INSIGHT
MALTA OFFICE VISIT RELAX GAMING
How localised is Relax Gaming’s commercial approach?
We have three commercial hubs. Most of our team is based in Malta because it's easy to find talent over here and many customers have offices here. We have a smaller hub in Gibraltar mostly serving UK facing customers and have a couple of people situated in the UK. Since COVID, a lot of business is done online and through video calls.
Te pandemic changed the world, and the industry has evolved, including an increase in conferences within the iGaming space. Recently, we've had Relax delegates present at SBC North America, iGaming NEXT Valletta CasinoBeats Summit Malta, iGaming Club Malaga and also the Canadian Gaming Summit. From time-to- time, the commercial teams also visit customers directly in their own offices.
How are Relax Gaming’s commercial models different between markets?
We have the same commercial relationship with all our partners for our in-house content. Doing so shortens the sales cycle drastically from 12-18 months to seamless negotiations. We're very transparent about our commercial model and it works well for us.
We don't charge operators anything when it comes to the aggregation side of the business at Relax. We let them negotiate deals directly with individual game providers and we act as a technical partner, serving to enable. Our tech is strong, so it's also convenient for operators to get content through us. We support them with anything they need.
Last year, Relax Gaming launched in Greece and Italy. Could you provide a progress update?
Our overarching strategy is centred around
regulated markets because this necessitates compliance and a promising future growth trajectory. We're live with most customers that are licensed in Greece and Italy.
Italy is a very promising market because there are a lot of big customers and, so far, we've been highly successful. Our Director of Italy, Gianluca Crimaldi, aims to sustain the current positive trajectory we are on in this region. Tere is big potential for us in Italy and after still being relatively new to the market, our journey there has only just begun.
What new markets are on Relax Gaming’s radar?
We are currently in more than 15 regulated markets. In the US we are live in New Jersey and Pennsylvania with ambitions for Michigan and other states.
We also have plans for continued strategic growth within Europe. We are always considering business opportunities to support our customers as much as possible. Wherever our customers go, we try to follow.
From a product perspective, how is the approach different in the US compared to Europe?
Every market is very different and often a tailored approach is needed. Although we can certainly adopt learnings from our performance in the European market, entry to the US requires a customised approach and we have put a great
deal of emphasis on this across departments at Relax to ensure we deliver the best approach, along with a curated portfolio of products which we know will resonate with local audiences. Part of this has also been the decision for our company to operate as RLX Gaming within the US, while still remaining known as Relax Gaming outside of that market.
Another example of Relax Gaming’s flexibility would be in the UK where the games we initially built for the market had a very high volatility and proved popular with streamers, but less so with players there, who preferred lower volatility products.
We subsequently adapted to this and now have different game types in production. One of these new titles, Bill & Coin, was released in January to great success. We have more games of this nature being created specifically for the UK.
What products are upcoming?
Dream Drop is a big priority because it's an innovative product and there are countless opportunities out there for our existing content in regulated markets too. We also have additional tools this year - including tournaments and cash drops APIs.
Tis is something which our customers are currently integrating and we're always on the lookout for new ways to continue offering the most innovative, high-quality products and services possible.
We don't charge operators anything when it comes to the aggregation side of the business at Relax. We let them negotiate deals directly with individual game providers and we act as a technical partner, serving to enable. Our tech is strong, so it's also convenient for operators to get content through us. We support them with anything they need.
WIRE / PULSE / INSIGHT / REPORTS P69
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