In the second part of Social Casino Intelligence’s interview with BitRhymes co-founder and chief executive Sumit Gupta, he looks to the future, and the possibility of real-money gambling – or even selling the business.
Of course, in the social casino sector nothing stays still – despite having better traction than many other sub-sectors of social gaming, companies can rise and fall in a matter of months. With this in mind, how does Gupta plan to maintain the momentum Bingo Bash has been able to build so far?
Plans are afoot to develop, improve and enhance games mechanics – it’d be difficult to expect less of any CEO with a background in technology innovation. Interestingly, Gupta also has plans to launch further social titles. But already anticipating the next big step, he has plans to shift the direction of the business once more – a move that would see BitRhymes become a real-money gambling operator.
“We are actively talking to potential partners in that space,” he reveals, “but our primary focus is on growing our dominance on the social mobile platform. That’s what we know best and very few know how to leverage the massive opportunity.”
Although he claims that the focus remains social, it is clear that Gupta has researched the potential for a real-money offering thoroughly.
“I think it is very important to start a dialogue and learn from each other. Although the underlying game mechanics are similar, the value propositions are not. There are many questions. Will the same user who is paying for entertainment want to play for real money? How will mechanics change? How will that impact current whales? But there is a sweet intersection spot which is a green field of opportunity.
“Given the amount of liquidity of users we have, it’s an area we want to explore, but we have to be careful given the regulatory requirements and impact on current revenue stream,” he finishes.
While his enthusiasm for his job and the company’s growth comes across as infectious, it is clear that Gupta remains realistic about the challenges that lie ahead. He admits that he would not have such confidence that BitRhymes will succeed without the team he, Vikas Gupta and Lalit Patel have built.
“[Launching a real-money offering] is easier said than done. We have assembled one of the best teams in the world. If there was a team I had to bet on, I would bet on this team to deliver,” he says.
And what of selling the business? After all, Gupta has form in this department – the majority of the start-ups he had worked on were eventually sold to larger companies for significant amounts. But his answer, while not dispelling any suggestion of a sale, does suggest that there is enough potential for growth and new projects to pursue to keep him interested: “There are huge opportunities, and my team wants to be part of that growth story. We are currently focused on business growth,” he replies.
Gupta’s enthusiasm for looking at new ways of doing things and embracing new technologies is clearly a direct consequence of years spent working on start-ups. As he prepares to potentially embark on a foray into the real-money gambling sector, it’s clear that a sale is far from his mind. Having created a number of businesses before selling them to the industry leaders, Gupta is no longer content to create a service of interest to these companies – he wants to create one himself: “We are laser focused on building a billion-dollar casino game franchise.”