Cristina Romero: "Regulatory modernization will be crucial to unlock the industry's growth potential"

Lawyer Cristina Romero, partner of LOYRA law firm and specialized in regulatory frameworks in gaming matters, highlighted 2024 as a year of "online gaming growth". However, she warned about "the eternal regulatory challenges" that especially affect the Latin American region.

In an interview with Yogonet, the Spanish lawyer affirmed that "regulatory modernization will be crucial to unlock the growth potential" in this context, with the aim of "guaranteeing a balanced development" of the global gaming industry.

On this basis, he urged the sector to strive to "raise its profile" in order to "validate its social license" and position itself as a regulated economic activity with relevant players.

What is your assessment of the gaming sector in 2024, both in Spain and in Latin America and Europe?

I think we have had a rather "mixed" year in the gaming and betting industry at a global level. I think I would highlight, above all, the growth of online gaming and a trend towards the personalization of the offer and increasingly creative marketing techniques to reach the player through very interesting strategies.

We continue with the eternal regulatory challenges, especially in Latin America with outdated and growth-limiting regulations that affect market transparency and industry competitiveness. Hopefully, governments are finally convinced of the opportunity of "regulating well".

Overall, I believe that 2024 has been a year of transition, with a major milestone in Brazil, facing pressures to comply with stricter regulations or to influence their update. Regulatory modernization will be crucial to unlock growth potential and ensure a balanced development for our industry.

Which industry event do you consider the most relevant of the year? Why?

Hard to say! I personally have attended ICE, SBC Miami Next Io NYC, and Cancun. All of them were super interesting to learn and connect with clients and friends. I am looking forward to the first edition of ICE in my country.

What challenges do you identify for the gaming sector towards 2025?

I would highlight several. As always - sorry to repeat myself, but I do! - the regulatory challenge (burden on licensed operators, advertising restrictions, tax pressure, and AML compliance), technology and protection against cyber-attacks (particularly with the increasing intensity of the use of AI and blockchain-based platforms), and the great need for the industry to maintain a reputation and profile of social responsibility and sustainability.

We have an uncertain economic environment, new competitors in the market, emerging technologies, and general pressure in the markets, which make the landscape itself very challenging and make attention to player experience and preferences even more critical. For this industry and many others.

2024 was a relevant year in Latin America, with the approval of new regulatory frameworks. What are your expectations for this region?

That it will continue to grow a lot. With attention to what continues to happen in Brazil, Chile, and Ecuador, especially. And, as I always say, Mexico is a great opportunity, and also Colombia as the market matures and consolidates. I think we will see more and more international operators, especially from the United States, launching in the region.

What message do you have for the industry as the year comes to an end?

It should make an effort to raise its profile, validate its social license, and "let itself be seen" for what it is: a highly regulated economic activity with great companies and professionals. They should seek and elaborate real data on what is happening in terms of illegal markets, the real impact of pathological gambling, and how the industry should operate to avoid the fraud and stigma it has been suffering.