Las Vegas-based Alternative Ventures, the boutique M&A and private equity advisory firm, has announced that it has secured a Mexican gaming license. The rationale behind the move, according to managing partner Kyle Carlston is concern within the firm about fragmentation in the US and market friction due to state lines.
He explained: “There is a lot of buzz around the US sports betting market right now. 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.”
Carlston said he was looking forward to bringing a “first-class online gaming product to Mexico in the near future”, adding that the company anticipates launching a complete iGaming solution in Mexico in the next 18 months with the intent of penetrating the Latin American market in the future.
While Mexico’s gambling waters remain typically muddy after decades of procrastination over what is and is not legal, online sports wagering does indeed have an established legal framework. As such it represents a sensible starting point for firms seeking to enter the wider LatAm region.