Gambling Insider: Malta Focus - November 2021

INSIDE

MALTA FOCUS Q&A: Yanica Sant of the Malta Gaming Authority Company profiles: A who’s who of Maltese iGaming

November 2021

Integrated

Independence The growing trend of operator-supplier M&A in Malta: Exclusive interviews with Kindred Group CEO Henrik Tjärnström and Relax Gaming Chairman Patrik Österåker, on their merger

CONTENTS 6

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COO, EDITOR IN CHIEF Julian Perry EDITOR Tim Poole Tim.Poole@gamblinginsider.com STAFF WRITER Peter Lynch Peter.Lynch@gamblinginsider.com JUNIOR STAFF WRITER Isabella Aslam Isabella.Aslam@gamblinginsider.com LEAD DESIGNER Brendan Morrell DESIGNER Olesya Adamska DESIGN ASSISTANTS Radostina Mihaylova, Svetlana Stoyanova, Inna Shtereva MARKETING & EVENTS MANAGER Mariya Savova FINANCE & ADMINISTRATION ASSISTANT Dalia Ambrazaite

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IT MANAGER Tom Powling COMMERCIAL DIRECTOR Deepak Malkani Deepak.Malkani@gamblinginsider.com Tel: +44 (0)20 7729 6279 BUSINESS DEVELOPMENT MANAGER Warren Wilkinson Warren.Wilkinson@gamblinginsider.com +44 (0) 207 613 5863

6 - MALTA GAMING AUTHORITY Yanica Sant, of the Maltese gaming regulator, speaks exclusively to Gambling Insider

8 - INTEGRATED INDEPENDENCE

15 - SPORTINGTECH 16 - BETSSON GROUP 18 - RELAX GAMING

We interview Kindred Group CEO Henrik Tjärnström about the operator’s purchase of Relax Gaming

20 - GREEN JADE GAMES

11 - AML, KYC AND RESPONSIBLE GAMING ON BLOCKCHAIN

24 - ASTROPAY

Nick Hill talks all things Blockchain Island

26 - EM@NEY

12 - THE OTHER SIDE OF THE COIN

28 - DIGITAL ASSET MANAGEMENT

Having heard from Kindred Group, Relax Gaming Chairman Patrik Österåker gives us the supplier’s view of the deal

14 - SIGMA PREVIEW

What to do at Malta’s big get together

15-32 COMPANY PROFILES A who’s who of Maltese iGaming

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22 - EXACTA SOLUTIONS

ACCOUNT MANAGERS Michael Juqula Michael.Juqula@gamblinginsider.com Tel: +44 (0)20 3487 0498 William Aderele William.Aderele@gamblinginsider.com Tel: +44 (0)20 7739 2062 Clive Waite Clive.Waite@gamblinginsider.com Tel: +44 (0)20 7729 0643 Martin Dilleigh Martin.Dilleigh@gamblinginsider.com Tel: +44 (0) 203 435 5628 Michelle Pugh Michelle.Pugh@gamblinginsider.com Tel: +44 (0)20 7739 5768 SENIOR ACCOUNT EXECUTIVE Sam Ford Samuel.Ford@gamblinginsider.com Tel: +44 (0) 207 739 9918 US BUSINESS DEVELOPMENT MANAGER Aaron Harvey Aaron.Harvey@playerspublishing.com Tel: +1 702 425 7818 CREDIT MANAGER Rachel Voit WITH THANKS TO: Henrik Tjärnström, Patrik Österåker, Yanica Sant, Sportingtech, Betsson Group, Relax Gaming, Green Jade Games, Exacta Solutions, AstroPay, EM@ney, Digital Asset Management, Habanero, SoftSwiss, Chris Vella, Anthony Hennessy Gambling Insider magazine ISSN 2043-9466

30 - HABANERO 32 - SOFTSWISS 34 - FINAL WORD: EXACTA SOLUTIONS

Chris Vella and Anthony Hennessy talk us through the latest M&A trends in Malta

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Reproduction without permission is forbidden. Every care is taken in compiling the contents of Gambling Insider but we assume no responsibility for the effects arising therefrom. The views expressed are not necessarily those of the publisher.

FEATURES MGA

“Regulation based on cooperation” During the recent Sustainable Gambling Conference, Isabella Aslam spoke to Yanica Sant, General Counsel for the Malta Gaming Authority (MGA) on the state of today’s regulated industry You spoke to Gambling Insider last year on the pandemic not justifying emergency measures to stop problem gambling. So, a year on from that interview, do you think regulators have adhered to the same steps originally made from the outset, and do you think responsible gambling regulations have slipped?

It’s not that they have slipped, I think that many regulations were introduced based on emergency legislation and the fact that no one knew what we were entering into. Regulations were centred around data collected at the time (which I would imagine to be very different by jurisdiction).We didn’t feel the need to introduce such emergency measures. It’s been around a year and a half since the pandemic, I think everyone has understood that it’s here to stay and Covid isn’t likely to be over soon, but hopefully we won’t be calling it a pandemic anymore. The good thing now is that the 6

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public can travel again and restrictions have eased globally. The fact that these restrictions have eased, in my opinion, no longer justifies the maintenance of emergency regulation.

It may not be necessary soon to justify every restrictive measure; however, I believe in striking a balance between regulating the sector to have and maintain a safe environment for the players. This also means still regulating the industry, but not in a way that stifles it to a point where it no longer remains attractive. The whole purpose of gambling is entertainment. If the regulated activity is no longer entertaining to the player, the industry runs the risk of players seeking entertainment in unregulated areas, or the black market.

I am using the word regulated specifically because if a market is regulated by a reputable jurisdiction, that offer is safe for the consumers.

We want consumers to remain in that market, we don’t want to lose them to the black market.

Otherwise, the objective of keeping gambling safe and fair isn’t being maintained.

The essence of a regulator is to keep a gambler safe, among other things, but also to optimise a market and an industry. Is there anything else involved in the role of a regulator that perhaps people don’t know?

The number of checks that are entered when a licence is issued is something that not many people know. The checks relate to the sustainability of the company and the people behind it. Once the licence is issued, the checks are continuous, including ones of the offering itself, how fair it is and technical analysis. Which again, most people don’t know.

It is not just about safety promotion.

The technical examination of each offer makes sure players will not be cheated, or that the random number generators work the way

MGA FEATURES they are supposed to – we go into this amount of detail.

I think it is good for players to be aware of these things, to understand that when we say fair offer, it actually is a fair offer.

When playing in the black market, there is no guarantee that the game will be fair, with no one checking it. When you are playing in a regulated market, there will always be relevant checks.

There is a lot of cooperation that goes on with regulators, we share a lot of information and bilateral agreements with various regulators. We have questions about the activity of particular operators, so we make sure we always monitor the activity of the operator in general.

Normality has resumed (somewhat), which could have an adverse effect on online gambling. Considering the amount of newly regulated companies choosing Malta, has there been an increase or decrease in online gambling since restrictions have eased?

That is a good point. We are actually in the moment of compiling that information, to be honest. We will be analysing and publishing all relevant figures soon; it’s interesting for us to see.

At the start of the pandemic, when sports events stopped, we saw a decrease in sports betting and received a bit of an update in other areas. We expect to see a slight dip, as there are more things to do now. That’s neither positive nor negative; it proves to me that gambling is a source of entertainment in that sense.

I would be more concerned if we saw things we didn’t expect. So seeing an uptake in gambling during the pandemic which was higher than usual, while it was risky, is the reason why we called upon our operators to make sure they stuck to their obligations. This meant not advertising aggressively and sticking to requirements.

The most important thing is that operators continue to be vigilant and more so after the pandemic, but I’ll let you know when we have more data!

Touching on the allure of the black market, you said it was the regulator’s obligation and duty to work with operators to enable a monitored environment. Do you think smaller companies could be steered towards a greyer market, due to such strict restrictions?

Today the industry is a very heavily regulated one. It always was, but even more so with the amount of regulation from all jurisdictions. So I can see why it may be difficult for certain companies to meet the required degree Yanica Sant

Effective regulation is regulation that is based on cooperation. It makes no sense for us to regulate from a perspective where we don’t understand what the operator is facing of regulation. But, to be honest, it is not the time to cut corners on that. We do expect all companies to meet those requirements.

For example, in Malta, we do have some start-up incentives, but they normally relate to administrative ease of burden, not regulatory.

We expect any regulated game, no matter who is offering it, to be completely safe and fair.

Do you ever see yourself tightening your restrictions like other regulators, for instance, the Dutch regulator?

I think every regulator shares the same objectives. When it comes to some regulators that have one target market,

it depends on the consumers within those markets. The way we regulate has proven to be effective and conducive to the achievement of our regulatory objectives.

And, in hindsight, do you think all operators have behaved responsibly during the pandemic, from a regulatory perspective?

No, that will never be the case. We publish decisions concerning aggressive advertising.

When the pandemic first hit, a handful of licensees attempted to exploit the situation and resorted to Covid-related advertising.

I must say we were and are quite strict.

We didn’t even allow any reference to stay home and play, which before the pandemic would have been fine. We would have never had an issue for a player to stay home previously. Here, ‘stay home’ might have triggered someone’s fear of going out and have different implications. On the other hand, we could see the vast majority of licensees were proactive in dialling down their marketing campaigns, and were cognisant of the effects on their players.

What are your aims in 2022 – is there a main focus or a new strategy?

We will be focusing on outreach to all stakeholders, more so than we already do. We intend to be more in touch with operators to understand what we can do to help and move forward. More than ever, we understand we are not on different sides. Effective regulation is regulation that is based on cooperation. It makes no sense for us to regulate from a perspective where we don’t understand what the operator is facing.

Understanding challenges and the technologies that operators implement is a journey with no end.

We want to be on the journey with the operators.

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FEATURES KINDRED GROUP

Integrated independence Kindred Group CEO Henrik Tjärnström speaks to Tim Poole about the operator’s takeover of supplier Relax Gaming, discussing the rationale behind the merger and the growing trend of operator-supplier integration As industry consolidation continues on an exponential scale, supplier acquisitions like Scientific Games’ takeover of Lightning Box Games and Evolution’s buyout of Big Time Gaming are becoming evermore common.

So much so, in fact, it almost feels too obvious to point out... But a newer trend has developed in recent years which is somewhat bucking the wider consensus. Indeed, in the modern M&A climate, more and more operators are buying more and more suppliers – a concept that feels completely contrarian upon first thought.

Earlier this year, a prime example materialised as established operator Kindred Group purchased online gaming supplier Relax Gaming. Relax will continue supplying B2B slots and the like to competing operators, in some cases direct Kindred rivals. All the while, Kindred will keep operating in the same vein as it was before – with no change in approach off the back of this merger. They seem like conflicting approaches, and yet they will proceed side by side as part of one overarching strategy.

A few months into the partnership, Gambling

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KINDRED GROUP FEATURES Insider is proud to have landed Kindred CEO Henrik Tjärnström to speak exclusively about the acquisition, its connotations and what this growing operator/supplier trend means for the wider industry. In the Q&A below, Tjärnström offers his thoughts on the deal’s benefits, structure, alternatives and overall meaning for Malta.

Call this integrated independence, if you will.

our strategy towards our increased focus on product and customer experience; and basically strengthen our product control and differentiation through proprietary content. That was one of the main themes. But we have also been a long-term owner of Relax since 2013, and we owned a third of the company previously; this now enables us to add a rapidly growing and profitable B2B business with a world-class Hi Henrik, thanks for taking the time to product offering – combining a B2B supplier speak with us again. What are the biggest with a B2C operator is creating a really strong benefits of Kindred acquiring a supplier group for us at Kindred. like Relax?

As we highlighted on 2 July, when we In terms of the structure of the deal, how announced the transaction, it will accelerate will the two sides operate? Is it pretty much both sides carrying on as before, or are there going to be any meaningful differences?

So Relax is a market-leading scarce asset in the B2B space. It’s a full-service supplier that offers for us both bingo and poker on a proprietary basis; additionally, it has both world-class aggregation and its own games delivery casino company. So in that sense, they are a top supplier and accumulating more and more

operators to their portfolio. It started 10 years ago when Relax was formed; it was basically a spinoff of the technology arm of iGame, and by doing that it’s a tech company at its core.

It focused initially on just being that layer in between the game studios and the operators, and accumulating integrations. Over time, they got to a critical mass on both integrations with studios and with operators; then they also decided to create their own games on top of that.

So that, combined with the poker and bingo they’ve offered us, has enabled them to be a strong B2B supplier. For us then we, as a B2C operator, of course want to have a unique offering and content; and Relax has been a core vehicle for us to do that already. We’ve also done some more direct integration to our platform. This will enable us to have a B2C arm and a B2B arm, and they can be completely separate from an operational point of view; to secure the integrity of the B2B customers while at the same time providing us, our B2C arm, with unique content. So it’s really one plus one equals three in this sense.

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FEATURES KINDRED GROUP I was going to ask if Relax will keep providing B2B games for other operators and you’ve answered that already. But will it be making any new specific games for Kindred on an exclusive basis? And, like you’ve said, the B2B and B2C arms will be separate, but isn’t it a little weird to have an operator buying a supplier that’s still working with rivals?

Yes, but it’s become more of the norm in the industry of today that B2C operators also have an arm that is more B2B, and to get scale on those investments as you’ve seen elsewhere, when you look at the supplier side of our sector.

With the integrations towards the operators, by having that critical mass and then when Relax started to do their own development and launching that into that network, there’s very good scalability in that model. It flows through pretty much down to the bottom line, and as you can see the operating margins are phenomenal in the supply chain. So it is really a norm of today that operators want to have bespoke, unique content; and also get the benefit of having what we will now have: the highly profitable B2B arm of Relax. This will provide a strong financial cash flow coming in, and it enables us to then reinvest in the B2B side, to continue to grow and create even better profitability for Relax.

In the past, operators have already bought suppliers; you have DraftKings and SBTech, you have this deal and there have been a couple of others. Do you see this trend continuing? Will we get to a stage where every major operator will have bought a major supplier?

Margins in our sector are quite under pressure from the re-regulation trends and betting duties. The transformation we’re undergoing is to have as high profitability as possible: these supplier companies offer that as long as, of course, they can provide good-quality games and provide that to other operators on a larger scale – which Relax can do.

So, from a financial point of view, it makes sense and also, from a strategic point of view as I mentioned, we would get exclusive content; then operationally, we would keep them separate so we get the benefit from the Relax positives and we don’t have to invest in Kindred developing our own bespoke studios, starting from scratch. By basically increasing our holding from a third to take control of the company, we get that double benefit.

A potential alternative is when operators launch their own bespoke studios.

I’m not sure how similar it is but obviously LeoVegas did something like that recently and Penn National. Is it the choice of acquiring a supplier or launching your own studio, or is that something slightly different?

We could have done that and that was one alternative we were looking at. In this sense, we already had such a close cooperation and partnership with Relax, and Relax was already 10 GAMBLINGINSIDER.COM

helping us with some of these things today.

So we felt it made much more sense for us to actually create that opportunity on the Relax side in a sense, and then for Relax to provide that service to the B2C of Kindred rather than us doing it ourselves – as I said, starting from scratch. Now we can commission a studio ourselves if we want to, based on the Relax side of the business operating on their already-developed platform and functionalities.

This will give us faster time to market and then that studio can develop bespoke content for Kindred if that’s what we choose to do.

At the same time, we can also make a call if we want to resell that into the wider network of Relax, to get better profitability on those investments. So for us it makes perfect sense to take this functionality in-house and get the best of both sides in that transaction, rather than us having to put focus on it as well. It creates clearer focus on the customer side of the business by outsourcing this to Relax, so we still get the benefit from the Relax cash flow in the overall group; again really strengthening both Relax and ourselves.

Henrik Tjärnström

familiarities with the set up and the corporate structure, but we have also done acquisitions, as you know, in Gibraltar; two of them with Stan James and with 32Red, and elsewhere. So you Do you see this as a route other operators have so many different operators and suppliers will follow in the industry, creating their in Malta and it’s a hub for the iGaming own studios? Do you think it’s something sector; that will remain. I think there’s also a that may happen more in the next couple vibrant start-up community here with a lot of ideas and everything being brought to of years?

Yes, I think so. As you said, it’s already been the market, so I’m sure that will continue. happening in other places of the sector today.

But I think Relax is a unique asset that’s already Like you say, it looks like it’s going to providing us with these services: not only casino, continue at the same rate or maybe even which is normally what you talk about with quicker. To finish off, is there any other studios. But it’s also already providing us with message you’d like to get out there, our bespoke bingo and poker software, and then specifically on the Relax deal? How has it progressed since the agreement they’re having this aggregation capability and business stream. Then there’s the games was finalised? production, so it’s a one-stop shop on the B2B If anything, I’d perhaps add that we see great side for games and that is a scarce asset really. potential with taking Relax from where it There are truly no companies similar to Relax; is today and into, for example, the America expansion; like the US and markets where that’s why we found it extremely interesting there is a need for extra content. That is to conclude this deal. a double win for both Relax and for all of I’ve got a final major topic I wanted to talk Kindred in the sense that we can get more about and it’s a similar overall theme: M&A content into the US market; and also for Relax to not only supply us there but for but looking more specifically at Malta.

Are we basically going to see one great other customers in the US market. Again, just big consolidation in the next few years, stressing the point that we want to keep Relax as an independent entity within the progressing faster and occurring more overall Kindred Group, and continue to often in Malta?

It’s not only Malta, it’s the whole sector, and the invest in Relax to further its strength and need for scale is very important because of the B2B offering; and grow their customer base even further. We see great potential for that; margin pressure we talked about with regards it would be a really good thing for Relax and to local regulations. It’s also been a sector where Kindred and we as an operator know the consolidation has been happening now for the value of integrity, the value of B2B customers, last 20 years or so. We ourselves have done one and that’s why we’re stressing this really. It’s top acquisition a year, more or less, for the last 15 of our agenda to keep the independence years. So us being one of the large operators between the B2B and B2C sides. in the sector, we are of course quite active in Management for Relax is also committed looking at M&A. The organic growth is our rock bed and if we can add strategic acquisitions to remain with meaningful ownership, and the Founder and previous Chairman on top of that and then if that is in Malta, are remaining in charge of Relax, as a group like Relax of course, it makes some extra within the Kindred Group. sense from a structure point of view. There are

NICK HILL FEATURES

AML, KYC and responsible gaming on blockchain It wouldn’t be a focus magazine on the Blockchain Island without an article on blockchain. Nick Hill delivers...

Responsible gaming is an ever-bigger concern for gambling operators. Aside from the social and moral responsibilities operators have to their customers, regulators in Malta (and indeed elsewhere) are taking an increasingly tight line on compliance, ensuring operators discharge their legal obligations to the fullest. At the same time, regulation is continuing to become more restrictive for operators, with fines in place for those that transgress the boundaries set by the Malta Gaming Authority (MGA) and other equivalent regulators.

As part of the compliance package, operators are expected to run KYC/AML checks as standard on every player. However, these burdens are becoming greater, with regulators consistently upping the ante on what is expected from operators to stay on the right side of the law.

This has the effect of creating a higher compliance cost for operators to discharge, which some in the industry have suggested is becoming a significant pain point. The MGA has not been afraid to show its teeth in going after those who fall short on their compliance requirements, or more importantly, on being able to prove their discharge of duties. And with this indicative of a wider trend towards more robust regulation, the iGaming industry in Malta and as a whole is crying out for new technologies that help tackle these problems.

Then there’s the reality of information that is incomplete or inaccurate – a compliance fine waiting to happen. NChain’s Director of Marketing and Director of Product & Solution Strategy, Dominic Duffy, characterised the problem as one of trust in the integrity of data, on which a mass of other decisions are made. “The truth is, we simply can’t trust the data we rely upon. It’s not conjecture,” Duffy said at the recently held CoinGeek Conference in New York.

According to nChain research, over 50% of firms surveyed believed their audit trails to be compromised. And for iGaming operators, that can result in significant liability. Blockchain provides the first most credible solution to these issues, by allowing player and game data to be recorded instantly and immutably to the blockchain.

Data can be written to the chain in real time as it is generated, and shared seamlessly with regulators on a permissioned basis.

Nick Hill

So rather than keeping compliance records to be made available on inspection, blockchain technology allows operators to record this data at the point of origin; which in turn means they can demonstrate effectively how their compliance obligations have been met.

Data recorded to the blockchain is also timestamped, creating a perfect audit trail for irrefutable proof. The net effect should be a world in which regulators have less scope for fining operators, and where operators can make sure they are fully and automatically recording the data they need to satisfy AML and KYC regulations.

NChain’s Andy Mee described how the process of better data recording starts with BSV Blockchain. In his presentation to the CoinGeek Conference in New York, Mee said BSV Blockchain alone was enough to serve as a point of reference for checking consistency. “It starts with BSV Blockchain.

This is a global commodity public secure immutable ledger. That alone means we can use BSV blockchain as a point of reference when we’re checking consistency. But actually using BSV blockchain, there is some involvement here, some factors you need to take into consideration.

How do you create a transaction, how do you fund it, where do you get those funds from?”

However, with BSV blockchain as it currently stands, pulling this functionality together for gaming operators requires a considered approach. The iGaming landscape is international and cross border, with fragmented

regulation and data. A tool that unites all of these disparate data sets into one workable environment therefore stands a chance of revolutionising the sector, and providing a whole new platform for effectively managing the compliance burden.

For some operators, this could well be the difference between substantial fines, often running into the millions of dollars, or an easily demonstrated audit trail that proves their innocence beyond doubt. Yet here is where blockchain products can negate the need for more complex data storage and recording solutions; instead allowing all data to be written to the chain directly, where it can be accessed by regulators as required. It also allows data to be fed into smart contracts and other automated functions via the blockchain, which can deliver efficiency as well as process gains through a number of other business functions.

By getting the Malta Gaming Authority and others on board, with access to the blockchain data directly, several steps in the process can be eliminated, making for a more streamlined relationship between regulator and operator.

Using the tools on nChain’s Kensei, Crucial Compliance and Bitcoin SV, the iGaming industry looks set to become more integrated, with greater data integrity and improved compliance procedures. For regulators, this means a more compliant industry.

For the operators at the heart of it, this could translate into significant savings in fines, penalties and other costs of compliance.

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FEATURES KINDRED - RELAX

The other side of the coin, with Relax Gaming We’ve heard from one side of the transaction, now Co-Founder and Chairman Patrik Österåker gives Tim Poole the lowdown on Relax Gaming’s view of the Kindred Group acquisition Did Relax Gaming always have this kind of deal in mind with Kindred Group, given it was previously 1/3 owned by the operator?

I suppose it has been in our peripheral vision for some time, given that we’ve been expanding exponentially in recent years, which means we’ve naturally attracted both industry attention and that of potential investors.

The other thing is that Kindred and Relax have had a complementary partnership for over a decade and with that

comes familiarity with our team, processes and roadmap, so completing a sole-ownership acquisition has ended up being a logical step.

From a business perspective for Relax, that time-forged relationship and consequent understanding means continuity without disruption, as we continue to grow and deliver on our strategic goals. Also, as we’re active in a wide range of regulated markets, this benefits our servicing of third-parties, which remains paramount, as does developing new tools to assist with regulatory heavy lifting. What’s ultimately important is that the delivery route of both our content and partnership content will remain the same for all our operator partners, and is both robust and scalable.

We have discussed the benefits to the operator with Kindred CEO Henrik Tjärnström. But what are the biggest benefits on the supply side for Relax Gaming?

Kindred is a leading operator and comes with the natural benefits of an established owner, strong backing and additional security; but there’s also great value in consolidating ownership under a single entity on decision making. For Relax and its staff, it means the continuation of our existing business practices, maintained independence and peace of mind for our employees – something that was paramount in any agreed deal. We’re proud to have an incredibly low staff turnover, with some key members having been at Relax since the start, 11 years ago, and we’re able to maintain this essential advantage under the Kindred deal.

To be able to operate a successful business,

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as we have done since start-up, it’s absolutely key that we look after our people properly.

Kindred’s understanding of Relax put it in the strongest position to maintain that.

Recently, Flutter Entertainment purchased Singular in another similar example. Do you see this trend of Malta-based suppliers being taken over by operators continuing?

As in any industry, the procurement of platforms with proprietary technology that has proven itself to be scalable and robust will always attract interest from parties that need it. The alternative is a white-label or building from scratch. The first doesn’t guarantee a fit and the latter takes time, investment in the right people and the results are never guaranteed. Purchasing existing technology gives the buyer security, and allows them to understand exactly what they’re getting. Where it’s a requirement and the right assets are available, this kind of deal will continue to be attractive.

We understand Relax will continue under a ‘business as usual’ policy, certainly retaining its leadership and independence. With that in mind, what are the company’s goals for 2022?

Absolutely. As already mentioned, Kindred knows Relax well, our makeup, teams and the way we work. The confidence that led to the acquisition in the first place provides the same faith in us to continue doing what we do without intervention. The drive for excellence has allowed us to reach the point that we have (and we’ve achieved much in a relatively short time) but we still have further and ambitious objectives.

The strategy thus far works and as part of the agreement, we’ll continue to run as a separate entity with the same goal and vision as we’ve always had, to drive differentiation via delivery of content. As always, we are looking to

KINDRED - RELAX FEATURES continue our game development process and have exciting new concepts to launch.

We will naturally also continue to sign new partners and expand our distribution reach with many new tier-one operators coming through.

A key focus for the coming 12 months will be our new regulated market openings and developments, as well as features to be added to our newly announced Relax Apex architecture framework, which opens up a great deal of opportunities.

Will it feel strange within the development team to be making content for other operators and content just for Kindred?

I don’t anticipate any changes for our development teams so the short answer is not really. For the best part of four years, we’ve been operating in a largely similar fashion and the transition is purely in ownership, so it’s unlikely the teams will see or feel any real impact on a day-to-day level.

Patrik Österåker

For the best part of four years, we’ve been operating in a largely similar fashion and the transition is purely in ownership, so it’s unlikely the teams will see or feel any real impact on a day-to-day level We’ve created custom content for Kindred for some time, and were founded on our exclusive supply of bingo and poker products, so the acquisition strengthens the protection

of Kindred’s investment. The only thing that will change is a greater understanding from a single owner.

We’ll continue to serve every customer we have and take on new ones that provide market growth for Relax, and our third-party studio partners.

We at Gambling Insider have dubbed this kind of deal ‘integrated independence,’ whereby two companies merge overall but maintain their own independence at the operational level.

Is this a fair phrase? (We’re hoping it becomes a thing!)

Possibly! But in reality, it’s less about integrated independence and perhaps more about protected or maintained independence. Kindred purchased a business in a strong and sustained growth phase, with no intention of disrupting the flow of our strategy and organisation.

Why would you change a formula that has proven successful?

The deal with Kindred will, like most things we look to do, result in a seamless transition that allows us to maintain the trajectory we’re fortunate to be on.

The journey toward our goal has, and will continue to be, both rapid and sustained in terms of distribution and market reach.

We’re still actively working with key operators and will maintain our increase in distribution by adding new partners across our business. We do this from a position of strength, not only endowed by the efforts we’ve ploughed into our Silver Bullet/Powered by Relax initiatives and our proprietary content, but going beyond this with further technical proficiency in solutions such as Relax Apex.

Through this and our commitment to business simplicity, we believe we’ve created a formidable base for ourselves, and Kindred has long since recognised that.

It’s now down to us to continue doing what we do best to justify that confidence – and it’s a challenge we relish.

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EVENT PREVIEW SIGMA

Up next: SiGMA Malta SiGMA returns, back with a bang this 2021. Following the closure of the 2020 event, Gambling Insider previews the tradeshow’s return – and it’s a safe bet it’ll be worth the wait This year will see the seventh edition of SiGMA Europe, taking place between the 15th-19th November at MFCC (Malta Fair & Conventions Centre) in Ta’ Qali. Three key topics will highlight the show: emerging trends, hubs and technology. So far, the turnout is expected to be a bountiful assembly, with already 12,500 confirmed attendees and 400 exhibitors ready to set up shop (or shall I say stalls) for the event’s many ticket holders.

This is a huge step up from its primary show which held around 1,000 guests, so it’s the perfect convention for gaming industry professionals to get their teeth stuck into.

SiGMA commences its exhibition on 16th November with a 9am welcome speech in the conference room outlining the overall event. From 9.35am, none other than The Prime Minister of Malta (alongside the Minister for the Economy), will take to the mic and present the keynote speech to SiGMA guests.

Various conferences are available to attend up until 6pm of the event, including a speech from Akon; Artist, Chairman and Co-founder of crypto-currency, Akoin, and, considering the large number of guests confirmed, I’m sure he won’t be feeling “lonely” at this year’s affair. With three tickets available to purchase, ranging from standard to premium and platinum, a plethora of parties, networking opportunities and dinners will be included.

With a full schedule of conferences and networking, SiGMA has managed to uphold its energetic reputation, previously described as “absolutely shattering but we power through.”

So, if the event is anything like its former years, it’s expected there’ll be no rest for the wicked.

Since 2001, the Maltese gaming industry has inflated rapidly, becoming a sanctuary for gaming companies, with hundreds of companies choosing Malta as their home,

(including industry giants like Betsson, Tipico and Betfair).

During the opening day, an IMGL Masterclass will see the first afternoon in full swing with topics of player protection, advertising, responsibility and regulations.

The event will have workshops surrounding NFTs and Asia, Focus CIS and hold conversations on the Future of iGaming.

The consideration of Africa becoming an emerging market has not gone amiss, with the latter end of the tradeshow’s workshop rooms dedicated to the continent becoming the next big thing in iGaming.

With such positive growth in the commercial segment of the betting market since the pandemic, it’s game on for Africa.

In view of Malta alias being the “Blockchain Island,” the rapidly emerging technology remains a discussion of importance for the industry. During SiGMA’s second day, there will be an exploration of the vastness of the blockchain economy, its evolution, legal issues

Since 2001, the Maltese gaming industry has inflated rapidly, becoming a sanctuary for gaming companies, with hundreds of companies choosing Malta as their home 14 GAMBLINGINSIDER.COM

surrounding cryptocurrencies and moulding the future of a digital economy.

M&A investments alongside SPAC and IPOs will take over the majority of the conference room’s lectures, with workshops on Investment and Venture Capital and Deep-tech, and ending in a two-hour seminar on artificial intelligence.

The last day of the event will include final subjects including but not limited to: remote working, LatAm, slots and esports betting conferences. With several pioneering women thriving as professionals in the gambling industry, a ‘Women in iGaming’ meetup will take place, raising the subject of maintaining a professional balance alongside a healthy personal life.

One cannot forget to discuss the infamous iGathering parties. With no expense spared, these events are the glue that holds the conference together, the cement to the bricks, the cream to the cake. Of course, take away these gatherings and the event would still be what we know it as today; however, the exclusive luxury experience and momentary ‘let your hair down’ moments present an ideal opportunity to form relationships with industry professionals through networking.

So, if you’re reading this from the comfort of your own home, you’re probably too late (to attend SiGMA Malta). However, all is not lost as it’ll be back in 2022. And this time expect it to be more than just “hot and jam-packed” in 20-degree Maltese winter heat.

Bring your sunscreen, folks.

COMPANY PROFILES

In focus:

Sportingtech What is your main service?

Sportingtech is an iGaming software specialist, focused on developing scalable sports betting and iGaming solutions for all kinds of business worldwide. Recently, we have placed a greater emphasis on working within regulated markets, with our products being certified for use in key gaming regions, such as Europe, LatAm and North America.

2021 has proven to be an important year in Sportingtech’s proud history, with the release of our re-purposed Quantum platform breathing new life into our product offering. The updated platform benefits from new technology we have developed, with a key focus on providing scalability and reliability for our partners.

With a host of new features, the new-look Quantum has been designed to provide operators within regulated markets with a world-class sportsbook and iGaming platform.

Who is/are your key personnel?

As CEO, I’m responsible for the overall direction and growth of Sportingtech.

For more than 20 years, I’ve been involved in creating turnkey betting solutions for operators, as well as offering consultancy and advisory services. My legal background has been vital over the years in helping operators launch into newly legalised territories and advise regulators.

In recent months we have added several key individuals to our senior team. Elisa Libanora joined as our new Chief Financial Officer, and has extensive experience after holding senior positions across the accounting departments at several major iGaming companies. Jhuana Lamas also arrived as Business Development for Brazil, in a move which strengthens our commercial expansion efforts within the country. We also welcomed Catarina Veras as our new HR manager, and she has a great track record of helping organisations achieve business growth by recruiting and retaining the most talented people. Last but not least, Jordi Viles joined the team and his experience in regulated markets and certification is vital in our ambition to enter more legalised jurisdictions over the coming months.

IVO DOROTEIA, CEO, SPORTINGTECH What makes you stand out?

The Quantum platform is our flagship product and what makes Sportingtech so appealing to operators across regulated markets. Its scalability and robustness reassures businesses that they have the right platform to achieve strong business growth. Through Quantum, we offer 35,000 live events per month that are proven to increase revenue generation and customer satisfaction.The turnkey sports betting and casino platform boasts more than 65 sports with over 1,000 betting markets, as well as a casino experience offering 9,000 games from hundreds of the industry’s leading studios.

Another aspect of Quantum that makes it stand out from the crowd is the way it can be customised to meet the individual requirements of each organisation.

The solution is flexible and modular, providing the capability to manage and integrate any features that suit specific market and business needs. Our existing operator customers place huge value on the ability to take full control of their operations and configure the sportsbook to create a player-centric betting experience.

What’s your strategic outlook for 2022?

The previous 12 months has very much been focused on “the comeback” of Sportingtech, with our re-purposed Quantum taking our overall offering to the next level that can deliver growth for operators. As we look ahead to 2022, we are embarking on a new era.

We are ramping up our efforts to extend the presence of Sportingtech in regulated markets across the globe. We see huge opportunities to work alongside more operators in LatAm, especially as more regions embrace regulation.

Canada is another interesting market we are exploring as provinces across the country introduce updated frameworks. Of course, consolidating our presence in existing markets is a key focus for us, too. Sportingtech enjoys a strong position in Spain and Portugal, as well as Mexico and Peru.

The return of in-person tradeshows is great for the industry and provides us with the perfect opportunity to showcase just how far Sportingtech has progressed in the previous 12 months. Next year, we envisage even more growth as operators of all sizes recognise our credentials, as a provider of scalable solutions in key regulated markets.

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COMPANY PROFILE BETSSON GROUP

Introducing Betsson Group

Betsson Group is one of the most established and largest organisations in the global gambling industry. We operate hugely popular online casino and sportsbook brands around the world via 19 licences.

Our vision is simple – to provide the best customer experience in the industry and we achieve this by using best-in-class technologies, and leveraging an abundance of data and insight to constantly improve our products.

At Betsson, it’s all about people and there are some 2,000 talented individuals across Betsson’s 13 offices.

CURRENT OPERATING MARKETS Betsson Group holds 19 licences from jurisdictions in Europe, Latin America, Africa and North America. Much of our business is in Europe; however, we are now growing rapidly outside of Europe. Due to our geographical spread, and broad and diversified product portfolio with many brands, we have been able to continue to drive growth across the business. This also provides a strong foundation for the Betsson Group to continue to enter newly regulated or regulating markets.

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our growth strategy, and we are planning to enter regulated or regulating markets where the conditions are right, and there is plenty of growth to be unlocked. Lately, this has seen us focus a lot on Latin America.

Today, we have a presence in Brazil, Argentina, Peru and Colombia, and recently entered into a partnership to go live in Mexico. In Colombia, we are in the process of establishing a hub in Bogota that will act as the headquarters for our B2C operations in the region.

In addition to Latin America, we are also making a play in the US, where we are taking a different approach to many operators.

While we will be launching as a B2C operator in Colorado, our focus will mostly be on the B2B side, with other operators able to leverage our market-leading platforms and technologies to power their own brands.

We have also made a strategic investment in a PAM (player account management) platform provider, Strive Gaming, to bolster our B2B offering.

We will make our US market debut in the first half of next year, launching our Betsafe brand to players in Colorado. This will allow us to showcase our platform to potential B2B partners.

BETSSON GROUP BRANDS Today we operate more than 20 casino and sportsbook brands and are always looking for potential acquisition targets.

The largest brand in the portfolio is the Betsson brand. The most recent brand we acquired was Inkabet, a fast-growing online casino and sportsbook that has allowed us to strengthen our position in Latin America.

We also launch new brands when we see opportunities, for example Jalla Casino – a pay and play brand we launched in Sweden in 2020, which is performing strongly.

MARKETS OF INTEREST Betsson Group is fortunate to be operating in a growth industry and on the digital side, where there are tremendous opportunities to be explored. Historically, Betsson Group has been focused on Europe (and in particular Sweden and the Nordics) but we are now looking for opportunities outside of Europe.

In fact, geographical expansion is part of

BETSSON GROUP’S MOST POPULAR PRODUCTS At present, casino is bigger than sports for Betsson but with the latter providing the bigger growth opportunity. We have built our sportsbook product in-house from the ground up and, in the markets where we are live, it is performing incredibly well. Sports is ultimately where we see the most percentage growth moving forwards; and that played a big part in our decision to become a B2B provider in the US market and elsewhere.

FUTURE PRODUCTS We have just launched a new native casino app and it is truly amazing. The focus was on designing the most seamless and intuitive user experience, and that we have certainly achieved – we’ve even taken home a few industry awards for it. Following on from this, we will be rolling out some changes to our mobile sportsbook and then plan to build a full native sportsbook app. Just like our native casino app, this will offer an unrivalled user experience and will help unlock even more growth in our sportsbook products.

COMPANY PROFILE RELAX GAMING

Relax Gaming What is your star product?

Relax has gained a reputation for developing high-quality products delivered at speed across a number of verticals. From our multiple shortlisted and award-winning slots such as Money Train 2 and Top Dawg$, through our poker and bingo provision, to our latest innovative initiative, Relax Apex. The latter is almost a microcosm of everything we strive to excel at – it harmonises the approach to a multitude of technical requirements, market standards, promotional functionality, and custom integrations to create a one-stop-shop approach to game content provision.

This makes operators and its game content partners’ lives easier, faster and more reliable.

It’s a scalable solution that takes care of almost all of the heavy lifting required in being market-ready, not only for our own benefit but also for our partner studios.

Who is/are your key personnel?

As the company has evolved over the last 11 years there have been, and still are, great superstars in the Relax organisation. We pride ourselves on hiring the best talent in all fields and that has helped accelerate our growth in all disciplines. As we pride ourselves on technical excellence we have talented developers who have helped construct the service and offering today. Facilitating our growth we have a top legal, finance and compliance team who understand the pressures and importance of accuracy and speed. To complement our great speed and market awareness, of course we have senior management who know the business and support key staff in sales, marketing and account management. A company is not built on one or two top talents but on the general skillsets, passion and dedication of many.

What makes you stand out?

At a high-level, what we do is simple: from a robust technical foundation we deliver a

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diverse, top-tier selection of products, at speed, and with the minimum of fuss.

This is driven by the talent highlighted in the previous answer, who are ably supported across our entire operation.

As a consequence, 2021 has been another year of rapid growth and success for us all at Relax. We have greater distribution, more partners joining the aggregation side of the business, and the number of games available has increased to over 2000.

While there’s some discussion currently about industry awards, we gratefully received a large number throughout 2021.

That doesn’t happen by chance. The team genuinely appreciates the recognition of their efforts. It also serves to reinforce the importance of our longstanding company ethos of providing the products that people

want, in a manner that suits the fast-paced nature of a hugely competitive industry.

What’s your strategic outlook for 2022?

As ever, it’s to sustain and exceed our levels of growth and to surpass expectation across the board. We aim to penetrate further into new and existing markets, widening our distribution with key and strategic top-tier partners. Supporting this are our partner programmes, Silver Bullet and Powered By Relax, both of which are evolving to become even more appealing with an exciting list of additions planned. We also have a very strong year planned for games, with engaging titles in the works that continue to offer the unique functionality and immersive gameplay that keep us at the forefront of content provision.

COMPANY PROFILE GREEN JADE GAMES

Green Jade Games

What is Green Jade Games’s star product and what makes you stand out?

We value conventional slots and enjoy playing them. However, our modus operandi is to change the industry. The problem we are solving is an industry-wide issue – stagnant active players, increased content and lack of product differentiation to help to grow the addressable market. Our DNA is Arcade Skill.

Backed by 18 months of proof of concept, market testing, independent research and direct tier-one casino feedback, we know we’re on the right track with our proposition.

The star product is the delivery mechanic of the content. We learnt that the games in and of themselves generate the increased KPIs required – Avg. Bet, Time on Screen etc, but the positioning of the games was the 20 GAMBLINGINSIDER.COM

issue. Players didn’t know what they were playing and casinos didn’t know where to place the games. We will solve this next year.

Who are the key personnel?

The beauty of Green Jade is that we are a small and tight unit. We have a team full of eager, capable individuals from all backgrounds and walks of life. We don’t like to isolate anyone as a ‘key’ person. We are the sum of our parts.

We are actively looking for people to join our team as it goes. In order to deliver a proposition which will change the industry, we need the best talent from within or outside of the industry. The majority of roles we are looking for are tech. Back-end, front-end, product owners. Notwithstanding, however, we will always find a home for good people.

We are open to remote working, having taken a positive lesson from the pandemic.

Our only requirement is that you are based +/- 2hrs CEST. Feel free to send us a note – hello@greenjade.com.

What is your strategic outlook for 2022?

The strategic outlook for our industry going into 2022 and beyond is very bright.

Regulation will continue to play a strong role in ensuring the safe growth of our industry. The opening up of not just new countries, but new continents – Africa, North America – presents endless opportunities for organisations in our space. We have a very clear strategy: arcade and new market entry. It is going to be a lot of fun.

COMPANY PROFILE EXACTA SOLUTIONS

Exacta Solutions A young company with a strong pedigree, Malta-based Exacta Solutions brings years of experience to bear on the issues faced by new and growing businesses. With experience in executive recruitment, headhunting and management consulting, and an unrivalled network of experts from various backgrounds, Co-Founders Chris Vella and Anthony Hennessy have built the company from the ground-up to help you reach your business goals.

What is your main service?

Exacta Solutions’ main focus lies within the iGaming market, which is the area in which the team holds the highest level of expertise.

The iGaming space has been experiencing growth for the past 15 years, with no sign of decelerating. When Chris first penetrated the market back in 2005, iGaming was still in its infancy here in Malta. As the industry landscape developed, it started to diversify into other areas related to iGaming, such as Fintech and IT - two spaces that Exacta Solutions also operates in.

Within this growing market, Exacta Solutions’ two principal stems of the business are Recruitment and M&A (Mergers and Acquisitions). The company’s recruitment services involve a comprehensive consultation with specialised team members, in order to identify gaps and opportunities for their clients.

In addition to regular recruitment, the team’s collective, extensive professional network allows them to offer C-level search and headhunting to clients.

From an M&A perspective, demand has been strong. Exacta Solutions’ approach includes a number of essential steps when it comes to concluding a successful M&A deal. The role the company plays is a crucial one – bringing one opportunity to the table and matching it to the other party’s expectations. Once both parties agree that they are interested and would like to proceed with the deal, the more technical aspects of the process come into play, some of which may be outsourced to partners. This is where financial diligence, corporate due diligence, the contractual aspect, and price negotiations come in. Once the latter action points are dealt with, the contract is signed and both parties can celebrate.

Who is/are your key personnel?

Co-Founders Chris Vella and Anthony Hennessy set up Exacta Solutions in late 2019, just before Covid-19 rattled industries and shook markets around the globe.

They had worked together for over 10 years in the industry, previously holding positions at another company, before embarking on a two-man collaboration which has now grown into a 13-people-strong team.

The two founders share over 25 years of joint experience in the industry and complement each other in terms of business skills and their approach towards clients.

Their knowledge and skill set, paired with an extensive network of curated industry contacts have led to them building a company which is successful on both an internal and external level. The team they have assembled is able to attract talent and offer a consultative approach to reflect what is happening in the market at the current time.

What makes you stand out?

Exacta Solutions differentiates itself based on its unique international network within the online gambling sector. Their two main areas of expertise – Recruitment and M&A – both have two things in common: network and connections. The bigger you grow in the businesses, the more connections you make and the higher the connections, the more relevant and lucrative they become for the business.

Exacta Solutions’ competitive advantage also lies in its consultative approach. Drawing attention towards the Recruitment side of things, each of the company’s specialised recruiters advise on the way forward, providing in-depth consultation from organisational set-up to reward structures and methods of hiring, rather than simply firing out CVs for particular job roles.

What is your strategic outlook for 2022?

Moving forward, the company looks to keep infiltrating new markets and consolidating their position, in order to expand on the current growth that it is experiencing.

Exacta Solutions is already present in over 30 countries around the globe beyond the Maltese islands’ borders, including the United States, countries in Latin America and mainland Europe.

As business grows, the team hopes to continue branching out into new territories.

The target for Exacta Solutions will be to follow the same trajectory and operate along the same business model, expanding on both a market and geographical level.

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COMPANY PROFILE ASTROPAY

In focus: AstroPay What is your star product?

One Touch is our star product. It is a digital wallet that offers a wide range of benefits including allowing greater control for customers over transactions and minimising risk; receiving deposits with a simple “touch” with automatic approval for recurring users, which enables a seamless interaction between the merchant and its customers. For merchants, One Touch provides KYC verification and identification control, and a simplified integration process through an auto enrolment channel, with little to no IT intervention required on their side. They will also have access to analytics and reports, as well as fraud alerts that meet the levels of security and compliance the industry requires.

One Touch provides users with a secure and rapid tool, enabling them to access contactless payments easily. This payment option is increasingly being adopted as it provides them with the possibility to have their balance in just one place, avoiding the inconvenience of having multiple accounts and payment options.

Who is/are your key personnel?

We have a team of technical and business experts who are dedicated to continuously improving AstroPay’s products and services, for the benefit of our end users and merchants alike. Led by the CEO, Mikael Lijtenstein, AstroPay is growing steadily, and we have seen triple growth in the number of our employees since March 2020.

What makes you stand out?

We have an unparalleled track record when it comes to doing business in emerging markets. For more than 12 years, we have been dealing with the specificities of each market across Latin America, Asia and Africa; this has provided us with a great extent of experience in developing strategy, as well as innovating products and services to satisfy users from different cultures and backgrounds.

Understanding the end users is of paramount importance, especially when providing a way of payment and building a sense of trust and security.

We are proud to be the local payment option of choice for our users; we achieve this by understanding their language and how they like to pay, as well as their access to different electronic devices, connectivity and technologies available to them.

Having the experience of working in so many different markets makes us unique and agile when adapting to consumers’ ever-changing needs, and providing our clients with a reliable payment solution. We devote many resources in our engineering process, including specific tools to obtain user feedback and analyse it. We use different metrics to measure conversion rates and we make adjustments when necessary, based on the analysis.

This process makes us very agile

when changes are needed, and it enables us to have a strong response capacity.

Led by the CEO, Mikael Lijtenstein, AstroPay is growing steadily, and we have seen triple growth in the number of our employees since March 2020

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What’s your strategic outlook for 2022?

We will continue to focus on improving our product and developing new functionalities, to deliver a better user experience as we expand into new markets.

In terms of operations, we are also looking to grow our team to support our expansion across Europe and Japan.

COMPANY PROFILE EM@NEY

In focus: Em@ney What is your main service?

Em@ney Plc is a Technological Electronic Money Institution which has all the solutions for businesses to facilitate their payment services. As our logo goes, “Not a Bank! Much more!” is due to the various personalised services we are able to provide to our clients, working in different sectors to facilitate their personalised payment systems. The electronic wallet, which replicates a business account, provides all clients an easy-to-use platform, customer assistance, an assigned IBAN,

and various personalised features according to the client’s requests.

Who is/are your key personnel?

We have a great team of personnel who have been working in the financial industry for the last 20 years and the Institution has been open for 10 years in Malta. This has helped Em@ney Plc to grow in a fast and gradual manner, to be one of the leading Licensed Electronic Money Institutions in Malta today. Our vast experience has enabled us to

We have a great team of personnel who have been working in the financial industry for the last 20 years and the Institution has been open for 10 years in Malta 26 GAMBLINGINSIDER.COM

identify the client’s needs, thus enabling us to provide the customers with personalised solutions. which will enable them to have an easier banking solution.

What makes you stand out?

The two major things which make Em@ney stand out are: the ability to pay a payee without knowing his banking details and the capability to simplify massive payments with just a few clicks. This has allowed us to become a leading partner to many businesses, including governmental entities, which has enabled them to utilise their energy on more problematic matters and not worry about payment transactions.

What’s your strategic outlook for 2022?

We are looking at 2022 as a better year yet to come! We have recently moved to a bigger office in TRIQ IX-XATT TA’ XBIEX, Msida, and with the new office we have also been preparing to increase the presence of our mass payment services in the whole of Europe. Therefore, the strategic outlook for 2022 is definitely to continue expanding our horizons as leading partners in massive payments service providers to all our clients.

COMPANY PROFILE DIGITAL ASSET MANAGEMENT

In focus: Digital Asset Management DAM delivers innovative cross border payment and digital asset OTC services

Digital Asset Management Ltd. has been delivering innovative and cost-effective Cross Border Payment and Digital Asset OTC services to the global iGaming sector since 2017.

DAM delivers key business solutions in two areas: • The seamless repatriation of funds from markets around the world via our extensive local trading partnership networks, and the innovative use of stablecoins to overcome market restrictions and/or exorbitant transaction fees; and • OTC exchange of stablecoins and cryptocurrencies into fiat (GBP/EUR/ USD) via our 24/7, personalised and fully 28 GAMBLINGINSIDER.COM

regulated OTC trading services.

DAM supports a global roster of over 500 clients across iGaming, FX and higher risk Payment Service Providers; as well as institutional investors, High Net Worth Individuals and Family Offices; and has executed over €1bn ($1.16bn) in transactions.

DAM’s team of 35 can draw on a breadth of experience, with varied backgrounds in traditional banking and financial services, digital asset and fiat trading, software engineering, and the iGaming and payments sectors; allowing it to tailor services expertly and knowledgeably to meet our client’s specific requirements.

DAM is one of only 14 Distributed Ledger Technology (DLT) companies licensed by the Gibraltar Financial Services Commission and maintains its head office there, with further offices in London and Miami, and plans for further expansion in 2022.

As the global adoption of stablecoins and other cryptocurrencies continue to increase, so does the convergence of the cryptocurrency and online gaming industry. DAM believes that stablecoin and crypto payments will continue to penetrate the online gaming industry in 2022.

DAM is launching IBAN accounts and a Visa Card Program in 2022 to continue building its regulated fiat/crypto ecosystem.

COMPANY PROFILE HABANERO

In focus: Habanero Vera Motto, Business Development Executive, tells us everything we need to know about Habanero What are Habanero’s star products?

We’re very proud of our portfolio which boasts around 150 games, including a wide variety of amazing slots and table games, the latter of which is a big selling point for our business. Our timeless hit Scopa! Is especially popular with our global audiences, despite being designed with Italian players in mind.

We have a wealth of innovative bonus tools that we’re constantly improving, and offer a constant rollout of tournaments and jackpots, with our trademarked Jackpot Races proving to be especially popular across Latin America and Europe in particular.

Who are your key personnel?

I’d have to say the one and only Arcangelo Lonoce!

A true industry veteran, our Head of European Business Development, he has been truly instrumental to our European expansion since he joined us in late 2017, earning the business a strong presence in the Italian market, as well as keymarkets in Spain, Portugal and soon enough, Holland.

His role as Head of Business Development has now expanded to oversee our operations in Latin America, Africa and other key markets.

Also, I’d like to give a mention to our product team, who are responsible for the magic that occurs behind the scenes.

We’re famous for our great mathematics, exciting design as well as pitch-perfect sounds, and these people are the ones truly responsible in making our games stand out from the competition.

What makes your company more generally stand out?

Apart from our driven workforce and pioneering collection of games?

It’s all about our customer service – we are recognised for being leaders in how we support our operator partners, and we’re always available for assistance, helping us to really maximise our product performance and ensure that revenues are always ticking over.

Our platform is another thing that helps us stand out. We employ the latest technology to ensure we’re always at the forefront as a supplier. This is especially the case with flash and HTML5, as well as with the optimisation of portrait mode for games as we all know how important mobile is.

What’s your strategic outlook for 2022?

It’s all about pushing our status in tier one regulated markets, like Holland, Belarus, Argentina, Panama and more - they are all on our radar.

We have just launched our revamped

tournament and gamification widget “Up” which is sure to go down well with our partners and players.

We are also certified in more than 18 jurisdictions, so it’s all about adapting our offering to our customers’ needs in each of those markets and ensuring they comply with regulations.

Vera Motto

It’s all about our customer service – we are recognised for being leaders in how we support our operator partners, and we’re always available for assistance, helping us to really maximise our product performance and ensure that revenues are always ticking over Arcangelo Lonoce

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COMPANY PROFILE SOFTSWISS

In focus: SOFTSWISS GAME AGGREGATOR All SOFTSWISS clients also have access to the content of the Game Aggregator, which brings together more than 170 game providers and 11,000 casino games from, 3,000+ of which are optimised for cryptocurrencies. It’s a great package solution that saves our clients time and helps them offer only relevant games to their players.

AFFILKA For business development purposes, the SOFTSWISS ecosystem includes a platform for affiliate marketing – Affilka. This easy-to-use tool helps connect the operator and its affiliates. Moreover, Affilka’s setup is free for the client, while the Affilka team takes care of all the system customisation and training of the operator’s team.

NEW SOLUTIONS: SPORTSBOOK AND JACKPOT AGGREGATOR The recently launched SOFTSWISS Sportsbook allows operators to run an online sports betting business, while the Jackpot Aggregator, a Jackpot as a Service solution for creating jackpots across any iGaming brand or product, is also available to operators.

What makes you stand out?

For more than 10 years, we have been helping our clients launch profitable projects, and achieve success and recognition in the iGaming industry. This has been made possible by top customer service. Software security and stability are qualities that SOFTSWISS clients can always count on. And the results of our work prove it: • Since 2009, the company has grown to 900 employees.

• The SOFTSWISS Game Aggregator has recently met the €250m GGR goal.

• Our software is licensed in seven jurisdictions, including Serbia, Greece and Nigeria, which the company received in 2021.

What is your main service?

SOFTSWISS is a widely acclaimed iGaming expert and the very first online gambling software company to start working with cryptocurrencies.

The brand introduced a bitcoin-optimised online casino solution in 2013.

Founded by Ivan Montik, the SOFTSWISS brand appeared in July 2009 in Minsk, Belarus. The company has an international team, which counts 900 employees and has an official presence in several countries, such as Malta and Poland. Today, the SOFTSWISS client network counts more than 130 iGaming brands working on the SOFTSWISS Platform.

Being a leading-edge iGaming provider, SOFTSWISS steadily enhances its product 32 GAMBLINGINSIDER.COM

portfolio with continuous innovations and increases the quality of its services, providing customers with first-class industry solutions.

ONLINE CASINO PLATFORM To date, SOFTSWISS is an ecosystem of products and solutions that enable the launch and development of online gaming.

Our clients can take advantage of an Online Platform that provides white-label casino solutions. SOFTSWISS offers an opportunity for clients to officially operate under the Curaçao and Malta licences, benefit from a ready-to-use financial infrastructure, and offer their players a wide range of payment methods.

What’s your strategic outlook for 2022?

SOFTSWISS will continue to adhere to the company’s core values: High-end solutions based on reliability, security and honesty; Expertise of a professional team with over 10 years of iGaming background; Innovative approach to product development and business processes. We plan to continue our global development by entering new markets and setting trends in iGaming. SOFTSWISS recently obtained a Nigerian licence, which opens up new opportunities for us on the African continent.

As a leader in crypto gambling, we will continue to provide particular focus to this area. It may sound too ambitious for some, but we aim to achieve the most incredible goals.

Malta: An insight into M&As As iGaming continues to emerge from the throes of the pandemic, Chris Vella and Anthony Hennessy, founders of Exacta Solutions, discuss recent M&A trends and how businesses can better prepare themselves for a successful takeover M&A activity within the iGaming space has been experiencing unprecedented growth over the last few months, and analysts continue to point towards two main catalysts for this recent surge. In the wake of the pandemic, which effectively ground many sports to a halt, online sports betting operators began experiencing an unprecedented struggle to reach profitability. This resulted in many businesses turning towards mergers and acquisitions to generate cash flow.

Another wave of recent deals was prompted by the strategic need for cross-border expansion, as more iGaming operators seek to establish a stronger international presence.

In these scenarios, stakeholders are opting to buy into existing brands to save on the time and resources typically required to build a successful betting business from scratch.

As M&A uptake is set to carry on into 2022, more iGaming businesses are looking into the potentialities of consolidating their company. However, without the right preparation and care, businesses risk losing all the competitive advantages they hope to gain. That’s why more and more stakeholders are turning to professional M&A advisors to act on their behalf, and ensure they avoid all the pitfalls of this time-consuming and highly sensitive process.

“Any successful M&A deal boils down to matchmaking. By seeking the assistance of a professional M&A advisor, businesses will gain a bridge that connects them to the right investors in this highly competitive market. Once a mutual interest is established between the two parties, advisors will also be able to assist with all the technicalities that come with M&A, from strategy and due diligence through to contractual and price negotiations,” explains Chris Vella.

However, before any business can set about finding the ideal investor, it’s essential that they outline the various objectives and outcomes they hope to achieve through an M&A deal.

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While some firms will simply be seeking to maximise the value of their business at an optimal moment, and may not be particularly concerned about the future of the business in question, others will want to safeguard what they feel to be essential components of their business.

These could range from the corporate culture, to the core leadership team who built that company into an attractive offering in the first place. Clarifying these make-or-break negotiation details at the outset will make it easier to seek out compatible buyers.

Business owners or CEOs will also need to consider how involved they wish to remain with the business going forward. If they are planning to step away entirely, potential investors will need to feel confident the business can continue to run efficiently and gain momentum in their absence. In these scenarios, it is important to have an effective succession plan in place. This will ensure the business will be equipped with the right leadership team to oversee the transition and lead the business forward with confidence.

Vella and Anthony Hennessy have seen many businesses hold on to unrealistic expectations of their worth, which can create something of an impasse in negotiations. More often than not, sellers believe their business to be

worth far more than what the market will bear. Hennessy explains: “It’s important for any business considering selling to analyse the market properly and identify realistic benchmarks that relate to similar-sized businesses operating in their industry.

This will help determine what they can reasonably expect to achieve in best and worst-case scenarios.”

One way businesses can help maximise their value is by crafting a compelling brand story that truly gets to the heart of what makes their enterprise an enticing investment.

Buyers will undoubtedly carry out a pure number-crunching exercise to determine a business’ worth. However, the true value of a firm is also reflected in its legacy, its people and talent; as well as its potential to evolve, reach bigger audiences and generate greater revenue. The story of a business provides a powerful narrative that can spark interest and an emotional buy-in, which will ultimately result in a stronger sale. Arguably the trickiest aspect of any M&A is for owners to find sufficient time to dedicate to the transaction, while ensuring their organisation continues to run efficiently.

“The biggest benefit of using an M&A advisor is that they will shoulder all the logistical responsibilities on behalf of the management team. The last thing any business needs when preparing for an M&A is to experience a dip in their client base and revenue. These are all critical factors that will impact the outcome of selling the business. With the right advisor on board, the management team can keep their eye on the ball and ensure their business continues to perform optimally,” adds Hennessy.

“M&As are a lengthy and complicated process that need attention and care. We highly recommend any iGaming business seeking to sell takes its time to build up a relationship with an experienced M&A advisor, possessing a track record in the iGaming industry. This will result in a smoother and more efficient M&A process for all involved,” Vella concludes.