Glitnor Group is looking to make significant progress on lofty North American ambitions after detailing the acquisition of a 37.5 per cent stake in PlayStar Gaming Group.
Undertaken via the firm’s venture capital vehicle, named Glitnor Ventures, which was established in November 2022, the company is aiming to enable the brand to soar to “even greater heights” across the US’ igaming ecosystem and beyond.
PlayStar, launched in New Jersey during August of last year, and Glitnor, which boasts LuckyCasino and Swintt among its primary B2C and B2B brands, will collaborate in a bid to achieve “incredibly high hopes for going forward”.
“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,” commented Jörgen Nordlund, Co-Founder at Glitnor Group.
“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.”
Launched by Chair Joel Wikell and spearheaded by CEO Per Hellberg, PlayStar debuted in the Garden State via a personalised service that included exclusive online promotions and offline incentives.
Following what was hailed as a “truly remarkable first year,” this latest funding follows an eight-figure equity investment from Meyer Global Management in a bid to aid future growth and continue ongoing US expansion efforts.
“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,” Hellberg said.
“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.”