SPONSORED EDITORIAL / M A G N E T G A M I N G
SOCIABLE CASINO PROVIDES
GAP IN UK MARKET
MADS PETER VEIBY, CEO OF MAGNET GAMING, TELLS EGAMING REVIEW
HOW HIS NEW COMPANY HAS DEVELOPED AND ITS PLAN FOR THE FUTURE
t CEO
t MAGNET GAMING
Mads Peter Veiby is a
Danish entrepreneur and
casual games pioneer
who co-founded Magnet
Gaming in 2014. He is
also CEO of Spilnu.dk,
the first company to
hold a gambling licence
in the country following
deregulation in 2011.
84
our research and development goes into the
bonus features that are essential to casual casino
customers. These people are put off by highly
volatile slots and prefer the steady flow of our
games to some of the more aggressive products
on the market. We will do well in the UK because
we are offering a choice to players who are not
being fully catered for at the moment.
eGR: You are targeting the UK slots market.
Why the UK and what is your plan to
penetrate this market?
MPV: On the surface, the UK market is very
crowded – both with operators and suppliers.
But we’re very confident there is a gap in that
market. We have done a lot of benchmarking
against games currently on offer and believe ours
perform very well in comparison. We also know
that Danish players are very similar to British ones
in their outlook. Like the UK, the split between
male and female players is much narrower than
other markets, with bingo and other softer
gambling products proving very popular. Social
games are played a lot too, and it will be these
types of audiences that we will be targeting.
We also think our games are very different
to what is currently on offer. Around 80% of
MADS PETER VEIBY
eGaming Review (eGR): Magnet Gaming has
recently announced its plans to offer a range
of real money slots to operators. With your
background in the social casino sector, what
drove this move and how have you found the
transition?
Mads Peter Veiby (MPV): For the past 10 years
we’ve been building and operating social casino
games across Europe. With the deregulation of
the Danish market three years ago, we saw an
opportunity to apply our competencies to new
markets. As a result, we’ve quickly become the
leading local provider of real money slots for both
casual and core users. We’ve been building our
portfolio of real money games and are delighted
with the results we’ve had so far, particularly on
one of Denmark’s largest operators, SpilNu.dk.
We’re very confident that the knowledge we’ve
developed in the social sector, and our experience
in our home-grown real money sector, will serve
us well when starting to offer our games abroad.
We’ve been successful at converting social
casino players into real money customers and
also finding new customers who are discovering
our games for the first time. They all seem to
enjoy our low-stakes ‘sociable casino’ philosophy
that resonates with a large sec tion of the public
who wouldn’t consider themselves to be serious
gamblers.
eGR: What are your plans for 2015, what new
products or features are you developing?
MPV: Our aim is to launch with eight new
slots in the beginning of 2015, and roll out an
additional eight to 10 new slots throughout the
year. We also have ambitious plans to take the
success of tournament features in social into
the real money environment. ICE is going to be
very big for us this year as it is our opportunity
to take our products out into the world from
their Danish home, where they are proving very
successful. As a result, we’re very excited about
meeting operators in regulated jurisdictions
who are interested in trying something new and
tapping into audiences who are currently underserved by the products on the market. We are
confident that 2015 is going to be a big year for
Magnet Gaming.
eGR: What makes Magnet Gaming stand out
in the crowded casino market?
MPV: If I was an operator looking for new games
I would consider retention first and foremost. At
Magnet Gaming, we have very low churn rates
and many of our customers have been with us
for years. That’s because we give them what they
want and use customer retention tools that have
been successful in social games. We also analyse
player journeys and their habits and respond to
them to ensure they enjoy the experience.
Our games are unique, with different graphics
and maths models on each of them – but the
delivery is very much cross-channel. A customer
can play one of our games on their desktop
during the day, their mobile on the way home,
and tablet at night. They will be playing exactly
the same game, rather than three different
versions. That variety wedded to consistency is
the key to player engagement.
W W W. E G R M A G A Z I N E . C O M