Despite Brazil dominating many Latin American focused conversations across recent times, the prospects offered by a wave of nearby nations has increasingly captured attention.
While the recent developments in the likes of Peru and Paraguay to the significant commercial possibilities presented by Mexico form just a snapshot of these, the opportunities are plentiful.
One such development studio that has been keeping a close eye on developments is Fazi, which has become increasingly buoyant about its own growth trajectory, notes CEO Bojan Mitic.
A gambling prophecy coming true?
After spending significant time being billed as the next big thing, numerous steps have now been taken as evidence that this long held prophecy will come to fruition.
More attention than ever before is quite rightly being steered towards LatAm, with the much heralded critical growth region having taken noteworthy moves to realise this potential. This, Mitic notes, has presented an array of incredibly interesting prospects.
“We’re looking at a region with a huge population, strong traditions when it comes to games of chance, and a wave of upcoming regulations that’s helping to define the landscape,” he says.
“As regulation advances, serious operators and providers are stepping up, which allows us to focus on the most important markets with confidence.”
However, despite talk of notable growth, monopolies falling and regulatory steps towards legalisation being made, the industry must keep on its toes to swiftly pivot should any alterations be introduced.
As evidenced across numerous geographies, legislative clampdowns have become commonplace amid an ever increasing industry spotlight. Could any LatAm nation become one of the next to witness a tightening of regulation?
“We anticipate strong development with room for major operators and providers to grow. There’s definitely space for serious, well-prepared companies,” Mitic continues.
“As the market matures, there may be some tightening or adjustments in the regulation, which is natural and even beneficial for building a healthy, sustainable environment.”
Product developments to lead growth
In similar fashion to a large swathe of development studios, Fazi places a focus on monitoring developments across various markets to strike in a timely manner should fresh possibilities present themselves.
Adopting a stance to look at potential new entries, Mitic addresses Fazi’s overall approach to scaling up operations to take advantage of opportunities.
“Our goal is to be present in regulated markets right from the start,” he states. “We closely monitor the content needs of each market and develop games tailored to the themes and mechanics that resonate locally.
“We also partner with well-established operators, which gives us a strong foundation for scaling up efficiently and taking full advantage of growth opportunities.”
The content creator currently enjoys its strongest presence within Brazil and Peru, with this pair of jurisdictions identified as boasting strong engagement as well as regulation that is advancing in a way that suits the group’s long-term strategy.
While Colombia and Mexico represent the next targets, Venezuela, the Bahamas, and Argentina are also on the radar due to demonstrating ”great potential” and “moving toward clearer regulatory frameworks”.
Furthermore, November 2024 saw Fazi secure certification for the much-talked-about Brazilian market following a long road to regulation being trodden.
As this was hailed as a pivotal step in expanding its presence across LatAm, Fazi’s CEO moves the conversation along by touching on his overall expectations for the country.
“Brazil is a massive market with a large number of licensed operators,” Mitic elaborates. “We expect the regulator to succeed in achieving high player channelisation.
“The competition is intense – among both operators and providers – but that’s part of the game. With strong games and effective promotional tools, we believe we can reach players and build a solid position.”
As competition intensifies amid the race for a podium place across numerous countries, strategies being deployed to achieve this ultimate rise to the top must truly reflect local tastes and preferences.
For Fazi, this plan of action centres around the three core concepts of team expansion, continued product development, and a growing market presence.
“We’re committed to increasing our share by strengthening both our portfolio and our partnerships,” Mitic concludes. “LatAm is a key part of our growth strategy, and we’re here to stay.”
