Pragmatic Play on the potential of the LatAm markets
5 Star sat down with Pragmatic Play’s new VP of Latin America, Victor Arias, to discuss the company’s growth strategy in one of the iGaming industry’s most exciting regions.
Which markets is Pragmatic Play looking to expand its presence in?
Latin America is a region with several very exciting markets, many of which are regulated or in the process of regulating. While Colombia is currently the focal point for many brands, we’re not limiting our reach and have our eye set on a few markets where we feel our products can make a real difference. With encouraging developments concerning regulation occurring in Argentina and Brazil, the territory has the potential to become a key market that presents huge opportunities for growth.
Our strategy for entering markets is fine-tuned, with a clear path and structure in place, so we’re very excited to hit the ground running in Latin America. Of course, our main position will always be in favour of well-established, regulated territories. We already have a presence in some targeted markets and are already seeing very positive results, which is very exciting for us.
Does having a regulated market allow for increased scope for growth and innovation not just in that market, but within the entire region?
With Colombia acting as a benchmark for regulation within the region, we see there is an increasing appetite for growth and innovation when a robust framework is in place. If operators, suppliers and consumers are clearly guided by regulation, it improves how new products can enter the market. This breeds confidence which can also influence decision-makers at neighbouring markets, who see exciting developments which they can look to replicate.
Today, we have certifications and licenses for over 20 jurisdictions proving our commitment to innovation, and LATAM is not an exception where we already have our content available in Colombia. If regulation is done well, everyone benefits. Well-regulated territories can be such a hotbed for market-changing innovations while continuing to offer steady platforms for growth.
Is it important to have an established presence in LatAm to grow in the region?
Localisation is key! There are certainly a number of benefits to having a local office set up to ensure future growth. While we may be able to get our foot in the door from afar, having a base in the territories you are trying to work in is vital. It allows you to build relationship, understand the needs of individual markets, and have a pulse on what is happening within the industry in this sector.
We have recently opened a new hub which will initially house a small team, with the intention to expand as we grow within the region.
Every gambling market differs in some way, so having experience in Latin America is very important for us, as well as how we do business at Pragmatic Play. By offering solutions that we feel can add value to a customer at a time or need, our focus is on building relationships and problem-solving, something that is helped immeasurably by us having a presence, a growing one, in the region.
Which vertical will Pragmatic Play be looking to highlight within the Latin American region?
With our multi-product strategy being a resounding success so far, we can offer operators a variety of options to help diversify and expand their offering. All of our products can be integrated through a single API, making it very convenient for operators. Customers can mix and match between our Slots, Bingo and Live Casino solutions to get the product of their choice. Moreover, our portfolio includes scratch cards and table games, for an even wider variety of choices.
While our slot portfolio continues to form a key component of our product offering, our innovative approach through new concepts such as Bingo Blast and localised Roulette has allowed us to grow our reputation across various verticals.
By keeping players at the forefront of our plans and developing products for them, it allows us to approach markets with a number of solutions which add value. There is scope for us to grow across all verticals within Latin America as it’s such an exciting region.