Let me underline that I believe we’ve successfully assembled a strong team. That said, we’re constantly on the lookout for talent. In line with our announcements, we are clearly shifting our focus towards becoming a B2B company rather than a B2C gambling operation. This shift will require a different set of skills. The completion of invoicing and positioning ourselves as a robust performance marketing entity within the industry is the first step. This is undoubtedly one of the factors that prompt us to seek top talent.
Our Acquisition Director, Kriton Kounelakis, previously held the position of Country Manager and Head of Affiliates at Bwin. So I believe we possess a strong skillset. Of course, my extensive experience in affiliation and performance marketing since 2004 greatly helps. Therefore, we have a clear understanding of our needs and what we’re looking for. I think we’ve been able to accumulate a lot of knowledge within the group following the Emwys acquisition. This purchase has allowed us to complete a successful knowledge transfer to date. As we build on the acquisition, we will certainly be hiring experts within the digital marketing sphere.
Could you please provide more details on your transition from B2C to B2B and how it’s progressing?
It is progressing very well and we have indicated that we are trading in line with management expectations. The Emwys acquisitions also represent a significant milestone for us on this journey.
As you’re aware, our performance marketing initiatives encompass several aspects. Currently, it stands as our primary revenue driver within the group. It’s becoming increasingly evident that we are shifting even more towards B2B. Historically, we operated as a B2C company as well as a performance marketing firm, but over the next few months it will become crystal clear that we are primarily a performance marketing company. This has been our plan and is reflected in our hiring strategies.
Regarding future announcements, while the focus is on the next 12 months, starting in January, we do have some more announcements planned for this year. So there are additional updates to look forward to.
Regarding the £2m in new funds you’ve raised, where do you intend to allocate this capital?
We continue to actively monitor the market for potential acquisition candidates. We always have such opportunities in mind. However, ensuring that we can deploy capital to cash-generating initiatives we already have on the table is our bread and butter. The management team is fully aware of where we are going. But the management team is also very much living in the now. We aim to allocate the capital we have as wisely as possible, maximising the resources we have available in the markets where we intend to be active.
As for the specific markets we’re considering or currently involved in, we’re not engaged in the US as a performance marketing company due to the intense competition there, especially from the six major publicly listed performance marketing companies with a strong US focus. This market saturation explains our decision to not pursue it at the moment.
Our focus remains on Brazil and it continues to be very interesting. Additionally, the Nordics hold our attention, given our strong Nordic Group and our presence in the region.
Brazil is undergoing rapid changes, particularly regarding the regulatory updates frequently covered in the news. Does this impact your timeline and approach for establishing your presence there or are you proceeding at your own pace?
We are indeed proceeding at our own pace. In our perspective, the timeline remains largely unchanged. The Brazilian regulatory landscape is undergoing frequent amendments in their legislative process and the indication is that the bill won’t be enacted anytime soon.
For us, the focus is on positioning ourselves to deliver a high volume of high-quality players to the operators in that market. This aligns with the core responsibilities of a performance marketer. Our goal is to continue this effort both before and after a local licence regime is in place. In recent developments, Google opened up marketing in Brazil through Google Ads, starting in September this year. This means you can access the Brazilian market through any media agency with a presence in Brazil. Several performance marketing companies have already partnered with local media agencies to acquire traffic. This shift began a month ago and is currently ongoing.
We anticipate that this will follow the trend seen in other jurisdictions. Brazil holds substantial potential and, as observed when New Jersey regulated its market, player acquisition costs rose to match the lifetime value of players. If a similar trend unfolds in Brazil, it will be advantageous for marketing efforts. Many will seek to expand their market share and we aim to assist them in achieving this growth aggressively.
Returning to our focus on Europe and our core markets, particularly in the Nordics, have there been any recent developments or changes in what you’re pursuing?
It remains stable as always. We don’t foresee any major issues. Sweden and Denmark are already regulated. Iceland and Norway are not yet there in terms of proper market regulation. Finland appears to be heading towards regulation shortly. It is hard to predict when the licence regime will be in place, but any time in 2026 or early 2027 seems a good bet. The Nordics, with its high median family incomes, stable internet access and hunger for entertainment, makes for great markets.
Our approach for taking on the Nordic markets involves employing various strategies as a whole. The strategies are tailored to the specific regulatory landscapes and the operators present in each market.
The completion of invoicing and positioning ourselves as a robust performance marketing entity within the industry is the first step. This is undoubtedly one of the factors that prompt us to seek top talent
