Gabriel Szlaifsztein, Regional Sales Director for LatAm at Continent 8 Technologies, talks about the Brazilian market and why operators and suppliers must prioritise robust infrastructure if they are to succeed.

The opening up of Brazil has added yet more impetus to the already thriving LatAm market. This is a significant jurisdiction that looks set to open its doors to legal and regulated online sports betting and casino for the first time. 

Given the sheer size of the market – it has a population of more than 214 million as of 2021 – and the appetite that we have seen for sports betting and casino while it has been in a ‘grey’ state – it’s no wonder that both operators and suppliers are looking to get in on the action. 

As is often the case when a new market opens, a lot of focus is given to product and marketing to ensure the user has the best possible experience with a brand, and that they know the brand is actually live in the market in the first instance. 

This is of course important, but first operators and indeed suppliers need to consider their infrastructure and its role as the foundation of their sportsbook, casino or product/service offering.  

Infrastructure ultimately ensures the sportsbook or casino is safe and secure, and that there is no downtime, which in turn negatively impacts the player experience. Not only that, infrastructure must be deployed in a way that is compliant with the rules of the market. 

So, what are those rules in Brazil? 

At the moment, regulations and requirements are still being finalised and are subject to change. But our team on the ground is reporting that Brazil will look to other regulated LatAm markets such as Colombia, Peru and Buenos Aires and use their regulations to guide its framework. 

“If operators and suppliers do not have the necessary protections in place, the impact of a successful attack on their business can be near fatal”

If this does happen, then operators and suppliers will not be required to have specific infrastructure in each country (or specifically in Brazil), but they would likely need to have a local backup of all customer data – the regulator usually requires access to this for its verification and auditing activity. 

This would mean that operators and suppliers targeting Brazil can house their infrastructure elsewhere. Of course, operators would need to be mindful of the requirement to have local data backups and they will also need to take latency into account. 

Latency is a key consideration when it comes to the player experience. Bettors and casino players expect a lightning-fast experience – they want to be able to bet without delay and fire up the reels and watch them spin without any lag or interruptions. 

Infrastructure is key to reducing latency so operators will need to think very carefully about where they host their infrastructure. 

At Continent 8, we serve the entire LatAm region from our Colombia data centre. When used in conjunction with our global connected network spanning over 100 locations and our suite of managed hosting, connectivity and cloud solutions, it ensures customers are faster than their rivals. 

Just as important is infrastructure security and Continent 8’s Secure division is the market leader in this area. 

Our multi-layer offering takes in DDoS and WAAP protection as well as MDR/EDR and SIEM/SOC. The industry is one of the most attacked, and the opening up of a new market, such as Brazil, certainly catches the eye of cyber attackers and criminals. 

If operators and suppliers do not have the necessary protections in place, the impact of a successful attack on their business can be near fatal. By taking a multi-layered approach to security, businesses can put a ring of steel around their systems and networks, ensuring they are fully prepared. 

“…for operators and suppliers looking to make their move in what will be a fiercely competitive jurisdiction, they must first establish a strong foundation”

Continent 8 has been providing innovative yet reliable infrastructure to the global online gambling industry for more than 25 years now. Over that time, we have come to understand the unique needs of this industry, and what it takes to deploy infrastructure in regulated markets. 

In every jurisdiction, we take a first-to-market approach so that our customers can be among the first to go live and leverage the tremendous advantage this provides. To do this, we work closely with regulators in each market, sharing our experience and expertise. 

This is no different in Brazil where we have boots on the ground. This in itself makes Continent 8 unique – we have a dedicated LatAm team that truly understands the market, the culture, the infrastructure and the requirements of businesses and consumers. 

Specifically in Brazil, we have been working with the regulator to overcome a key issue when it comes to connectivity which differs from state to state – in some, carrier quality is high but in others, it is not, and this makes for a fragmented market. 

Our solution is to have one international provider that consolidates all carriers across Brazil, and this is a role that Continent 8 is willing and able to take on. Ultimately, this would ensure all operators and suppliers were able to access stable, reliable connectivity across the market. 

Many consider Brazil to be the sleeping giant of Latin America, and this might well be the case. But for operators and suppliers looking to make their move in what will be a fiercely competitive jurisdiction, they must first establish a strong foundation, and this comes down to infrastructure. 

This is exactly what Continent 8 provides and our award-winning suite of managed hosting, connectivity, cloud and security solutions have powered many businesses across LatAm and beyond to long-term success. 

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The transaction, with a value of approximately $331m, raised from $300m in a prior amendment, is now expected to close in the fourth quarter of the current year or the first of 2024.

This is subject to a range of customary closing conditions that include, but not limited to, GMGI shareholder approval and Nasdaq approval, among other items.

It is expected that the online gaming developer, licensor and operator will file the required proxy statement requesting shareholder approval for the issuance of the shares of common stock issuable in connection with the transaction, and other matters, with the SEC for shareholder approval in the near future.

It has also been disclosed that a modification to the financial closing terms allows for the use of up to $20m of cash-on-hand of Meridianbet Group to pay a portion of the $30m cash payable by Golden Matrix at the closing of the transaction.

“These recent filings reinforce the importance of this strategic acquisition, and demonstrate both companies’ willingness and ability to close the transaction,” commented Anthony Brian Goodman, GMGI CEO

“The amendment allowing GMGI and the sellers to use up to $20m of the MeridianBet Group’s cash-on-hand at closing (subject to the sole discretion of the sellers), not only provides the company with potential greater flexibility on financing, but we believe also demonstrates the sellers’ confidence in the value of creating a combined entity capable of being greater than the sum of its parts.”

Furthermore, it was also noted that the online sports betting and gaming group has increased its revenue “considerably” when contrasted to its past-year performance. Expectations for the combined company’s revenue and earnings performances, following completion, have subsequently been ramped up.

Despite this, last month Goodman partially aligned costs associated with the delayed acquisition as resulting in the group slipping to a net loss of $965,628 through its third fiscal quarter ending July 31, 2023.

Following this latest update, he concluded: “Both MeridianBet Group CEO, Zoran Milosevic, and I are confident that the completion of this acquisition will drive long-term value for all our stakeholders as we seek to benefit from economies of scale and both companies’ historical revenue and profit growth. 

“We are also working closely with our bankers in an effort to raise the most beneficial financing available for the transaction.”

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This will see the group, which is striving to attain “the very best customer experience”, gain solutions for desktop and mobile that are designed to help increase pass rates, detect fraud, and boost gross gaming revenue.

Lindsay Slader, GeoComply Senior Vice President, noted: “We are thrilled that Bet99 has adopted our new technology, which makes geolocation compliance easier than ever for players and easier than ever for BET99 to integrate, helping to keep them compliant, profitable and safe.”

Furthermore, the agreement will also comprise anti-fraud and geolocation solutions provider’s latest introduction. This aims to allow players to validate their location in one click without leaving the page or downloading a companion app or plugin. This, it hoped, will eliminate a key player pain point and boost conversion.

Paul Nyzuk, BET99 Chief Technology Officer, commented, “We are excited to partner with GeoComply. They have more experience than any other geolocation provider and a commitment to innovation, as evidenced by GeoComply’s new No Download Browser Solution. 

“Our priority is ensuring the best player experience while achieving the highest standards in compliance. GeoComply’s cutting-edge technology brings tremendous efficiencies so BET99 can achieve these goals.”

Earlier in the year, Laura Petrauska, Head of Casino at BET99, spoke to CasinoBeats regarding the best-performing slot innovations for BET99, as well as the importance of striking a balance between offering popular and innovative titles.

“While it may not necessarily be an innovation, we definitely have seen cluster mechanics gaining popularity,” she said. 

“I think that while we are still seeing Megaways slots performing well, right now traditional slot paylines are becoming less and less common, with different cluster mechanics taking the lead.”

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Reviewing data collected between September 3-10, the geolocation solutions provider processed 242.3 million transactions during the time frame, up 56 per cent from the corresponding period one year earlier. 

Furthermore, week one also saw 1.1 million new player accounts created across US sportsbook customers, which represents an increase of 40 per cent year-on-year.

The data also highlighted that 97 per cent of all online sports wagering transactions were made through a mobile device, with 75 per cent of those coming on iOS.

In addition, the first-quarter touchdown pass from Jared Goff to Amon-Ra St. Brown during game one, when Detroit Lions shocked Kansas City Chiefs, sparked a huge flurry of activity, with the company processing 4,200 transactions per second immediately following the score.

“Consumer awareness around the security and fairness of legal online betting platforms has played a pivotal role in the responsible growth of the industry,” commented Anna Sainsbury, GeoComply Co-Founder and CEO.

“While the increase in our transaction volume emphasises the appetite for regulated online sports betting, our data also accentuates an urgent call to action. States without regulated online sports betting should get off the legalisation sidelines and unlock their ability to protect consumers and generate significant tax revenue.”

Collectively, the three markets of Ohio, Maryland and Massachusetts, which are experiencing their first NFL season, combined to account for 253,000 of the new accounts as well as a total of 41.3 million geolocation transactions.

Today, approximately 47 per cent of the US population has access to legal and regulated online sports betting, a figure that will be boosted to 51 per cent when North Carolina, Maine, Vermont, and Kentucky launch regulated betting as expected in the coming month

However, with “almost half of the country unprotected”, GeoComply has warned of the “significant consumer demand in six states where lawmakers are considering bills to legalise and regulate sports betting next year”. These were named as Alabama, Georgia, Minnesota, Missouri, Mississippi, and South Carolina.

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This will see the entity become a main sponsor of the motorsport, whose 2023 offering within the country is scheduled to take place this coming weekend (August 25-27), joining the ranks of previous main sponsors such as Pon, Heineken, Radio 538 and Jumbo.

“We have been closely associated with racing for a good number of years and share a passion for the sport, its speed and excitement,” commented Eric Olders, Chair of the Board, on behalf of Jacks.nl.

“It suits us perfectly; hence this unique partnership we will enter in with the Dutch Grand Prix. I have seen at the previous editions that the Grand Prix and Jacks.nl go extremely well together.

“The fantastic combination of the excitement and entertainment at the Dutch Grand Prix is what you see reflected in the gaming experience that we also offer with our services. And then obviously just like in Formula 1 with the right measuring instruments and safety measures to be able to experience that excitement in a controlled way.”

JOI Gaming, a subsidiary of JVH gaming & entertainment, gained a Dutch online gambling licence for jacks.nl in November 2021.

The group’s roots originated in Tilburg in 1958, with the company also boasting 85 retail gaming entities under the brand names Jack’s Casino, Flash Casino’s and Flamingo Casino across the Netherlands.

Norbert Kout, CMO at JVH gaming & entertainment, commented: “From our group, we have been active in motorsport for several years and sponsor, for example, the Jack’s Racing Day on the circuit in Assen, Europe’s largest combined car, motorbike and kart racing event. 

“We are also media partner of Ziggo Race Café, which is broadcast around all Grand Prix events. We sponsor rally sport and within the Porsche Carrera Cup Benelux we have sponsored. So car and motor sport is in our capillaries. The big step to the Dutch Grand Prix is actually a logical continuation of what we already do in racing.”

This becomes the latest global alliance inked by Formula 1, with Las Vegas becoming the focus of attention last week after Ellis Island Casino Hotel & Brewery was designated as the official venue of the Las Vegas Strip circuit for the Formula 1 Heineken Silver Las Vegas Grand Prix 2023.

Jan Lammers, Sporting Director of the Formula 1 Heineken Dutch Grand Prix, added: “With Jacks.nl  we welcome a fine event supporter with passion for motorsport. The two company’s DNA match right from the start. 

“We notice from everything that Jacks.nl is aiming high with ambitious plans. Our new event supporter is more than a fitting addition to the Dutch Grand Prix family, which will certainly add a new dimension to the experience during the week at Zandvoort.”

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This latest report tracked a total of 15 operators across each activity, with online gaming gross receipts coming in at $153.6m (June: $151m), with sports betting’s July figure reported as $22.5m (June: $18.3m).

Combined adjusted gross receipts for the pair came in at $154.6m, with igaming representing $138.2m of the figure and sports wagering occupying the remaining $16.4m.

On a MoM basis, these are increases of one per cent and 77.5 per cent from $136.9m and $9.2m. When contrasted to the same timeframe one year earlier, online gaming secured a 18 per cent uptick from $117.2m, with the latter up 16.8 per cent from $14m.

In addition, total online sports betting handle finished the month at $200.8m, which is down from 11.9 per cent and 2.57 per cent from the $227.9m and $206.1m reported in June 2023 and July 2022, respectively.

The Wolverine State’s operator’s also reported $29.8m in taxes and payments to the state through the month, with igaming contributing $28.7m and sports wagering providing $1.1m. Tribal operators reported making $3.5 million in payments to governing bodies in May.

Furthermore, Detroit’s three casinos paid $7.6m to the city in wagering taxes and municipal services fees during July, with igaming and sports making up $7.2m and $391,969 of that figure.

Earlier in the month, this trio of Detroit gaming establishments, MGM Grand Detroit, Hollywood Casino at Greektown and MotorCity, reported revenue of $107.2m, which represents a drop of 5.61 per cent from April’s $101.5m. 

Furthermore, June saw more than $50.7m earmarked for the Michigan Gaming Control Board via the state’s 2024 fiscal year budget

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Following a recent €6m sale of its UK and Australian online sports betting brands to OneTwenty amid an ongoing focus on the aforementioned region, Catena is also targeting a full-year 50 per cent adjusted EBITDA margin in two years time.

To achieve this, Michael Daly utilised his CEO address within the group’s latest financial breakdown to discuss a multifaceted approach that will be deployed by the company to achieve these ambitions. This, he said, includes to:

• Aggressively defend and advance core, high-ranking positions in organic search. 

• Accelerate ongoing expansion in paid media in North America.

• Seek strategic, revenue-enhancing media partnerships with external players that broaden its audience.

• Leverage new state launches in North America and the favourable regulation trend in Latin America to drive revenue higher. 

• Rigorously control costs to ensure high profitability and a rightsized, agile organisation. 

• Use a solid financial position to create scope for future share and bond buybacks, dividends, and potential acquisitions in the Americas.  

This comes as Daly cited a “historically slow” second quarter of the year, driven by no significant new market launch and lack of a “large summer sports tournament”, as a series of struggles were reported through the period.

“This market-wide tightening temporarily dampened search volume and levels of new depositing customers, particularly in sports.”

Revenue through Q2 dropped 16 percentage points to €16.85m (2022: €20m), with the company’s North American operations dipping by the same figure to close the period at €12.5m (2022: €14.9m) – this equates to 74 per cent of the total.

Total operating expenses, including items affecting comparability, came in at €16.8m (2022: €18m), while new depositing customers decreased 31 per cent to 49,770 (2022: 72,060).

Adjusted EBITDA from continuing operations closed at €2.59m (2022: €6.46m), with the company’s margin down 17 per cent to a figure of 15 per cent through the April to June period. 

“Operational performance in Q2 reflected the backdrop of reduced marketing spend by betting operators in North America,” Daly commented.

“This market-wide tightening temporarily dampened search volume and levels of new depositing customers, particularly in sports. In casino, I was encouraged to see an appetite for higher marketing activity among some online casino partners. Revenue in sports is historically slow in Q2 due to seasonal factors.”

Adding: “In North America, stiffer competition from non-traditional affiliates and the entry of established media organisations into the online sports betting and casino gaming space pushed revenue lower.”

Looking at Catena’s reporting segment, casino revenue and adjusted EBITDA tracked downfalls of 20 per cent and 28 per cent to close the quarter at €10.46m (2022: €13.11m) and €4.11m (2022: €5.7m), respectively.

A drop in North America, where revenue reached €8m (2022: €9.7m), is aligned to stronger competition from offshore, grey market entities, while Japan reported a decrease due to a tech platform transition. Italy is cited as showing “good progress” once again.

“We are confident that our step-by-step approach … will deliver meaningful value over the medium to long term”

Furthermore, the firm’s sports segment saw revenue and AEBITDA decline nine per cent and 300 per cent to €6.39m (2022: €6.99m) and -€1.51m (2022: €759,000), respectively. NDCs fell 78 per cent.

However, Daly noted an expectation of witnessing “far stronger” margins through the current quarter of beyond, with it said that Q4 in particular will be “when sports betting activity will be higher”.

For the year-to-date, revenue dropped nine per cent to €50.6m (2022: €55.9m), NDCs are down 19 per cent to 147,115 (2022: 180,686) and AEBITDA closed at €22.7m (2022: €28.4m). Operating expenses ended the YTD at €34m (2022: €35.2m).

“Currently, our teams are preparing for the launch of licensed sports betting in Kentucky at the end of September,” Daly noted in a conclusion that looked at what lies ahead. 

“With an adult population of 3.5 million, Kentucky is a relatively small state that we expect to deliver a moderate revenue boost this fall. 

“Elsewhere, we are anticipating healthy inflows from Ohio and Massachusetts in particular, as both states will be entering their first full NFL season post-regulation. 

“In esports and Latin America, the trends were broadly similar. We saw further strong increases in traffic in Q2 as we continue to build our audience in these emerging market segments. 

“In contrast to the ‘buy and try’ approach favoured by some market actors, our methodology involves growing organically with the market through highly focused internal teams as we gradually build player engagement prior to full monetisation. 

“We are confident that our step-by-step approach of nurturing the audience through targeted, high-quality products will deliver meaningful value over the medium to long term.”

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This latest partnership comes alongside League Two outfit Swindon Town, which has designated the brand as an official advertising partner for the current season.

This will see the betting and gaming entity gain advertising space across the club’s Country Ground home, including a new seating banner on the Stratton Bank.

James Watts, Swindon Town FC Commercial Manager, said: “We are delighted to welcome QuinnBet as a new sponsor at the club for the 2023/2024 season and we are looking forward to developing our partnership with them over the course of this season and hopefully beyond”.

The Gambling Commission licences brand also recently secured a sponsorship agreement with Dundee United into a further season after being named as the club’s official betting partner for the upcoming season.

Following a front-of-shirt partnership being adopted for the past 2022/23 season, the online casino wing of QuinnBet pledged to include a series of safer gambling commitments as part of the renewed partnership.

Niall McPartland, Head of Commercial & Sponsorship at QuinnBet, said of this latest partnership: “Swindon Town FC is a fantastic club with a long history in the English Football League, including a spell in the Premier League, a tremendous achievement for a club of its size.

“Like the Robins, QuinnBet operates in an industry dominated by large-scale competitors, but that doesn’t detract from our ambitions to aim high. 

“Our philosophy is based on a dedication to continuously improving our sportsbook and casino offering, providing unrivalled customer support, and always promoting responsible gambling as an integral part of our ethos.

“Football is hugely popular with our customers, and we are proud to support the game and clubs through our sponsorships”.

Swindon Town currently sit in 10th position in the League Two table with one win and a draw. The club has one game in hand after the scheduled season opener at Colchester was postponed due to inclement weather.

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This, the pair stated, will aim to offer commercial and tribal casinos adding online sports betting and igaming extensions to their land-based operations a “next generation data-analytics solution”.

One such beneficially will be the Abénakis de Wôlinak Tribe’s Quebec-based Grand Royal Wôlinak Casino property, which houses 450 slot machines.

Andrew Cardno, CTO of QCI, stated: “We are proud to integrate a traditional and digital resort experience for Grand Royal Wôlinak Casino owned by the Abénakis de Wôlinak Tribe.

“The work we are doing with DigitalWin will allow QCI to work with tribal nations to integrate their land-based and online casinos.”

The integration of QCI into DigitalWin’s online sports and gaming platform will look to scrutinise customer data to enable real-time, data analytics and reporting across land-based and online operations. 

This will enable casinos using DigitalWin’s gaming platform for their online operations to view insights, customer habits and spot trends across both business segments in real-time.

“We are excited to partner with QCI to be able to create a singular view into customer habits, activity, and trends as land-based and online operations merge together in the next phase of growth for the regulated casino industry” says Michael Brooks, Director of Product Development for DigitalWin. 

“Data-analytics, AI, and customer intelligence will be the driving force of the Casino of the Future and as customers continue to embrace the digital world, the online and offline business segments will become one expanded gaming universe.

“We are excited to be at the forefront of that sea change, enabling our customers with the tools to compete in the decades to come.”

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Representing what is billed as “another step in our journey”, it is hoped that the acquisition will accelerate the performance of the group’s current brands that span sports and igaming.

In addition, the company is also aiming to create additional value for B2B sports betting and online casino operators across the aforementioned markets. 

“This purchase is another step on our journey to becoming a leading digital publisher at the convergence of sports, media and betting,” stated Chris Russell, OneTwenty CEO.

“We are reshaping our portfolio to focus on engaging fan experiences that allow us to build ecosystems for our loyal user base to enjoy.

“The portfolio builds on our horse racing and football audiences particularly and allows us to serve increasing demand from our sports-betting partners.”

It is thought that the transaction, which covers the sale of all assets in the group’s UK business, including Squawka and GG.co.uk as well as all shares in Catena’s wholly owned Australian subsidiary, will close during the current quarter.

Proceeds, €5.8m of which will be paid in cash on closing and the remaining fee within 75 days, will be used primarily to repay debt.

The assets generated combined revenue in the 12 months to date of approximately €4.5m and EBITDA of about €900,000. This contribution increases OneTwenty’s EBITDA guidance to €6m for 2024.

“I want to thank each member of our exceptional M&A team for the outstanding effort and dedication over the last few months that led to the successful closure of this acquisition. Charlene Walsh, Jack lodge, Jakub Pieczonka and Ray Kirwan.” commented Eoin O Keeffe, Group Operations Director. 

“We are excited to continue to build on this momentum and strive for even greater successes in the future.

“The team at Catena Media’s UK and Australian business is fantastic and we are excited to have them join our family. This gives us great confidence that we can grow this business together, leveraging the assets in both existing and new markets.”

The divestment to Moneta Communications, which itself was purchased by Seven Star Digital last year as is another OneTwenty company, was said to mark “a further step forward” in refocusing Catena Media for the North American ecosystem.

Earlier in the year, Catena stressed that the group will continue working with Carnegie Investment Bank, and remains open to a range of strategic alternatives and structural options.

This could include a potential sale of all remaining assets, although “an adequate valuation” has yet to be produced, or a share listing in the US.

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