In recent years, the allure of Latin America has continued to grow as its online casino markets persist to flirt with regulation. Colombian regulator Coljuegos was lauded as a leading regulator not just in LatAm, but in the world, while other territories such as Mexico, Peru and Argentina continue to expand their legislative horizons.
There are opportunities abound and with changing attitudes within the continent towards regulated online casino, the area has never been a more mouth-watering opportunity.
With the opening of Latin America, it has been a verifiable gold-rush of suppliers and operators heading to one of the most enticing igaming markets; especially last year, when many European suppliers put their focus on the continent by targeting countries where regulation updates were promising. There has been ample debate over the best way to enter the market successfully, be it based on speed of entry or bringing localised products to the region, or even partnerships with local providers to ensure a healthy database of players so new entrants can hit the ground running.
Last year, Pragmatic Play took an alternative route as we looked to make a real impact in Latin America. We have invested in a localised hub in the region which has allowed us to bring expertise to bear within the continent.
Our hub continues to grow its headcount and has allowed us to excel in LatAm as we have brought years of Latin American igaming knowledge to Pragmatic Play. Understanding customer needs is vital in any form of business, but when entering a new market, it has become imperative.
By taking the time to appreciate what potential new business partners need, we can find solutions which work for both parties, rather than trying to shoehorn content agreements in place.
The approach we have taken has led to an impressive number of commercial deals signed in 2020; our first year operating in the continent. We have not focused on just a singular product stream vertical either, despite the popularity of our slot offering. We have taken multi-products or even our entire suite of content, including our Live Casino and Virtual Sports offering.
Some of the most exciting operators in the region partnered with us last year, from Boldt Group’s Bplay in both Santa Fe Province in Argentina and Paraguay, Zamba in Colombia, BetMotion.com in Brazil, Doradobet in Peru to Universal Race, and LatamWin in wider markets. Certainly, 2020 was an extremely exciting period for us, with plenty of landmarks hit. Our localized team has grown in the region, while our partner count continues to thrive across the market.
Approaching a new market is exhilarating for us and there are a variety of ways for companies to explore emerging territories. Our approach was tailored to suite our unique product range and our desire to be the leading igaming content provider in the continent. With the impending launch of our Virtual Sports offering, there is even further scope for growth for us, both with existing partners and new operators.
With the forward momentum generated in Latin America in the online casino space, and specifically the progress we’ve noticed in the region, we anticipate 2021 is set to be incredibly exciting not only for us but also for the industry as a whole in the area.
Victor Arias
Pragmatic Play’s Vice President of Latin America
