The iGaming industry is on a roll as COVID-19 provides tailwinds
They said that investors should be aware of legislation. “I know over the past year a lot of other states have accelerated regulation as a result of COVID, but the two that matter most from a population standpoint really are Michigan and Illinois.”
In terms of the competition, “DraftKings is doing very well because they own everything. They have their own iGaming engine, they have their own platform, they have their own sports betting engine, so they don’t have to license things out to launch and to be able to open up in a state.” Meanwhile, FanDuel will eventually be a direct competitor: “Right now, I think FanDuel cares more about sports, but as iGaming grows, I think they’ll be more interested in it.”
They also envisaged more international players being drawn to the US as more states regulate, as previously there was a more fragmented legislative and regulatory landscape making entry complicated. In addition, “over the past year or two, as COVID accelerated internet gaming growth, I think it has caught the interest of some of the international players.”
Looking at Gan’s customer retention prospects, the former C-level executive highlighted the fact that the company sometimes “bite off more than they can chew”. This leads to situations where “their attention gets so distributed that customer service, quality of support in some areas maybe fall between the cracks.” However, as a strong point, Gan is smaller than some of the competition, so it’s nimble and can offer quick-to-market solutions.
To access all the human insights from Third Bridge Forum’s Gan – North America B2B SaaS iGaming positioning & Coolbet acquisition outlook Interview, click here to view the full transcript.
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