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Roundtable – Continent 8’s Leaders and Legends

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Roundtable - Continent 8’s Leaders and Legends
Reading Time: 8 minutes

 

The Continent 8 Leaders and Legends series has been running for several years now, bringing together some of the industry’s biggest names to share their thoughts, insights and experiences on the hottest trends of the moment. The latest Leaders and Legends took place at the KPMG Gibraltar eSummit and saw heavyweights Shay Segev (Chief Executive Officer at DAZN), Joanne Whittaker (Chief Executive Officer at Betfred), Edo Haitin (Chief Executive Officer at Playtech Live) and Vaughan Lewis (Chief Strategy Officer at 888 Holdings) take to the stage to discuss a wide range of topics from the review of the UK Gambling Act to the future of retail in an increasingly digital world.

 

Moderator:

Micky Swindale – Partner, Global Gaming Team – KPMG

 

Panellists:

  • Edo Haitin – Chief Executive Officer – Playtech Live
  • Vaughan Lewis – Chief Strategy Officer – 888 Holdings
  • Shay Segev – Chief Executive Officer – DAZN
  • Joanne Whittaker – Chief Executive Officer – Betfred

 

MS: What changes do you expect to see as a result of the UK government’s review of the Gambling Act? What impact might tighter restrictions have on the market and how are you preparing for them?

JW: We just need to know what is coming. The review is hanging over us and we just need to be able to move on as an industry. We are agile, we evolve. We have heard some of the expected changes around slot stake limits, enhanced affordability checks, the levy and so on but until we know exactly what changes are coming, it is hard to properly prepare. Of course, as a business, we are trying to get ready for what is to come. I think initially there was a bit of panic, but we have got passed that now. We had a significant hit on retail when the FOBT legislation came in a few years ago, but we survived that and when I talk to Fred, he always says these legislative changes come in cycles. So, we are watching, we will respond, and I hope that we are given time to implement the technology changes that will be required. But right now, it’s just a case of wait and see.

VL: I think getting the line right as to where gambling tips over from personalisation, enjoyment and the promotion of great products and offers into something that becomes exploitative is the really challenging area that the review of the Gambling Act is trying to address. For us, we just want clarity about what are the standards that we need to meet. Once operators have that clarity, we then back ourselves to be able to provide a great player experience but with high levels of safety and within the standards set. At the moment, we are not clear on what standards we are trying to meet so our hope is that through the review process we get that clarity. Once any changes from the review have been implemented, we can then refocus on delivering the best player experience.

EH: Coming from the provider side, my perspective is perhaps a bit different. I believe that it is in the product to solve issues around responsible gambling and affordability and to deliver the right player experience. This also needs to be done in a way that the regulator can see that the player is doing so within their affordability. So, it is our responsibility as a provider to give our operators the products to do this. On the flip side, and especially as a big provider, I do feel for smaller businesses as the bar for entry into the market is being set even higher. So, regulators should bear in mind that there are companies making their first move that do need clarity and guidance as to what is expected of them.

 

ML: All jurisdictions, including Gibraltar, are having to quickly adapt to market changes. But what makes Gibraltar such an appealing jurisdiction to companies such as DAZN?

SS: We recently announced that DAZN would be going into betting with the launch of DAZN Bet and that we would be using Gibraltar as the hub for that. Having personally been based in Gibraltar for the last ten years I have found the jurisdiction to be amazing both in terms of the government’s support for the industry and the infrastructure it has provided, as well as the ability to establish a business here. It is also highly respected in terms of its regulatory framework and standards, and the talent that can be accessed here is second to none. This made it a very easy decision for us to set up DAZN Bet in Gibraltar.

 

MS: As the industry continues to grow, we have seen a real wave of M&A activity crash over the sector. With no sign of these mega deals slowing down, is now the right time for smaller businesses to position themselves for a takeover? And what makes for an attractive acquisition target?

VL: We are not seeing any slowdown in the trend of mega transactions. We have been through multiple waves of M&A and deals just keep getting bigger and bigger. We just closed a £2bn transaction but that now seems relatively small. Just before Christmas, Flutter undertook a £2bn acquisition and didn’t even have an investor call to explain it, it’s kind of like a bolt-on for them now. And then a few weeks ago you have the MGM takeover of LeoVegas, which it called “bite-size”. We are definitely in a new phase of the industry where these huge businesses have been created and significant value has been generated, and that is starting to really drive the M&A cycle.

At the medium and smaller end, we are still seeing a lot of activity. These transactions often have one or more characteristics that they share including unique products and content that you just can’t get elsewhere or that you can’t create quickly enough, market access, media convergence and other attributes that drive outsized value. This is where the future focus of M&A will be.

 

MS: The big four operators now account for more than 50% of the UK market share, so these companies can leverage the advantages of scale. But what impact does this have on consumer choice?

EH: We are an entertainment business, and the future of entertainment cannot be controlled by big companies. We see today that the biggest entertainers in the world are individuals that pick up their smartphones and cameras and stream videos on YouTube to tens of millions of followers. That makes them the big force in entertainment. I understand why companies undertake M&A and want to drive scale, but will this stop other businesses from entering the industry, I don’t think so. The nature of entertainment is so fluid that what is popular now will be different in five years’ time and we will most likely consume it differently. Once you work with video and content, you really pay attention to this and when we look at the market and what is in front of us, we see our immediate rivals but also those on the sidelines of the industry. Consolidation might block the immediate entry for some companies, but I do not believe that it will block the variety and versatility of the products that are offered to players.

SS: I think we might also see consolidation between industries with new experiences coming in. Where betting and gaming were perhaps seen as unethical just a few years ago, big businesses from outside of the sector are undoubtedly now looking at it. I think the US opening up has changed perceptions, too. For example, ESPN and Disney have indicated they are considering betting as a potential market for them to explore.

 

MS: The industry is expanding internationally with new jurisdictions embracing licensing and regulation all of the time. But with most taking a state-by-state or province-by-province approach, just how tough is it for operators to be truly global?

VL: If you were to ask all operators and suppliers if you could wave a magic wand and have harmonised rules across the world, I think the vast majority would say that is the dream scenario. It would enable us to really focus on product innovation and development, player protection and ultimately creating a much better consumer experience rather than having to spend time tailoring the platform for each market. We are one of the few operators that have a global, scalable platform that can run in multiple jurisdictions, but we have to tailor that to each market. If you look at the US, the investment we have to put into each state to meet the local tax and disclosure regulations sucks up a lot of time and diverts resources away from other areas that could be much more productive in terms of making great products and really looking after players. The more we can move towards standardised approaches, especially in the area of player protection, the better it will be for all stakeholders.

EH: Any company that wants to enter regulated markets such as the UK really needs to have a strong compliance team in place. This team is not there to scare you but to give you direction when it comes to developing products within the guidelines set. For us, one of the biggest challenges in the US is that we have to create a dedicated studio in each of the states that we enter based on the Wire Act of 1961. At the time I couldn’t understand why we could not just build one studio, but now we are up and running I see it as a good barrier to the competition. Really, you need to embrace regulation and understand the meaning behind it, even if you do not agree with it. For us as a live casino provider business, having to create a studio in each of the states we target is not optimal. But if you can understand the playground you are in and cater to that culture, it is possible to succeed.

 

MS: In all of our talk about online, are we losing sight of the land-based punter? Is it true that once they have gone online, they will never come back to retail betting?

JW: During Covid, it was a real fear for our business. Our retail shops were forced to close which saw our online business grow significantly but now restrictions have been lifted we have seen retail fully bounce back. We are really pleased with how the high street is performing and we can see that our customers are enjoying the betting shop experience and especially the social element. Long may that continue.

SS: You can’t ignore that betting shops are more part of the past than the future of the industry. I do think there is an opportunity to reinvent the betting shop experience, which some operators are doing with things like self-service betting terminals. There is something there but, clearly, it is not on the rise and consumers are transitioning to digital. That said, there is room to create something synergistic between retail and online.

JW: I agree there will not be new betting shops coming but at the turnover level customers are returning and they want to come to the shop. Our digital business has normalised, but we are in a much stronger position than we were pre-Covid. There is a place for the high street; I believe in SSBT and omnichannel but customers still want to come into the retail environment. We are also seeing this in other territories. In our US business, the retail performance is strong in the casinos where we have partnerships and in South Africa, we have a significant retail presence, too, although it is a very different retail offering with a much bigger footprint with 30-40 tills. I understand the importance of digital, but retail will survive.

VL: As an industry, we do not do a great job of standing up and talking about the value of the products we are selling. Retail is back to where it was post-pandemic because people love it, and they go to the shops because it is a fun thing to do. It is similar to the convergence of media and online, so long as we are providing something of value to consumers then that’s great. I think we should be proud of the service and entertainment we provide and for me, retail betting still provides a huge amount of enjoyment for customers. Betting shops never really went away, they just had to close due to the pandemic and they remain a core part of the industry.

EH: I’m going to take the middle ground here. Retail is back and I think part of the reason why players are enjoying going to betting shops is that it was taken away from them for a long time. But I do agree with Shay that reinventing betting shops is an important thing. This includes self-service and other experiences that will drive people to retail as well as online. As a live provider, we are often asked if we are cannibalising land-based by my answer is always no. We are an extension of the business, and I don’t believe we can really replace the experience of going to a casino.

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Africa

SmartSoft’s expertise and future vision for the African market

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SmartSoft’s expertise and future vision for the African market
Reading Time: 4 minutes

 

In recent years, the online gaming landscape has witnessed a surge in innovative and engaging titles that capture the interest of players worldwide. Among these, first ever flying crash game by SmartSoft – JetX emerged as a standout game, particularly gaining substantial traction in Africa. This article provides an in-depth examination of JetX, a popular online crash game, and explores the expertise behind its creation. By focusing on the game’s features, the developer SmartSoft Gaming, and insights from an interview with the Vice President Commercial, we aim to highlight the factors contributing to JetX’s success and its impact on the gaming industry.

About SmartSoft Gaming

Founded in Georgia in 2015 by industry experts, SmartSoft set out to create a one-of-a-kind casino games provider that offers high-quality gaming experiences worldwide. By combining interactive features with captivating visuals, we blend gaming and gambling to deliver more engaging, entertaining, and superior experiences. Our mission is not just to attract players but to enhance their enjoyment.

To gain further insights into the development of JetX and the vision behind its creation, we spoke with the Vice President Commercial of SmartSoft.

Rusa Javakhishvili Vice President Commercial of SmartSoft shared insights and analytics from African countries, and outlined future plans. Rusa joined SmartSoft two years ago as Head of Finance and Strategic Projects. In early 2024, she transitioned to the commercial side as Head of Account Management, and is now Vice President of Commercials, overseeing several regions, including Africa.

What was the general concept and inspiration behind JetX?
In recent years, the online gaming landscape has witnessed a surge in innovative and engaging titles that capture the interest of players worldwide. Among these, JetX has emerged as a standout game, particularly gaining substantial traction in Africa. The main concept of the game is that it is easy to play, the player is involved in the decision as much as possible, it is fast and within the fast-paced world we think that it delivers exactly what players need for an enjoyable experience.

How does JetX differentiate itself from other crash games in the market?

At SmartSoft, we appreciate  our relationships with partners, it’s  very important to us. We constantly think and work to create a valuable product and maintain strong connections with them. SmartSoft’s portfolio includes a diverse range of online casino games, each designed to offer unique features and interactive gameplay but JetX is the literal gem!

JetX is an online crash game that combines simplicity with excitement, offering players an engaging betting experience. This dynamic gameplay requires both luck and strategy, appealing to a broad audience seeking quick, high-stakes action. JetX stands out due to its user-friendly interface, real-time gameplay, and mobile compatibility, making it accessible and enjoyable for players on the go. Its growing popularity in Africa can be attributed to its exciting gameplay mechanics and the potential for significant winnings.

What strategies did you employ to ensure JetX appeals to a diverse audience, particularly in Africa?

When we expanded into the African market, we knew it’s a big and diverse region, so it’s important to understand each country individually instead of seeing it as one market. With our partners’ help, we’re working hard to learn about each country’s marketing practices and what types of games people enjoy. It’s a challenging task, but the African market is a top priority for us, and we’ve allocated resources to quickly build our knowledge in this area.

How has JetX been received by African players compared to other regions? Are there any notable differences in player behavior or preferences?

The African market is one of the most interesting and significant  for us, and we believe it has great potential. It is a highly dynamic and exciting market, where players are exposed to a wide variety of games. Their enthusiasm for diverse content gives us inspiration and motivation to create games specifically tailored to their unique preferences and needs. Moreover, they are quick to engage with new releases, eagerly embracing fresh content when it aligns with their tastes and expectations. Although Crash products were introduced only recently, they have quickly become a favorite among consumers. We expect this trend to continue growing.

How do you assess player feedback and incorporate it into ongoing game improvements?
This is a crucial aspect for us. That’s why, in collaboration with our partners, we consistently review key feedback on our games and strive to incorporate it as much as possible into new versions. We strive to bring enjoyment in everything we do – whether it’s in our work environment, or for the end users. Our goal is to delight both the customers and ourselves with our work. Therefore, we integrate gaming’s fun elements into gambling to maximize enjoyment. This approach fuels our drive to innovate and create playful experiences, redefining the gambling industry and making it more entertaining;

What future developments or updates can players expect for JetX?
Our product has undergone numerous changes since its inception, with many more improvements planned. These changes are aimed at delivering the best possible user experience for players while ensuring the product remains of the highest technical quality.

How has the success of JetX influenced SmartSoft’s approach to game development?
JetX, the first Crash game created in 2018, holds a special place as one of the company’s most beloved titles. Its global popularity is evident, and we’re thrilled that players enjoy it. At SmartSoft, having a diversified portfolio is crucial, which is why we release new games every year. As pioneers in the Crash genre, we ensure that we continually expand our offerings. Our goal is to provide players with a wide range of high-quality games they can trust to deliver an enjoyable experience.

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Interviews

Slot Saturation – Q&A w/ Qianqian Liu, Senior Art Director at Gaming Corps

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Slot Saturation - Q&A w/ Qianqian Liu, Senior Art Director at Gaming Corps
Reading Time: 3 minutes

 

What are the defining visual features of a Gaming Corps slot?

We pride ourselves on the diversity of the look of our slots, we have three distinct styles that are all used to target different demographics. Firstly, Classic, this is a style which usually is also described as retro and some people would even say dated, we prefer nostalgic! But there is a player base who get great enjoyment from slot games like this. The second is Modern, this is a style that is sleek, shiny and incredibly high-fidelity with assets that look polished and could be very much suited to being hung up in a modern art museum. Thirdly is Stylised, this is a style that is completely entirely dependent on the theme, maybe a comic book style or similar, but it emphasises artistic freedom which is important.

All three of these are what makes Gaming Corps a unique slots provider, catering games for all types of target markets.

Where do you look for inspiration when designing an online slot game?

Different inspirations appear for different themes, if it is classic then an old fruit machine down a pub could be the inspiration. If it is a modern slot, then we like to refer to some modern day mobile apps that are more casual to play. The beauty of stylised is that the inspiration can come from absolutely anywhere but usually it can be something that the artist is personally interested in, such as comic books or anime.

How does Gaming Corp manage to distinguish its titles from others on the market?

We focus on iterations and high quality standards, we will start from a basic concept and iterate and iterate until the asset is exactly what would be expected of the target audience. We get feedback from customers as well to help hone in on a particular style that we are aiming to create.

How do you manage to keep repetitive themes (Egypt, classic, Greece and so on) interesting?

For these, it is all about combining the innovative mechanics with a unique spin on a narrative that has been re-told before. Of course if you are to create an Egyptian theme you should still recognise it to be fundamentally Egyptian with its gods and its hieroglyphs. But is there a way to put the spin on the narrative that ties it to the mechanic that has not been done before. It is important to do market research to find common thread that you can capitalise on but also things to stay away from.

What impact does localisation have on game development from a visual perspective?

Localisation of Gaming Corps is super important to us, we sometimes want to create games that can be tailored for a particular market. Especially when working with casinos for bespoke content. For example, we created a game in 2023 called “Ramen Puzzle” which was launched with a casino partner in Japan. It was very important for us to nail the anime style that suited this market and it was a core part of the development cycle to research, develop and iterate on our designs to perfect the style.

Another recent launch this year was Samba Soccer, a crash product that was created with Brazil in mind. It had a stylisation that suited popular games in that market but also a theming that set the game in Rio de Janeiro. This visual combination allowed the game to be hyper localised to this market.

What future trends do you think are going to impact the look and design of online slot games?

More and more over the years, the target demographic has moved away from playing on desktop to playing on mobile, in particular on mobile portrait, so we will always feel as if designing with a mobile-first approach should be at the forefront of what we do at Gaming Corps. This I believe will continue to trend upwards. This has a big impact on the way that slot games look and feel, there is a small space with lots of elements fighting for room so it is important to be very clear with Product Owners on what are the most important elements of the slot game.

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Interviews

Safety First: Slots Temple Q&A

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Safety First: Slots Temple Q&A
Reading Time: 2 minutes

 

For a company that has begun to blur the lines between affiliate and operator, social responsibility remains the ultimate watchword for Slots Temple, says CEO Fraser Linkleter.    

 

How important is social responsibility to the affiliate side of Slots Temple’s business?

We began life as an affiliate business that offered free demo games and slots tournaments (and we still do!). This allowed us to build a highly engaged base of players that genuinely loved playing slots. From day one, we always put social responsibility at the heart of everything we did.

We always believed that an entertainment-driven socially responsible gaming experience created a sticky player-base that trusted us and created better quality traffic for our partners.

 

Has tightened regulation of the gambling industry over the past few years impacted affiliates’ responsibilities towards its users?

Definitely. Affiliates deliver an estimated 30% to 50% of acquisition to operators in the UK, and while the sector is not directly regulated by the UK Gambling Commission, these numbers demonstrate that the responsibility to protect players from harm should be shared.

Increased regulation over the past few years means that operators, rightly, must be more cautious about choosing their affiliate partners. Ultimately, as affiliates, we must accept the responsibilities we share as part of the gambling supply chain.

The reality is, while affiliates are not directly regulated, the standards to which operators are held by regulators are passed on to us through our partner contracts. Affiliates that do not comply with these standards will struggle in this climate because operators will only work with the partners they can trust to behave responsibly. So social responsibility has become not just an ethical consideration but a strategic business decision too.

 

In 2022 Slots Temple received a license from the UKGC which allowed you to offer paid tournaments and real-money slots. Has this changed the way you think about social responsibility?

Social responsibility was always a big part of our business model, and our UKGC license was a recognition of that. Of course, offering real money games means that we are held to the same high standards as all licensed operators.

That means KYC, deposit limits, timed reality checks, affordability checks, self-exclusion options, and so on. But for us, it’s about more than mere compliance. Our model has always been about being a safe destination for fun play and prizes. As I say, we’ve fostered this community of slots fans who trust us and it’s important that we maintain that trust through the way we operate.

Ultimately, the license allowed us to offer our player-base more choice. First, that was free-to-play tournaments with cash prizes, and then low-stakes paid-for tournaments with bigger prizes, plus real-money slots.

 

So, your experiences as an affiliate have made you a more socially responsible operator?

Yes, because it has helped us understand what our players want. For example, we believe safer gambling is about smaller deposits. Where we offer cash play, it’s always small buy-ins and small bet sizes. There are tournaments for 1p, or you can play for free in UK tournaments, all with real cash prizes.

We also think it’s important to educate players about the games we have on site. For example, we clearly display the return-to-player (RTP) and volatility of the game customers are about to play before they are able to access the game.

It’s about being on the side of the player – whether you’re an affiliate or an operator. Ultimately, we believe that an entertainment-driven, socially responsible gaming experience will foster a loyal, trusting player-base.

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