Gurhan Kiziloz shifted from fintech to gaming due to what he described as excessive regulation and red tape in the financial technology sector. The Turkish-British entrepreneur stated in an interview with Gulf News that fintech is built to protect monopolies, with everything designed to slow down new entrants.
Kiziloz previously founded Lanistar, a fintech venture where he sought venture capital funding. When venture capitalists rejected his funding requests, citing his history of approximately five bankruptcies, he shifted focus from financial technology to the gaming sector.
The entrepreneur stated that gaming is simpler than fintech, requiring licensing, funding, and execution without the regulatory complexity that characterizes financial technology. He indicated that obtaining a gaming licence, securing funding, and executing operations represent a more straightforward path than navigating fintech regulation.
Nexus International, the gaming company Kiziloz founded after leaving fintech, generated $1.2 billion in revenue for 2025. The company operates Spartans.com, Megaposta, and Lanistar under a parent structure. Kiziloz maintains 100% ownership without external investors.
Kiziloz stated that fintech has too much regulation and too many blockers that impede operational execution. This regulatory environment contrasts with gaming, where he identified clearer frameworks for licensed operations across multiple jurisdictions.
The sector shift occurred after Kiziloz concluded that financial technology regulation creates barriers protecting existing market participants rather than enabling new entrants. He stated that the regulatory structure in fintech is designed to slow down companies rather than facilitate innovation.
Spartans.com competes against established gaming operators, including bet365 and Stake in the online casino market. The platform focuses exclusively on casino gaming and has contributed to Nexus International’s $1.2 billion revenue. Kiziloz committed $200 million to Spartans.com expansion from accumulated earnings.
Kiziloz’s personal net worth stands at $1.7 billion, derived from his complete ownership of Nexus International. This wealth was accumulated through gaming operations rather than his previous fintech ventures. He noted that most of this net worth exists in non-liquid form.
The online casino market was valued at $19.11 billion in 2024 and is projected to reach $38 billion by 2030. Kiziloz operates in this expanding market through Nexus International’s platforms, having left fintech regulation behind for what he characterized as simpler gaming frameworks.
The entrepreneur funds Nexus International through retained earnings rather than venture capital. After venture capitalists rejected his Lanistar funding requests, he stated that he decided to become his own venture capitalist, funding operations independently.
Kiziloz indicated that Nexus International will not consider external capital unless offers exceed one billion dollars in fully liquid form. This position reflects his preference for independence over external funding, developed partly through his experience seeking venture capital for Lanistar in the fintech sector.
The shift from fintech to gaming enabled Kiziloz to build operations generating $1.2 billion in annual revenue. He stated that gaming’s regulatory simplicity compared to fintech allowed faster execution and operational development than would have been possible in financial technology.
