Casino Technology CEO: Suppliers must balance innovation with market acceptance
It is essential for suppliers to strike a balance between innovation, efficiency and market acceptance, according to Milo Borissov, Founder, CEO and President of Casino Technology.
Gambling Insider travelled to Casino Technology’s headquarters in Sofia, Bulgaria for the supplier’s 20-year anniversary and spoke with Borissov about what is required to remain in the industry for so long.
Borissov said: “You have to find the right balance between innovation, performance and also the market acceptance. Sometimes markets are not ready for innovation, or not to this extent.
“We’ve had some trials and errors where we launched something that was too innovative for the time and then a few years later it proved to be good.”
Presentation of a new solution is just as important as the solution itself, the CEO said. New technology in games can take an adjustment period as players become used to the updated systems.
Borissov also described the process behind designing new games and matching the market’s needs.
He said: “First we conduct some market research; we need to find out what is the expectation of the players in this market. What kind of games do they like to play?
“Then we look to see if we have similar games and if these games are able to compete in market or if we need to modify them. We either tweak certain elements or create new games.
“Next, we also look into competition to see what they are doing. We try to find out how we can improve and what we can offer to exceed competitor’s products and players’ expectations.”No tags for this post.