Glitnor Group to acquire 37.5% stake in PlayStar
Deal forms part of Glitnor Group’s plan to break into the US.
Glitnor Group will be making its way into the US market after acquiring a 37.5% share of PlayStar Gaming Group.
The acquisition, however, will not take effect immediately. The new deal was agreed via Glitnor Ventures – an initiative set up to support and invest in up-and-coming businesses – and it comes with a motive to break into the US market, specifically North America, in 2023.
Glitnor Group recognized Playstar’s efforts with its localized marketing approach, which it says proved effective in New Jersey; since the company also surpassed targets, Glitnor Group decided it wanted a piece of the action.
Jörgen Nordlund, Co-Founder at Glitnor Group, commented, “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.
“Our investment in PlayStar comes off the back of an incredibly successful debut year for the brand that was characterized 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.”
Per Hellberg, PlayStar Casino CEO, said, “PlayStar is delighted for Glitnor Group´s committed investments and we believe its ongoing interest in our brand is a fitting reward for what has been a remarkable debut year for us in the New Jersey market.
“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.”
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