Irish betting group BoyleSports has completed the acquisition of Timberazo. What does this mean to you? How is the working methodology going to change?
This acquisition represents not only the possibility of consolidating as a leading player in the market, allowing us to compete on equal terms with Te Apuesto, Betsson/Inkabet and Apuesta Total, but also provides the chance for future expansion at a regional level, once we have firmly established our position in the Peruvian territory. Undoubtedly, the acquisition by BoyleSports will generate a substantial change in our way of working in several aspects. First, we are faced with the task of adapting to the dynamics of a multicultural and global team like BoyleSports. On the other hand, we will seek to incorporate into the Peruvian context superior practices that have been effective in Europe, since they have a considerable time advantage, although we must also understand the particularities of the Peruvian and Latin American idiosyncrasies. Finally, this operation allows us to take advantage of first-rate technological tools, thus stimulating growth, both in the Peruvian landscape and in the region as a whole. We are excited about the potential of these enhancements and the development they will bring to our organization.
Beyond that, what’s your analysis on this year’s performance for Timberazo?
The progress experienced during the course of 2023 is in line with our expectations, despite the political and economic challenges that have impacted Peru. We remain confident that this evolution will continue showing attractive rates throughout the rest of the year.
In an article we made with Carlos Bustamante, CMO of your company, he had pointed out that what differentiated Timberazo from the competition was communication with customers. Do you think this is still the case? What characteristics make your firm a good option for bettors?
In a market as competitive as online sports betting, companies must differentiate themselves from their competitors in some way. In our case, we have two strengths: communication and customer service. We try to give a personalized user experience. If a player is looking for a highly individualized service, both in terms of attention and communication, Timberazo is an extremely suitable option. These elements will continue to be the cornerstones of our future strategy. In the current context, the odds have evolved into a kind of standard product that depends to a large extent on the dynamics of supply and demand, as well as the risk management by each company in the betting market in which it decides to dabble. When it comes to technology, at the moment, we recognize that we cannot compete in the same league as internationally renowned players like Betsson. However, this scene will gradually be transformed thanks to the acquisition by BoyleSports. This collaboration anticipates a horizon in which we will be better positioned to raise our technological level and offer an experience that is on a par with world-class players. We are excited about this evolution and the opportunities it will bring.
How do you see the growth of Esports in Latin America and how is your company positioned in the offer of this segment in the region?
Esports represents a highly intriguing betting category that is constantly evolving globally, albeit still on a modest scale in terms of revenue compared to leading traditional sports such as soccer, basketball, and tennis. However, it is undeniable that this segment will continue to expand and, eventually, it will be able to compete on equal terms with some of the great conventional sports disciplines. One trend that deserves special attention is that the rise of Esports will not only be based on consoles or computers, but also it will be driven by mobile games. In this way, while this category continues to develop and receives more momentum at a competitive level, there is considerable potential to accelerate the growth and reach of Esports’ betting. Now, within the Latin American context, a relevant opportunity arises because the Esports market is still relatively small compared to Europe and Asia. This is due, in part, to the lack of support and, therefore, to the low global competitiveness of the Latin American teams. Companies that aspire to stand out in this sector must commit to long-term investment, as it will take time and effort for Latin America to reach a comparable competitive level. Ultimately, we are confident in the potential of Esports and are determined to seek a prominent position in this market for the long term. However, as with any investment, it will be a gradual process, which will evolve as we obtain tangible results and benefits from these initiatives.
What do you think of important meetings such as G&M Events Peru, which brought together prominent industry executives?
From our perspective, the assessment of activities such as G&M Events Peru is extremely positive. These meetings not only provide a platform to network and discuss the latest developments in the market, but also play a crucial role in helping gather information about potential players who could enter the sector. The opportunity to interact with peers, competitors, and new entrants facilitates the exchange of ideas and insights, while helping you stay abreast of emerging trends, innovative strategies, and opportunities for collaboration. In this sense, spaces like G&M Events Peru bring an enriching outlook that nourishes our vision and helps us make informed decisions in a constantly evolving business environment.
What objectives will you try to achieve in the second part of the year?
In the second half of this year, our focus will be on adapting to a new way of collaborating in all aspects, such as technology and processes, together with BoyleSports. This adjustment process will help us efficiently align our operations, laying the foundation for a cohesive approach in 2024. Despite these changes, our commitment to growth will not be diminished, as we will continue to work in parallel to ensure that our development keeps on moving forward in a solid manner.