(Exclusive interview).- R. Franco Group shared with Focus Gaming News its insight into the Latin America industry.
The Spanish gaming brand R. Franco has recently expanded its businesses to the iGaming industry by launching its filial R. Franco Digital. Now the company, with proven success in Europe, is aiming at further expanding the novelty throughout the Latin America market, although they face several challenges as the iGaming industry has not been regulated yet in most of the countries. R. Franco Group’s Chief Marketing Officer Rubén Loeches talked with Focus Gaming News about the company’s expectations.
How can R. Franco Digital help operators to success in Latin America?
At R. Franco Digital, we are able to leverage decades of experience in the land-based casino sector and a flair for online platform provision in delivering a tailored product for regulated Latin American jurisdictions. Key to this are the benefits of using our flexible platform – our approach places a lot of emphasis on engaging fully with our potential operating partners, and delivering a full technology solution specialised to their needs and the specific requirements of the market. R. Franco Digital’s IRIS platform is streamlined for easy integrations, offers more than 15 payment gateways and more than 1,500 games, as well as regulatory expertise for the entire region.
What are the regulatory expectations in the Latin American countries?
It is no secret that Latin America is one of the most exciting regions opening up in the world of gaming right now. A number of jurisdictions are moving towards comprehensive regulation of iGaming, with promising signs that Brazil could soon overcome a history of false-starts to implement a workable online gambling framework.
The country leading the way here is Colombia, with regulator Coljuegos issuing its first sports betting in June 2017, but it is just the first of several Latin American jurisdictions that appear to be on the path towards security and prosperity. We hope to see more jurisdictions take heed of Colombia’s progress in the coming months and years.
What market strategies could Latin America imitate from Spain?
The mood in the Spanish market is buoyant, and with good reason. In 2016 sportsbook revenue was up 32% year-on- year to a total of €238.2m, while online casino revenue grew at an even faster rate of 73% on the figure for 2015. In Spain, R. Franco Digital works very closely with the DGOJ, the country’s regulator, which has been of great help in terms of building both a sustained level of trust and also opening their eyes to the potential for innovation that the Spanish market holds. This is without a doubt an approach that we will take with us as we expand our global reach in Latin America.
Furthermore, it is important to re-emphasise that providers such as R. Franco must enter the different regional jurisdictions of Latin America with a tailored and specialised offering – it is no good presenting different Latin American regions with the same offering that brought you success in Europe, and a specialised offering that respects the regionalisms of each market will be an important step on the path to success.
How do you evaluate the participation in the gaming industry in Colombia?
As I’ve mentioned, Colombia is being viewed by many operators and suppliers alike as the ideal stepping stone into the wider Latin American region. The country has embraced comprehensive and tested regulatory structures, and in beginning to issue its first online casino and sports betting licenses is bringing the entirety of Latin America into sharper focus as a region of rich promise for the igaming industry. All in all, there are exciting times ahead.
What were the experiences and results of R. Franco Digital in international gaming events?
We have showcased R. Franco’s extensive suite of global solutions at tradeshows throughout the year, displaying our omnichannel expertise and the strength of both our wide selection of games and the IRIS platform. Our stands and presence have consistently generated a wide array of interest, and we are looking forward to welcoming any operators to discuss how we can help to grow their revenues at expos over the coming months.