PROFILE WHO’S WHO:
How/when did you first get involved with the gaming industry? I founded my own gaming company in 2007. I still operate it as a hobby today. I learned a lot about the various monetisation models gaming companies were using, including real money gambling.
What attracted you to this sector? I like the scale of the successful operators and the unit economics. I also like how many revenue streams there are. I remember in 2008 how the financial crisis collapsed the valuations of the big operators. Something I think about a lot is how to insulate the businesses from another crisis; it is really hard to do in an industry that survives largely on discretionary spending. I am working on some very specific initiatives to help drive non-discretionary spending initiatives that will broaden the revenue opportunities for CashBet and our global partners.
What were you doing prior to the gaming industry? I have been in Silicon Valley for over 25 years working in a variety of software and internet- based businesses. I am very comfortable with high transaction environments with multiple revenue streams. Being a very fast thinker/doer is very helpful in my line of work. I also do advisory work for several companies and am an advisor to a venture capital firm that has a global footprint.
What are you responsible for in your current position? As company president I oversee the strategy and execution of the Board approved operating plan. I am tasked with creating a vision of strong success and creating financials that come from executing that vision. I am working on several global partnerships with the biggest egaming and traditional brick & mortar casino operators in the world. We will share more about that in 2019.
What have been the biggest industry changes you’ve seen in your time? The games are changing for sure, but by far the biggest change is the adoption of crypto. How this happens and who the eventual winners are will be determined in time. Some think the
Ed Brennan This month: CashBet’s President
gambling industry is slow-growth and living off an antiquated business model. I couldn’t disagree more. I am seeing a ton of innovation in eSports and many other skills-based games that are providing a high growth dynamic for smart operators. As Sheldon Adelson says, “Do it different” - he couldn’t be more correct. The innovators are killing it in the world of gambling. CashBet certainly fits that mould perfectly.
What are the biggest positive factors for your sector right now? The strong world economy especially led by the US. People certainly have strong views on the current political environment, but the strength of the economy in the US is undeniable. When you see 50- and 60-year lows for unemployment, you know something has changed. This is especially true when you look at the years prior to 2017. The sea change has been immense, and none more so than for the gambling industry.
And what are the negatives ones – the obstacles to growth? The greatest obstacle for crypto going mainstream is the speed of regulatory adoption. Don’t get me wrong, we’re seeing some real progress in the area – and Malta’s pioneering work in this space will certainly be a gamechanger in providing an excellent regulatory sandbox for others to learn from. The trouble is, the tech world moves a lot faster than governments, and if Europe and the US don’t keep up, they’ll be enacting regulation for technology that left them behind years before.
Looking at your entire career, what do you think was your smartest move? The smartest move by far was moving to Silicon Valley. I have access to the best people and resources compared to any other location in the world. That is starting to change, but Silicon Valley is like no other place on planet earth (and yes, I have been to most other places on earth).
And dumbest one? Trying to time the market in selling equity in various companies. I can never get over the fact that I don’t have a super power to know exactly when the market hits a peak. It is really a childish notion and would require an illegal act to pull off, which of course I have zero interest in.
What do you think the egaming space will look like in ten years’ time? Unfortunately, I am not clairvoyant. Predicting the future that will come from the minds of creative geniuses is a fools’ endeavour. The correct way to look ahead is to wonder what boundaries will be broken. Will 3D/4D take hold? Will VR/AR become mainstream? I think you can imagine a world without limits and will have to wait to see what gets built.
If you’d never embarked on this career, what other line of work would you have liked to pursue? Fighter pilot.
Favourite…
Movie: Science or horror TV Show: Live sports & cool car shows
Band: Heavy metal
Book: The Fountainhead by Ayn Rand
Past time:Past time: ead ng, running,iing,ng weights
ast ime: Read Reading,iin runnrunn
weights eight
Location: Las Vegas
Past time: Reading, running, weights
DECEMBER 2018 61
Food: Seafood (I see food and I eat it!)
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