INDUSTRY INTERVIEW: GREENTUBE Shaping the future
Michael Bauer, CFO & CGO of Greentube
Traditionally, successful land-based casino games are often adapted for online play. However, Greentube, Novomatic’s Digital Gaming and Entertainment division, has bucked this trend. Its successful online-first game, Piggy Prizes Wand of Riches, will soon be available in physical locations throughout parent company Novomatic’s estate. We spoke with Michael Bauer CFO & CGO of Greentube, to learn about its unique approach to game development.
What were the important milestones for Greentube last year, and how did you ensure you accomplished them?
Greentube’s key milestones last year focused on US expansion and new market entries. We successfully strengthened our US presence by launching in Connecticut and expanding with more Michigan and New Jersey operators. While we didn’t launch in Pennsylvania as planned, despite receiving regulatory approval, that’s now a key target for 2025. Overall, we’re pleased with our US market growth. We’ve seen increasing numbers and achieved a significant milestone by going live with Fanduel.
Another major focus was Brazil. The regulatory landscape was unclear for much of the year, particularly regarding supplier requirements. We received that information very late, leaving little time to prepare and certify our games. Despite this, we managed a last-minute push and launched with a substantial portfolio of 20 games on January first, positioning us as one of the leading suppliers from day one. This was a significant achievement. Finally, regarding the rollout of our incredible new tech stack, Mynt, we made good progress while not fully achieving all our goals. We on- boarded additional major operators, launched games, and increased game production via the platform. However, our planned South Africa launch, like Pennsylvania, has been shifted to 2025.
How important is expanding your licensing efforts in South Africa and Brazil, after your recent launches and certifications in these regions?
Expanding our licensing efforts in South Africa and Brazil is a high priority. Both represent significant gaming markets and Brazil, in particular, is enormous. Our goal is to become a leading supplier there. Since regulation in Brazil has been a reality, we’ve shifted our strategy to devote more resources to it. Now, Brazil is part of our global licensing process for all upcoming games and we’re fully committed to establishing a local sales force and ramping up our marketing efforts, especially with streamers.
South Africa is another large gaming market where we’re making significant progress. We’re currently finalising the certification of our first integration, which is also our first market using our revolutionary new tech stack, Mynt. We anticipate going live soon, pending regulatory approval. Once we have that, we can deliver our games to the South African market.
Can we expect to see Greentube expand into other European territories this year? If so, where do you see the most growth coming from?
Greentube already has a presence in nearly every European market, with Bulgaria being the sole
exception. While Bulgaria is an interesting market, we believe greater growth potential lies in larger global markets, particularly Brazil, Africa, and the US.
Within Europe, we see significant revenue growth opportunities in the Czech Republic and Slovakia. Although we launched there last year, game rollout has been slow due to licensing challenges. We anticipate growth as we expand our game portfolio and operator integrations in these countries.
Germany presents both challenges and opportunities. While we’re increasing our market share, the overall market is contracting due to regulatory issues, impacting our growth potential. Specifically, Germany’s market is hampered by slow game licensing, excessive taxation, and restrictive product regulations concerning stakes and spin duration. Improvements in these areas, particularly game certification timelines, would greatly benefit the market.
Finally, we’re watching the ongoing discussions regarding iGaming regulation in France. France represents a major market opportunity, and while we don’t expect regulation to be implemented this soon, we’re hopeful for progress in the coming years, perhaps leading to a launch in 2026 or 2027. We’ll be closely monitoring developments and preparing accordingly.
You also made some significant partnership announcements in North America. How important has this market been for Greentube? North America is a key growth market for Greentube, encompassing the US and Canada. We’ve invested heavily in the region over the past few years, building a dedicated studio and team to develop games tailored to this market. We’re now focused on driving further growth and are particularly interested in the potential of new states regulating, such as Florida, which represents a significant opportunity.
In Canada, we’re monitoring developments in Alberta closely and awaiting more details on their proposed regulatory framework. We need clarity on product restrictions, licensing requirements, and whether local server centers will be necessary. Despite these open questions, we remain
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