Interview with Valentin-Adrian Georgescu, CEO of NOVOMATIC Romania, setting objectives for 2023
How do you adapt the business you lead to the changes occurring in the gambling industry and to unforeseen circumstances that could affect this industry, given the current legislative context?
In an industry with constant legislative and economic changes, we focus on continuous market evaluation, identifying opportunities and risks. Since 2020 we have publicly disclosed our tactical strategy and have continued to adjust it despite the effects of the pandemic and economic instability, as well as frequent legislative changes.
Our finance and strategy team have been working hard to achieve accurate projections.
How do you evaluate progress in achieving objectives throughout the year and how will you make adjustments if necessary?
We closely monitor performance indicator reports and constantly monitor market trends. Additionally, we rely on feedback from employees and customers in order to ensure we are on the right track and remain at the top of industry preferences.
What are the objectives and plan for NOVOMATIC Romania operations this year?
The NOVOMATIC group aims to provide customers with the newest and most innovative game equipment and mixes launched this year at ICE 2023.
One of the strengths of the portfolio are the four types of packages with progressive link jackpots, its prices are tailored to different types of locations and players. These are attractive in every way and include innovative game selections with special features and doublings.
NOVOMATIC has also launched new versions of the Imperator Black Edition equipment, the most appreciated and awarded in the portfolio, now available in three versions: Black Edition II 3.27, Black Edition II XL, and Black Edition 1.49J. PRIMUS PRO is another versatile equipment available for operators who want to replace COOL Fire I equipment with a cost-effective solution at an unbeatable price.
All of this equipment can be tested by customers at our showroom in Otopeni.
Regarding sales strategy, we have developed a series of campaigns and programs, including the BUY-BACK program, designed to help operators renew their equipment portfolio at special prices. At the same time, it is also a sustainable recycling CSR project, because some components are being reused to develop new gaming equipment. The program has been expanded, due to its success, and is now available for rental operations as well.
We are currently working on the efficient allocation of new conversions on the market, with the sales and technical teams working intensively on this aspect. We have worked to provide the best financial conditions so that operators are not financially impacted. The price of a NOVOMATIC game equipment logistic tax for conversion is 100 euros + VAT, and in this cost, they can also upgrade their game mix, an advantage for operators.
What resources or support have you allocated to ensure your objectives?
Currently, we are focused on optimizing the processes of omnichannel adaptation and integration, in order to provide customers with easily accessible solutions and services, and to increase their satisfaction and loyalty. Another important aspect is the development of our team. We invest in the training and evolution of our internal employees and are proud to have a staff that has stayed with us for over 15 years, thanks to a good employee retention policy.
What do you think is the most important aspect of strategic planning for long-term success?
A key factor in our successful strategies is customer feedback, which we consider a valuable resource. I highlight and share it with my colleagues to ensure that we consider it in our process of developing our programs and services. In this way, we adapt to the needs of our customers and ensure that we provide them with solutions that meet their needs.
What was the biggest challenge in setting goals for the next year and how did you overcome it?
Due to legislative uncertainty, we have become more cautious and creative in offering flexible solutions to meet customer needs. Despite the uncertainty, we consider this situation as a challenge that helps us develop the ability to be resilient, creative, and perseverant in the face of the unknown, as well as to make decisions in a short term and adapt to new conditions.
Considering the current situation both from a legislative and economic point of view, do you think there are also opportunities?
Regarding opportunities, it has been estimated that the strongest betting markets are in Europe (48.6% of the global market for mobile online sports betting) and the Asia Pacific. In this context, we are expanding partnerships on the same advantageous terms, and I am excited that we can offer, in this flexible package, even more varied products: from game equipment manufacturers, sports betting terminals, and complete lottery products, depending on the type of business chosen by the partner.
I believe that NOVOMATIC Romania has the potential to take the franchise market to the next level, culminating in new surprises in the online sports betting market.
