Glitnor Group to acquire stake in US operator PlayStar24th July 2023 9:53 am GMT
Malta-based iGaming operator and games provider Glitnor Group is set to expand its business with the proposed acquisition of a minority stake in US operator PlayStar Gaming.
Accelerating its plans to enter North America, Glitnor has agreed a deal to acquire a 37.5 per cent stake in PlayStar through its Glitnor Ventures division for an undisclosed amount.
“Through our investment work with Glitnor Ventures, Glitnor Group aims to identify the best up-and-coming talent the iGaming industry has to offer - and in PlayStar, we believe we’ve identified the perfect partner in the US,” said Glitnor Group co-founder Jörgen Nordlund.
“Our investment in PlayStar comes off the back of an incredibly successful debut year for the brand that was characterised by an extensive range of locally-specific, community-focused promotions and we hope with our backing, they can go on to achieve bigger and better things in 2023.”
PlayStar first launched in the United States in New Jersey last August, and also has agreements in place to launch in Pennsylvania, Indiana and Colorado.
“PlayStar is delighted for Glitnor Group´s committed investments and we believe their ongoing interest in our brand is a fitting reward for what has been a remarkable debut year for us in the New Jersey market,” said PlayStar CEO Per Hellberg.
“With Glitnor Group’s funding and support behind us, I’m sure PlayStar will go from strength to strength in 2023 and beyond, enabling us to further cement our position as the preferred online casino in the thriving US market.”
Glitnor currently operates B2C brands including LuckyCasino and HappyCasino, and also owns B2B gaming supplier Swintt.