TLDR Bragg Gaming CEO Matevž Mazij stepped down on Nov. 6 after more than three years in the role. COO Morten Tonnesen, who joined in March 2026, is now interim CEO. Bragg shares fell 26%, from US$0.93 to US$0.69, after the announcement. Mazij lost his board seat in June after failing to win enough votes for re-election. Bragg will report its third-quarter results and outlook on Nov. 13.
Shares of Bragg Gaming Group fell 26% after the company said its chief executive was stepping down. The change came one week before the Toronto-based iGaming supplier is set to report third-quarter results.
Bragg stock on the Toronto Stock Exchange dropped from US$0.93 on Thursday morning to US$0.69 on Friday morning. The company announced the leadership change on Nov. 6.
Matevž Mazij left the CEO role after more than three years. Chief Operating Officer Morten Tonnesen will lead the company on an interim basis.
A Second Exit in Five Months
The CEO change follows an earlier setback for Mazij this year. In June, he resigned from Bragg’s board after failing to get the majority of votes needed for re-election at the 2026 annual general meeting.
Mazij had served as a director since 2021. He became CEO in 2023, five years after Bragg bought Oryx Gaming, the company he co-founded.
He will now serve as a strategic advisor. Bragg said the role is advisory only and carries no day-to-day management duties.
Board Chair Matt Davey thanked Mazij for his service. “He founded Oryx, successfully merged it into the company, and has led Bragg through a demanding period in the industry,” Davey said.
Tonnesen joined Bragg as COO in March 2026, about eight months before taking the top job. He co-founded sports betting operator BetWarrior.
He also worked as chief commercial