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onsidered an essential reference as a regulator in Latin America, he agreed to a talk with Yogonet in which he analyzes a new challenge: venturing into private activity, leading a company that offers Consulting and Advisory services.
After many years in charge of a public entity, how has the experience of starting to work in the private sector been, and what are your expectations in the matter?
The challenge and the conviction that our contribution could be important were defining elements that led us to promote this project. Having extensive knowledge of the type of regulation that governs the different countries in the region, and identifying the various possibilities for business development, among other things, make it possible for us to provide all the qualified inputs for decision-making.
After being linked for a long time to the industry through state organizations, and having a vision that is not specifically commercial, we accept the challenge of providing another perspective that adds to the advancement of investment.
Being linked to the private sector has always been a challenge for my career, and the expectations are certainly very encouraging considering the path traveled, in which I was able to receive training, get to know different markets, exchange knowledge and experiences with experts from all over the world and, fundamentally, understand the logic of how the industry moves and where the preferences of bettors lie.
There is a lot at stake when defining a certain investment, and from our point of view, we can cooperate and act in a transparent manner, putting all the elements to take into account on the table.
What characteristics does the consulting agency have, and which verticals are the key focus? Is it aimed at operators, regulators …?
Our objective in terms of advice is aimed at all those who play a decisive role in the industry, operators, regulators, and suppliers. Currently, we have the needed knowledge, which will allow us to develop different stages, first analyzing the scenario in which we find ourselves, and from there take firm and decisive steps until we achieve the objectives set.
There is a period of market opening in the region, which augurs a very encouraging future for the sector. Providing certainty to investors is key to minimizing risks and obtaining good results. Our work is based on earnestness and acquired knowledge. Knowledge of the different regulatory aspects, of interpreting the objectives pursued by each of the countries in the short, medium, and long term, of understanding the logic of the different States and their way of viewing the game, and fundamentally, knowing first-hand what private actors need to enhance and professionalize everything that involves the industry.
We understand that there are a variety of legal, commercial, and institutional aspects that inevitably must be taken into account when solving an issue, and that having all the information in this regard ensures taking firm steps for future investments.
We believe that providing certainty has a determining value, and it is one of the aspects that we intend to guarantee.
Every investment project must be backed with supplies that provide us with security. The lack and quality of information cannot be factors that discourage investment. The consultancies to be carried out can be private or public, always aiming at growth, on the understanding that there is space to do so and this would imply the generation of resources and strengthening of the activity as a whole. We are convinced that our contribution can be extremely useful for all those who are part of it because on many occasions the companies lose sight of the way to face the different proposals when faced with the State regulators.
Taking into account your experience not only in Uruguay but as the head of Cibelae for example, will the consultancy specialize in Uruguay or will you work advising clients in markets throughout all of Latin America?
In principle, we do not rule out providing services within our country, but we primarily target clients who have aspirations to enter the other countries that make up the region. To enhance the work, and in the event that we deem it necessary, we plan to sign specific agreements with professional figures in those countries where the different companies intend to enter and develop their commercial strategy.
The growth of online gambling is noticeable in many regional jurisdictions. Will you offer advice regarding this vertical?
Without a doubt, the growth of online gambling must go hand in hand with a development policy for it. Moreover, the advisory tasks that we have been carrying out are fundamentally aimed at the possibility of developing online gambling in those jurisdictions which are open today and where there is interest in strengthening the market. Undoubtedly, its development today allows us to envision a challenging future full of possibilities. This is where the interest shown by the different companies comes from.
