attempt to establish blanket regional coverage. "We'll cherry-pick markets in Latin America that we think are viable for us, where we think we can make a difference and add value to our partners." Pricing will form part of that approach. Barker says EveryMatrix has established a premium position in Europe but recognises it is less proven in Latin America and can therefore be more flexible while building its presence.


EveryMatrix will also be selective about customers. "It doesn't make sense for us to engage with operators we don't think are going to be able to establish a viable market share that makes this a viable revenue opportunity for us in the long term." Te scale of the ambition is nevertheless significant. Barker points to EveryMatrix's London operation, which has grown to dozens of employees, as an indication of where LATAM could eventually head. "Over three to five years, that's where I fully envisage we'll end up in Latin America as well."


BEYOND THE 'EMERGING MARKET'


Barker also pushes back against the habitual description of Africa as an emerging gambling market. While European regulated gaming has a longer history, he argues that the label can underestimate the sophistication of players in established African territories. "Ten years ago, 50-leg accumulators and Aviator may have made the cut for some African markets. Tat world has gone, particularly in South Africa, Kenya and Nigeria, which I now call mature markets."


Players are becoming more demanding and price-sensitive, while


casino propositions require a broader range of content. "Te consumer base is becoming increasingly more savvy and increasingly more price dependent. Tey will search for better odds - they always have done. Te casino offering also has to come with a greater breadth of content than has previously been the case."


EveryMatrix's challenge in these territories is partly one of recognition. While Barker believes the company has reached the point in Europe where major operators looking for a new platform, sportsbook or casino supplier are likely to include EveryMatrix in the conversation, that position has yet to be replicated elsewhere. "In Africa, at the moment, many operators still don't really know who we are and what we can do."


Te goal is to change that through selected markets where EveryMatrix can demonstrate its products and establish reference customers. "In the longer term, with some market penetration and greater brand awareness, we want to become people you have to call if you're in the business of procuring a B2B gaming platform in Latin America or Africa."


WHAT FSB CHANGED


EveryMatrix's acquisition of FSB has provided one route into markets where its previous presence was limited. Barker says the company expected the deal to open doors in the UK, but it also provided opportunities in Africa. Te investment extended considerably beyond the initial purchase price. Te experience has strengthened


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