Ronen Kannor Announces Resignation from CFO Position at Bragg Gaming
Ronen Kannor has resigned from his position as Chief Financial Officer (CFO) at the Bragg Gaming Group.
LISTEN TO THIS ARTICLE:He will officially step down at the beginning of June and has said that he is doing so in order to pursue opportunities outside of the business. Kannor has held the position of CFO for four years. He joined Bragg in May 2020 and before that, he worked as group CFO for Stride Gaming Group for more than five years.
A Varied and Impressive Career
Prior to moving to the iGaming industry, Kannor worked for a number of businesses in the property industry. He was CEO at Inspired Real Estate for close to six years and also spent time working for VC Development Group.
Bragg has said that it has already begun seeking a replacement CFO.
It has been an honor to be part of the Bragg team, which has successfully navigated many challenges and continued to deliver consistent growth over the past four years. I thank the board for their support throughout my time with Bragg. I am now fully focused on ensuring a smooth handover to my successor. Special thanks go to my finance team, who work tirelessly to deliver the positive change and financial growth that the company continues to achieve. I wish them and all of my colleagues continued success with Bragg now and in the future.
Matevž Mazij, the company’s CEO and chair of the board, thanked Kannor for his “commitment” and “unwavering service” to Bragg and described him as a “pivotal member of the leadership team”. He then listed some of the company’s achievements during Kannor’s tenure, such as being uplisted to the Toronto Stock Exchange, dual listed on the NASDAQ, and consecutive years of growth.
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Bragg Considering Sale
Kannor’s departure from the company comes as it considers a number of strategic paths, including a full or partial sale of the business. Bragg is also considering a merger, new financing and further gambling industry acquisitions.
A committee has been formed to look into these options and no deadline has been set for the completion of the strategic review.
Bragg recently published its full-year results for 2023. It enjoyed a 9.8% increase in revenue to €43.6 million and signed several content deals with operators such as Betsson, 888/William Hill and PokerStars.
Furthermore, the company entered new markets thanks to partnership deals in Mexico with Caliente and Italy with Microgame and it has increased its presence in markets such as the UK, Spain, Switzerland and the US.
However, it also saw increased expenses across the board, which offset revenue growth and resulted in a net loss of €5 million for the business.
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