PlayUp, which provides online sports betting, horse racing and daily fantasy sports in Australia, New Zealand and India, on Tuesday said it has acquired a betting license in New Jersey.
The company is expanding its US footprint, having recently received a market access agreement in Colorado.
As part of obtaining its license in New Jersey, PlayUp signed a multi-year deal with FR Park Racing, LP (FRP), which is the sports wagering certificate holder and operator of the Freehold Racetrack. FRP is owned by Pennwood Racing, Inc., which in turn is partnered with Greenwood Racing, Inc., Penn National Gaming, Inc. and Parx Casino.
PlayUp noted New Jersey is one of the booming markets for sports betting, citing an Eilers & Krejcik Gaming report that found the Garden State’s residents wagered $361m on sports for the year ending November 2020, 28% growth from the previous year.
The company has been expanding since 2018, when it acquired several betting platforms. It launched the PlayUp Sports and Racing Global Betting brand in 2019. The company has more than 300,000 users in Australia.
Laila Mintas, PlayUp USA CEO, said the company is working to launch in New Jersey in the first quarter of this year.
“We are very excited about the partnership with two excellent brands, Parx Casino and Penn National,” Mintas said in a statement.
“Parx Casino is happy to partner with PlayUp in New Jersey as they debut their international expertise of online sports betting in the United States,” added Matthew Cullen, Parx’ senior VP of interactive gaming and sports.
Daniel Simic, Global PlayUp CEO, added, “We are building strong foundations of technology, systems and partnerships, which will enable us to pursue our plans for rapid growth.”
