In battling the impact of the Covid-19 outbreak, Jade is adjusting to the new normal because failing to respond fast could result in great losses.
Put succinctly, in the face of a pandemic, business model innovation is unavoidable. At its simplest, a business model is the way a person or a company creates, delivers and captures value.
Jade for many years has been a gaming products distributor and service provider with a pan Asian presence.
The only option was to stretch our creativity beyond the normal and grow beyond our traditional geographical and product boundaries.
In recent months, Jade has expanded its product portfolio to include artificial intelligence software from nQube and thermal access control and media management from Outabox.
Our suppliers, such as Novomatic, NRT, Sega Sammy, Synergy Blue, Game Code, Advanced Gaming and Walker Digital have all taken this time to focus on R&D and we can expect to have exceptional new products and games post Covid.
Jade has also diversified into sports betting and Jade Sportsbet will recommence operations with the opening of the Manila casinos. We will also be taking our retail Sportsbet product into new jurisdictions which will be announced soon.
We expect that the convergence of brick and mortar and internet gaming is imminent and Jade is preparing a large number of services within this area.
The virus may have also given us the rare opportunity to reflect and introspect, which could have been difficult in the usual pace of business. Pisano said that these days of the lockdown have been one of the busiest periods of his life, the number of decisions to be taken on a daily basis have increased exponentially during this time of lockdown.
Diversification and innovation will be key to Jade’s growth.