As the Indian poker market continues to enjoy consistent growth, its expansion is emulating that of the US’ famous poker boom in the early 2000s.
What is it?
Interactive Games Technologies joins The Deep Dive to discuss why the company opted to enter the Indian market and why the firm is now enjoying rapid growth as a result of the move.
Who is it?
Cassandra Leah, Host of The Daily Dive
Chris Neville, CEO of Interactive Games Technologies (CSE: BETS)
What is being said?
Explaining why the firm set its sights on India in particular, Neville reasoned: “When we were launching as a group, we got together in Montreal six months prior to going public and raising funds. We were identifying key markets where we could really make a difference to the company financially, not just raise money and try to do a land grab like a lot of them are doing in the US, overspending on cost per acquisitions for online gambling and basically, become profitable in a market in a very short period of time, and scale up by doing acquisitions.
“When we studied the landscape, and the Latin American/Indian landscape, it’s like looking in a mirror at 2003 to 2005 to the US market when we had the poker boom and Chris Moneymaker. It’s an incredible market and the fastest growing gaming market worldwide right now.”
He continued: “In order to operate in India, you have to have an India partner. Even PokerStars, for example, operate in India and they have an India company that has some equity. In the last six months since we bought our poker company, we’re the third fastest growing poker company in India and we’re averaging approximately 1,000 new players a day. In some days, it goes up to 1,500.”
Why should I watch it?
To learn more about the Indian gaming market and why many US operators are beginning to target the region.
Where can I see more?
Source: The Deep Dive YouTube Channel