Summary:
This thesis studies the internationalization process of Greek gambling firms. The study aims to explore why and how Greek gambling firms attempt to enter foreign markets via partnering or direct investment, and which factors are driving their internationalization strategies and efforts. Another primary research objective is to investigate factors that can be crucial in order for the market entry to be successful. A secondary research objective is to understand the potential risks associated with market entry and how firms tend to cope with them.
The study is founded upon a review of the literature on internationalization, market entry, international entrepreneurship and international business. Key theories and models are discussed, to gain an understanding of the literature and its various elements. Furthermore, key success factors of market entry are derived from the literature and discussed as well.
The empirical part of the thesis was conducted as a multiple case study, focusing on two firms from Greece that are operating in the international gambling market, which is going through an extensive transformation process for the last decade. The empirical data were collected via semi-structured interviews on executives of the two firms, who currently are or have been involved in decision-making processes regarding internationalization, choice of expansion mode, selection of local partners etc. The data are analyzed in a way that can offer insights on how each firm approaches the issue of internationalization, and in order to identify similarities and differences between them.
The findings indicate that the main driver for the international expansion of the case firms is the exploitation of market opportunities. The two firms are carefully designing the plans for market entry, considering the complexity of gambling regulatory frameworks, and are making use of local entities to aid in the preparation and execution of the market entry.
