Can PlayStar Casino Become a Factor in US iGaming With Glitnor Group’s Support?

European gaming company Glitnor Group has acquired a 37.5% stake in the emerging New Jersey online casino PlayStar. This acquisition is made through Glitnor Ventures, an investment division of Glitnor Group, which operates international brands such as Swintt, LuckyCasino, and HappyCasino.

Glitnor Group cofounder Jörgen Nordlund said that the company aims to identify promising talent in the iGaming industry through Glitnor Ventures. PlayStar has a similar vision for the US online casino market.

Nordlund praised PlayStar’s successful debut year, characterized by community-focused promotions. Nordlund also hopes Glitnor’s support will enable the brand to succeed in 2023.

PlayStar Casino CEO Per Hellberg expressed delight in Glitnor Group’s investment. He added that he sees it as a reward for their remarkable first year in the New Jersey market.

With the funding and backing from Glitnor Group, Hellberg is confident that PlayStar will continue to grow and solidify its position as a preferred online casino in the thriving US market.

Glitnor’s investment marks the second financial boost in PlayStar’s short existence. Neither company specified the amount of money that changed hands. In December 2022, just months after PlayStar’s launch, the operator received a $15 million investment from Meyer Global Management.

Glitnor says it expects to increase its stake in PlayStar in the future. Its involvement could provide the necessary backing for PlayStar to establish itself as a significant operator in the US.

PlayStar Says New Jersey Launch Has Been Successful

In early 2021, PlayStar partnered with Oceans Casino Resort to enter the New Jersey market. After some delays, the operator went live in the state in August 2022.

PlayStar says it focuses on delivering unique and localized player experiences. It offers popular slots, table games, and live dealer options.

According to the company, that focus has led to PlayStar outperforming its forecasts in major key performance indicators. It operates on Ocean Casino’s license, which it shares with Parx, Tipico and Ocean’s house brand. These brands held an average of 1.5% of the New Jersey online casino market over the 12 months before PlayStar’s launch.

The average since PlayStar’s launch has been 2.5%, suggesting that it may individually hold about 1% of the market, though this depends on how the other brands have fared over the past year.

Aside from New Jersey, PlayStaplansng to expand into Pennsylvania, one of the states with the highest iGaming revenue. PlayStar also has a deal with Caesars Entertainment for future market access to Indiana.

Who Is Glitnor Group?

Glitnor Group was established in 2018 by Swedish industry veterans Dan Andersson and Jörgen Nordlund. The duo founded Maria Bingo and Maria Casino in 2005 and 2007. In 2011, they sold it to Unibet for $105 million.

Andersson and Nordlund then launched the Vera & John casino, which ranked high in Japan and Scandinavian countries. They sold Vera & John to Toronto-based Intertain Group, a Bally’s Corp. subsidiary, for $104 million.

Glitnor Group’s current brands include LuckyCasino, HappyCasino, and iGaming content creator Swintt. HappyCasino, a newer brand by Glitnor, is aimed at the Swedish market.

Meanwhile, LuckyCasino, the company’s oldest brand, launched in 2018. While unavailable in the US, it operates in multiple international markets like Sweden and Finland.

According to the company, it was one of the first casinos to use Trustly’s Pay N Play payment method. Pay N Play allows for faster registration, deposits, and withdrawals. The payment method is currently unavailable at US online casinos.

Glitnor’s business-to-business (B2B) company Swintt primarily develops real money slots. Aside from that, it offers a roulette table game and live dealer baccarat and roulette.

Glitnor’s Brands Are Performing Well in Europe

While relatively new, Glitnor’s companies are showing solid performance and growing fast. The best example is Swintt. The content provider has been in demand in Europe and has signed deals with multiple suppliers over the past few years.

Some operators offering Swint’s games include AdmiralBet, Conquestador, Fair Play Casino, JackWin, Nitro Casino, Neon Vegas, and XLbet. Swintt has also won several awards and topped the Innovation In Mobile Category at the EGR B2B Awards 2022.

Meanwhile, LuckyCasino and HappyCasino have focused on operations rather than expansion. LuckyCasino won a Rising Star award at the SBC Awards in 2021. The operator said it ranked in Sweden’s top five online casino brands that same year.

This year, the company received three nominations at the EGR Nordics Awards, including Casino Operator for LuckyCasino. The other two nominations went to the parent company, Glitnor Group, for Operator of the Year and Employer of the Year.

Can Glitnor’s Fast Rise in Europe Help PlayStar?

With Glitnor’s investment, PlayStar could finally enter the Pennsylvania market. The company has been promising to do so since 2021, shortly after it partnered with Oceans Casino Resort in New Jersey.

Although the New Jersey launch experienced some delays, the timeline for PlayStar’s entrance into Pennsylvania remains unknown. A successful launch in Pennsylvania could lead the company to look into another big market in Michigan.

The financial backing from Glitnor is one of many advantages for PlayStar. Another could be access to Swintt’s portfolio, which is not currently available at any US casinos.

Swintt could follow other European companies like Greentube and EveryMatrix and expand across the pond. A deal between PlayStar and Swintt would benefit both companies, as PlayStar would gain exclusive games while Swintt enters the US market.

Furthermore, Glitnor’s experience in achieving rapid expansion could prove invaluable for PlayStar’s aspirations.

While the European and US markets differ significantly, the guidance and strategies from Glitnor’s playbook may provide essential insights and steps toward achieving both companies’ shared goal of successful expansion in the US.

About the Author

Chav Vasilev

Chav Vasilev

After years of managing fast-casual restaurants, Chav turned his passion for sports and occasional slot wins into a career as an iGaming writer. Sharing his time between Europe and the US, he has been exposed to betting and gambling for years and has closely followed the growth in the US. Chav is a proponent of playing responsibly and playing only at legal online sites. When not writing, you will find him watching and betting on sports, especially soccer, or trying to land the next big bonus on a slot.
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