Always up for a challenge, DUXCasino is living up their name and leading the iGaming industry. From new projects at DUXVentures to the development of DUXPlatform, SiGMA News sits down with them for an exclusive interview
How did the DUXGroup story start, and what are the core principles leading this group forward?
The story of DUXGroup began one and a half years ago. We already had expertise in the iGaming sector, but it was mostly in the field of marketing. We wanted a new challenge, and a team of 3 people decided to try operating a casino. So the first investment in the project was made and we acquired duxcasino.com. We bought a ready-made project, appointed a leader (project manager), and started assembling a team for it almost from scratch. After four months, we had 500,000 users on the product’s website per month, and after another 5 months, the project paid off and began to generate a net profit. During the first 9 months, we hired 80 people and now we have 150 people in our team. And this is just the beginning.
The main principles of the company:
- To employ the best – we want to work with professional people who are experts in their field. It is important for us to hire people from whom we can learn something new.
- Transparency and trust – we build transparent and honest relationships with our team. We say everything directly and openly and keep our promises.
- Always try – since we have recently appeared on the iGaming market and in order to catch up with competitors who have been on this market for decades, we have chosen the strategy of always trying and not being afraid to make mistakes.
- Work hard, play hard – this motto definitely suits us. We work to the best of our ability, but when the time comes to relax, we have a great time.
Dux is Latin for leader – does this hold any significance for the company?
DUXGroup – is our new name, it wasn’t chosen by accident. Dux means chief, a leader who gathers together the best people in order to conquer the iGaming industry. Now there are almost four projects within our holding, each is unique and each is led by a Dux, who moves “the tribe” forward. We are sure that such a deep connection with the team and its perception as our own tribe can advance our holding on the market.
You have recently purchased PinoCasino, how will the acquisition of this brand help develop DUXVentures?
It turned out to be a fairly successful and worthwhile purchase. At the time of the acquisition of PinoCasino, we already had a strong operating team assembled, and the brand itself also had a small but strong in-house team. Our synergy and close communication allowed us to multiply the project’s revenue for the first quarter. DUXVentures is not a classic fund that gives money to dozens of projects in the hope that one of them will become successful. This is a fund that invests not only money but expertise also. We actively operate in every project and help the founders to skyrocket and build a great story for the long term.
Tell us about DUXGroup Ventures – an iGaming VC fund, do you have any plans to diversify the verticals you invest in?
We believe in focus. The iGaming market is very changeable and the team should be as involved and focused as possible. The market is huge, fast-growing, and promising. We do not see any sense in investing in other verticals, but at the same time we are happy to consider projects from related niches, for example, payment systems, game providers, projects in the advertising sphere, but it is important for us that all these projects work in the iGaming sector for maximum synergy.
You have a couple of new initiatives in the pipeline, what can you share about these upcoming projects?
At the moment, we are finishing the development of DUXPlatform, it is our own B2B platform, on the basis of which it will be possible to launch your own online casino with the twist of a spanner.
All the leading game providers, such as Play’n GO, Pragmatic Play, Evolution Gaming, and many others, as well as payment providers such as Sofort Banking, Paysafecard, Interac, and others, have been already integrated there.
Its feature will be maximum flexibility and transparency for the partner, we believe that the time of “black boxes” has passed.
We also rely on a powerful BI platform that will help our partners get detailed data online: forecasts for LTV, сhurn rate of users, tools for VIP/CRM teams, everything that is necessary for successful operation, in our opinion.
You have offices in both Malta and Cyprus, do these Mediterranean locations offer any advantages for growth in the iGaming sector, and do you have any plans to expand to other locations both within and outside of Europe?
We are absolutely not tied to a place. We believe that the main key is people. We opened an office in Malta not because it is a fashionable place and there are many specialists in the field of iGaming, although this is true, but because we found a strong leader, a “dux” who led the team and opened an office, recruited people and is leading them to victory.
We are open and easy-going, we are ready to open an office in any country in the world, the main thing is that there is a strong person, a leader.
Our main office is located in Cyprus, and all the TOP management is located there. A lot of cool specialists work with us in a remote format, and once a month for 1-2 weeks, they come to Cyprus to be in contact with the team. In our opinion, it is important to be inside the team and feel the team spirit.
What are DUXGroup’s plans for the long term?
It will sound trite, but we sincerely want to do something that no one else has ever done before. We would like to revolutionize the world of iGaming. We do not understand exactly how we will do this, but we know that we will not stop until we complete it.
Find out more about the holding at https://duxgroup.com
SiGMA Americas Virtual 2021:
Join us today for day two of the SiGMA Americas Virtual show. Features include a fully interactive expo floor, networking chat rooms, and a high-profile lineup of panelists. Explore the agenda or check out who’s on the floor plan.