DUXCasino has been up for the challenge, and they deservedly lead the iGaming industry. From DUXVentures’ new project to the development of DUXPlatform, SiGMA News has an exclusive interview with them
How did the story of DUXGroup begin and what are the core principles that have led the group forward?
The story of DUXGroup began a year and a half ago. We already have expertise in the iGaming space, but mainly in the marketing space. We wanted a new challenge, and with that, a team of 3 people decided to try their hand at running a casino. We made our first investment in the project and acquired duxcasino.com. We buy a ready-made project, appoint a leader (project manager) and build a team for it almost from scratch. After 4 months, our product website had 500,000 monthly users; After another 5 months, the project paid off and began to generate net profits. In the first nine months, we hired 80 people, compared to the current team of 150 people. And that’s just the beginning.
The main principles of the company:
- Hire the best people – we want to work with professionals in the field. It’s important for us to hire people who can learn something new from them.
- Transparency and trust – We build transparent and honest relationships with our team. We are direct and open about everything we do, and we keep our promises.
- Keep experimenting – Since we’ve only recently entered the iGaming market, in order to catch up with competitors who have been in this market for decades, the strategy we have chosen is to keep trying and not be afraid to make mistakes.
- Work hard, play hard – this adage definitely suits us. We work as hard as we can, but when it’s time to relax, we have a great time.
Dux means leader in Latin – does that mean anything to the company?
DUXGroup is our new name, and it wasn’t a fluke in the choice of names. Dux means Chieftain, a leader who gathers the best talent to conquer the iGaming industry. Now, there are nearly four projects within our holding, each unique and each led by a Dux that drives the “tribe” forward. We are convinced that this deep connection with the team, and the perception of each team as a group of people, can drive our mastery of the market.
You recently acquired PinoCasino, how will the acquisition of this brand help grow DUXVentures?
It turned out to be a fairly successful and worthwhile acquisition. At the time of the acquisition of PinoCasino, we had already assembled a strong operations team, while the brand itself had a small but strong in-house team. Our synergies and close communication doubled our project revenue in the first quarter. DUXVentures is not a typical fund that funds dozens of projects and hopes that one of them will be successful. It is a fund that invests not only money, but also expertise. We actively operate on every project and help founders skyrocket and build a great story for the long term.
Tell us about DUXGroup Ventures – an iGaming venture capital fund, do you have any plans to diversify your investment verticals?
We are convinced of focus. The iGaming market is very volatile, and teams should be as engaged and focused as possible. The market is huge, fast-growing, and promising. We don’t see any point in investing in other verticals, but at the same time, we’re happy to consider projects in related niches, such as payment systems, game providers, advertising, but it’s important for us that all of these projects play a role in the iGaming space to get the most synergies.
You have a couple of new projects in the pipeline, can you share with us about these upcoming projects?
Currently, we are completing the development of DUXPlatform, our own B2B platform, on the basis of which it is possible to launch your own online casino with a simple move.
All leading gaming providers such as Play’n GO, Pragmatic Play, Evolution Gaming, etc., as well as payment providers such as Sofort Banking, Paysafecard, Interac, etc., are already integrated on the platform.
It will be characterized by maximum flexibility and transparency for partners, and we believe that the era of the “black box” is over.
We also rely on a robust business intelligence platform that will help our partners get detailed data online: predicting LTV, churn rates of users, tools for VIP/CRM teams, which in our opinion are everything necessary for a successful operation.
You have offices in Malta and Cyprus, do these Mediterranean regions offer any advantages for the development of the iGaming industry, and do you have plans to expand to other places inside and outside of Europe?
We don’t stick to one place. We believe that the main key is people. We opened an office in Malta not because it was trendy and there were many experts in the iGaming field, although all of the above is true, but the main reason was that we found a strong leader, a “dux”, who led the team, opened an office, recruited people and was leading them to victory.
We are open, easy-going, and ready to open an office in any country in the world, and above all with a strong person, a leader.
Our main office is located in Cyprus where all the top management is located. A lot of cool specialists work with us remotely, once a month, for 1-2 weeks at a time, they come to Cyprus and keep in touch with the team. In our opinion, it is important to get into the team and feel the team spirit.
What are the long-term plans for DUXGroup?
It sounds corny, but we genuinely want to do something that no one else has ever done. We want to revolutionize the world of iGaming. We don’t know exactly how we’re going to do that, but we know we’re not going to stop until we’re done.
For more information about the holding company, please visit: https://duxgroup.com
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