Discussion with Kendoo's Kate Romanenko on iGaming Topics
In the fast-paced world of iGaming, strategic partnerships have become essential for growth and success. By sharing knowledge, seizing opportunities, and evaluating risks from various perspectives, organizations can enhance teamwork and harness the talent within their ranks.
Collaborating with trusted partners who possess prior experience in these territories can help navigate unfamiliar landscapes with greater confidence. For instance, Zynga's collaboration with Mattel’s Rollic has enabled the expansion of market reach and the launch of new games.
However, larger operators, with their intricate, established processes, may find themselves less adaptable to change or rapid experimentation. This is where strategic partnerships can make a real difference, as they facilitate the adoption and integration of advanced technologies like augmented reality (AR), virtual reality (VR), and artificial intelligence (AI). Partnerships with Google for AR experiences and with AI firms for player analytics have become crucial for growth and competitiveness.
In the tightly regulated iGaming industry, regulatory compliance is paramount. Collaboration with specialized testing labs and certification bodies, such as Gamzix partnering with RiskCherry, helps companies ensure fairness and build consumer trust.
Optimized financial and payment processing infrastructure is another critical factor. Selecting banking and payment partners that offer global transaction support, fast processing, security, and seamless platform integration ensures smooth, secure, multi-currency payment experiences for players across regions, thus maintaining user retention and satisfaction.
Strategic partnerships also enable enhanced player engagement and service models. Continuous content updates, community engagement, and personalized services keep players engaged, as demonstrated by Zynga’s live service models coupled with community feedback loops.
Data-driven decision making is another key benefit. Integration of AI-driven analytics platforms through partnerships allows operators to leverage real-time player data, revenue forecasting, and game performance insights, supporting smarter operational and strategic decisions.
Established operators typically seek to expand into new markets, and leveraging existing partnerships can significantly mitigate the inherent risks associated with market entry. Kate Romanenko, Head of Commercial at Kendoo, emphasizes the importance of combining soft and hard skills in building partnerships.
Partnerships help brands unlock added value by focusing on vertical growth and improving the quality of partnerships. Efficient resource allocation and customized approaches for each client are challenging but crucial for effective partnerships.
In conclusion, the increased importance of strategic partnerships in the iGaming industry is driven by several factors, including the need for technological integration, market expansion, regulatory compliance, improved customer experience, and operational efficiency. Together, these factors reflect that strategic partnerships in iGaming are crucial to navigate complex markets, technological demands, regulatory landscapes, and customer expectations, thereby sustaining growth and competitive advantage. Investing in people and fostering a company culture that revolves around client relationships, business growth, and strong connections, both internally and externally, is recommended for a strategic approach to collaboration in iGaming.
- Strategic partnerships with technology companies, such as Google and AI firms, are important for operators to adopt and integrate advanced technologies like augmented reality (AR), virtual reality (VR), and artificial intelligence (AI), facilitating growth and competitiveness in the iGaming industry.
- Collaborating with specialized testing labs and certification bodies, like RiskCherry, is crucial for iGaming companies to ensure fairness, build consumer trust, and maintain regulatory compliance in the tightly regulated iGaming industry.
