The gaming industry is in the midst of a transformation, driven by technological advances and a rapidly changing market. In this climate, industry leaders must deftly navigate a complex landscape filled with emerging opportunities and unforeseen challenges. Radostina Valcheva, CEO of EGT and Amusnet Georgia, is at the forefront of this dynamic setting, guiding her companies through these complexities. In this interview, she shares her vision for the companies, the significance of the SBC Summit, the value of collaboration with SMH Global, and how to balance responsible gaming practices with profitability.
What strategic objectives or opportunities do EGT and Amusnet Georgia hope to achieve through participating in the SBC Summit Tbilisi?
SBC Summit Tbilisi is the biggest event of its kind in the region, and as market leaders like us, EGT and Amusnet (AIG) shall be represented here. Besides, we have a longstanding partnership with SMH, and we believe they have proven their ability to bring together C-suite executives for important discussions and the exchange of ideas.
Furthermore, both companies are participating to showcase their expertise and offerings in the gaming industry. Our strategic objectives include strengthening brand visibility and trust in the gaming sector, establishing contacts with industry professionals, potential clients, and stakeholders, exploring partnership opportunities, and strengthening business relationships.
What significance does the SBC Summit hold for our region, particularly in terms of fostering innovation in the iGaming and sports betting industries?
The SBC Summit plays a crucial role in driving growth and innovation within our region’s iGaming and sports betting sectors. By convening top executives in one location, the summit becomes a hub for idea generation, innovation, and the emergence of new trends.
The event brings together participants from both highly developed and less developed markets, facilitating valuable exchanges on topics such as regulatory frameworks, responsible gambling, and market-specific adaptation strategies. This environment often sparks new collaborations and opportunities to tailor products to the unique needs of specific markets.
Could you elaborate on the collaboration between EGT, AIG, and SMH Global What role does this partnership play in supporting the goals of these companies?
SMH Global is a crucial partner for us in the region, having successfully built an ecosystem that we have been able to leverage effectively. Their extensive network of relationships and expertise, both domestically and internationally, has enabled us to benefit from consultations on various regulatory compliance topics and access to new opportunities, among other advantages.
As the CEO of EGT and AIG, what is your vision for the companies’ future growth and success, and how do you plan to realize this vision?
My vision for our future growth and success revolves around establishing and nurturing strong partnerships with our customers based on trust and mutual benefit. Our aim is to position ourselves as a key player not only in the Georgian market but across the entire region. Alongside sustainable growth, we are committed to continuous innovation to keep our products competitive and aligned with evolving customer needs.
To realize this vision, we are focused on several key strategies. First, we will enhance the quality of our products and services, prioritizing customer training and support. Second, we will introduce innovative gaming solutions that reflect market trends and customer expectations. Lastly, we are investing in the professional development of our team members to elevate our level of service and technical support.
Our success metrics extend beyond financial indicators. we seek to gauge customer satisfaction, our level of innovation, and our adaptability to changing market dynamics. With our strategic vision, dedicated team of professionals, and strong values, I am confident that we will achieve outstanding results and establish both companies as leaders in the gaming industry.
How do you integrate your educational background from the National Sports Academy into EGT’s products and services?
My education has profoundly shaped my approach to the gaming industry, teaching me to value each individual’s unique personality and diverse needs. In our companies, we prioritize inclusivity and accessibility by developing gaming products and services that cater to a wide range of customers. By implementing these principles, we aim to build a more sustainable and socially responsible gambling business that respects and serves the interests of all members of our community.
What’s your perspective on competition in the industry?
We approach competition with a collaborative mindset, treating our competitors as colleagues in the expansive entertainment and gaming sector. From the outset, we recognize that we all contribute to shaping the industry and strive to demonstrate that our sector is a vital part of a larger ecosystem focused on entertainment and responsible gaming.
Our primary message revolves around promoting safe and fair play, and we believe that by working together with our competitors, we can amplify these important values. By fostering a spirit of cooperation rather than cutthroat competition, we aim to elevate the standards of our industry and enhance the overall experience for players and participants alike.
In this dynamic environment, we view competition as an opportunity to innovate, learn from each other, and collectively advance our industry. By embracing this collaborative approach, we can drive positive change and ensure that gaming remains enjoyable, responsible, and accessible to all.
From the beginning, we treat our competitors more like colleagues, because, in many ways, we all work together toward the same goal. We want to show that our industry is part of a huge entertainment and gaming sector, with key messages centered on promoting safe and fair play.
How do you approach the challenge of balancing responsible gambling practices with the profitability goals? Additionally, what measures do EGT and AIG take to promote responsible gaming among customers?
Balancing responsible gambling practices with profitability goals is a crucial challenge in the gaming industry. At EGT and AIG, we prioritize responsible gambling as a cornerstone of our operations to ensure sustainable growth and development. Our approach involves designing gaming products that offer a positive and healthy experience for users, emphasizing fun and entertainment while mitigating the risks of addiction and prioritizing player well-being.
To promote responsible gaming, both EGT and AIG implement various measures. This includes investing in education and awareness programs to inform customers about responsible gambling practices. Additionally, we collaborate with industry peers and regulatory authorities to develop and enforce effective policies that ensure a safe and enjoyable gaming environment for all our players.
What do you see as the biggest challenges facing the gambling and casino industry in Georgia?
One of the primary challenges confronting the gambling and casino sector in Georgia, akin to many other markets, is the escalating burden of taxes, fees, and regulatory requirements. While acknowledging the necessity of taxes and regulation within the industry, it is imperative that these measures are balanced and aligned with the economic outcomes of the sector. The rising taxes and fees in Georgia pose a threat of business closures and impede the sector’s potential for growth, which is especially concerning given gambling’s pivotal role in supporting the country’s tourism industry and broader economic development.
To address these challenges effectively, it is crucial for the government to view the gambling sector as a strategic partner and collaborate with industry stakeholders to develop equitable and growth-oriented solutions. We recognize the importance of tax contributions but emphasize the need for taxes to be proportionate and conducive to industry development rather than hindering it.
Continued dialogue with government officials and key stakeholders is essential to identify and implement balanced solutions that foster the sustainable growth of the gambling sector in Georgia, contributing positively to overall economic development and the tourism industry.
The more restrictions and regulations there are, the more the shadow sector develops, which does not lead to positive results. Therefore, it is important that the existing rules ensure fair and responsible play for everyone.
Could you share some insights into the emerging trends and opportunities you see in the iGaming sector?
In response to technological innovation and changing consumer behavior, the iGaming sector is constantly evolving. The growing use of mobile devices among Internet users has led to a surge in mobile gambling. Online casinos and betting companies are increasingly adopting mobile apps to provide players with convenience and accessibility from anywhere, at any time.
Cryptocurrencies and electronic payment options offer players secure and convenient ways to deposit and withdraw funds, which can lead to faster transactions and reduced fees. These trends create new opportunities for online gambling operators to innovate and develop, while also maintaining high standards of safety and responsibility. S
