Following fresh leadership, a brand evolution, and a new supervisory board, Parimatch Tech has flagged its intention to go head to head with the largest gaming companies across the globe. The company’s co-CEOs, Roman Syrotian and Maksym Liashko, spoke to Casino Review about how the Parimatch Tech is now on its way to becoming a top five global company in the industry, with its sights firmly set on further expansion and a future public listing.
Casino Review: Over the summer, Parimatch officially became Parimatch Tech. It’s only four letters, but how important is this name change in signaling to the world that the company has become something very different from when it began as a bookmaker in 1994?
Roman Syrotian, co-CEO of Parimatch Tech: This decision was dictated by time. The technical component of any business is now fundamental. Becoming Parimatch Tech is a natural step for us as a company, and formalizes and reflects our technological transformation. It is a sign of the maturity of our company internally, and we are pleased to share this news with both the public and our partners.
While there are many challenges laying before our industry and ambitious targets for us to meet, Parimatch Tech is confident in its ability to continue to modernise and improve the gaming and entertainment industry across the world. With currently over 2.6 million active users the Parimatch Tech platform is one of the fastest growing in Europe. Our IT staff numbers 500, with around 250 working on the development team.
Casino Review: The company has also recently to set-up a supervisory board. How do you expect the board to improve the way in which Parimatch Tech moves forward?
Maksym Liashko, co-CEO of Parimatch: The company is developing rapidly and the creation of a supervisory board is a strengthening of the strategic part of the business. The so-called Helicopter view.
We believe that the new structure will strengthen Parimatch tech position and allow it to continue the growth that has seen it become one of the biggest technology companies in Europe.
Casino Review: Along with the board, Parimatch Tech now has co-CEOs. How important is a good working relationship between both the new co-CEOs?
Roman Syrotian: We have been working with each other for a long time. This is a close-knit team that sometimes has different points of view, but knows how to find joint best solutions. In addition, we have separate areas of responsibility and our expertise complements each other.
Casino Review: What are the major opportunities and challenges that Parimatch Tech’s leadership expects to face in the coming years?
Maksym Liashko: Our three main goals are to continue technological transformation and product improvement, global expansion of new markets and become a public company. We are on our way to becoming one of the top five global companies in the industry.
As a company that is always looking to the future for areas to improve the user experience, and stay a step ahead of our competitors, we feel that our unique market approach is an important point of differentiation as we establish ourselves as serious global contenders in both the gaming and entertainment, and technology space. In this case, we will develop the franchise and help partners to promote the brand in new markets using our solutions.
Casino Review: Should the market expect any sharp changes in direction for Parimatch Tech as a result of the change in name and leadership, or will the new co-CEOs be driving the company towards the same goals as former CEO, and now Chairman, Sergey Portnov?
Roman Syrotian: Our main business goal is, perhaps, to maintain a high level of the company and increase its achievements, since at the moment the economic indicators of our marketing measurements are very good. We will continue the process of technological transformation and strengthen the expansion of new markets.