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PlayStar to receive $15 million in equity funding from Meyer Global Management

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PlayStar to receive $15 million in equity funding from Meyer Global Management

 

Tech-focused investment fund executes letter of intent as anchor investor to provide up-and-coming online casino brand with significant cash injection supporting further U.S. growth

The ongoing U.S. expansion plans of PlayStar Gaming Group AB have been bolstered by news that the Company has executed a letter of intent with Meyer Global Management, LLC (MGM) that outlines a $15 million equity investment into its future growth.

One of the newest online gambling operators in the United States, PlayStar has made a flying start in its five months of operations in New Jersey by exceeding all major KPI forecasts and already competing against notable peers in this market.

Having set out to provide an online casino experience with a heavy focus on personalization and player engagement, PlayStar is already on the road to achieving its mission by leveraging real-time data to create tailor-made player journeys through predictive modelling.

With strong performance since launch and a brand that stands out against the competition, PlayStar has caught the attention of Meyer Global Management, with the tech-focused investment firm putting its weight behind PlayStar in its endeavours by investing an eight-figure sum to fuel the Company’s growth plans.

Meyer Global Management is focused on identifying companies at the forefront of innovation and believes PlayStar has the potential to grow substantially in the U.S. – something which MGM’s investment will expedite. With PlayStar currently looking to expand its operations, the Company will also use this investment to support its launch in Pennsylvania next year.

Per Hellberg, Chief Executive Officer at PlayStar, said, “PlayStar is delighted to welcome Meyer Global Management as a shareholder in our business. MGM’s confidence in PlayStar to provide $15 million to support us in a time of such economic uncertainty says a lot about PlayStar’s performance over the past few months.

“While several online gambling sites have been forced to cease operations in the past year, we’ve surpassed our initial forecasts and are well-positioned for further expansion. The funding from Meyer Global Management will enable us to build on this initial success as we grow our New Jersey operation and look to launch PlayStar in Pennsylvania.”

Owen E. H. Meyer, Chief Executive Officer at Meyer Global Management, LLC, said “Meyer Global Management is an investment firm focused on identifying innovative technology companies that have long-term sustainability to deliver strong returns for our investors.

“What we’ve seen from PlayStar since it debuted in New Jersey a few months ago is very impressive and I believe that with our support, the Company has the potential to be just as popular when it goes live in Pennsylvania. PlayStar’s management is very experienced in this industry and we look forward to continued momentum in player acquisition and retention.”

Gambling in the USA

Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania

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Kambi Group plc (“Kambi”), the world’s trusted sports betting partner, has agreed a long-term on-property sportsbook partnership with Mohegan to provide its award-winning sportsbook at two retail locations in the state of Pennsylvania.

The partnership will see Mohegan utilise Kambi’s cutting-edge retail sportsbook offering across more than 20 kiosks in sportsbook locations at Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook.

The deal further strengthens Kambi’s relationship with Mohegan, which already utilises Kambi’s suite of sports betting products at ilani in Washington, as well as online and on-property in the Canadian province of Ontario at Fallsview Casino Resort and Casino Niagara.

Kristian Nylén, Kambi CEO and Co-founder, said: “With several successful partnerships with Mohegan already in place, we are pleased to agree this new partnership as we continue to build on our strong relationship.

“This latest deal further reinforces Kambi’s position as the sportsbook provider of choice for tribes across North America, and we look forward to our ongoing collaboration with Mohegan.”

Tony Carlucci, President & GM of Mohegan Pennsylvania, said: “Mohegan Pennsylvania is excited to continue utilising the same Kambi technology platform that existed under our Kindred partnership, which will help to create a seamless process as the Sportsbook at Mohegan Pennsylvania fully rebrands later this Spring.”

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Gambling in the USA

Playstar Casino partners with Fast Track to accelerate growth in US market

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Fast Track, the leading provider of player engagement solutions to the online gaming industry, is proud to announce its latest partnership with Playstar Casino, a leading online casino licensed and operating exclusively in the Garden State of New Jersey.

 

Fast Track, the leading provider of player engagement solutions to the online gaming industry, is proud to announce its latest partnership with Playstar Casino, a leading online casino licensed and operating exclusively in the Garden State of New Jersey.

Playstar Casino is renowned for its relentless focus and passion for providing the best player experiences in the market. Understanding this need as core to future success, Playstar sought a partner capable of delivering unparalleled solutions to enhance player engagement through AI-powered customer journeys and build 1:1 experiences at scale for each player and found Fast Track.

Using advanced AI, machine learning and real-time data insights, Fast Track provides the ideal solution to streamline operations and amplify player engagement, enabling Playstar to execute its strategy at scale and increase productivity.

Jon Bowden, Chief Marketing Officer of Playstar Casino, expressed his confidence in their choice, stating, “At Playstar, the player experience is paramount. Fast Track was the obvious choice for us due to their commitment to supporting our growth goals. We’re keen to automate the bulk of our strategy and work with the most advanced technology for personalization and modeling.

Jean-Luc Ferrière, Managing Director Americas at Fast Track, echoed this sentiment, remarking, “It’s always exciting for us to partner with an operator so dedicated to offering an unparalleled player experience. The team is very keen to start collaborating with Playstar to help them achieve and exceed their business objectives.”

The partnership between Fast Track and Playstar Casino marks an exciting chapter for both organizations as they work together to elevate player experiences and drive sustainable growth in the US online gaming market.

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Gambling in the USA

Boldplay™ to make U.S. debut after signing exclusive partnership deal with BetMGM

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The new partnership will see Boldplay’s extensive collection of innovative video slots, table games, virtual scratch and keno titles become available to customers in the U.S. market for the very first time, enabling countless players to experience the brand’s signature range of bonus features and jackpots.

 

Boldplay™, the casino software supplier, has announced its much-anticipated U.S. debut after teaming up with BetMGM, a leading iGaming and sports betting operator, and providing its first set of games Cyborg City, Toro Bravo™, and Gold Metal Ox™.

The new partnership will see Boldplay’s extensive collection of innovative video slots, table games, virtual scratch and keno titles become available to customers in the U.S. market for the very first time, enabling countless players to experience the brand’s signature range of bonus features and jackpots.

Notable highlights to come out of the studio include Boldplay Spins™ – a unique twist on Free Spins that sees the reels spin both vertically and horizontally to create more winning pay lines – and the brand’s flagship jackpot, the Boldplay Superpot™, which gives players of all bankroll levels a chance to win big.

The exclusive nature of the deal will also see BetMGM gain a significant market advantage in the U.S., where it will initially be the only platform able to offer Boldplay™ games. Given these titles have already garnered plenty of critical acclaim from players and operators across Europe, their presence at BetMGM will be a huge draw and will help the platform further enhance its standing in the industry.

This latest collaboration represents another significant step in Boldplay’s evolution from up-and-coming studio to one of the industry’s most sought-after software providers and will allow the brand to extend its reach into new regulated markets – a move CEO, Valli Fragoso, is clearly optimistic about.

“Boldplay™ is thrilled to announce that we’re teaming up with BetMGM in an exclusive partnership that will see our games be made available in the U.S. for the very first time,” she said. “By joining forces with such a prestigious operator, we’ll be able to raise the profile of our brand in the country as we continue to expand and we’re looking forward to what should be a hugely successful collaboration.”

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