Nikos Fligos: Cyprus is one of the few markets in Europe without an online gaming/casino licensing process
We are already at a very high level of technology but that does not mean we are slowing down our investments in technology
By Panagiotis Rougalas
The position that Stoiximan managed to make a transition a few years ago to become one of the leading “gametech” companies today is expressed by the Commercial Director of Kaizen Gaming for Greece, Cyprus and Bulgaria, Nikos Fligos.
In his interview with “K” he shares his goals, comments on the uniqueness of Cyprus as a destination, talks about Stoiximan's contribution to Cypriot sports and reveals new agreements.
In recent years the global economy has suffered significant shocks, which has created a new reality for all markets.
– Stoiximan is the leaderof the online betting market in Cyprus? If so, what is your goal as a Commercial Directorin a market where you are already number one?
– We aim to stay at the top. In a highly competitive market this is not a given. To maintain our leadership position we constantly invest in our product, plan and implement actions to ensure an excellent level of experience for our customers and we consistently have a prompt, efficient and we want to believe very friendly customer service. My goal as Commercial Director is to foster a culture of “continuous improvement”, in simple words to become better every day in everything we do. To follow the trends, to interpret the needs of our customers and to always be one step ahead. I feel proud that my team consists of people with great talent and full of appetite for work.
– The field of onlinegamingis characterized by big changes and rapid developments with global competition in terms of technology. How is Stoiximanresponding to these developments?
– Our company, a few years ago, managed to make a transition to be one of the leading gametech companies today. This transition is largely based on technology. That is, in our ability to create and integrate technological applications that continuously improve the customer experience. We are already at a very high technological level but that does not mean that we are slowing down our investments in technology. After all, when technology and innovation are at the center of our business operation, you realize that there is no room for complacency.
– You are Commercial Directorfor Greece, Bulgaria and Cyprus. What are the common elements in these three countries and what differentiates the Cyprus market?
– In any case, the common denominator is the love we share with our customers for sports and in particular for football, whether it is the domestic leagues or more popular ones such as the Premier League. An important element of differentiation of the three markets, which are under my responsibility, is that Cyprus is one of the few markets in Europe without an online gaming/casino licensing process. This has the direct consequence of a loss of revenue, both for the market itself and for the state, with unlicensed providers being able to operate in a “grey zone” and reap huge tax-free profits. I believe that a constructive cooperation of the licensed companies with the regulatory authorities is necessary in order to have immediate progress in the casino market as well, so that Cyprus is aligned with the rest of the European markets. We for our part as Stoiximan, are able to provide know-how and best practices that are applied throughout the rest of Europe and that ensure not only significant tax revenue for the state but also promote “responsible gaming” for those who choose online gaming/casino, which with the current situation is unfortunately out of control.
New reality
– As you will already have on your radar, the global economy is at a strange crossroads. How are online betting companies affected?
– In recent years, the global economy has suffered major shocks, which has created a new reality for all markets. Certainly, any pressures in the global economy affect, to a lesser or greater extent, our market, the resilience we have built as a brand, but also the strengthening of the Online market in recent years, enables us to continue our development course. In every crisis there are always opportunities and I believe that we can always work based on the possibilities and opportunities presented by each market and not the limitations that may be imposed on us.
The Cypriot sports
– Moving on to the sports chapter, what initiatives has Stoiximan undertakento contribute to sports and the local community and repay the trust that the Cypriot players have shown him?
– Since the first day that Stoiximan has been active in Cyprus, it has returned its trust to the local community, as it does, of course, in all the countries it has expanded to, inside and outside Europe. Our company, for years, has consistently supported the Pancypriot Footballers' Association and leading teams of the island such as APOEL, Apollon Limassol, Omonia and several others in the past. Together with the teams and the protagonists, the football players themselves, we have implemented and continue to organize several targeted actions to support vulnerable groups in society.
Also, since 2017 through the Radisson Blu Larnaca International Marathon, as constant supporters of the largest mass event in Cyprus, and in cooperation with several of our Olympic and World Champions who visited the island with us, we have supported and continue to repay the trust in practice of Cypriots. With Lefteris Petrounias, Spyros Gianniotis and other champions we carried out joint actions with Hope for Children, the Red Cross, the Social Grocery of Larnaca and other organizations.
Recently, we helped to beautify the outdoor sports and entertainment areas of the “Friends of the Children's Home and Youth Hostel of Larnaca” Association. In fact, this cooperation with the Social Welfare Services of the Republic of Cyprus will be extended in the coming months by supporting other Children's Shelters throughout Cyprus.
The goal of the Stoiximan team is to continue unabated to support Cypriot sports but also society, through our sponsorship programs and the expanded social responsibility action. We deal with each market as a whole and our presence in it combines both our business and socially responsible operation.
Pivotal year in 2022
– H Kaizen Gaming is the only betting group that sponsored the World Cup with the Betano brand. Should we expect more deals of a similar size for Stoiximan globally?
– In recent years, Kaizen Gaming has been among the fastest growing companies worldwide, constantly conquering new markets and even higher peaks. We are now active in 14 markets, in Greece and Cyprus with the Stoiximan brand and throughout the rest of the world with the Betano brand. 2022 was admittedly a pivotal year for Kaizen Gaming, with the opening of new markets, in Europe and Latin America, its emergence as a leading company in the sector worldwide, at the international EGR Awards and its cooperation with FIFA, as the first betting company, sponsor of the World Cup. 2023 finds us with yet another important agreement, this one with the top Greek athlete and global sports model, Giannis Antetokounmpo, in the first phase for the countries we operate with the Betano brand. We are very proud and happy to have the opportunity to work with a world-class athlete, to promote together sportsmanship, noble competition and a culture of continuous improvement that both Giannis and Kaizen Gaming stand for.
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