1on1 with Inigo Rego at Industrias Lorenzo
1on1 with Inigo Rego at Industrias Lorenzo
Industrias Lorenzo has grown from a manufacturer of plastic injection moulds to become a leading supplier of products for the gaming and amusement sectors, selling its solutions around the globe.
We caught up with Inigo Rego, sales director for the Spanish company, who discussed Industrias Lorenzo’s growth amid the ever-changing market demands of today’s gaming industry.
Totally Gaming: Could you outline Industrias Lorenzo’s history in the gaming industry?
Inigo Rego: Industrias Lorenzo is a family company, founded by Angel Lorenzo Regidor in 1984. Before the foundation of Industrias Lorenzo SA, the activity of the company was under Mr Lorenzo’s name. In 1984, the company started its export development and benefited from the fast growth of the gaming industry.
Something that amazes me is that Mr Lorenzo was a visionary, a trailblazer, because he was developing in the international market. Just look back to the 1980s – only a few companies took the decision to invest on an international level. And thanks to that mentality, Industrias Lorenzo is recognised brand in the global market. Everybody knows the name in the gaming industry.
We have two manufacturing facilities located in Barcelona, both covering 10.000sq.m. The first facility is dedicated to the production of moulds and plastic components, and the second is dedicated to metal components.
These two European facilities are involved in the production of the majority of our products, although there are other products lines, for which we act as a distributor.
TG: You work with both operators and suppliers. How is your business organised to serve your clients’ wide range of needs?
IR: We are specialised in two main business lines: gaming and amusement. In our catalogue, which includes everything a land-based operator and a manufacturer needs, you can find push buttons, prize lights, top boxes, reel mechs and handles, along with many other items.
Our flagship product is push buttons. That’s what we started with, and this is what we still consider our main product line. Some of these will be standard for the market, but we also develop some products that are specific for our customers.
Our R&D department is focused on two aspects: the first is to develop and improve new products to bring to the market, and the second relates to projects when a customer requires a specific B2B solution.
TG: Slot machine hardware is often overlooked in favour of game content. How important are the ‘tactile’ elements of gaming machines in 2017?
IR: First of all, we understand that the industry has different approaches, and times change. We have seen the addition of TFT screens and touchscreens, and some may have thought that push buttons would eventually disappear. But every company we talk with – all of our customers – say that the push button is really important.
At the end of the day, the player really wants to have the feeling of pushing the button. They are really looking for that. It’s a product that has been in the market since the beginning and we believe it will be here for many more years.
TG: Which new products are your currently promoting?
IR: For our flagship product line of push buttons, we have developed a new series: the ILNeo.
These illuminated push buttons that have all the key characteristics the market requires. They are manufactured with high quality technical plastics, have halo effect and can be any colour. We also developed our own five-pin connector and 120-degree LED light.
The ILNeo buttons have a chrome frame, and the most amazing thing for me is the new shape. There’s nothing like this in the market. It’s not square, it’s not rectangular. It’s a trapezoid with rounded corners.
We are also currently developing new products to cover manufacturer and operators’ needs. We are always trying to listen to the market and listen and develop new products for our customers.
TG: Industrias Lorenzo is an established player in many global markets. How would you assess the health of the gaming industry in 2017? Are you optimistic for the future?
IR: Around 50% of our sales are in Spain, and 50% are exports. Spain is our primary market, with around 200,000-250,000 Type B machines in bars. It’s a stable market on an administrative and legal basis, and the legislative framework creates the stability that you need in this sector.
On an export basis, we have customers all around the globe. In Europe, we work with the UK, Germany, Austria, Bulgaria, Czech Republic, Poland and Ireland. A big market for us is the US, of course, and in Latin America, Mexico and Peru are good markets.
We are all waiting to hear what is going to happen with Brazil and the new legislation. We also export to Australia, the Philippines and Japan.
After the global crisis, the past 12 months for us has been an amazing and exciting period. We have increased revenues by more than 10%, and together with our partners and customers we are developing many new products and projects.