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Bragg Gaming Group has appointed Matevž Mazij as the company’s new permanent chief executive effective immediately.

Mazij is Bragg’s current chairman of the board and also the firm’s largest shareholder as the founder of Oryx Gaming.

Oryx was acquired by Bragg in 2018 and powered the company’s original PAM, aggregation and RGS gaming technology platforms.

Mazij replaces Yaniv Sherman as CEO, who lasted just one year in the top job.

“The change was made following a thorough evaluation by the board and to ensure the optimal alignment of the best interests of the company and its stakeholders,” said the Bragg board in a statement.

Bragg reported an 18.9% rise in revenue to €24.7m for Q2 2023 as adjusted EBITDA climbed 51.3% to €4.7m.

At the time, Sherman said Bragg was confident it had the right strategies and infrastructure in place to fortify its position as a leading B2B iGaming content provider.

“On behalf of the board of directors and the entire Bragg team, I would like to thank Yaniv for his leadership, commitment, and contributions to the company,” said Holly Gagnon, lead independent director of the board.

“The board remains focused on supporting the company’s senior management team as they continue to execute on initiatives that drive profitable growth and the creation of new, sustainable shareholder value.”

Gagnon added that Mazij’s significant industry experience and deep knowledge of Bragg should help the company to meet its key strategic objectives.

Mazij commented: “Following several years of serving on the board, I am excited to return to an operational role to lead the company towards continued top-line and cash flow growth.

“Bragg possesses many opportunities to further grow our scale of operations across North America, Europe and evolving global regulated iGaming markets.

“I look forward to working with senior management and all of our team members to bring fresh perspectives that can amplify our ability to continue our successful execution of the growth strategies that we established following the acquisitions of Wild Streak Gaming and Spin Games in 2021 and 2022, respectively,” he added.

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