Better Collective CEO backs Europe and US blueprint for Latam success
Jesper Søgaard points to “Growth Formula” to drive the business as Brazilian sports betting regulation looms
Better Collective CEO Jesper Søgaard has claimed the “BC Growth Formula” will allow the company to replicate its US and European success in Latam.
Speaking on an analyst call following the company’s Q2 results, the CEO further lifted the lid on the strategy detailed in the report.
The affiliate giant is making a concerted push in the region, having named Simon Hovmand-Stilling as Latam CEO and embarking on a recruitment drive across South America.
Writing in the Q2 report, Søgaard said: “We plan to leverage our ‘BC Growth Formula’ throughout the region. We have spent more than a decade developing and implementing this formula in Europe and executed it successfully in North America.”
When asked to expand on the strategy during the call, the Dane said it was a case of “simply following the model” of past success to drive future gains.
Søgaard explained: “It originates from our legacy in Europe where we’ve operated for close to two decades. It’s simply expertise that has been built up in the organisation which we utilised when we first went to the US.
“[This is] by finding strong brands which we can grow and at the same time monetise. We do believe we are very good at that.
“That model is now being applied in South America. It is simply following the model that has now proved itself for many years and already we are seeing good traction in South America.”
When pushed on what other markets – bar Brazil – in Latam could play a key role, Søgaard said comparisons were difficult to make given the region’s size and total addressable market.
The Stockholm-listed firm has also opened a new headquarters in Rio de Janeiro, with plans to secure another hub in São Paulo progressing.
The CEO continued: “I think if we are comparing [other markets] with Brazil, it is at a different scale. In terms of GDP and size, Brazil is almost half of South America so nothing is directly comparable to Brazil.
“But there are definitely markets that are significant and worth pursuing. Our perspective is that we are going to go for all of South America where the regulation is available and will be available.”