Peru’s regulated online betting and gaming market is one of the most dynamic in the region, having only been approved into law in August last year. This 2023 is a great opportunity to both reflect on the last 12 months and look forward to more growth and expansion, as this territory continues to develop.
It is also ideal timing with Peru’s lawmakers looking to improve existing legislation. This is an expression of the results of a consultation including a bill seeking to ensure offshore operators based abroad also pay taxes alongside those with a ‘legal presence’ in the country. As I write this, is due to be published and will no doubt spark additional debate at this year’s events in Peru.
IGAMING EXPANSION IN LATAM
Regulation aside, the region’s iGaming industry is exploding and exceeding expectations. Online Gross Gaming Revenue (GGR) for the entire LatAm betting and gaming market is expected to reach USD 5 billion in 2026, compared to USD 400 million in 2020, showing just how rapidly it is accelerating.
Brazil, Mexico and Colombia may be larger and more established; however, Peru’s GGR will surely surpass the USD 300 million mark alone by the end of this year, and more than double by the end of the decade.
There is great promise here. EveryMatrix will be sponsor at G&M Events Peru and also participate at the Peru Gaming Show discussing the latest trends, technologies and opportunities. The company will be talking to both large and emerging brands and third-party technology partners as to how we can accelerate their growth faster than anyone else.
BUSINESS GROWTH AND NEW AGREEMENTS
This year marks our 15th anniversary. During that time, we have proven how powerful and impactful our technologies and services can be for operators, and we are already replicating this success and customer growth in LatAm and, more specifically, in Peru.
Just last month, we announced our latest Q1 2023 financials, setting a record quarterly GGR performance for casino operator partners, generating €374 million, up 77% Year-on-Year compared to the same period in 2022. Our customers always come first and their growth is smashing records quarter after quarter.
In Peru, we are close to announcing the signing of a new full turnkey contract for a significant operator, having won the deal against strong competition from other large technology providers, while we also have imminent plans to go live with two further leading local brands. All three deals will put EveryMatrix on the map in Peru, enabling us to showcase the powerful impact our casino technology has and the instant revenues we generate in both emerging and established markets.
Our entry point into Peru, as with many emerging markets, is casino content, integrating our in-house developed games from our own studios, including Armadillo Studios, while later phases will involve opening the taps to third-party studio content from our SlotMatrix business unit that enables brands to access the world’s largest content library. Our casino games are the gateway to launching in Peru and equally mean we can further raise our brand and product awareness in the market. These deals come hot on the heels of several other agreements across LatAm, including integrating our content with BetPlay in Colombia, one of the largest operators in the region.
PERU: AN IDEAL TERRITORY, WITH LOTS OF OPPORTUNITIES TO LEVERAGE
We expect this trend to continue and further brands to open their doors to our content and casino products. Peru is an ideal territory for gaming growth with its combination of established land-based brands, existing casino culture and thriving online betting market. This landscape represents a huge opportunity for EveryMatrix to extend this appetite to online casino games, providing relevant, localized and reliable content for players to enjoy.
The increasing competition (as global companies begin to target Peru and the wider region) will benefit players even more, raising standards, improving choice and enabling the highest quality, fully compliant brands and providers, such as EveryMatrix, to shine. To learn more about us and our products, please, contact me at [email protected].