International edition
June 17, 2021

Exclusive interview with Tassos Panagiotaros, Regional Sales Director, Vermantia

“Latin America is a booming market for gaming, with surprisingly limited presence for virtual games”

“Latin America is a booming market for gaming, with surprisingly limited presence for virtual games”
Vermantia's Tassos Panagiotaros shared some insights on the launch of their signature product, the Virtual Games, in the Dominican Republic. Panagiotaros stated he believes in the potential of Latin America, “It is a priority market for us, and we are c
Greece | 07/21/2015

Vermantia's Tassos Panagiotaros shared some insights on the launch of their signature product, the Virtual Games, in the Dominican Republic. Panagiotaros stated he believes in the potential of Latin America, “It is a priority market for us, and we are confident we will have more announcements to make soon,” he said.

V

ermantia announced Thursday its partnership agreement with Soll Systems, for the provision of its Virtual Games service in the Dominican Republic. Why did you decide to bring your product offering to this country?
 
Dominican Republic gaming market is one of the most prosperous in the region, enjoying an open, albeit regulated framework.

Many international and local operators  have invested in creating extended retail networks, that offer to the local savvy clientele a variety of betting and lottery options; we detected the lack of virtual games offering, thus we aggressively pursued to entering the market, by creating a bespoke product, apt for the local culture. 
 
How will you benefit from the Soll deal?
 
Soll is a company founded by local gaming experts; our partnership with Soll permits us to access efficiently the market, while making possible to offer an end-to-end, seamlessly integrated solution to our customers.

What other Latin American countries offer business opportunities for Vermantia?

Latin America is a booming market for gaming, with surprisingly limited presence for virtual games. In this context, it is a priority market for us, and we are confident we will have more announcements to make soon. 

How do you see the virtual games sector developing in the next years?

Initially introduced in 2012 in mature betting markets, virtual games service offers virtual events for betting within the retail and/or online networks of gaming operators, so as to complement the existing schedule of live events. Demand for Virtual Sports has grown since its launch, and now generates a significant amount of operator’s income in its own right. Virtual Gaming can be seen as a primary product or as a secondary filler product depending on the offerings of the operator. The global virtual games market is comprised of an estimated turnover of over €7B. The virtual games market in Italy, comprised of 15 operators, generates a yearly turnover of €1.2B. Besides the constantly evolving Italian market as far as virtual games service is concerned, Africa, LATAM and Central Eastern Europe are three of the most promising key growth markets. The increasing worldwide trend of the introduction of virtual games in the product and services portfolio of licensed gaming operators can be attributed to a number of factors. Firstly, virtual games provide quick bets to players in points of sales which are located within social areas such as bars. Essentially, whilst players are socializing, they have the option of placing bets on quick virtual events and then resume their social activities. 
 
Secondly, virtual games focus on modernizing operator points of sale by delivering exciting, graphically advanced games which tend to attract a younger demographic whilst retaining existing players who associate virtual racing to real racing as well as virtual sports to real sports. Virtual games therefore, offer a unique alternative to traditional lottery products and services and rejuvenate the atmosphere within points of sale.
 
Thirdly, virtual games present a new revenue stream for lottery operators, they enrich the current televised product offering shown throughout the retail network, increase the number of betting opportunities for players, extend the duration of time customers remain in shop, and as a result boost betting revenues.
Lastly, based on our experience and market research, we have come to the conclusion that within the next three years, virtual games turnover will exceed  €10Β.
 
Are you planning new acquisitions? Brief us about your international plans in the long run.
 
Our primary goal is the more efficient and wider distribution of Virtual Games, which is Vermantia’s core product. Our key market is Italy, where we will continue to expand our operator partner base; but 2015 will see us break into Latin America, Africa, Asia and mainland Europe. Following the excellent feedback from our existing clients-operators, we firmly believe that we have the most solid Virtual Sports offering in the market. Therefore, we fully expect to expand further our current collaborations, as well as accomplish successful agreements with leading gaming operators, within 2015. 

What is your opinion about this article?
  • I like it
    %
    0 votos
  • I don't like it
    %
    0 votos
  • I have not thought about it
    %
    0 votos
Leave your comment
Newsletter Subscription
Subscribe to receive the latest news and updates
Enter a valid email
Complete the captcha
Thank you for registering to our newsletter.
Follow us on Facebook