There is a changing of the guard at Toronto-based Bragg Gaming Group despite a recent Q2 report with record positive results.

CEO Yaniv Sherman is stepping down effective immediately and Bragg’s Chairman of the Board, Matevž Mazij will assume the role.

“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. We are confident that as the founder and visionary of Oryx Gaming, the combination of Matevž’ signficant industry experience and deep knowledge of Bragg with the Company’s experienced senior leadership team favorably positions Bragg to continue successfully executing on our key strategic objectives and serve our valued customers and partners with excellence.”

Mazij owns 21% of all Bragg Gaming Group shares, which came in part from the company’s acquisition of his company, Oryx Gaming, in 2018.

“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,” said Mazij. “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.”

Per the release, the board opted for the change, “to ensure the optimal alignment of the best interests of the company and its stakeholders.”

Sherman assumed the post as Bragg Gaming Group CEO on July 1, 2022 after a long tenure at 888 Holdings.

Over the past year, Bragg has announced a long list of North American partnerships including a transatlantic deal with PokerStars and an Ontario partnership with bet365, both of which were announced this month.