Interviews
XANADA’S BREAKTHROUGH YEAR AND THE ROAD AHEAD
2024 was your debut year with Xanada Investments. Looking back, what are the key highlights or moments that defined this first year for the fund?
2024 marked the beginning of an ambitious journey for Xanada Investments – a year where we laid a strong foundation for what’s to come. While the real work lies ahead, I can confidently say that we’ve set the stage.
The highlight was undoubtedly our successful allocation of $9 million across 8 impactful projects, selected from a pool of 350 submissions. Each startup impressed us with its scalability, strong team, and ability to deliver real results – qualities we value as the cornerstone of every successful partnership.
Another defining moment was the debut of the Xanada Startup Contest. It was a platform not just to identify potential investments. We actively participated in major industry events like iGB LaunchPad, SiGMA Pitch, and SBC First Pitch – events we couldn’t pass up. As a newcomer, we not only made our presence known but also earned recognition, securing awards and forging valuable connections.
Beyond numbers, the year was about building a community – a network of partners, founders, and investors who believe in driving transformative change.This is just the start of an exciting journey.
What inspired you to launch the Xanada Startup Contest, and how would you evaluate its impact in 2024?
It’s no secret that many startups are in need of investment. But the real question is, do they have the expertise, networks, and strategic foundation to actually make that investment work? This was one of the key insights that led us to create the Xanada Startup Contest. It wasn’t about running a competition with just a single winner; it was about creating a transparent process: a live showcase of how startups grow, pivot, and adapt in real-time.
Too often, what happens behind the scenes stays hidden, but we wanted to change that. The results speak for themselves. With 250 applications pouring in, representing a diverse range of ideas from around the globe, we witnessed firsthand the depth of creativity within the startup ecosystem. And through a rigorous selection process, we identified and elevated one standout winner – FTDx. The real impact of the contest lies in its ability to challenge founders to think bigger and execute better. That’s what makes the Xanada Startup Contest more than just a competition.
Many associate investment funds with slow decision-making processes. Yet Xanada Investments has been incredibly dynamic. What’s your secret to keeping up this pace in the previous year?
The secret lies in creating frameworks that balance precision with speed. We’ve developed rigorous evaluation processes that combine both quantitative and qualitative metrics to assess startups effectively without losing momentum.
But beyond frameworks, it’s about having a team with the right mindset. At Xanada Investments, we embrace adaptability and foster collaboration. Our team operates with the energy and agility of a startup, and that allows us to move quickly, even in an industry often seen as traditional and slow.
You partnered with 8 startups this year. What caught your attention in these projects, and what’s your strategy for picking the “perfect match” for Xanada Investments?
At Xanada Investments, our focus has always been on backing projects that bring something unique to the table. What sets us apart is not just what we look for, but how we see it. For us, it starts with the people – the founders. Their vision, resilience, and ability to execute are what capture our attention first. These are individuals who truly understand their markets, are ready to pivot when challenges arise, and have the determination to turn ideas into reality.
Among the projects we’ve backed this year, Promofy is revolutionizing user retention with AI-driven gamification, delivering personalized engagement at scale. Gamixter is helping operators optimize player interaction with real-time engagement tools, creating more immersive gaming experiences. Bettorify, focused on the rapidly growing Asian market, provides localized white-label and turnkey solutions, enabling operators to navigate regional complexities with ease.
These are just a few examples of the startups we support. Each project we invest in plays a role in building a stronger, more dynamic iGaming landscape. And we’re only getting started.
With 11 award nominations and 2 wins already, success is clearly part of Xanada’s DNA. But how do you define success beyond the numbers?
For us, success isn’t measured by the number of awards. Of course, we are talking about financial returns, about impact, although we deeply appreciate the recognition – it’s always rewarding to see our efforts acknowledged on such a level. These awards are proof that we’re on the right track, but they are only part of the story.
But are we helping startups achieve their goals? Are we setting new benchmarks in the iGaming industry? The true measure of success lies in the growth of the projects we support and the people behind them. When we see startups flourishing, scaling their businesses, and turning ideas into impactful solutions, that’s the ultimate reward.
Another key indicator of success for us is the relationships we cultivate. When founders and partners come to see Xanada Investments not as just an investor but as a trusted collaborator and ally, we know we’re doing something right. These connections, built on trust and mutual ambition, are the foundation of our ecosystem.
What does the future hold for Xanada Investments in 2025? Are there any ambitious goals or projects you can share with us?
2025 is about scaling powerful results. We plan to invest in 10–12 new startups, focusing on projects with strong business fundamentals, exceptional teams, and clear strategies for growth. Our approach prioritizes opportunities with a targeted IRR of 25–40% and a MOIC of 3–5x, ensuring every investment aligns with our commitment to sustainable, measurable returns.
We’re taking the Xanada Startup Contest to the next level this year. Xanada Investments is expanding its reach and updating the evaluation process to attract a wider range of participants from diverse industries and markets. To ensure the best selection, we’re involving not only our team but also top industry experts to evaluate the entries. This will help us find and support the most promising ideas out there. With more transparency and live engagement, you’ll have the chance to see and hear these groundbreaking ideas in action. Stay tuned, big things are on the horizon!
Xanada Investments is also focused on strengthening our internal capabilities. A key priority for 2025 is to grow our team by bringing in top talent, including a dedicated analyst, to refine our data-driven approach to startup evaluation. We want to be a partner that equips startups with the tools, mentorship, and connections they need to succeed. The road ahead is ambitious, but we’re ready to seize the opportunities 2025 has in store.
The post XANADA’S BREAKTHROUGH YEAR AND THE ROAD AHEAD appeared first on European Gaming Industry News.
Interviews
HIPTHER Community Voices: Jurijs Rapoports – Chairman of the Board & Chief Operations Officer of Tonybet
Welcome to HIPTHER Community Voices, where we sit down with industry leaders to discuss their journey and vision. Today, we’re joined by Jurijs Rapoports, the Chairman of the Board and COO of Tonybet.
With a career spanning over a decade in iGaming and technology, Jurijs has a reputation for building high-performing teams and driving operational excellence. His strategic leadership has been instrumental in Tonybet’s success, focusing on global market growth and operational efficiency. He’s known for balancing big-picture vision with hands-on execution, empowering his teams to excel while actively engaging with the broader iGaming community.
Since taking the helm of Tonybet SIA in 2024, Jurijs has been guiding the company’s next phase of strategic growth, solidifying its position as a major competitor in the international iGaming landscape. We’re excited to dive into his experience and insights.
Tonybet has made a name by sticking to the rules. What drives your commitment to full licensing, even in markets where others cut corners?
We don’t make light of our license acquisitions, that’s for sure. There are a lot of reasons for this, but most importantly it supports our main goal to give the best experience possible to our users.
We hold several licenses worldwide since 15 years of running the business, such as Canada and the Netherlands, both of which have particular requirements to enter the market. With our experience to follow the law to the letter and operate in various places, we are then seen more as trustworthy. As a brand, it’s gaining us a respected name in an industry usually surrounded by stigma. The fact that we can promote ourselves as a licensed operator is like showing our badge of honor. We show to our players, new or existing, how reliable we are. Our dedication to cultivating this trust creates meaningful, long-lasting connections with them.
That also reflects in our marketing strategies, from adding legal lines to reminding players to game responsibly, keeping in mind the rules set for us. As a result, we’re driven to give premium entertainment where player safety and comfort is indispensable. Overall, it pushes us to be adaptable and creative. Yes, it is a difficult path to take, but we hold onto the belief that it will lead us to sustainable, long-term success.
In an industry where shortcuts are common, what does “doing things right” actually look like at Tonybet?
We know we’re “doing things right” when more and more players are being trusting and loyal through the little improvements, rather than game-changing ways, in all the things we create. Even in strengthening our brand, we always take a closer look at the market.
At Tonybet, we always show to our players that we treat them as a community. When it comes to promoting our platform, we portray iGaming as a valid and meaningful form of leisure. As long as it’s done responsibly, there’s no shame in doing so. But as we’re all aware, there are more operators that opt for shortcuts, making things worse for the very few that truly care for the market and understand the importance of complying with regulations. There are even several cases of non-compliant campaigns that are still practiced to this day and spread around. This kind of exploitation cannot continue any longer than it should have. Changes must be made. That’s why we consistently do what we do. By advocating for responsible gaming, safety, and mutual respect for our players, we encourage others to turn in a more ethical direction.
Fraud is a growing threat. How is Tonybet using machine learning and tech to stay ahead of bad actors?
Fraud is something that will not ever stop. It’s an inevitable force that should not be dealt with passively. But thanks to machine learning models, real-time monitoring is possible and much more effective against bad actors. At Tonybet, we have a combination of solutions in our systems, including behavioral analytics, device fingerprinting, geolocations, and many more. We also collaborate with trusted third-party vendors that provide us tools and global intelligence that give us security advantages.
Of course, these tools could only go so far without training the very backbone of the company. So, we also adopt practices like red teaming, audits, and internal stress testing.
We don’t have a one-size-fits-all solution. We’re always evaluating our systems to check for blindspots.
Can you share an example of when your risk or player protection systems helped prevent a potential crisis or high-risk situation?
There was one time we detected a group of 400 newly registered accounts acting strangely. These accounts shared the same device fingerprints, with IP overlaps and identical gameplay patterns, such as adding small bets right after redeeming a welcome offer. This is a common behavior of coordinated bonus abuse. Our fraud detection system flagged the activity within hours of them becoming active. Without our high-tech solutions, it might take days or even weeks for one person to connect all the dots manually. Our team acted quickly, freezing the accounts and reporting the incident within the same day. In the end, we prevented over €30,000 in potential losses, kept the promotions going, and went back to business as usual without any PR nightmare.
It was a great example of how the right technology doesn’t only make us respond faster: it allows us to act early, protect the business, and prevent honest players from being affected.
Gamification is a buzzword—but what does it mean to you? What new features are in the works to keep players engaged and entertained?
True, gamification is all the rage nowadays, a marketable catchphrase in the industry. But to us, there’s more to it than that. We have a tagline “We’re here to play,” that we place in all of our promotional campaigns. It’s our main philosophy to be dedicated to creating what’s fun and exciting for people. To bring a grand experience where players would think and feel our platform is just like playing in a real casino. Gamification makes this feat possible. So to us, it plays a big role.
Gamification is part of our USPs. We invested a lot on it for our platform. Alongside the use of AI, players can see a personalized gaming lobby based on their preferences. Another gamified feature is the Daily Missions, created for those who only have little time to play but still being able to get rewards by accomplishing simple tasks. Our VIP program, on the other hand, was also refined by gamification for our loyal players. Both casino and sports-betting have some sort of VIP levels that makes the overall gameplay more engaging and interactive. These are available in our platform and mobile apps already and they get updated based on user feedback.
With the pace of tech and regulation accelerating, where do you see Tonybet in the next five years?
By then, Tonybet would be in a leading position as a reliable operator for both regulators and users. I’d want our brand to be known for delivering a casino and sports-betting platform that managed to balance being fun and yet also trustworthy.
Part of our roadmap is to continue refining our product using AI and other cutting-edge tools available to us. We’re always looking for new and better ways to personalize the experience for our users, something as intuitive and innovative as Daily Missions, which is one of our standout features.
When it comes to accessibility, we will continue reaching out with our existing players and make sure our services are available to the right people. We will be leveraging affiliates and Google search channels for this one.
There’s this vision we have to become a market driver that highlights how important white-label operators are for player comfort and security. So in everything we do, we will keep on promoting responsible and safe gaming practices, and helping players embrace them every step of the way.
A huge thank you to Jurijs Rapoports for joining us and sharing his insights on responsible gaming, operational excellence, and Tonybet’s commitment to building a brand rooted in trust.
His perspective on how adherence to regulations and player safety isn’t a hurdle, but a foundation for long-term success, is a powerful message for the entire industry. It’s clear that under his leadership, Tonybet is not just playing the game, but also working to change it for the better.
HIPTHER Community Voices is a platform dedicated to highlighting the leaders, innovators, and visionaries shaping the future of the iGaming and tech industries.
If you’re a member of the HIPTHER Community and have a story to tell or an opinion to share, we want to hear from you! Reach out to us to be featured in our next interview.
The post HIPTHER Community Voices: Jurijs Rapoports – Chairman of the Board & Chief Operations Officer of Tonybet appeared first on European Gaming Industry News.
We sit down with Rafael Levy, Chief Growth Officer at Dreidel, to learn more about how the rising start slot machine manufacturer from Mexico is taking the market by storm.
For those who haven’t heard of Dreidel, who are you, and what products do you offer to the industry?
We are a proudly Mexican company that’s been designing and producing land-based slots since early 2020. Recently, we’ve expanded our offering into the online space for the first time. From day one, our mission has been to bring innovation and quality to the land-based gaming market in Mexico, and we’ve done this by making sure we have a deep understanding of player and operator needs through the hands-on experience of our team and constant iteration and improvement of our products. What sets us apart – indeed, I’d say it’s our superpower – is the highly experienced team we have built at Dreidel, with everyone having worked directly in the field. This has allowed us to learn not only from the successes we have enjoyed but also from the challenges we have faced and overcome along the way.
Can you describe your approach to slot development?
Rather than develop products in isolation, we take a meticulous and practical approach to understanding the dynamics of the market we are in, especially when it comes to what the player expects from a slot game. By doing this, we’ve been able to put innovation at the foundation of our approach to development, which in turn allows us to consistently evolve our games and cabinets so they deliver fresh, engaging and differentiated experiences that hit the mark with players. Ultimately, our products for both land-based and online are born out of real-world insight and combine quality with creativity to ensure we not only meet but exceed player expectations. Because we are a young company, we’ve been able to use and leverage the latest technologies, and this has helped us deliver a superior product and ultimately build massive momentum behind the business.
Just how important is it to read the market and understand what players and operators are looking for?
It’s very important, and that’s why it’s a fundamental pillar at Dreidel. We have developed a process that allows us to read the market with precision and agility, and then easily feed that insight into our development cycle. We know that we operate in a highly dynamic environment where player preferences can shift quickly, driven by trends, global influences and evolving technologies. This is why we invest so heavily in continuous market research and pay close attention to player and operator feedback, as this enables us to act fast, adapt effectively and launch innovative products that stand out and gain traction from day one.
You mentioned your team as being critical to the early success you have achieved. Who are the key people behind the business?
Dreidel was formed as a joint initiative by a group of entrepreneurs with extensive operational experience in the gaming industry. This includes Isaac Shemaria and Moisés Shemaria, who came up with the initial idea for the business. Since our launch in 2020, we have grown with a structure that balances an ambitious strategic vision with strong on-the-ground execution. Today, the company is led by José Shemaria and Rafael Levy, and has a highly skilled multidisciplinary team driving key areas of the business.
The direction of the project is led by a collaborative leadership group that ensures every decision is aligned with our long-term goals. This synergy allows us to maintain a strong commercial focus, efficient operations, and sound financial planning, all aimed at meeting the evolving needs of the market. It’s worth highlighting our technology and innovation team, which plays a vital role in developing unique gaming experiences, turning ideas into functional products that resonate with both operators and players. This is complemented by the daily work of our developers, technicians, operators and commercial staff, who bring deep industry knowledge to ensure our products reach the market with both impact and quality.
We firmly believe that our true value lies in the strength of our collective talent. Every area and every person play a key role in turning ideas into reality. This integration of strategy, creativity, execution, and consumer insight is what has shaped our growth and continues to drive our success in such a competitive industry.
You’ve quickly established Dreidel as a leading slot machine manufacturer in Mexico. How did you do this, and what sets your product apart?
The market-leading position we have achieved is the result of a long, challenging yet rewarding journey. It’s been a step-by-step process, marked by both setbacks and incredible achievements, all of which have shaped us into the company that we are today. What sets us apart from other suppliers? I’d say it’s our ability to deeply understand and analyse what players want and enjoy. We don’t create generic products, we listen to the end user, study their behaviour, preferences, and playing habits, and design games that resonate with them on a personal level.
We focus on meeting the unique demands of the gaming sector, tailoring our offerings for each market we target. Mexico is our primary market, but we are making moves into other LatAm markets and North America, too. Our goal is to deliver games that are not only innovative in terms of technology and design but also captivating for the player, grabbing their attention from the very first spin to the last.
Today, we offer Class III products that are ranked among the top performers in the Mexican market. That leading position is the result of a clear vision, a player-focused approach and a passionate team committed to creating experiences that truly stand out.
What makes the land-based slot market so difficult to crack?
The land-based slot machine market is one of the most complex and demanding areas within the gaming industry, mainly due to the high barriers to entry, both technological and regulatory. It’s not enough to have a good idea; you need a product that is technically solid, commercially viable and fully compliant with strict industry standards.
One of our biggest challenges was developing the right product, one that would truly succeed in the market. This required significant investment in research, development, certifications and continuous testing. We also faced the challenge of competing against well-established brands, which pushed us to stand out not just through innovation, but through product quality and a deep understanding of the player.
We overcame these challenges by being patient, strategic and consistent. We had to earn the trust of operators and players one step at a time, proving that our products meet the highest standards while also delivering unique experiences that resonate with end users. It’s been a journey of perseverance, but one with highly rewarding results.
What is your top-performing game, and what made it so popular?
Our top-performing game is Imperial Ascension, a Class III title that stands out for its innovation and its ability to truly engage players. It’s more than just a slot game—it’s an immersive experience that captures attention through its functionality, visual appeal and the excitement it creates.
What has made Imperial Ascension such a success is its unique touch: it offers high rewards and a strong element of mystery that keeps players engaged throughout their session. The game continuously surprises players with multiple progressive jackpots embedded within the gameplay, which not only increases anticipation but also significantly boosts the potential for big wins. This combination of innovation, excitement and rewarding mechanics has made it one of our standout titles.
You also have a portfolio of online slots. What are your plans for the online segment, and what opportunities have you identified?
The online segment represents a completely different universe for Dreidel, with its own dynamics, audience profiles and player behaviours. That’s why we’ve developed a dedicated approach for this channel, with a specialised team that understands the nuances of the digital player experience.
Our online strategy is not about replicating the land-based model but rather adapting to new consumption habits by leveraging the advantages of technology and the accessibility of online platforms. We’ve identified significant growth opportunities in this segment, particularly driven by the increasing demand for digital entertainment, flexible formats and the ability to reach a much broader audience.
We are currently in a phase of deep market analysis and building a solid, tailored offering. Our goal is to deliver innovative, responsible and engaging experiences for online users. The online segment is a key path for our future expansion, both within Mexico and internationally.
You mention international markets. What are your plans to take Dreidel beyond Mexico?
This is the perfect time for international expansion and particularly into the United States because it’s the largest and most dynamic market in the gaming industry. It offers tremendous growth opportunities, a highly diverse base of end users, and presents many exciting challenges that we are fully prepared to take on.
The variety in player preferences within the US market pushes us to continue innovating and refining our approach. Our focus is on adapting to that diversity by delivering customised products that offer unique and engaging experiences.
The United States is one of our main strategic priorities, as we see the potential for exponential growth in that region. We’re confident that this is the natural next step for Dreidel and that we have the strength, creativity and vision to compete successfully on an international scale. Of course, we are also looking at other markets within Latin America and to replicate the success we have enjoyed in Mexico in the jurisdictions we chose to enter.
The post Getting to know Dreidel appeared first on Gaming and Gambling Industry in the Americas.
Armen Tatarevic VP of Gaming at White Hat Studios
White Hat Studios: The power of a diverse jackpot product portfolio
From the earliest brick-and-mortar facilities to the digital age of online casinos, jackpot products have remained a powerful acquisition and engagement tool, appealing to players with the allure of increased win potential beyond the base gameplay.
With the US iGaming market still in its relative infancy, there has been limited development and implementation of progressive jackpots. However, as the nation’s market continues to evolve, we are increasingly witnessing a variety of unique jackpot payout structures emerging, fuelled by companies like White Hat Studios. The first provider live in all seven regulated US states, the supplier has been at the forefront of jackpot innovation, initially with its Jackpot Royale
product, and most recently with the launch of Jackpot Royale Express, a fast-hitting structure that delivers more frequent payouts.
We spoke exclusively with Armen Tatarevic, VP of Gaming at White Hat Studios, to discover why developing a diverse suite of promotional tools has become essential.
What trends are influencing jackpot product development within the US?
Jackpots have long been synonymous with the US gambling industry and this appetite has translated from land-based to online casinos. However, with the rise in popularity of iGaming and the breadth of choice for players, it has become crucial to tailor products specifically in alignment with consumer preferences.
This approach is particularly pivotal in regulated US markets, where each regulated state has its own intricacies. For example, players in the established New Jersey market are typically drawn to larger jackpot prizes, considering the greater number of operators available to choose from.
In contrast, we see a trend of players in less mature markets, such as Pennsylvania, gravitating towards smaller, faster-hitting jackpot structures as they explore what works for them in the iGaming landscape.
Why is it important for suppliers to offer jackpot networks with varying payout structures?
Each player has unique preferences, and it is simply an unattainable goal for a single jackpot product to satisfy every playstyle. Crafting a diverse suite of promotional tools can accommodate a variety of preferences, with each product engineered to appeal to contrasting player tastes. Not only does this result in the curation of a well-rounded portfolio that maximizes potential audience reach, but also ensures operators can find everything they need from a comprehensive, all-in-one suite of promotional tools.
White Hat Studios’ progressive jackpot networks are the perfect example. Following the success of Jackpot Royale, which has a top prize that pays out an average of $175,000, we recently launched Jackpot Royale Express, designed to enhance engagement with a specific subsection of players by offering smaller jackpot payouts with far greater frequency. Landing five fireball symbols in linked games activates the Jackpot Wheel, where cash prizes and five progressive jackpots can be won, guaranteeing suspense with every spin.
Have you witnessed an appetite for fast-hitting structures in US markets?
It varies state-by-state, but there has been a general surge in the popularity of jackpot products that offer more frequent payouts, especially across mature UK and European markets. A key factor driving this trend is player psychology – some individuals feel that winning a top jackpot is highly unlikely, leading them towards games with more attainable prize structures. By offering lower prizes that drop regularly, these products sustain player engagement and enhance retention by creating a sense of continuous excitement and anticipation.
This is particularly prevalent in newly regulated states where players are still familiarizing themselves and exploring the landscape of online jackpot products. Here, the more cautious player approach drives traffic to fast-hitting jackpot structures. Striking the optimal balance between the frequency and size of payouts is the challenge for developers to overcome. Both jackpots that drop too infrequently and those that deliver regular but insignificant prizes will result in a loss of player interest for operators.
What has been the initial response to your own fast-hitting jackpot network, Jackpot Royale Express?
Jackpot Royale Express was designed to attract players with achievable jackpot prizes by increasing the likelihood of the Wheel feature triggering. It has certainly delivered on that promise, and in less than a week following launch, had already awarded more than 1,000 jackpot wins to US players. Many US-facing titles feature five fixed jackpots, so the nation’s players are already familiar with the format, and Jackpot Royale Express elevates this to new heights by triggering more frequently. We look forward to tracking its continued success as more and more of our hit titles are integrated into the network.
The post White Hat Studios: The power of a diverse jackpot product portfolio appeared first on Gaming and Gambling Industry in the Americas.
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