Italy has been important to Habanero – has the revamping of that iGaming market gone the way you expected, or have there been road bumps that surprised you?

Italy has been fundamental for us for many years, so we have followed the revamp very closely. Broadly speaking, the direction has not really been surprising. Greater regulation, consolidation and a stronger focus on sustainability were already part of the market’s trajectory, and in many ways this is simply the next phase of a very mature market continuing to evolve.

Naturally, there have been some delays and moments of friction as the new framework settles, but that is typical of a market of this size and history. Italy has a very established player base and a strong retail heritage, so any structural change takes time to filter through properly. What we are seeing now is a market that is becoming more streamlined and more clearly structured, with larger operators and a growing emphasis on multichannel thinking.

For us, Italy remains highly engaged and commercially significant. It is where players treat gaming very much as entertainment, and where long-term partnerships with operators really matter. Our approach has always been to move in step with the market rather than react to short-term noise, and that mindset continues to serve us well as the new framework beds in.

Security and compliance are necessarily large parts of your games and solutions, but do you foresee them becoming increasingly tied to growth and success throughout 2026?

Yes – and that link is already becoming more visible. As more jurisdictions regulate and frameworks tighten, compliance and security are not simply operational necessities, they become growth enablers. Operators are looking for partners who can meet regulatory standards efficiently and consistently across multiple markets. In a more consolidated environment, that reliability builds trust and long-term relationships. Now we are in 2026, I believe that the ability to combine strong content with strong compliance will be increasingly decisive.

You’ve made inroads in various South American markets, Peru, Colombia, Argentina and of course Brazil. Where do you feel in LatAm Habanero is best placed to make rapid strides forward relative to the size of the market?

Brazil is clearly the market with the greatest long-term opportunity due to its sheer scale, but it is also the most complex and competitive. If we look at rapid strides relative to market size, Colombia and Peru remain very efficient environments. They are regulated, commercially active and familiar to us, which allows growth to build in a steady and structured way. Argentina is also interesting, although its provincial structure requires a slightly more segmented approach. Brazil is about long-term positioning and growing alongside the market as it matures, whereas some of the other LatAm jurisdictions allow for faster consolidation of gains in the short term.

In Brazil, regulation and the cultural conversation is moving very quickly – how do you stay operationally alert and flexible to deal with unpredictable regulatory shifts?

Brazil is evolving at pace, both legally and culturally, so flexibility is essential. We have always operated with a modular compliance and localisation framework, which makes adapting to new requirements far more manageable. That technical flexibility is one part of it. The other is staying close to partners and maintaining constant dialogue within the market. When a jurisdiction is still shaping itself, you need to understand not only what the rules are, but where the direction of travel is heading. In my opinion, being prepared for that evolution really is just as essential as reacting.

Which markets do you think will surprise people in 2026 and why?

Sometimes the markets that surprise people are not the largest, but the most stable. Certain regulated markets in LatAm or the Balkans for example may continue to outperform expectations because they stem from established cultures, offer commercial consistency,and clear frameworks. North America is also still evolving. It remains competitive, but structurally it is relatively young and there is space for steady, sustainable growth for suppliers willing to adapt carefully to each jurisdiction. It is often the biggest surprises that come from markets when they grow quietly but consistently.

This year, will your focus be more on innovating or on refining the products and solutions you already offer?

It will always be a balance, but this year the emphasis is slightly more on refinement and consistent delivery, in truth. Innovation remains central to what we do, particularly around engagement and entertainment value, but in a more regulated and consolidated industry, execution is what becomes even more important. Building on products and solutions that are already performing well – and ensuring they are delivered effectively across multiple markets – holds just as much value as launching something entirely new.