Valentin-Adrian Georgescu, CEO of NOVOMATIC Romania: “Optimistic prognosis in 3 steps: national expansion, supporting partners and improving sports betting services”
The sports betting market in Romania has grown year by year and enjoys more and more players, and the prospects for development through partnerships and improvement of the services offered are viewed with optimism by the most important representatives of the industry. Valentin-Adrian Georgescu, CEO NOVOMATIC Romania, gave us an exclusive interview about betting industry trends, factors that play a substantial role in the market and how we can cope with the competitive landscape.
Valentin-Adrian Georgescu
How do you assess now, in 2023, the recovery of the sports betting industry after the pandemic decline?
The last few years have definitely changed the consumer behaviour of players, but the effect has been felt across all industries. Adaptation is the key to success, and here the gaming industry has always excelled. According to industry representatives, the strongest betting markets are estimated to be in Europe (48.6% of the global online mobile sports betting market) and Asia Pacific. At the moment, the increase in the number of sporting events is another factor driving the sports betting market, as it gives customers the chance to diversify their bets. Therefore, although paradigms have changed, the recovery has brought new opportunities for growth, especially in the online sports betting area.
What development opportunities have you identified and what is your vision to develop the brands within the NOVOMATIC Romania Group in 2023?
As the global sports betting market has rebounded spectacularly and is expected to exceed $140 billion by 2028 (up from $131 billion today), we are also set to launch new partner-friendly programmes and facilities this year, tailored to the latest player trends. As far as the NOVOMATIC Romania Group brands are concerned, the prognosis for 2023 is optimistic: we are committed to expanding the land base through profitable partnerships, with tailor-made packages for several categories of potential partners, but we are also ready with new prospects for online sports betting.
Sports betting has developed as fast as technology has developed. So, what else do you think players can be surprised with?
By creating a complete entertainment experience. The avatar of the customer of the future will be the one created from the traditional customer who prefers the human contact and suspense of the bookmaker and the customer who loves innovation and has turned to convenience with devices. In this respect, we have a great strength – an advantage that differentiates us in the market: we have the opportunity to offer our customers and partners all the products and services in the field in one package, to benefit from the synergy between them and to create unique advantages that are sure to surprise the players. Indeed, the implementation of AI and blockchain in sports betting apps is a trend that is gaining popularity in the sports betting services market, but it will take time to reach maturity. Until then, I think the focus will be on improving the service packages offered.
You mentioned that one of this year’s objectives is to expand sports betting agencies through partnerships. In such a competitive market, where did you see growth potential?
I think it is worth mentioning that sports betting accounts for almost 40% of the global gambling market. So, the global betting industry is extremely powerful. Currently, it is estimated that almost 200,000 people are employed in over 30,000 businesses. Nationally, our sports betting partnership offerings have already brought us outstanding results in recent years, and we currently have over 350 locations. Therefore, against the backdrop of this huge global potential, our aim is to focus on the services and products we offer. I see the potential for growth in quality, stability, customer orientation, education towards responsible gaming and favourable conditions for the development of our partners’ businesses in an increasingly uncertain economy.
Valentin-Adrian Georgescu
What does the new sports betting offer bring to partners?
In 2023 we are continuing to expand partnerships on the same favourable terms and I am delighted that we can offer even more varied products in this flexible package: NOVOMATIC and EGT SLOT MACHINES, SPORTS GAMES terminals and complete LOTTERY PRODUCTS, depending on the type of business chosen by the partner. I believe NOVOMATIC Romania has the potential to take the franchise market to the next level, culminating in new surprises in the online sports betting market.
