Interview with Dee Maher CEO – La Royale Gaming Investments

Interview with Dee Maher CEO – La Royale Gaming Investments

Dee Maher

Dee many thanks for giving us time to talk with you, can we start by asking you about your role as CEO of La Royale Gaming Investments (LRGI) and how you got into the company?
I’ve been working in the global online gambling industry for over a decade, covering roles across legal and compliance leadership. I’ve been lucky to work for some of the biggest organisations in the sector including the likes of Genesis Global, Betclick, Vera&John and Evolution Gaming. When I was approached about the CEO role at La Royale Gaming Investments and learned just how ambitious its founder and backers were, I knew it was an opportunity I couldn’t turn down.

For our readers understanding what is LRGI core business?
La Royale Gaming Investments is a holding company that brings together a unique ecosystem of offline and online gaming companies through strategic mergers and acquisitions. It has three core divisions – its investment division (we are looking to back the best business in the sector), Quanta (our powerful game aggregation platform) and our B2C offering. These divisions are are brought together under the same bold vision and commitment to innovation, with each having its own dedicated team. This makes us a real tour-de-force in the global gambling industry with interests in both the B2B and B2C spaces.

You have been involved in the gambling industry for some time around 2011 you started with Evolution Group, how did that start?
My background is in law and having moved to Malta in 2011, I took up the position of Group Compliance and Regulatory Manager at Evolution Gaming. My focus there was on gambling regulation and licencing including risk management, policy implementation, AML compliance, information systems security management and governance as well as technical due diligence. It was a comprehensive role and really got me interested in and passionate about the online gambling industry – an industry I have stayed with ever since.

What interested you about the gambling industry?
Everything about it, really. It’s fast-paced, innovative and complex, and attracts some of the best people I’ve had the privilege to meet and work with. The scale and pace of change the industry has experienced over the time that I have worked in it is nothing short of phenomenal, and when I look ahead, I see no sign of the speed and extent of change slowing down any time soon.

Since Evolution Gaming you have worked at many well known brands such as Vera&John and Betclic in the legaldepartment, what is your background in that area Dee?
As mentioned, I trained as a lawyer and my first role in the industry with Evolution and Gaming was heading up its Compliance and Regulatory activity. This is a really great area to learn more about the business and the industry as it covers most aspects of operations, technology, marketing, finance and means working closely with management, the C-suite and liasing with Regulators. I stayed in senior legal and compliance roles for most of my career, jumping into the CEO position for the first time with La Royale Gaming Investments. It has been a pretty big jump but I have plenty of past experience that has allowed me to get up to speed quickly and I’m really enjoying the challenges the role presents.

For many of our readers the investment world is not something they know much about, can you tell us what makes a company worth investing in, what are the metrics that interest any investment company to a potential investment?
There are a few metrics to consider when looking to invest in a company. The start-up phase is always an attractive prospect, as this allows for the greatest growth and the highest return on investment. No matter what, its essential that the company has strong USPs and ideally proprietary technology or IP as these are the assets that will ultimately influence the value of the company in the future. For me, a strong founding team is important as we need to be able to work with them once we have made the investment. We also consider things like market reach, growth potential, licenses, certifications and of course the talented team of people working on the business. Ultimately, though, it’s about making sure the numbers add up in terms of the money in versus the expected money out.

Are you able to discuss any of your recent acquisitions and why you chose them and how they are doing?
Quanta is our most recent acquisition and is off to a flying start. Quanta is a premium game aggregation platform developed for the mass market. It is one of the most advanced platforms in the business and is stocked with a range of content providers to suit all needs. One of the USPs is that we allow operators to take certain exclusives with certain providers and games. Adding unique content to their lobbies gives operators a major point of difference over their rivals, drawing more players to their brands. Quanta is also super competitive on price and comes with a support team that is highly knowledgeable and experienced.

Of course not all investments work out, what would you say is the percentage of success as an investor?
I disagree with you there. It’s my job as CEO of La Royale Gaming Investments to make sure that our investments do work out and that if we are encountering challenges, we overcome them. We are fortunate that our investors are experienced and patient, and understand that real value is built over the long-term. Of course, there are no guarantees, but with the right strategy, knowledge, experience and team in place, there is always a route to success.

Are all investments you make or investment companies in general all about an exit strategy in the end?
In my experience, exits come after many years of hard work, deep commitment and passion for the business. This is why investments should always be seen as long-term projects as this is what ultimately ensures that the growth potential is maximized and that the highest valuation for the business is achieved. Personally, It’s an eyebrow raiser when someone launches a business with an exit plan already mapped out. I want to see that they are in it for the long-term and that they will fight in the trenches and do what needs to be done to ensure the business is a success. Then, if and when the time is right, an exit can be considered.

Is there any specific areas of online gambling that interests LRGI more than others, that you see as more growth?
We want to have business interests across the entire ecosystem both offline and online. We already have businesses in the B2B and B2C spaces and will be adding to our portfolio of acquisitions over the coming months in both divisions. This is a unique industry in that growth can be found across all areas, from new gambling brands to aggregation platforms, PAMs, and everything in between. At La Royale Gaming Investments, if we see an opportunity that aligns with our strategic goals, we will absolutely go for it.

At present the major growth in the gambling industry is in the US with sports betting as more states open up, is this an area of interest to LRGI or is that region to competitive?
The US has actually proved to be an incredibly challenging market and one that might not live up to the estimates we saw ahead of states embracing regulation and licensing. For me, there are just as many opportunities closer to home, especially in Europe. Obviously, Latin America is of great interest right now with Brazil set to come online in the New Year, but again this could be a region that throws up more challenges than operators and suppliers are expecting. This is why it’s important to take a considered approach when assessing which markets to make a move into.

If you could offer some advice to individuals on investments in general not just the gambling industry, what would it be?
You need to have a deep understanding of the business and the market it operates in. Look for companies with a strong USP and proprietary technology, solutions or experiences as these are the businesses that will have the greatest growth potential. Make sure to understand the numbers and the long-term plan for the business, and view investments as being long-term.

Before we let you go, you attend many of the conferences and gaming shows, what is your opinion on so many events now for the gambling industry, are they a good thing for you and your company?
You’re right, there’s a lot of conferences and expos on the calendar now and that’s why it’s important to pick and choose which ones you attend. I always look for conferences that facilitate networking and provide the space for face-to-face meetings. I occasionally sit in on presentations and panels, but for me, I see expos as a chance to meet with people, learn more about their businesses and also share what we are doing at La Royale Gaming Investments.