Greentube: "2023 is the fifth year in a row that we've followed an impressive upward trajectory"

As the year 2023 draws to an end, Yogonet spoke with Michael Bauer, CFO/CGO at Greentube, to take stock of a year full of challenges. The executive shared insights into the company's milestones as well as its experiences throughout 2023. 

Furthermore, Bauer shared his point of view on the new technologies that have developed in 2023, as well as the trends that are sure to cause a boom in 2024, particularly the use of AI. The executive sustained that "AI is an important trend" that will "continue for a long time to come."

What is your assessment of the year? What are your main takeaways and highlights from 2023? 

I'm pleased to report that it has been another record year for Greentube. We've experienced substantial growth from both a revenue and new customer perspective.

This is also the fifth year in a row we've followed an impressive upward trajectory when it comes to results. This is in part thanks to our success in markets such as the United States, Italy, and Germany.

What can you tell us about the upcoming year? Are there any new plans or announcements you could share with us?

Looking ahead to next year, we will continue to put extensive effort into increasing our presence in the States, with the end goal of going live in Pennsylvania and Connecticut. We'll also enter the South African market in the new year, which is incredibly exciting!

Do you think new technologies such as AI will play a key role in the development of products and services in the gaming industry in the next year?

AI is already playing a key role in the development of products and services within the iGaming industry. One area that we are seeing is used extensively in graphic design, mainly for content ideation and creating banner graphics. Elsewhere, we’re seeing operators send real-time messaging to players thanks to AI. It’s an important trend and I think it’ll continue for a long time to come.

Greentube's stand at G2E this year

Where do you see the online gaming industry headed? Any particular trends, such as gamification, that you are watching closely?

I think we'll see even more compliance restrictions, and a tougher environment for all of the operators, which in turn will lead to the further growth of the black market. It’s an unfortunate trend that started a few years ago, but with all of the restrictions enforced by regulators, I can't see it changing.

Gamification is something that's often sacrificed for compliance, so if operators need to build regulatory features into their platforms, they won’t have time for gamification.

What markets and verticals surprised you the most in how they developed this year? Which markets do you expect to gain momentum next year?

I’m most surprised by South Africa, it’s already quite a substantial market that’s piqued our interest here at Greentube. Brazil and France are also two to keep an eye on as soon as regulation is in place.

We are hopeful that France will soon regulate its online casino market and Brazil is hopefully already happening in 2024. In terms of verticals, I’ve been surprised by the emergence of crash games, which have grown particularly quickly in black markets.