5 minute read
Lead Interview
from SBC Leaders Issue 20
by SBC Global
DAVID FLYNN: TAKING GLITNOR GROUP TO NEW HEIGHTS
THE GLITNOR GROUP CEO
looks back on his time in the online gaming sector, outlining his predictions on where the industry will be in 10 years time
BY ERIN GALLAGHER
SBC: When did you first enter the online gambling industry?
DF: I personally entered the igaming industry on 18 August 2003, making my first mark in the poker business. That means it is coming up to 19 years in igaming. During this time I’ve worked for five businesses, with the latter being Glitnor Group which I joined in March 2019.
I then moved to the role of Group CEO in January 2020. Glitnor Group was incorporated in April 2018 and over the past four years has enjoyed triple-digit YoY growth.
SBC: What was the main driving factor behind entering the sector?
DF: I’d like to say it was a well-thoughtthrough strategic move leveraging my experience, but it wasn’t. My background is actually Physics and Fluid Dynamics and prior to entering the sector I even spent a few years as a Forensic Meteorologist with the UK Met Office before moving to the private sector working with IT systems.
I then moved to Sweden to take up a position with Ongame AB, owner of Pokerroom.com, which felt like a really good move at the time. This was because I knew I had found
an industry that was young, everchanging, high-paced, entrepreneurial in style and rewarded hard work and smarts. This is still the case today, and I can honestly say I couldn’t imagine working in any other sector.
SBC: What would you say is the main difference between the industry then and now?
DF: The industry has certainly evolved. Some would say it has become more structured, responsible for its customers and of course regulated. Mergers and acquisitions are certainly more prevalent as executives need to provide increased growth for shareholders. However, I feel that the basics of the industry are still the same. Open, and for the most part entrepreneurial, and still incredibly fast-paced.
What’s more, the respectable companies managing responsible gaming are indeed more numerous but it shouldn’t be forgotten that responsible gaming best practice has been in place since 2004. Something I’m very proud of was setting up the first responsible guidelines and practices for PokerRoom.com back in 2004, with self-imposed deposit limits, time-outs and self-exclusions, backed with responsible gambling support channels. Today, the safe gaming challenges differ from those we had back in 2003, but our approach to them is fundamentally the same.
In terms of the types of offerings within the industry, there was a prevalence of poker in the period from 2003 to 2006. This was when Paradise Poker held the number one spot prior to Party Poker’s big marketing splash in the US. Of course, UIGEA changed many things in that respect, which I’ll come back to in the next question.
SBC: What factors do you believe have driven this change?
DF: The change in the type of challenge being faced is more aligned with governments realising that there is a significant industry here. One which they are able to tax appropriately (in most cases) to drive significant benefits for the government and its people. UIGEA had an obvious impact on the US market, particularly on the poker industry.
The subsequent removal of poker tournaments and shows from the public domain hurt the industry hard. This drove operators and providers to accelerate the growth in online casino games and ultimately live dealers.
SBC: How has your business evolved over this time?
DF: As I mentioned, Glitnor Group is just short of four years old. However, our strategy is different than if we would have been in existence for 10 or 15 years. For example, we recently acquired the KaFe Rocks Group, one of the leading affiliate businesses in the industry.
The background to this is that we foresee continued M&A in the space, especially in the US market. This wasn’t the case five or more years ago. We believe that it is important for any group to be in a position to be able to take advantage of the opportunities that further planned regulation brings to the industry.
SBC: What has been the trickiest moment in your career?
DF: That’s a really tough question because it’s hard to find many or indeed any. There have been challenging moments for sure but that is what also makes the igaming industry so appealing. No two days are the same!
SBC: Looking at the positives, what have been some of your highlights?
DF: Again, this is a very tough question. This industry has been very kind to me, offered me the opportunity to grow and develop, and more importantly make friends with people from all over the world.
Moments I remember most are the celebrations with the teams, whether it’s great delivery, new client launch, new market launch or even on one occasion a start-up that needed some real effort to become profitable – and then taking a ski trip with the whole team to celebrate that achievement.
SBC: How did these moments influence the course your business has taken?
DF: For Glitnor Group, it’s ensured that we focus on the important things that can often be overlooked, like celebrating our achievements, ensuring that we reflect on where we have come from and what we have achieved as a team.
SBC: If you were to look into that metaphorical crystal ball, where will the industry be in another 10 years?
DF: It will certainly be bigger than it is right now. Today, it is estimated that just 22% of all gambling is online. Not only will gambling as a whole continue to thrive globally, but online gambling will, in time, become the predominant form just as booking travel online accounts for more than 80% of all
travel bookings globally.
M&A will continue and so the bigger companies will indeed get bigger. That is not to say that opportunities won’t be available for the fast-paced entrepreneurial start-up, especially at a local level.
From a market perspective, several more markets in South America and LatAm will be regulated and indeed we’ll see igaming across approximately 50% of all states in the US. Exciting times. •
