07:40 AM EDT, 05/15/2025 (MT Newswires) -- Bragg Gaming Group ( BRAG ) on Thursday said its first-quarter net loss widened even as revenue rose.

The digital gaming company said its net loss widened to 2.6 million euros, or 0.11 cents per share, from 1.9 million euros or 0.08 cents, in the prior year period. Revenue increased 7.1% to 25.5 million euros.

The company is guiding to double-digit growth in revenue and adjusted EBITDA in 2025, with revenue of between 117.5 million euros and 123 million euros and adjusted EBITDA of 19 million euros and 21.5 million euros. Growth will be underpinned by proprietary and exclusive content, and momentum in the U.S. and Latin America.

"As is widely reported, the Netherlands market has slowed in recent quarters due to regulatory pressures, a challenge faced by Bragg as with all operators and suppliers who serve this regulated market," said Chief Executive Matevz Mazij. "I'm pleased that Bragg has shown resilience under these pressures and is reducing its exposure to the Netherlands while seeing strong growth in markets such as the United States and Brazil. Excluding the Netherlands, revenue growth year-over-year came in at a robust 27%, driven in part by triple-digit growth in the U.S."