Carousel Group actively pursuing US media deals to grow market share
Madrid-headquartered operator also hiring for product development roles in new Canada hub
European betting operator Carousel Group is actively pursuing media partnerships in the US as it looks to increase awareness surrounding its sportsbetting.com brand across the pond.
CEO Daniel Graetzer said the operator was not looking to be acquired by a larger group at the moment and was instead preparing to raise capital for further expansion in the market.
“Being acquired is not a focus for us right now, instead we are actively pursuing media partnerships, sponsorship deals and other ways to secure a healthy market share,” Graetzer told EGR North America.
“We recognize the importance of tapping into specific market segments and creating targeted content for these groups,” Graetzer added.
“This is why a significant part of our strategy is based on looking for the right types of media deals with platforms that have highly engaged audiences.”
The Madrid-based business entered the US via Colorado in September 2020, where it has partnered with Johnny Nolon’s Casino in Cripple Creek to provide online sports wagering.
It secured market access in an additional three states via an agreement with Caesars Entertainment in February.
Graetzer said the operator expects to go live with its sportsbetting.com site in Indiana and Iowa in the summer, while its New Jersey proposition, which will include igaming, is scheduled for Q4 21.
“Our New Jersey proposition is slightly more complex because we are planning to go live with igaming and sports betting at the same time,” he said.
“We are currently preparing our infrastructure and going through the licensing process in the three states, ensuring our market entry is as frictionless as possible.”
Graetzer added: “The key features that we look for in a state to potentially enter is a combination of attractive demographics, reasonable market access costs and igaming, or at least the potential for igaming.”
Carousel has established offices in New Jersey, and Canada and has been hiring across a number of product and development roles to be based in Montreal.
“Unsurprisingly, Covid-19 has slowed down our physical office expansion but, in true Carousel fashion, we’ve managed to sustain growth through adversity, and we have increased our [overall group] headcount to over 100 staff in 2020,” Graetzer said.
The operator powers its own proprietary gaming and betting platform and expects to offer a unique and differentiated product in the US.