Bragg Gaming Group has declared that Lara Falzon will be stepping down from her positions as president and chief operating officer of the company. Despite the announcement, Falzon will continue to hold these roles until December 31st of this year and will remain involved in the day-to-day operations until her departure at the end of the year.

Falzon expressed her gratitude for being part of Bragg during a period of significant progression and growth. She also expressed confidence in the company’s leadership and team members to continue guiding its success in the future. Falzon has been serving as the president and COO, as well as a non-executive director, since joining Bragg in November 2021. Prior to this role, she held the position of operational chief financial officer at NetEnt and Red Tiger Gaming before its acquisition. Falzon was also featured in iGamingBusiness’ Most Influential Women 2020 list and has a background working for Evoke Gaming, King, and the BMW Group Malta division of BMW.

The announcement of Falzon’s departure comes two months after Matevž Mazij was appointed as Bragg’s new CEO and chairman. Mazij praised Falzon for her substantial contributions to the company’s success and growth, acknowledging her dedication, leadership, and hard work. He expressed gratitude for the knowledge and experience she brought to the company and wished her the best for her future endeavors.

The news of Falzon’s departure follows Bragg’s announcement of its Q3 results. The company reported a revenue increase of 8.0% year-on-year to €22.6m for the three months ending on September 30. Despite this growth, Bragg experienced a net loss of €3.6m for the quarter, but its adjusted EBITDA increased by 72.7% to €3.8m.

Despite the net loss in Q3, Bragg reiterated its guidance for the full year, expressing confidence in its annual revenue and adjusted EBITDA. It expects its revenue to fall within the range of €95.0m to €97.0m, with adjusted EBITDA projected to be between €15.5m and €16.5m.

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