Gaming and betting giant Entain Plc, formerly known as GVC Holdings, announced its entry into the Colombian market, where it will seek to expand in 2021 under the bwin brand. In an exclusive interview with SBC, Entain CEO Shay Segev spoke about the company's new image and future business strategy, especially in those markets they are targeting to expand the operator's global reach.
“We are looking for ways to expand our business beyond the United States, although this is probably our largest market. In the next 5 to 10 years, it will be the biggest in terms of sports betting and online gambling,” he confided.
As for Brazil, the other Latin American country that looms as a potential giant in the industry, the CEO of Entain said that it has been operating in the local market for a few years. “We have been operating in Brazil for a few years now and we may be the largest betting company in the country thanks to the work of our brands Sportingbet, which we acquired in 2013, and Betboo,” explained Segev.
The executive explained that, although the regulatory process is taking its time, they expect it to be resolved by 2021 or at the latest 2022: “Brazil is in the middle of a regulatory process and we hope that it can conclude it successfully next year or at the latest in 2022, according to the maximum time imposed by the law that legalized sports betting in the country.”
"On our part, we have been working very closely with the local authorities, we offer them our knowledge and then we hope that this will end in the regulation in the best way," revealed giving another piece of information about the relationship and interest of his company in the Brazilian market.
Beyond the development of the industry in the Portuguese-speaking country, Segev said there are other opportunities in the Latin American region that they are following closely, such as Mexico, where they are planning to operate in the future.
“Probably the best way to enter Mexico is through associations, so we are studying potential partners who share our culture and beliefs to ensure that, once we enter, we can offer the best experience and create an exciting environment and insurance for clients,” added Segev.
Segev said that south of the US border, Latin America is one of the territories where they plan to generate more relevance around Entain brands and technology. “We applied to obtain a license in Colombia about a year ago and we obtained the permit a few weeks ago. At the beginning of last week, we launched bwin in Colombia, which I believe will be an important market for the company,” Segev explained.
“I think we can bring something exciting to the Colombian market: the possibility of them betting with a regulated and safe operator that provides great products, confidence and entertainment. This will be an interesting market for Entain. Overall, Latin America is an exciting market, and I can see Entain as a leader in that region," he concluded.
Source: GMB / SBC
