Going into a new, emerging market can be tricky, even more so when they haven’t entirely established their regulations. To do it right, it’s best to check with an expert first, so CalvinAyre’s Becky Liggero Fontana caught up with Brendan Bussmann, Director of Government Affairs at Global Market Advisors to talk about the current and future opportunities of Brazil and other emerging markets.
He offered his tips on how to approach the massive, emerging market that could be Brazil. “Probably one of the biggest things I would give them advice today is, figure out what that market looks like. It is necessary to figure out what the best locations are in Brazil, how to maximize that revenue, and create that strictly regulated environment to make that work, which is what Brazil desperately needs to be recognized as a total IR product out there,” he says.
“I think that’s the best advice that I could give them over the next few years. But I think it’s a huge market that will eventually happen,” he added.
Talking about how to move forward in countries like Brazil where there is no legislation yet, he suggests to learn from what has already been done. “I think one of the biggest things that, not only operators but people in these emerging jurisdictions are, what have other good best practices done?” he said.
“So going to experts along the way, whether they be operators, consultants like us, regulators along the way, go to the people that have done this before, don’t reinvent the wheel. Whether it’s integrated resorts, sports betting, online, whatever else, there are people that have best practices, use those as tools to guide your path and localize it to make sure it fits your jurisdiction.”
Source: Calvin Ayre
