Bragg Gaming Appoints Morten Tonnesen Interim CEO as Mazij Steps Down
Canada.- 10 November 2026 | www.zonadeazar.com Bragg Gaming Group has appointed Morten Tonnesen as Interim Chief Executive Officer, replacing Matevž Mazij, who will move into a strategic advisory role.
The leadership transition took effect on 6 November 2026 and forms part of a management restructuring aimed at improving financial performance and strengthening the company’s international operations.
The change follows a second quarter in which the iGaming content and technology provider reported a 12% decline in revenue.
Morten Tonnesen Takes Executive Leadership
Tonnesen joined Bragg Gaming in March 2026 as Chief Operating Officer (COO), with responsibilities covering operational efficiency and technology transformation.
As Interim CEO, he will oversee the company’s day-to-day activities and report directly to the Board of Directors.
The executive brings more than 17 years of experience across sports betting, technology and B2B and B2C gaming businesses.
His previous positions include:
- BetWarrior: co-founder of the sports betting operator.
- PokerStars: six years of professional experience.
- Shape Games: former Chief Commercial Officer of the business, subsequently acquired by Kambi.
- Xtremepush: former Chief Growth Officer.
Matevž Mazij Moves Into Strategic Advisory Role
Outgoing CEO Matevž Mazij will remain involved with Bragg as a Strategic Advisor to the Board.
His responsibilities will focus on providing corporate guidance and maintaining continuity in relationships with key stakeholders.
The company confirmed that Mazij will have no day-to-day management responsibilities.
He had served as CEO since August 2023.
Mazij previously founded Oryx Gaming, which Bragg acquired in 2018.
Shareholders Previously Rejected His Re-Election
The leadership transition follows an unsuccessful shareholder vote concerning Mazij’s re-election as a director at the company’s annual meeting on 18 June 2026.
The results were:
- 44.33% voted in favour of his re-election.
- 55.67% voted against.
Following the vote, Mazij offered his resignation from the Board under the company’s majority voting policy.
Matt Davey subsequently became Non-Executive Chairman on 22 July.
Bragg has not disclosed a specific reason for the latest executive leadership change.
Second-Quarter Revenue Declined 12%
The restructuring comes amid financial challenges for Bragg Gaming.
During the second quarter of 2026, the company reported:
- Revenue: €22.9 million, down 12% year-on-year.
- Net loss: €2.9 million, compared with €1.8 million a year earlier.
- Operating loss: €1.9 million, improving from €2.3 million in 2025.
- Adjusted EBITDA: €3.5 million, unchanged year-on-year.
The revenue decline was partly linked to the conclusion of legacy technology contracts in the Netherlands.
By contrast, revenue from proprietary content in Canada and the United States increased by 44%.
Matt Davey Prioritises Financial Discipline
Matt Davey, Non-Executive Chairman of Bragg Gaming, thanked Mazij for his contribution to the company’s development.
He explained that the next phase will focus on operational execution, strengthening the balance sheet and improving cash flow.
Davey also emphasised Bragg’s commitment to developing and distributing competitive technology, content and services for the iGaming industry.
The Board expressed confidence in Tonnesen’s operational experience and ability to lead the business.
Technology Expansion and International Presence
Bragg Gaming develops and distributes online casino content and technology solutions for gambling operators.
The company holds licences across more than 30 regulated markets and is listed on Nasdaq and the Toronto Stock Exchange.
In July 2026, Bragg completed its $9 million all-share acquisition of Drayton International.
The group also expanded its operations in Alberta, Canada, introducing more than 80 titles to its iGaming offering.
These developments form part of its strategy to strengthen its presence across regulated jurisdictions.
Third-Quarter Results Expected on 13 November
Bragg Gaming is scheduled to publish its third-quarter 2026 financial results on 13 November, before financial markets open.
The announcement will provide further insight into revenue trends, profitability and the performance of the company’s principal operations.
Although the figures will cover a period before Tonnesen’s appointment, they will provide an important reference point for the new leadership’s financial priorities.
Industry Impact and Next Steps
Morten Tonnesen’s appointment marks a new phase for Bragg Gaming as the company pursues greater efficiency and corporate restructuring.
The supplier must balance its international technology expansion with the need to strengthen financial performance.
With licences across more than 30 regulated markets and a 12% decline in quarterly revenue, Bragg Gaming is entering a new leadership phase focused on operational efficiency, cash flow and sustainable growth.
Edited by: Cristobal R.
