Often considered the point of reference for Latin American iGaming, the Mexican market today represents an important element of the strategies of many gaming companies.
The Mexican market is expected to reach $2,72 billion this year and is experiencing an annual growth rate (CAGR 2024-2029) of 7,47%, meaning the leading Hispanic-American nation could potentially reach a market volume of $3,90 billion by 2029.
There is no shortage of expansion opportunities in Mexico. But what does it take to achieve real and lasting success in this one of the fastest growing markets in the world?
Curtis roach, responsible for the contents of the specialized magazine IGamingFuture, met Michele Stefanelli, Sales Lead Southern Europe & LatAm at Play'n GO to find out his point of view.
One of Latin America's key growth markets is Mexico, which offers international operators great opportunities for expansion. What role does this jurisdiction play in Play'n Go's LatAm growth strategy? What do you think will be the main drivers going forward?
“Play'n GO first entered Mexico way back in 2018, long before most of the online gaming industry was interested in Latin America. It has since remained one of our most important markets in the region, while providing access to other nearby jurisdictions.
“We are very optimistic about his future. Of course, the country is one of the strongest economies in Latin America, with high mobile penetration. Companies like Apple are betting big on Mexico – the company has opened numerous development labs here – and this tells us a lot about the desire and opportunities for real innovation.
“The reform of Mexico's federal gaming and sweepstakes law also points towards a bright future for iGaming. We are working closely with the trade association AIEJA with a strong focus on contributing to the growth and sustainable development of the sector, for the benefit of all.
“From our perspective, the priority remains the same: to continue to offer world-class entertainment, build deep and meaningful relationships with our partner operators and ensure that online casino fans in Mexico enjoy a great experience, from the start in the end, every time they enjoy playing.”
How have you adapted your content and game mechanics to better engage Latin American audiences, many of whom will still be new to online gaming? How do they compare to the more mature markets you have experienced across Europe?
“We are active in more than 25 regulated markets around the world; therefore, adapting our offering to new audiences has been a central pillar of our success over the years. When it comes to Latin America specifically, our first big advantage is that we have been present in the region longer than most competitors; therefore, we have gained an in-depth understanding of what players want and continue to expand and refine.
“In terms of introducing novice players to online slots, one game I would like to mention is Gerard's Gambit, which we launched last year. It features a pioneering approach, blending comprehensive gameplay with an educational element that is particularly inviting to those new or unfamiliar with slots, offering an accessible entry point for beginners.
“Another recent title, Garagantoonz, has performed equally well in markets where the slots sector is perhaps not as mature as in much of Europe. The gameplay is intuitive, the theme is recognizable, and ultimately, it's just a lot of fun to play.
“I think it's important to remember that we're now seeing some vendors enter less mature markets and use that as an opportunity to promote games and mechanics that we don't believe are safe (or sustainable).
“Our recent survey in Sweden found that 55% of slots players believe bonus purchases should be banned. As a matter of principle we do not include Buy Bonuses in our titles. We believe this vision is, or will eventually be, adopted in other markets; including Latin America. The mechanic is predatory, does not offer a truly fun experience for the player, and is already banned in several countries, such as the United Kingdom and the Netherlands. For us, providing players with sustainable, entertainment-focused games, including in emerging markets, is a top priority.”
Last year, electronic slot machines were banned across Mexico. What impact do you think this will have on the online slots market in the future? How can the online industry best adapt to take advantage of these changing market conditions?
“It certainly opens a window of opportunity for the iGaming sector; but we absolutely have to approach it in the right way. And that means putting sustainability at the center of our agenda. There are, of course, fundamental differences between traditional and online gaming, and we have been committed to promoting responsible gaming for many years.
“We have already mentioned Bonus Buy games and how to make the right choice.
“But beyond that, it's about ensuring that players who log in to play online slots receive a truly enjoyable experience, regardless of whether they win or lose. We need to step up our game and deliver value to these players so that iGaming becomes part of their monthly entertainment budget, the same way a Netflix or Xbox Live subscription might be.”
Play'n GO will participate in the Mexican Gaming Show (IAJA) later this year. Why is it so important for the brand to be represented at this and other similar fairs? What do you hope to gain from participating?
“The Mexican Gaming Show (IAJA) is a very important conference for Play'n GO as it provides an ideal platform not only to showcase what we have been working on, but also to meet old and new partners.
“Being at the IAJA allows us to come into direct and personal contact with an increasingly relevant market and draw on knowledge of the latest trends and player preferences that can make a difference. The direct feedback we receive from our partner operators is instrumental in evaluating our strategies and rethinking the way we approach product development.
“Play'n GO is already a well-known face in Mexico, but this is not something to be taken for granted. We look forward to participating and once again demonstrating our commitment not only to Mexico, but to Latin America as a whole.”
