Bragg Gaming CEO Matevž Mazij Steps Down

Toronto-based iGaming technology supplier Bragg Gaming Group made a leadership change just days before it is due to report its third quarter financial results. The company's CEO, Matevž Mazij, has stepped down.

The company announced that operations director (COO) Morten Tonnesen has been appointed interim CEO. Tonnesen joined the company in March. He has more than 17 years of leadership experience across B2C and B2B iGaming, sports betting and technology. On the B2C side, Tonnesen, one of the co-founders of the sports betting operator BetWarrior, spent six years at PokerStars. In B2B, he served as commercial director at Shape Games, a company later sold to Kambi.

Matt Davey was appointed chairman of the board in July, following Bragg's acquisition of Drayton International for $9 million. Davey said the company's priorities are to improve operating cash flow, strengthen the balance sheet and apply its technology and content strategy with discipline. Mazij had been running the company since August 2023 and will now serve as a strategic adviser without day-to-day management responsibilities.

The company will announce its 2026 third quarter results this Friday (13 November). The news comes at a time marked by operational setbacks, mass layoffs, corporate restructuring and a sharp decline in the share price. The company had reported that its second quarter revenue fell 12 percent year on year to $26.1 million, and that its net loss rose to $3.3 million from $2.1 million in the second quarter of 2025. In August, it withdrew its full-year 2026 financial forecast.

Mazij's departure follows developments at the June general meeting. Mazij resigned from the board after failing to win majority support, but he remained in his role as CEO.