What would you say were the main achievements or milestones for GR8 Tech during this season?
I can assure that 2023 has been a remarkable period of growth for GR8 Tech. Our first year in the market as a company had several key achievements, from the formation of our product line to the expansion of our industry presence. Undoubtedly, one of the most significant milestones was the market rollout of our high-performance sportsbook and casino platforms. These successful, long-standing products with great reputations in the global market have proven that they can serve much larger audiences and thus became available for more operators. GR8 Sportsbook, in particular, has become the flagship in our product portfolio, offering operators unparalleled speed of processing 30,000 bets per second, reliability of 99,99% uptime, a wealth of quality content with over 25,000 daily events, and groundbreaking margin management capabilities, guaranteeing sportsbook margin within 12 months. We’ve also strengthened our partnerships and collaborations within the industry, expanding our presence and brand knowledge. I’m proud to say that all this work paid off. GR8 Tech closes its first year in the market with several new client contracts in the pipeline, which we will publicly announce once the integration is complete in the first half of 2024.
In terms of products, one aspect that I find valuable about your company is the clarity of the offer, its benefits and functionalities. This makes it easier for operators to identify what GR8 Tech can exactly provide for them. What is your point of view on this?
The iGaming industry is incredibly dynamic and competitive, and operators have enough problems without having to deal with offers that sound almost identical. With extensive experience on both the B2C and B2B sides of the iGaming industry and regular communication with industry peers, we have an excellent understanding of the challenges operators face. We have built our portfolio of solutions and products to provide practical answers to these challenges. For example, one of the most common top-level issues is the inability of platforms to withstand increasing loads as the business grows. Our high-performance platform offers an ideal solution to this problem, organically scaling to the needs of the company, whether it is a sportsbook or an online casino. And that’s just one example. Our approach is to offer potential clients a clear and concise overview of our solutions, along with a multitude of hands-on product tutorials that outline the benefits and functionalities of our line-up in the most straightforward manner possible. This clarity ensures that operators can easily comprehend what each product is designed to do, how it can integrate into their existing systems, and which specific advantages it offers. Basically, the process is designed to demystify the technical complexities, and focus on delivering real value.
How does your company adapt its business strategy to each market, and even reorient it according to trends or changes that affect the industry in general?
At GR8 Tech, technological adaptability plays a massive role. We harness AI and machine learning not just for the sake of having cutting-edge tech, but to enhance user experiences and operational efficiency. This tech-forward approach gives our platforms the scalability and flexibility needed to adapt swiftly to market demands and technological shifts. Real-time data is our compass here. By analyzing player behavior, betting patterns, and game popularity, we can continually refine our offerings. It’s a data-driven strategy that helps us stay ahead, making informed decisions and adjusting our course as needed.
Recently, you have highlighted GR8 Tech’s “cutting-edge technologies, including advanced data analytics and AI capabilities, and our personalized approach.” How do you think these aspects have also helped GR8 Tech gain an advantage over its competitors?
We don’t believe in one-size-fits-all solutions. Each operator and each market has their unique challenges and opportunities. Our ability to personalize our solutions and offer various highly customizable tools for business growth instead of selling one and the same thing to everyone has been a significant factor in distinguishing us from our competitors. How do you make sure you have the necessary flexibility and capabilities to fine-tune products and services for the needs of specific operators and/or markets? Technology plays an integral role in this, allowing us to provide insights and solutions that are not just effective, but also incredibly efficient. By leveraging techs such as AI and ML, we can process vast amounts of data, extract meaningful patterns, and make predictions that help our clients’ strategies, enhancing the entire gaming experience for the end users and giving operators the tools to manage their profitability more effectively.
Looking towards LatAm, today, everyone seems to focus on Brazil, but there are also other interesting markets, such as Colombia, Peru, Mexico, Argentina and even smaller ones like Chile and Paraguay. Knowing and understanding the passion of Latin American players for gaming and sports betting, how much space does your company have to continue growing in this region?
The short answer is plenty. Latin America presents a vast landscape of opportunities for the iGaming industry, and GR8 Tech is keenly aware of the potential in this region. That’s true: while Brazil often garners significant attention due to its size and market value, other countries also offer substantial growth opportunities. For example, the Colombian online gaming market, one of the first in Latin America to regulate online gambling, has seen significant expansion. According to a report from 6Wresearch, the country’s Gross Gaming Revenue (GGR) is projected to reach USD 2.42 billion by 2026 at a CAGR of 8.1%, up from USD 1.44 billion in 2019. Peru is another emerging market with a strong gaming culture. Mexico, too, represents a large market with revenue in 2023 estimated to be USD 1.89 billion, and it is expected to grow to USD 2.66 billion by 2027, with about 8.8% annual growth. Argentina presents a unique case, with its province-based regulation, offering localized opportunities for operators. Markets like Chile and Paraguay, though smaller, are also gradually opening up to online gaming, indicating untapped potential. For GR8 Tech, this diversity in the Latin American region is a significant advantage. We understand their passion for iGaming and sports betting in particular, and our approach is to tailor our solutions to meet the specific needs and tastes of each territory. This includes offering a diverse range of betting options, localizing content, and providing payment solutions that cater to local preferences.
What are the company’s prospects for 2024 and what new features you will develop for this niche of the market?
One key area of focus will be the continuous enhancement of our high-performance sportsbook platform. As our flagship product, GR8 Sportsbook holds incredible potential for operators worldwide, and we plan to showcase all aspects of this potential in depth to realize it to its full capacity with our new customers. We are also committed to expanding our footprint in emerging markets, especially in regions like Latin America, where the iGaming sector is rapidly growing. Our strategy includes adapting our offerings to meet these markets’ unique demands, ensuring that our clients can maximize their reach and revenue potential. Last but not least, of course, there will be more industry activities, events, and networking opportunities, which will inevitably lead to GR8 Tech’s more advantageous position in the global iGaming arena.
