ow was Inspired’s experience at FADJA 2015?
The event was a huge success – on our stand we were showcasing our best-in-breed Virtual Sports, VLT products and Mobile Games and the reception to our whole product portfolio was very positive.
FADJA is also a great opportunity for us to meet with our trusted partners and suppliers.
Why is Colombia a significant market segment for your company?
Colombia is a key market for Inspired and we are very optimistic about its potential. We have an excellent local partner in Juan Holguin’s PMV S.A., for manufacturing, and Algazara, its sales and distribution company. Inspired already has had strong VLT presence in Colombia and later this year will be launching its Virtual Sports in Colombia with a number of operators. All products will be launched with specific adaptations for the Colombian market, including local language and specific bet types.
What are the pros and cons of expanding in an unregulated country?
Inspired only operates its products in regulated markets. Inspired actively works with governments and operators in unregulated countries to share its knowledge and experience, to enable sound regulation and gaming services.
Inspired considers Colombia as an important emerging market and is confident that new regulations being put in place by Coljuegos will further regulate gaming in Colombia, which provides us with a stable, long term investment environment.
What is the most significant opportunity that you’re seeing at the moment?
Inspired’s Virtual Sports are established and proven in the retail, online and mobile space in Europe, particularly with major bookmakers and lotteries, making it also very attractive to Latin American markets, to drive structured, and incremental revenue.
Inspired is excited to launch its Virtual Sports in retail locations in Colombia and looks forward to online and mobile regulation in the future.
What is the main challenge the industry will have to overcome this year?
The main challenge worldwide to our industry is always regulation. But this challenge can also be a great opportunity as more governments are regulating forms of gambling to make them safe and secure for players, and collect taxes at the same time.
What can be damaging for the industry is when there is uncertainty about the future of gambling and specific products – it makes it challenging to plan and invest for long-term growth. Fortunately Colombia isn’t a market where we are experiencing this and Coljuegos must be commended for their progress so far on gambling regulation.
Colombia is a good example of a country that has become well regulated and is expanding at a sensible pace. The key focus for Inspired is introducing new products to the market, such as the upcoming Virtual Sports, and educating players about them.
How do you see the iGaming sector developing over the next few years?
Online and mobile gaming is booming in many jurisdictions across the world due to the increased number of connected devices. Countries such as the UK have a very mature iGaming market, enabling Inspired to launch content across all platforms at the same time.
Emerging iGaming countries are often leapfrogging the desktop first approach and focusing on mobile as the gaming device of choice. Colombia could well be similar if iGaming were legalised, as GDP and smartphone ownership steadily grows across the country.