12:03 PM EST, 01/29/2025 (MT Newswires) -- (Updates shares.)

Bragg Gaming Group's ( BRAG ) at last look jumped 13% after the company expects its revenue and adjusted EBITDA to increase in 2024.

The company anticipates a 9% increase in revenue to about 102-million euros and a 1% increase in adjusted EBITDA to about 15.4-million euros.

For 2025, Bragg expects to achieve revenue of between 117.5-million and 123.0-million euros, representing double digit growth compared to the company's anticipated 2024 revenue.

Adjusted EBITDA guidance was forecasted to range between 19.0 million and 21.5 million euros, supported by a shift toward higher-margin product offerings.

Bragg said it expects to realize its anticipated 2025 results as a result of strategic initiatives, including a shift in revenue concentration, growth in key markets, Brazil's growth potential, U.S. and European market penetration, among others.

"Our strategic investments in proprietary and exclusive content as well as various data, player journey and AI enhanced engagement features, are expected to drive our growth in 2025," chief executive Matevz Mazij said. "By focusing on margin-accretive products, we are well-positioned to boost both revenue and profitability while pursuing opportunities in key markets such as Brazil and the U.S."

The company's shares were last seen up $0.83 to $6.97 on the Toronto Stock Exchane.

Price: 7.00, Change: +0.86, Percent Change: +14.01