Mads Peter VeibyCEO & Co-Founder of Magnet Gaming Published On: Tuesday, October 20, 2015 Views 2953


"You need to believe in your idea. Have a strong determination to succeed. Fight for what you believe in and don't take advice from people who aren't successful."

An energetic person who has a long list of startups under his name, Mads Peter Veiby, loves creating great companies that makes fantastic products. He started his career as a bank trainee and financial advisor and moved up the ranks gradually. Few years down the line, he had his first stint at entrepreneurship with lotto24 ApS. After that, it was just a flow of startups being launched. Some of them include M1 A/S, Mobile2 AB, Leikr, Mursten Aps, ParkPark A/S, CEGO, Spilnu.dk A/S and the latest Magnet Gaming.

They focus on developing and delivering the best game-play and gambling experience across all platforms in the world. As a result, they have a very high degree of customer loyalty and a higher lifetime value of the customer. He has huge plans for the future, creating more products that would be of some benefits to the society.

Please provide a brief overview of your product/ service.

I’m the CEO and Co-founder of Spilnu.dk A/S and Magnet Gaming. Spilnu is the 2nd largest online casino in Denmark and Magnet Gaming is a subsidiary where we lease our games to other casino operators abroad.

What inspired you to build the above product/ service?

From an outside perspective the online casino games seemed a bit doll. They had not evolved like the normal/casual gaming industry it was still the same old 3 or 5 wheel slot-machines. The industry was crying for a change in the way slot-machines where build. They needed to level up and add more game-play.

What is your life mantra?

Don’t work harder – work smarter.

What was the most challenging part of your journey till now?

Prior to the Spilnu and Magnet Gaming adventure I had a very successful mobile company, called M1, which I sold in 2009. Both Spilnu and M1 only issued products and services on the Danish market. With Magnet Gaming we approach the whole world so this will be challenging to be successful on the international market.

How did you overcome those challenges?

Learning by doing – we are still in the process of entering the international scene but we take it one step at a time.

Share some details about the investments that you have been able to fetch for the business till now.

We develop all of our software ourselves so we have not made any investments or M&A.

How do you protect yourself from the problem of Brain Drain?

Listen to the signals, your body sends you and take time with family and friends.

According to you, what are the three qualities an individual must have to achieve success?

Honesty, Determination and hard working.

Which online tools/ services/ apps do you use the most and would like to recommend as well?

We use slack at our office – The app works very well – Otherwise I can’t live without my Dropbox.

Share any one habit which you think makes you more productive.

Standing up at my desk instead of sitting down all day in at office chair.

Share any one habit which you wish to change in yourself.

I need to spend less time on Facebook and other social media…

Answer in less than 50 words

One tip to success:

You need to believe in your idea. Have a strong determination to succeed. Fight for what you believe in and don’t take advice from people who aren’t successful.

One mistake you believe every individual must avoid:

Thinking you can do everything by yourself and not letting your co-workers grow with the job.

One most important lesson that you have learnt till now:

Always listen to your costumers and don’t take them for granted.

What are your plans for next 3 years?

Get international success with Magnet gaming Expand Spilnu.dk even more, Finish my house designed by Bjarke Ingles BIG.

If you get a chance to start your career again what would you do differently this time?

Make sure that you start at a scalable businesses that can grow across borders.

What are your top three getaway destinations?

  • Skiing Flying in hat
  • Seat plane Race track with friends

Share a quote that inspires you the most.

“The worst a person can do is “do nothing”.  Always do something even if it is riddled with some errors.”

Inspiring Entrepreneurs

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