According to Bragg, Lara Falzon will remain as president and COO, as well as a non-executive director, of the company until 31 December this year. Falzon will continue to actively participate in the day-to-day operations of the business until the end of the year.
“I am honored to have been a part of the Bragg team during a time of significant progress in establishing a solid foundation for consistent growth,” said Falzon. “I have full confidence in the outstanding leadership and team members of the company to drive its continued success in the future.”
Falzon joined Bragg in November 2021 and has previously served as the operational chief financial officer at NetEnt and Red Tiger Gaming. She was also recognized as one of iGamingBusiness’ Most Influential Women in 2020. Falzon has worked for Evoke Gaming, Candy Crush-creator King, and BMW Group’s Malta division.
Matevž Mazij was recently appointed as Bragg’s new CEO and chairman, and Falzon’s departure was announced two months after his appointment. Mazij expressed his gratitude towards Falzon, acknowledging her invaluable contributions to the company’s success and growth. He wished her the best for her future endeavors.
Bragg’s third-quarter results were announced last week, revealing an 8.0% year-on-year increase in revenue to €22.6m (£19.8m/$24.2m) for the three months ending on 30 September. Despite a net loss of €3.6m, the adjusted EBITDA showed a significant increase of 72.7% to €3.8m. Based on these results and the nine-month figures, Bragg maintains its confidence in achieving its full-year guidance for 2023. The company expects revenue to fall within the range of €95.0m to €97.0m, and adjusted EBITDA to reach between €15.5m and €16.5m.
