Operator Talk: Optimal Payments targets US expansion

Operator Talk: Optimal Payments targets US expansion

Friday, January 30, 2015 Totally Gaming

Despite the ongoing uncertainty over the future of the US online gaming market, senior executives at Optimal Payments have told TotallyGaming.com that the company is hoping for wider regulation of such activities in order to expand its presence in the country.

 

Although online gambling is only legal in three states across the US, this has not deterred interest from companies looking to take advantage of such emerging markets.

Optimal Payments is one company that is keeping an eye on the ongoing online gaming mix in the US, which was recently stirred up through new internet gambling legislation being tabled in a number of other states.

Joel Leonoff (pictured right), president and chief executive officer of the firm, and Danny Chazonoff (pictured left), chief operating officer, told TotallyGaming.com that this recent activity has only increased the company’s interest in the US.

“With an increasing number of American states currently exploring legalising and regulating online gaming, Optimal Payments is looking forward to expanding its business reach across the US,” Leonoff and Chazonoff said.

“The company will use its growing expertise and experience in the gaming industry to further strengthen its position as a leader among payment providers in the sector.

“These markets are important to Optimal Payments and in particular, Optimal Payments is closely following and supporting the adoption of online gaming in the US. The company is excited about evolving opportunities and is encouraged by the prospect of regulated online gaming in additional American states.”

Optimal has already established itself as a force in the US market through expanded activity in North America during the last 18 months. This includes the provision of services to Caesars Interactive Entertainment and the offering of payments and risk services to Bally Interactive and its clients in the US.

Further still, the company's NETELLER and Net+ products were launched in the US in March 2014. Since this initial launch, Optimal has reported a “high rate of adoption” by online gambling merchants in the three states that have regulated online gaming.

Leonoff and Chazonoff said the company will now build on this, as well the success experienced through its wider operations, to enhances its presence both in the US and other markets around the world.

“In line with the general growth in the online gaming market over the past 12 months, Optimal Payments has experienced strong growth in the revenues it generates from processing payments in the sector and it expects that growth to continue,” Leonoff and Chazonoff said.

Picture - Optimal Payments' office in Toronto, Canada

“Having accomplished all of its stated goals during the year, both financial and non-financial, the company has emerged with a strong foundation for 2015 and looks forward to maintaining the momentum established in 2014.

“Our executive management team has been strengthened through the addition of talented and experienced executives from Meritus and GMA, which was acquired by Optimal Payments in July last year.

“The recent appointment of Brian McArthur-Muscroft as chief financial officer provides Optimal Payments with even greater gaming sector experience as well as outstanding leadership, discipline and value for its growing business.

“In March 2014, Optimal Payments appointed Thomas Auriemma as an adviser to provide strategic and regulatory advice on current and future US state regulation in regards to payment services for the online gaming industry. Auriemma has over 28 years of experience in casino regulatory roles and is one of the few individuals to have been employed by both casino regulatory agencies in New Jersey.

“Meanwhile, Optimal Payments has also noted a significant increase in the adoption and promotion of NETELLER among marquee clients as well as affiliates.

“Finally, Optimal Payments expects its M&A strategy to continue to generate attractive opportunities in the gaming sector that will generate growth and diversification in the year ahead.”

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