Bragg Gaming to settle $5m of secured promissory note

Short-term extension agreement reached for remaining USD 2m.

Press release.- Bragg Gaming Group today announced it has reached an agreement with its lenders, certain entities controlled by Doug Fallon, to repay USD 5m of its outstanding USD 7m secured promissory note and to extend the maturity of the remaining USD 2m until June 6, 2025 (the “Note”).

The company is in the process of securing a new revolving credit facility from a third-party lender. This facility is expected to offer more favourable terms than the existing Note, including lower borrowing costs and improved drawdown flexibility.

Robbie Bressler, CFO of Bragg, said: “This partial repayment and extension will further strengthen our balance sheet and reflects our confidence in the business. With a reduced need for working capital support, we’re focused on finalising a new facility to secure standby credit, allowing for greater financial flexibility and enabling us to pursue strategic growth opportunities.”

All other terms of the original Note remain unchanged. Bragg intends to repay the remaining USD 2m balance on or before the amended June 6, 2025 maturity date.