Bragg Gaming Group CEO Matevž Mazij is set to resign from the company’s board after a majority of shareholders voted against his re-election at the company’s annual general meeting on June 18 in Toronto.
Mazij received 44.3% of votes in favour of his re-election, against 55.7% voted to remove him. Under Bragg’s majority voting policy, a director who fails to win majority support must submit a resignation offer to the board, which Bragg confirmed Mazij has done.
Bragg said Mazij “will continue to serve as a director until the resignation offer is accepted and becomes effective, his successor is appointed or elected or until the date that is 90 days from today.”
A CEO under pressure
Mazij joined Bragg’s board in February 2021 after more than a decade as CEO of Oryx Gaming, the B2B content and aggregation business Bragg had acquired. He became Bragg’s group CEO in August 2023, when the company’s shares traded at $5.45. Bragg stock has since fallen close to 60%, trading at $1.7478 as of June 2026.
Shareholder frustration has built since November 2024, when Bragg ended a strategic review process that some investors had hoped would lead to a sale or merger.
Bragg goes all in on AI
The vote on Mazij’s board seat comes amid his push to make Bragg an AI-first company by 2027. That strategy led the supplier, one of the top-ranked B2B gambling suppliers by revenue, to commit in January to cutting more than 10% of staff, a move expected to save €4.5m as part of a wider wave of iGaming layoffs across the sector in 2026.
Mazij said the job cuts were also driven by “increasingly complex” regulatory compliance requirements, recent tax headwinds, emerging market opportunities, consolidation in the market, and the company’s “increased focus on short-term profitability.”
Flat revenue, Drayton deal
Bragg’s Q1 2026 results showed revenue of €25.7m, up 0.6% year-on-year, with adjusted EBITDA of €4.0m and a net loss of €1.2m. Brazil revenue rose 33.3% year-on-year on provider onboarding, while the Netherlands grew 3.5%.
The same quarter, Bragg announced a binding agreement to acquire Drayton International, a multi-asset gaming technology and content platform combining equity interests in five game development studios and three wholly owned technology and distribution platforms. Bragg will issue 4.5 million common shares priced at $2.00 each, valuing the deal at roughly €7.69m ($9.0m). Gaming entrepreneur Matthew Davey is set to join Bragg’s board as non-executive chairman once the deal completes.
What happens next
Mazij’s resignation offer leaves Bragg’s board with up to 90 days to decide whether to accept it, appoint a successor, or let the clock run out under the company’s bylaws. Until then, he remains both CEO and a sitting director, with the AI restructuring, the Drayton integration, and the search for a new chairman all unfolding at once.
Source: Bragg Gaming Group
