The emergence of several U.S. online casino markets in the last five years has resulted in an influx of global operators and suppliers looking to fulfill The American Dream, conquering the highly anticipated launch.
While state lawmakers are yet to be swayed in their droves to authorize online casino games in a similar fashion to sports betting, the stats unabashedly show the US still offers an extraordinary opportunity for global organizations to realize their geographic growth ambitions. The $5.5bn in revenue reported by the American Gaming Association for the first 11 months of 2023 demonstrates the enormous opportunity that U.S. igaming offers.
Greentube, the digital gaming unit of European giant Novomatic, has spent the last 12 months executing its US market entry strategy. Boasting four state licences, Greentube seeks to grow its reputation and presence in the US to gain new links with operator partners as it evolves away from its Austrian roots.
Meanwhile, further south, the supplier sees another significant opportunity as Brazil gears up to launch a regulated online casino market as part of the sports betting regulation legislation that was passed late last year.
Greentube’s Chief Financial Officer Michael Bauer catches up with SBC Americas to talk about its American ambitions, in both the U.S. and LatAm, and how the online casino supplier has built up a foundation of local knowledge and expertise.
SBC: After a successful 2023, what are Greentube’s biggest strategic aims in 2024 in terms of both product and geography?
MB: In terms of geography, we will continue to expand in the U.S., as we gear up to take our offering live in Pennsylvania and Connecticut. Our venture into the U.S. has been challenging, in many ways, as we learn the ropes in what is a completely different landscape to Europe. Despite the challenges, we have thoroughly enjoyed it and are pleased with the results we have seen and are excited about the future.
We will shortly roll out the first games from our Greentube US and Flamingocatz studios, which both bring local knowledge and have a laser focus on U.S. player preferences and trends. This will help us to further cement our presence in the region.
In Europe, Italy and Germany will remain key markets as well as the Netherlands where we are gaining great traction with our localised content. We are also keeping our eyes on new markets such as South Africa and of course, Brazil, which the entire industry is excited about as it offers great potential.
Our product enhancement will continue with innovation always at the forefront of our strategy and a driving force in 2024 will be the rollout of our revolutionary new tech stack Mynt that will improve how we produce and supply games.
SBC: North America has become an important region for Greentube recently, being licensed in a few states. What is it about the region that entices Greentube so much and how do you tailor your content for American audiences?
MB: The regulated U.S. states offer amazing growth potential for suppliers willing to invest time and resources and that is what we have done. Through the acquisition of Present Creative (now Greentube US) and the stake in Flamingocatz, we have a team of highly experienced and knowledgeable individuals on the ground that has given us a competitive advantage as they know the quirks of the markets.
Historically, the U.S. has been at the forefront of product innovation in the land-based casino sector and, as the online markets mature, this will become the case for igaming as well and we are excited to be a part of this evolution.
Localization is of great importance in the U.S. as player preferences do differ and we tailor our portfolio using themes, mechanics and features that are known to be more popular in North America.
SBC: What do you make of the slow progress of online casino legislation in the U.S. and the existing market’s developments?
MB: The existing markets have developed satisfactorily and we are seeing consistent growth in the area. At Greentube, we are not yet live in all regulated states but are working towards boosting our presence in all relevant markets.
Of course, additional states allowing igaming would be much welcomed to ensure further expansion opportunities in the future. We hope that other state governments will see the success of igaming and consider allowing it, with positive signs in New York on that front, recently introducing a new bill that would legalize online casino and internet lottery in the Empire State.
SBC: Further south, Latin America is the hottest region on everyone’s lips at the moment. What are Greentube’s plans for Latin America in 2024?
MB: It’s been a long time since we’ve seen the hype which we are currently experiencing around Brazil and the new legislation. The country has such a huge population that the potential seems endless, so the excitement is understandable. The market is a top priority in our LatAm strategy, both from an integration and product perspective. As part of our expansion plans, we are also likely to extend our sales team in the country to ensure we have boots on the ground. We will also attend the SBC Summit Rio in March to get some more insight into the latest developments and market trends.
SBC: One of your biggest releases recently has been Diamond Link™: Almighty Kraken. What makes the DL series so popular among players?
MB: The Diamond Link™ online casino game series was designed to create innovative and entertaining slots that thrill and captivate players around the world and now it boasts some of our top-performing titles. The fundamental mechanic is very well balanced and has proven appealing to players in lots of different regions. We also innovate with the themes and add-on features with every new title to constantly evolve the series and keep the content fresh. Last but not least, all Diamond Link™ games contribute to a linked jackpot which builds up faster the more players and titles we have on it. The potential of big jackpot wins is hugely appealing to a wide demographic of players, significantly boosting the popularity of the series.
SBC: What other games can players expect to see on their favorite online casino platforms soon?
MB: A key game release for us is Piggy Prices which will be launched in the middle of January. The title has proven extremely strong in first tests and through exclusive launches, so we are excited about its potential. We are also building another linked jackpot family with a completely different mechanic while also working on several concepts for non-slot content. There’s a lot going on and much to anticipate, so watch this space.
