A LOOK BACK Swintt David Mann, CEO
e wanted to see strong growth during the year, especially as the world was emerging from the worst of the Covid 19 pandemic. This is exactly what we achieved, as we’ve enjoyed more than 35% growth for the year to date. We’ve seen an increase of 76% in our Q3 revenue for 2022 when compared to Q3 last year, which shows how fast we’re growing. We also wanted to expand into new markets, so we are now able to offer our games to players in the Netherlands, Latvia, the UK and Lithuania.
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We released our best performing game in January 2022, called Aloha Spirit XtraLock, as part of the Xtra Series. This was a great platform on which to build our success stories across the rest of the year. In April we released The Crown, our first branded content in collaboration with Vinnie Jones, the footballer-turned-actor who remains a popular figure in the UK. This was a huge step for us in growing our brand recognition and aligning ourselves with a well-known star. Getting licensed in the UK in September was a big deal for us, as it gives us a lot more opportunities to explore. We’re now looking forward to creating more highlights during the whole of 2023 – we’re ready for all the challenges ahead.
On a personal level, I was promoted to the CEO position within Swintt after over three years of building the business, having been the first employee. It has been a huge honour and I’m thrilled to be able to lead such a passionate, exciting, and friendly group into the future as Swintt sustains
our signature rapid growth trajectory.
One of the reasons we managed to grow this year is because we successfully repurposed our land-based games for the online market. We’re doing very well in Germany, for example, because we’re taking games that are very popular and well-known in the land-based market within Germany and offering it online. This meant that during the pandemic Germany became our biggest market, and players who wanted to play familiar games they know, love, and importantly trust, we able to find them with our operators. We also grew our presence in the Netherlands, which also has significant land-based popularity with our games, and is a market where players love classic style games.
There have been a lot of mergers and acquisitions over the past year, meaning businesses have formed into groups rather than maintaining their own individual operations. There is a real sense in the industry right now of having strength in numbers, and a desire to gather expertise together into pools of knowledge. This allows businesses to mitigate risks from being focused on too few markets, leverage their experience to grow into new areas and optimise their costs across the business. We understand the value of having a collection of experts ourselves, because Swintt is part of Glitnor Group, which is always striving to be the most entrepreneurial and fastest-growing business organisation in the iGaming industry. We like to think we’re pretty close to being exactly that.
FSB Chris Graham, Head of B2B Marketing T
he most significant trend has been the change in customer expectations, with the majority of players in mature markets now only wagering with sportsbooks that deliver a compelling product and seamless user experience. Put simply, expectations are much higher than they were even at the start of the year. Responsible gambling is now very much a priority for operators and providers, and it’s our job to ensure we give our partners and their players the tools they need to stay in control of their play. The biggest change? The barrier to entry for providers and operators in key mature markets is much higher now than it was in January. A brand lives or dies based on the quality of its product, and that’s why providers and operators must deliver.
The complexities of regulation are an industry wide challenge and for any ambitious global company like ours it’s something that’s very much in our wheelhouse. We’ve been ambitious in North America this year by procuring licences in a number of states and provinces. Taking this path puts your business and key stakeholders under intense scrutiny, and a successful licence application requires close cooperation with the regulator in each. Our primary goal for the year was to achieve regulatory approval in the key markets we targeted for 2022 in North America - Nevada, Ontario, and South Dakota – and we’ve done just that. We also completed a three-year corporate goal to evolve our business into an end-to-end B2B software supplier operating model after our final partner left our licensed B2C white label business. FSB has emerged from this fully committed to being a global, tier-one B2B platform and service provider. Securing Tier 1 partnerships across Central Europe was extremely satisfying for us as the message of our superior technology starts to ring aloud in the continent. But overall, making strong sides in North America with regulatory approval in our target states achieved. This sets us up strongly for 2023.
16 DECEMBER 2022 GIO
We opened two new tech hubs, one in Glasgow/Scotland and the other in Medellin/Colombia. We needed this additional real estate to continue to scale globally, allowing us to constantly improve our product and streamline delivery time for our partners. Across all our offices, we’ve gone down the hybrid working route. This empowers employees to come into the office on the days that suit them. We’ve found our feet with this post-pandemic way of working and the business and its employees are benefiting as a result.
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