Expansions form the crux of many an organisation, whichever industry you base your operations, whether that be in markets currently occupied or new jurisdictions strategically targeted.
One such recent example is games developer 1X2 Network, who recently followed up its Colombia entry by enhancing the organisations presence within the Asian market alongside Solid Gaming.
CasinoBeats has been speaking to the the organisation’s CCO Kevin Reid, regarding the importance of expansion strategies, particular regions of appeal and its difficulty when operating many brands under one banner.
CasinoBeats: At this stage, how important is international expansion for 1X2 Network?
Kevin Reid: The industry is changing at an ever increasing rate, and we are aware that we need to continue to develop in order to stay ahead of the curve. To future proof our business it is wise to focus on regulated markets around the world, as this is the clear trend across the globe. We believe this brings tremendous upsides to the business, as we are able to drive growth in a sustainable manner, but also add value to the jurisdictions we enter.
CB: First moves were recently made within Colombia, what was it that appealed about this market? What benefits does it bring for 1X2 Network?
KR: Being a new market means we can make the most of the first mover advantage. What’s more, it allows us to ensure that all the games from our three studios can be offered to the right players in the right markets. For example, some of the games we launch my not hold massive appeal among UK consumers, but from our research are popular in South American and hence we are looking to make them available in Colombia.
CB: Are there any other emerging markets in that region that appeal? Could other nations learn from what has been demonstrated in the Colombian market?
KR: Colombia is pioneering gaming in South America, and obviously we are eager to see many other nations follow its lead. We believe that the passion for sports betting across the region lends itself well to products in our RNG portfolio, particularly virtual sports.
This will allow for greater returns for operators in the market, and good cross-sell into the RNG space. In addition, it will provide customers with a safe environment to enjoy betting responsibly.
CB: With a number of brands falling under one banner, how essential is it to tailor the offerings to different markets? How tricky is this process?
KR: There are pros and cons to having many brands, but we feel that going into an untapped region, this can be as much of a benefit as a drawback. We have a wider variety of games than most organisations in our space, and this allows us to offer a rich and diverse experience.
This could be from verticals that are not traditionally top performers in Europe, but have the potential to be much stronger the other side of the Atlantic. This allows us to ensure that we lead with products that we feel will do well, but have the backup of the additional brands and products as the market expands.
CB: Most recently a deal was struck with Solid Gaming to enhance the 1X2 Network footprint in Asia. Can you provide a little more insight into the partnership?
KR: We are always open to work with organisations that we share an equal vision with and our latest announcement with Solid Gaming proves just that. They are relatively new to the market and are bringing something different, making them a perfect fit with what we do and offer in our brands.