GMB - Can you tell us a little bit about how the idea of partnering with IGT came about and why you opted for this model for Lotex's operation in Brazil?
Michael Conforti - This is one of the largest greenfield markets in the world with the greatest opportunities. The two companies came together because it's all about developing an instant lottery operation with tens of thousands of outlets, infrastructure and technology in a very short time. The two companies are also partners in other jurisdictions worldwide, compete, but also have partnerships like in Italy; and we thought this was the best way to reduce the risk and increase the possibility of success of the operation and also for the Brazilian government.
Brazil is a continental country and with different population profiles in each region. Do you plan on traveling around the country and knowing the specifics of each place to better develop your instant lottery products?
It's something we do whenever we arrive in a new market. We need to do a lot of market analysis to get to know the consumer. This is a strategy we need to use so that we can develop the products that best fit each place.
Do you believe that entering the Brazilian market through the Lotex operation will pave the way for Scientific Games to work on other gaming modalities such as sports betting that are awaiting regulation? What is your view on gaming in Brazil?
Brazil is a very interesting market, the eighth economy in the world and we are very happy with the possibilities that are emerging with sports betting.
Do you believe the Brazilian government will adopt a sports betting license system? Is this a model that the company likes?
We understand it will be a licensing system and we want to have a license to operate. We have successfully worked sports betting in other parts of the world and, as many operators, we look forward to working in Brazil.
Source: Exclusive GMB
