Interview: Magnet aims for ‘subtle’ approach in UK

Interview: Magnet aims for ‘subtle’ approach in UK

Friday, December 19, 2014

Get ready UK social gamers – the Danes are coming.

The good news for those on the west side of the North Sea is that, on this occasion, they are travelling in peace. Considerably less scary than the Vikings, developer Magnet Gaming is aiming for the UK gambling market in 2015 with a soft approach, but with huge ambition.

Leading them is Mads Peter Veiby, an entrepreneur who has been involved in social casino gaming in Europe for a decade. When the Danish market deregulated three years ago, Veiby saw an opportunity to apply those skills learnt in the social sector to real money gaming, and he co-founded online casino Spilnu, the first Danish supplier to be granted a licence under the new legislation.

Veiby then founded Magnet earlier this year and, having seen its real-money social games prove popular in Denmark, the company has now obtained a UK licence and plans to launch with eight new games early in the New Year, with more to follow later in 2015.

While the UK is undoubtedly a mature market, Veiby told TotallyGaming.com that he believes Magnet’s games can forge a niche.

“People tend to be put off by the aggressive, volatile slots that predominate, and we believe that a large share of existing and new players prefer the steady flow of our games,” Veiby said.

“By offering a choice to players in the UK who are not catered for at the moment we believe we will be able to help UK-facing operators pick up new customers.

“Among those we include here are the large number of female players who regularly play social games and softer gambling products like bingo. Where are the slots for these players in the UK market as it stands?

“In Denmark, our players seem to enjoy our low stakes ‘sociable casino’ philosophy. It appears to resonate with a large section of the public who wouldn’t necessarily consider themselves to be gamblers.”

Magnet is in talks with UK-facing operators, but has not confirmed any deals yet. Veiby believes that through its high standards of aesthetics and playability, the company will offer partners the ability to win and retain players even in the tough battleground that is the UK market.

Veiby added: “In terms of production values, we intend to be second-to-none. We put a lot of time and effort into making sure our games look and sound unique, with top quality 2D and 3D artwork and animation.

“We are exclusively focused on HTML5, which allows us to deliver on a cross-channel platform with simultaneous launches on PC, mobile and tablet.

“We have very low churn rates at Magnet Gaming and many of our end-users have been with us for years. That’s because we know what they want and are able to utilise the CRM tools that work so effectively in the social sector.

“We are also very careful to analyse player journeys and their playing habits to make sure they continue to enjoy the experience.”

The company also hopes to make significant strides when meeting other big players from the industry at ICE Totally Gaming in London from February 3-5.

“In 12 months’ time we hope to be partnered with multiple operators in multiple regulated markets around the world,” Veiby said.

“We have ambitious plans to take the tournament features in social into a real-money setting. People have been talking about this for a while, but nobody has really done it yet.

“We’re looking forward to speaking to operators at ICE and elsewhere to discuss with them what we genuinely believe is an innovative product with a proven track record at home.

“We’re aware that it is a congested market with a number of large competitors out there, but we feel that a lot of the market is underserved, and that the type of content we focus on is what players want.”

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