Arcangelo Lonoce serves as the Head of Business Development at Habanero. As the Italian igaming sector prepares for a new licensing framework slated for 2025, Lonoce shared insights on the current state of the market, strategies for suppliers to navigate regulatory changes, and tips for staying competitive in a turbulent environment.
Italy ranks as Habanero's second largest market globally. Lonoce noted that the company entered this market seven years ago, during which time it has seen considerable growth. To better align with local needs, Habanero has tailored its approach for the Italian market, including the appointment of a dedicated senior account manager.
Looking ahead to 2024, Lonoce anticipates steady growth, particularly as the shift from traditional retail gaming to online platforms continues. He emphasized the importance of understanding the local gaming culture, even as players increasingly prefer the dynamic experiences that igaming offers. Habanero blends traditional gaming elements with innovative mechanics to create products that resonate with Italian players, signaling a strong commitment to the region.
Lonoce sees substantial growth opportunities in Italy, driven by an insatiable demand for new games and a significant number of players moving to online gaming. He believes that the ability to offer a multi-channel experience connecting retail and online platforms will be key. With the upcoming licensing changes, Habanero is prepared to adapt swiftly to market dynamics, thanks in part to its established agility as a relatively young company.
Despite being one of Europe's most established gaming markets, Italy faces significant changes in regulations. Lonoce points out that the industry has shown resilience in adapting to these changes, notably the advertising ban which challenged traditional marketing strategies. Innovative promotional methods and strategic partnerships have allowed companies like Habanero to maintain visibility in a cluttered market.
Challenges persist, particularly the advertising ban and a lengthy regulatory approval process for new games, which complicates product launches. Intense competition from larger suppliers also adds pressure. However, Habanero's bespoke offerings and nimble approach set it apart from its competitors. Lonoce highlighted the continuing issue of the black market, exacerbated by regulatory constraints that licensed operators face, making it harder for them to compete fairly.
As the year progresses, Lonoce notes that while the past two years have seen consolidation, the market shows positive signs of growth. Habanero aims to establish bespoke partnerships with key market players to bolster its position. The company plans to evolve beyond simply providing games, focusing on comprehensive solutions to support partners in adapting to market changes. While Lonoce could not share specific upcoming projects, he assured that Habanero is dedicated to helping clients thrive in this dynamic environment, extending beyond basic game offerings.
