Bragg Names Interim CEO as Board Shifts Focus to Cash Flow

The appointment comes after months of restructuring. Bragg’s board now wants tighter execution, a stronger balance sheet and better operating cash flow.

Tonnesen Takes Over Daily Operations

According to Bragg’s November 6 announcement, Tonnesen will report directly to the board. Mazij will advise on strategic matters but will no longer manage the company’s daily operations.

Tonnesen joined Bragg in March 2026. Before that, he co-founded betting operator BetWarrior, spent six years at PokerStars and held senior positions at Shape Games and Xtremepush.

Mazij had led Bragg since August 2023. He also founded Oryx Gaming, which Bragg acquired in 2018.

Board chair Matt Davey said the next phase would be judged on execution, balance sheet strength and operating cash flow. Technology and content development remain part of the plan.

Bragg gave no timetable for appointing a permanent CEO.

Cost Cuts Came Before the CEO Change

Bragg had already announced two rounds of staff cuts. The July plan affected about 19% of its workforce. Together with January’s measures, the company expects €10.5 million in annual savings.

Second-quarter revenue was €22.9 million, down 12% year on year. Bragg also withdrew its 2026 forecast after acquiring Drayton International, as 15M reported in August.

The next quarterly figures are due November 13. They will cover a period when Mazij was still CEO.