Glitnor Group Invests in PlayStar, Expanding into the U.S. iGaming Market
Glitnor Group, a rapidly growing and entrepreneurial player in the iGaming industry, which operates well-known brands like LuckyCasino and Swintt, has announced a strategic move to enter the U.S. market. The company will acquire a 37.5% stake in PlayStar Gaming Group (“PlayStar”) over time, signaling its ambitious growth strategy to expand into North America in 2023.
The agreement was facilitated through Glitnor Ventures, a group initiative aimed at supporting and investing in promising businesses that can benefit from Glitnor’s expertise. The partnership with PlayStar is in perfect alignment with Glitnor Group’s vision to establish a significant presence in the U.S. iGaming market.
PlayStar Gaming Group, founded by online casino pioneer Joel Wikell and led by CEO Per Hellberg, made a remarkable entrance into the New Jersey online casino scene last August. Leveraging a team of industry experts, the brand quickly gained recognition as one of the most exciting challenger brands in the market, largely due to its customer-focused approach.
At the core of PlayStar’s strategy lies a commitment to prioritize customer needs, evident in its highly personalized services offered to New Jersey residents. Exclusive online promotions and appealing offline incentives have been key elements of their success.
The brand’s localized marketing strategy resonated deeply with players in New Jersey, resulting in remarkable achievements that surpassed initial targets, making it a standout performance in its first year of operation.
Glitnor Group recognized the immense potential of PlayStar’s success and saw an opportunity to support the brand in reaching even greater heights in New Jersey and beyond. With a collaborative effort between the two entities, they are optimistic about the promising future ahead.
The strategic investment by Glitnor Group and the joint venture with PlayStar highlight the exciting prospects for both companies as they embark on their journey to strengthen their presence in the competitive U.S. iGaming market.
Jörgen Nordlund, Co-Founder at Glitnor Group, said: “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 U.S.
“Our investment in PlayStar comes off the back of an incredibly successful debut year for the brand that was characterised 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, Chief Executive Officer at PlayStar Casino, said: “PlayStar is delighted for Glitnor Group´s committed investments and we believe their 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 U.S. market.”