomes, Bragg has updated its full-year 2023 forecast to between \u20ac92 million and \u20ac97 million. If the midpoint of this range is attained, this would represent a 12% increase. <\/p>\n<p>The firms modified earnings before interest, taxes, depreciation, and amortization (EBITDA) has been revised to a range of \u20ac14.5 million to \u20ac16.5 million. This signifies a 28% surge from the previous year.<\/p>\n<p>Subscribe to the iGaming newsletter to stay in the loop. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prague Gaming declared outstanding annual and final-quarter financial outcomes &#8211; Finance &#8211; iGB Prague Gaming&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Prague Gaming: Record Profits in 2022 &amp; Q4<\/title>\n<meta name=\"description\" content=\"Prague Gaming smashed records with its 2022 annual and Q4 financial results, showcasing impressive growth in revenue, gross profit, and EBITDA.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Prague Gaming Announces Record Annual and Fourth-Quarter Results\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Prague Gaming smashed records with its 2022 annual and Q4 financial results, showcasing impressive growth in revenue, gross profit, and EBITDA.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Your Trusted Partner for Secure &amp; Licensed Online Casino Fun\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T20:01:49+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/\",\"url\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/\",\"name\":\"Prague Gaming: Record Profits in 2022 & Q4\",\"isPartOf\":{\"@id\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/#website\"},\"datePublished\":\"2024-06-28T20:01:49+00:00\",\"dateModified\":\"2024-06-28T20:01:49+00:00\",\"author\":{\"@id\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Prague Gaming smashed records with its 2022 annual and Q4 financial results, showcasing impressive growth in revenue, gross profit, and EBITDA.\",\"breadcrumb\":{\"@id\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Prague Gaming Announces Record Annual and Fourth-Quarter Results\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/#website\",\"url\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/\",\"name\":\"Your Trusted Partner for Secure &amp; Licensed Online Casino Fun\",\"description\":\"Indulge in the thrill of licensed online gambling through our comprehensive news, detailed game reviews, and informative insights. Our platform is your trusted gaming partner.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"contentUrl\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"caption\":\"admin\"},\"description\":\"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.\",\"sameAs\":[\"http:\/\/theworldcasino.vip\"],\"url\":\"https:\/\/shazamcasinonodepositbonuscodes.icu\/author\/ezvhu8xt\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Prague Gaming: Record Profits in 2022 & Q4","description":"Prague Gaming smashed records with its 2022 annual and Q4 financial results, showcasing impressive growth in revenue, gross profit, and EBITDA.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/","og_locale":"en_GB","og_type":"article","og_title":"Prague Gaming Announces Record Annual and Fourth-Quarter Results","og_description":"Prague Gaming smashed records with its 2022 annual and Q4 financial results, showcasing impressive growth in revenue, gross profit, and EBITDA.","og_url":"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/","og_site_name":"Your Trusted Partner for Secure &amp; Licensed Online Casino Fun","article_published_time":"2024-06-28T20:01:49+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Estimated reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/","url":"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/","name":"Prague Gaming: Record Profits in 2022 & Q4","isPartOf":{"@id":"https:\/\/shazamcasinonodepositbonuscodes.icu\/#website"},"datePublished":"2024-06-28T20:01:49+00:00","dateModified":"2024-06-28T20:01:49+00:00","author":{"@id":"https:\/\/shazamcasinonodepositbonuscodes.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0"},"description":"Prague Gaming smashed records with its 2022 annual and Q4 financial results, showcasing impressive growth in revenue, gross profit, and EBITDA.","breadcrumb":{"@id":"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/shazamcasinonodepositbonuscodes.icu\/2024\/06\/28\/prague-gaming-announces-record-annual-and-fourth-quarter-results\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Homepage","item":"https:\/\/shazamcasinonodepositbonuscodes.icu\/"},{"@type":"ListItem","position":2,"name":"Prague Gaming Announces Record Annual and Fourth-Quarter Results"}]},{"@type":"WebSite","@id":"https:\/\/shazamcasinonodepositbonuscodes.icu\/#website","url":"https:\/\/shazamcasinonodepositbonuscodes.icu\/","name":"Your Trusted Partner for Secure &amp; Licensed Online Casino Fun","description":"Indulge in the thrill of licensed online gambling through our comprehensive news, detailed game reviews, and informative insights. Our platform is your trusted gaming partner.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/shazamcasinonodepositbonuscodes.icu\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/shazamcasinonodepositbonuscodes.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/shazamcasinonodepositbonuscodes.icu\/#\/schema\/person\/image\/","url":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","contentUrl":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","caption":"admin"},"description":"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.","sameAs":["http:\/\/theworldcasino.vip"],"url":"https:\/\/shazamcasinonodepositbonuscodes.icu\/author\/ezvhu8xt\/"}]}},"_links":{"self":[{"href":"https:\/\/shazamcasinonodepositbonuscodes.icu\/wp-json\/wp\/v2\/posts\/283"}],"collection":[{"href":"https:\/\/shazamcasinonodepositbonuscodes.icu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shazamcasinonodepositbonuscodes.icu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shazamcasinonodepositbonuscodes.icu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/shazamcasinonodepositbonuscodes.icu\/wp-json\/wp\/v2\/comments?post=283"}],"version-history":[{"count":0,"href":"https:\/\/shazamcasinonodepositbonuscodes.icu\/wp-json\/wp\/v2\/posts\/283\/revisions"}],"wp:attachment":[{"href":"https:\/\/shazamcasinonodepositbonuscodes.icu\/wp-json\/wp\/v2\/media?parent=283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shazamcasinonodepositbonuscodes.icu\/wp-json\/wp\/v2\/categories?post=283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shazamcasinonodepositbonuscodes.icu\/wp-json\/wp\/v2\/tags?post=283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}