Bragg Gaming Strengthens Finances, Expands with BurraPay Integration

Bragg Gaming Group has secured fresh financing through a new agreement with the Bank of Montreal (BMO), providing up to US$6 million in credit facilities to bolster working capital and corporate needs. The deal replaces the company’s previous debt obligations tied to a promissory note with entities connected to Doug Fallon.

“We are very pleased to establish this new relationship with the Bank of Montreal, a recognized leader in financial services,” said Robbie Bressler, CFO of Bragg Gaming Group.“This new credit facility strengthens our balance sheet and provides us with a flexible capital structure to execute our strategic plan. The ability to secure financing from a major North American bank underscores the confidence in our business and our long-term growth prospects. We look forward to a long and successful partnership with BMO.”

The facility is backed by first-ranking security interests over Bragg’s assets and subsidiaries. It is uncommitted and repayable on demand, upon certain insolvency events, or within one year unless extended at BMO’s discretion. The agreement requires Bragg to maintain financial ratios, including a Total Funded Debt to EBITDA ratio below 2.50:1.00 and a Fixed Charge Coverage Ratio of at least 1.25:1.00.

Borrowing is expected to occur in Canadian dollars, with interest costs projected at 5.9%–7.9% depending on loan type and leverage. Annualized borrowing costs are anticipated to be less than half those of the retired debt.

CEO Matevž Mazij emphasized the importance of the facility: “Securing this BMO facility represents a critical milestone in our strategic plan to strengthen Bragg's financial foundation and accelerate value creation for our shareholders.” He noted the company’s focus on higher-quality earnings, streamlined operations, and partnerships with operators such as Fanatics and Hard Rock Digital.

Cybersecurity Breach Contained

Alongside the financing announcement, Bragg reported progress on the cybersecurity breach identified in August 2025. Immediate action and support from independent experts ensured containment, with no evidence of personal data exposure or operational disruption.

The company confirmed no adverse effect on revenue or profitability and said related costs are not expected to be material. Lessons from the event have been applied to strengthen defenses further.

BurraPay Integration Expands Payment Options

In a parallel development, Bragg revealed a partnership with BurraPay to integrate cryptocurrency payments into its player account management and content delivery platforms. This move allows operator partners to provide players with crypto deposit options, aligning with strict compliance standards.

BurraPay’s technology supports regulated adoption in multiple global markets and holds particular relevance for U.S. tribal gaming operators.

“This is exactly the kind of partnership that accelerates our mission to make cryptocurrency payments a trusted standard in regulated gaming worldwide,” said Luke Millanta, CTO and co-founder of BurraPay.

Bragg’s Mazij added: “BurraPay’s compliance-first cryptocurrency payments platform is a strong fit for our strategy, and we look forward to bringing this innovative capability to operators across our global footprint.”

The partnership strengthens Bragg’s positioning in more than 30 regulated markets across the U.S., Canada, Latin America, and Europe, complementing its recent collaboration with SCCG Management to expand technology distribution.

Source:

“Bragg Gaming to integrate BurraPay crypto payments”, LinkedIn “Bragg”. September 24, 2025