GMB - What assessment do you make of your company's performance and growth in 2023 overall? Did it meet expectations or exceed them?
Andraes Bardun - As we entered 2023, we made the calculated move to concentrate our efforts on the Brazilian market—a decision that has proven to be immensely rewarding. The scale and diversity of Brazil pose a unique challenge that is often underestimated by those looking in from the outside. At our company, we often remark that "Brazil isn't just a country; it's a continent".
Our experience this year has been just the beginning, revealing the immense potential we have yet to tap into. This focused approach has led to a period of growth that is unparalleled in my 23-year career, underscoring the success of our strategy in Brazil.
What assessment do you make of your company's performance and growth within the Brazilian market in 2023?
As we entered 2023, we set ambitious goals, understanding the effort required to meet them would be substantial. It's with a sense of collective pride that I share our progress has not only met but exceeded those expectations. This remarkable achievement reflects the vibrant growth within the Brazilian market, coupled with the dedication and expertise of our team members. Together, we've reached a level of growth that's truly extraordinary.
Could you list the main achievements or goals accomplished?
In 2023, we've seen significant financial gains and welcomed a remarkable number of new customers. However, the real success lies in our approach: we've engaged in advertising that upholds the highest standards of responsibility and ethics. Our commitment to leading the Sportsbook industry in Brazil goes beyond just market share; it encompasses setting an example for how to operate and market a brand effectively and responsibly, and we believe we've set a new benchmark in this regard.
Furthermore, achieving GLI certification for our platform is a milestone that fills us with pride. It’s a testament to our dedication to in-house technological innovation and stringent compliance practices. Over the past year, we've focused intently on aligning our platform with Brazilian regulations, ensuring we're not just prepared but are setting the standard for compliance in the industry.
In your sector within the industry, what trends or technological advances do you believe will dominate the market in 2024?
Artificial Intelligence has rightfully garnered widespread attention, and it's a development we're watching with great interest. Our hope is to leverage AI's potential to enhance our responsible gaming initiatives and fortify the integrity of our operations. Through advanced detection capabilities, we're looking forward to AI's role in identifying and mitigating issues such as problem gambling, fraudulent activities, and the misuse of promotional offerings.
What is your general opinion on the regulation of the sports betting and online gaming market that is on the verge of approval in Congress?
At KTO, we're all excited about the new regulations in Brazil—it's the talk of the company. While the fiscal aspects of licensing and taxation are undeniably important to the government, our focus remains steadfast on the safeguarding of consumers. By advocating for a robust regulatory environment, we aim to protect vulnerable populations, including minors and individuals with gambling challenges, from exposure to online gambling.
Moreover, we are committed to curbing the spread of unethical marketing practices within the sector in Brazil. The urgency for comprehensive regulation covering both Sportsbook and Casino operations is clear, and we are hopeful that, in the near future, we will be operating under a duly sanctioned license.
What are the main goals/objectives of your company for 2024 within the Brazilian market? And on a global scale?
In 2024, our strategic spotlight is on Brazil. It's a pivotal market for us, and we're entering the year with ambitious targets. Our vision is clear: we aim to become the top Sportsbook brand in the region. Achieving this starts with securing the license and, once in hand, we’ll be investing significantly in establishing a formidable presence in Brazil. At KTO, we're driven by our people-first philosophy.
We're not just planning to build the premier iGaming operation in Brazil; we're also committed to making KTO the employer of choice in the industry, where the best talent aspires to be.
Source: Exclusive GMB
