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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.

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“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.”

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Inspired Entertainment Partners with Aristocrat Interactive to Launch Revolutionary Online V-Lottery Gaming Suite for the Virginia Lottery

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Inspired Entertainment Inc., a leading provider of B2B gaming content and systems, has announced the extension of its partnership with global aggregation leader Aristocrat Interactive to provide the Virginia Lottery with a comprehensive suite of Inspired V-Lottery scheduled Virtual Sports games, set to transform the iLottery gaming landscape. The supply shall be made via NeoPollard Interactive LLC, jointly owned by Pollard Banknote Limited and Aristocrat Interactive.

With this partnership, the Virginia Lottery will become the first lottery in the US to offer Inspired’s online V-Lottery content, marking a significant milestone in the evolution of lottery gaming. The initial game offerings will include exciting options in virtual football, virtual basketball, and virtual horse racing, with plans for future expansion to encompass a broader range of Virtual Sports, ensuring an engaging experience for lottery players.

The V-Lottery games will be available online, allowing Virginia residents to access and enjoy these innovative gaming experiences through the Virginia Lottery website and mobile app. The target launch date for this new offer is set for mid-2025, continuing to position the Virginia Lottery at the forefront of iLottery innovation.

“We are honored to partner with Aristocrat Interactive and NeoPollard Interactive, to bring this unprecedented gaming experience to the Virginia Lottery. This collaboration showcases players’ growing appetite for engaging online lottery experiences and will provide additional funds for good causes,” said Brooks Pierce, President and CEO of Inspired.

“As a new online content provider, Inspired is contributing to the expansion of our iLottery games portfolio. The Virginia Lottery will become the first lottery in the United States to offer online Virtual Sports, supporting our strategy of attracting new players and providing fresh, exciting gameplay experiences,” said Scott Kenyon, Deputy Executive Director of Marketing at the Virginia Lottery.

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Allwyn North America Launches e-Instants in the US

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Allwyn North America announced the launch of its portfolio of top-performing games in partnership with the Michigan Lottery.

With a library of over 300 unique games, Allwyn e-Instants have proven popular in Europe, including the first game available for Michigan players – Super Cash Bolt. The successful Cash Bolt series has consistently been a top performing game for the UK National Lottery, the Irish National Lottery, and Loterie Romande in Switzerland.

“We are excited to partner with Allwyn to introduce Super Cash Bolt to Michigan lottery players. This innovative e-Instant game ushers in a new era of digital gaming with its dynamic features and immersive gameplay. We’re always looking for ways to enhance player engagement, provide convenience, and deliver exceptional entertainment, and this game reflects our commitment to offering experiences that resonate with our players,” said Suzanna Shkreli, MSL Commissioner.

The game Super Cash Bolt has been customized for the Michigan State Lottery as part of Allwyn’s content strategy, which is rooted in understanding the local market and players, and providing a diverse array of games that meet different player needs.

“We deliver tailored, immersive gaming experiences for players. We help lotteries build engagement in a digital world, by offering players what they want – an engaging experience, immersive animations, and options for short or long-form gameplay. We can’t wait to unleash the full capability of the Allwyn catalog in the US,” said Wayne Pickup, CEO of Allwyn North America.

Allwyn North America has been working in partnership with IWG to deliver its games via IWG’s InstantRGS, creating a simple and fast solution to bring games into market, and eliminating the need for additional technical development by the iLottery platform.

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Scientific Games Scores Deal with NBA for Lottery Scratch Games in US

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Scientific Games continues to light up the company’s licensed properties portfolio with another big win. National Basketball Association (NBA)-licensed instant scratch games are now available to U.S. lotteries through Scientific Games, bringing the fan-passionate brand of professional basketball to their players.

As part of the new, multi-year agreement, Scientific Games will work with U.S. lotteries to help create custom second-chance promotions and experiential prizes to amplify their NBA-themed scratch games. Lotteries can also work with local NBA teams in their states to create team-specific games through sponsorships.

The Massachusetts Lottery, perennially ranked No. 1 worldwide for instant scratch game sales, is the first to feature an NBA-branded scratcher under the Scientific Games agreement. The Lottery launched an NBA Champion Boston Celtics-themed game on November 19 with the 2024-25 NBA season in full swing. With total sales of $1.6 billion since the introduction of its first sports-themed ticket in 2006, the Mass Lottery is also ranked No. 1 in the U.S. for retail sales in this category.

“The Celtics are one of the most iconic franchises in all of sports and we are thrilled to commemorate their most recent championship with a ticket that offers their passionate fanbase the opportunity to win up to one million dollars and a variety of experiential and merchandise prizes,” said Mark William Bracken, Executive Director of the Massachusetts State Lottery.

The NBA has a rich tradition of game-changing plays, storied rivalries and team dynasties. It is the most innovative league in sports, helping drive the growth of the sport around the globe. The NBA comprises 30 teams in North America, 29 based in major U.S. cities and one in Canada.

Tina Hoover, VP Licensing for Scientific Games, said: “We are excited to welcome the NBA back into the lottery category. The NBA has a loyal and passionate fanbase, which makes the brand perfect for lottery games that appeal to players in communities across a state. Each game can be customized to a lottery’s home market. Best of all, sales from the games will benefit the lottery’s good cause programs in those same communities.”

In fiscal year 2024, licensed branded games created by Scientific Games for North American lotteries represented USD $2.6 billion in retail sales.

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