Betting company Entain PLC, formerly called GVC Holdings, has announced its entry into Colombia with a view to strategic expansion starting next year under the bwin brand.
In an interview with SBC Notícias, Entain’s CEO, Shay Segev, detailed the long-term plans, above all, to expand the operator’s global reach. “We are looking for ways to expand our business beyond the United States, although this is probably our biggest market,” he said.
Entain CEO analyzes Latin American market
The company’s CEO revealed that Latin America is an area of great potential and that generates a lot of interest. “We applied for a license in Colombia about a year ago and obtained it a few weeks ago. Earlier this week we launched bwin in Colombia, because I believe it will be an important market for the company ”, he explained.
He added: “I think we can bring something exciting to the Colombian market: the possibility of betting with a regulated and safe operator, which offers great products, confidence and entertainment. This will be an interesting market for Entain ”.
Also according to Segev, “we are one of the few operators that control all the technology of their products, we are involved in all points that relate to our customers. This gives us the possibility to understand them and relate better to them ”.
One of Entain’s differentials in the sector is the Advanced Care and Responsibility program (ARC in English), supporting technologies aimed at safe gambling. He stressed that structuring this strategy does not preclude the priority focus on growing businesses around the world.
“For us, this does not represent any kind of conflict. The important thing is to create value for our shareholders and build an industry in the long run. This does not mean that we have to maximize each currency in the short term, it means that we have to maximize our potential in the long term ”, he explained.
Segev expects betting regulation by 2022 in Brazil
In relation to the Brazilian market, Segev stated that the company has already operated in the country under the Sportingbet brand, since its purchase in 2013. For him, the regulatory betting process must be completed by 2021 or 2022, in the later case. “We have collaborated with the local authorities, offering our knowledge and we hope this will help with the regulation,” he said.
In addition to the possibility of growth in Brazil, the CEO of Entain stressed that there are other attractive possibilities in Latin America and admitted the intention to invest in Mexico soon.
“Probably the best way to enter Mexico is through associations. We are studying potential partners who share our culture to ensure that, once we enter, we can offer the best experience and create a safe environment for our customers ”, he projected.
Shay Segev also reinforced that “Latin America is a stimulating market and I can see Entain as a leader in that region”.
Check out the full interview in the video below: