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Bragg Gaming has appointed an ex-Bally’s SVP of finance as interim Chief Financial Officer (CFO), as the company mulls a possible sale.

Bragg announced today (4 June) that Robbie Bressler will begin his position at the iGaming tech and content provider on 1 July.

It comes following the April resignation of Ronen Kannor as CFO, who left to pursue other career opportunities.  

Bragg CEO and chair Matevž Mazij said: “We are delighted to welcome Robbie to the Bragg team as interim CFO.

“His deep expertise in finance and accounting, coupled with his extensive experience in the gaming industry, make him the ideal person to lead our finance function.”

The financial specialist has previous experience in industry including at Bally’s Corporation, Gamesys and Intertain.

Most recently, Bressler served as CFO of crypto payment processing company ForumPay.

He began his career at “Big Four” accounting firm Ernst & Young where he spent nearly a decade in various roles.

Bressler said: “I am excited to join Bragg at this pivotal time in the company’s growth trajectory.

“Bragg has established itself as a leader in the global gaming technology and content space, and I look forward to working with the talented team to continue driving the company’s financial performance, and further unlocking shareholder value.”

The markets appear to have had a slight negative response to the appointment, with the share price down 3.53% since yesterday’s market close.

Bragg considers sale in strategic review

Bragg is currently exploring strategic alternatives, including the possibility of a full sale, in a wide-ranging review of its business.

This came following an open letter submitted in November by the CEO of the second largest disclosed investor Raper Capital that called for a sale in the wake of a persistently low stock valuation.

CEO Jeremy Raper said: “Suffice to say, the public markets have had plenty of opportunity to appraise our company’s growth story, over time, and yet the record demonstrates that it will not, or cannot, accord even the lower bounds of what most shareholders would consider fair value.”

The provider formed an ad-hoc special committee in April to explore potential options, chaired by M&A expert Don Robertson.

Alongside the potential sale of the company or its assets, the committee is also exploring the viability of a merger, new financing, or further acquisitions.

“While the strategic review process is ongoing, the company’s management remains committed to executing the company’s strategy and business plan with the full support of the board,” said the business at the time.

Bragg reported a 4.9% YoY increase in revenue in its Q1 financial report, with the business highlighting emerging markets such as LatAm and Africa as future drivers of growth.

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