Bragg Gaming names Morten Tonnesen as interim CEO

Tonnesen takes over from Matevž Mazij, who will transition to the role of strategic advisor

Bragg Gaming Group has appointed Morten Tonnesen as interim chief executive officer to replace Matevž Mazij.

Tonnesen has served as chief operating officer since joining bragg in March, and will assume responsibility for the company's day-to-day operations, reporting to bragg's Board of Directors.

He brings more than 17 years of leadership experience, having previously co-founded sports betting operator BetWarrior and spent six years at PokerStars. In B2B, he served as chief commercial officer at Shape Games, subsequently sold to Kambi, and as chief growth officer at Xtremepush.

He will succeed Matevž Mazij, who has served as bragg CEO since August 2023, and will now transition to the role of strategic advisor with immediate effect.

As strategic advisor, Mazij will provide guidance to the Board on strategic matters and will support continuity with the company's key stakeholders through the transition. Mazij previously served on the Board from February 2021 until July of this year.

"On behalf of the Board, I want to thank Matevž for his service as chief executive officer and for everything he has built at bragg," said bragg chair Matt Davey. "He founded Oryx, successfully merged it into the company, and has led bragg through a demanding period in the industry. We are pleased that he will continue to contribute his knowledge of the business in his new role.

"The board's focus for the next phase is on disciplined execution, improving balance sheet strength, operating cash flow, and development and deployment of market leading technology, content and services. Morten has the operational experience to deliver against those tests, and the Board has full confidence in him."

Commenting on his appointment, Tonnesen said: "The quality of what is already here is what makes this a fantastic opportunity. Strong technology, growing proprietary content, and a licensed footprint across more than 30 regulated markets.

"My focus is execution, delivering for our operator partners and running a simpler and more focused business. I want to thank Matevž for his support through this transition and for what he has built."

Shares in Bragg Gaming Group Inc (TSX:BRAG) were trading 9.23 per cent lower at C$1.18 per share in Toronto earlier Friday following the announcement.