Bragg Gaming CEO Mazij Voted Off Board After Shareholder Rebellion
Matevž Mazij, Chief Executive Officer of iGaming content and technology provider Bragg Gaming Group (NASDAQ: BRAG), has been forced to offer his resignation from the company’s board of directors after failing to win majority shareholder support at the firm’s annual general meeting (AGM), held in Toronto on 18 June 2026.
According to Casino.org, a decisive 55.67% of votes cast — totalling 6,288,503 — went against his re-election, with just 44.33% in favour. Under Bragg’s own Majority Voting Policy, a director who cannot command a majority must formally tender their resignation. Mazij will, however, remain in post during a transitional window of up to 90 days, with his departure becoming effective no later than 16 September 2026, or sooner if a replacement is found. Five other directors — Holly Gagnon, Mark Clayton, Thomas Winter, Donald Robertson, and Aaron Baryoseph — were all successfully re-elected.
A Turbulent Tenure
Mazij took the helm in August 2023 with a brief to steady the ship. Instead, the period has been marked by sustained pressure from activist investors, a failed strategic review exploring a full company sale, two rounds of layoffs, executive departures, a cybersecurity incident, and a sharp collapse in the share price.
Shares traded at $5.45 when Mazij assumed the CEO role; by June 2026 they had fallen to around $1.75 — a decline of nearly 60% in under three years.
The company’s difficulties accelerated sharply in 2026. Bragg lost its largest client, Entain-owned BetCity, in May, dealing a significant blow to revenues. Shortly afterwards, key creative talent behind Wild Streak Gaming, Bragg’s Las Vegas-based slot studio, also departed. Two rounds of redundancies followed: a roughly 12% workforce cut in January 2026, costing approximately $0.9 million in termination payments, and a second round this month affecting a further 60 employees.
Financially, Bragg secured a $6 million credit facility with the Bank of Montreal in September 2025 to retire an existing debt linked to Wild Streak Gaming’s founder, halving annual borrowing costs — though the deal placed a first-ranking lien over all company assets.
What This Means
For the wider iGaming industry, Bragg’s struggles serve as a reminder of how quickly fortunes can shift for mid-tier content suppliers when anchor clients depart and investor patience runs thin. The company remains active across several regulated markets, including Canadian provinces, a number of US states, European territories, and Brazil. How leadership stabilises the business over the coming 90-day transition period will be closely watched.
Stay up to date with the latest developments in our casino news section, or explore our guides for impartial advice on regulated gaming.
Gambling should always be for entertainment. If you need support, visit BeGambleAware.org. 18+ only.