Alternative Ventures has secured a Mexican gaming licence, in a strategic move to position itself as a bridge between the regulated markets of the US and Latin America.
The Las Vegas-based mergers, acquisitions and private equity advisory company announced the award on 11 October, citing the growth potential of the wider American market.
“There is a lot of buzz around the US sports betting market right now,” said managing partner Kyle Carlston. “Our current investment strategy in the US is limited to North American sports betting platform development and B2B customer acquisition technology.”
“Alternative Ventures prefers the operating opportunity presented by the Mexican market which has an established legal framework and is the bridge between North America and Latin America.”
The decision follows concerns expressed by the company of “fragmentation in the US, and market friction” as individual states agree varying levels of regulation post-PASPA.
Though the Mexican gaming industry suffers from governmental indecision over the legal parameters of online gambling, sports betting is permitted nationwide under the Federal Games and Draws Law.
The Mexican market therefore provides US operators with a viable regulated market through which to enter the wider Latin American region.
Carlton stated that Alternative Ventures will aim to provide a “first-class online gaming product to Mexico in the near future,” with a complete iGaming solution expected to be launched in the country before Q220.
The firm added in a statement that Mexican market entry forms the foundations for “penetrating the Latin American market in the future.”