Bragg Gaming CEO Matevž Mazij Steps Down Ahead of Q3 Results

Matevž Mazij has stepped down as chief executive of Bragg Gaming Group, the company said, and chief operating officer Morten Tonnesen has been appointed interim CEO. According to Bragg, Mazij moves to a strategic advisory role that carries no day-to-day management duties.

Bragg is a Toronto-based iGaming technology supplier. It sells its own and third-party casino games, runs a content aggregation platform that gives operators access through a single integration, and offers player engagement tools built around retention and customer lifetime value.

The change comes shortly before Bragg reports third-quarter results on Friday, November 13. In our reading, a new interim chief will front a quarterly update that the company goes into with shrinking revenue and no full-year forecast.

Revenue down and guidance withdrawn

Bragg reported second-quarter revenue of $26.1 million, down 12% from a year earlier. Its net loss widened to $3.3 million, from $2.1 million in the second quarter of 2025. In August, the company withdrew its full-year 2026 guidance.

According to reports, the company has also been through operational setbacks, mass layoffs and a restructuring, while its share price has fallen steeply.

Mazij lost the shareholder vote in June

Mazij had led Bragg since August 2023, according to reports. At the annual general meeting in Toronto in June, he failed to win a majority, reports say. He then resigned from the board but stayed on as CEO.

In our reading, his departure ends an arrangement in which Bragg's chief executive sat outside its board after shareholders declined to back him.

Matt Davey became board chairman in July, after Bragg's US$9 million acquisition of Drayton International, according to reports. Davey has named improving operating cash flow and a stronger balance sheet as priorities, alongside disciplined execution of the company's technology and content strategy.

Tonnesen promises a simpler business

Tonnesen joined Bragg in March. The company says he has more than 17 years of leadership experience across B2C and B2B iGaming, sports betting and technology. He co-founded sports betting operator BetWarrior, spent six years at PokerStars and was chief commercial officer at Shape Games, later sold to Kambi.

Announcing his appointment, Tonnesen said “The quality of what is already here is what makes this a fantastic opportunity.” He pointed to Bragg being licensed in more than 30 regulated markets.

His statement does not say which parts of the business a simpler Bragg would touch.

The November 13 results will be the first under Tonnesen's interim leadership. It is not known whether Bragg has begun looking for a permanent chief executive.