PlayUp expands footprint into Iowa
Online gaming market access agreement continues company’s active week.
PlayUp on Tuesday said it has secured market access for online gaming in Iowa through a partnership with Wild Rose Entertainment.
The deal comes on the heels of last week’s announcement by PlayUp that it garnered market access for sports betting in Iowa and Indiana, plus online gaming in New Jersey, all of which the company said is part of its “aggressive growth plan” in the US.
Legislative and regulatory approvals in Iowa are pending, PlayUp noted.
According to a statement from the company, the burgeoning online gaming sector is a key indicator for PlayUp’s diverse product portfolio expansion beyond its core sports betting product.
If officials in Iowa should move forward with online gaming, PlayUp said it will be poised to increase its operating footprint in the US, where it is a licensed operator in Colorado and expects to gain regulatory approval in New Jersey soon.
PlayUp cited research from earlier this year by investment bank Goldman Sachs that projected the online gaming market in the US to reach $39bn in 2033.
Officials with Wild Rose said they look forward to adding online gaming to its expanding gaming market, should regulations pass to allow it.
“The gaming market and consumer demands are always changing,” Tom Timmons, president and COO of Wild Rose Entertainment, said in a statement. “We are proud to have a great partner like PlayUp in our corner to maximize our potential with online gaming, should it come to Iowa.”
Dr. Laila Mintas, PlayUp USA CEO, added: “At our core we are a daily fantasy sports operator. We are proud of these roots and that we are Australia’s number one DFS operator and offer some of the world’s largest DFS prizes. We also view a diverse product portfolio as key to our long-term growth and stability. Online gaming is central in that diversification, and we are aggressively getting market access in all states that are offering it or will be offering it in the future.”
PlayUp already has begun the regulatory process to gain licensure in Iowa for sports betting and once the regulatory framework is in place for online gaming it will do the same, Dr Mintas said, adding the company will take an active role in helping to shape the regulations and provide input to state legislators and regulators if the opportunity presents itself.
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