Glitnor Group Acquires Stake in PlayStar, Eyes US Market

Strategic Acquisition: Glitnor Buys 37.5% of PlayStar

In a significant development, Glitnor Group has acquired a 37.5% stake in the New Jersey-based iGaming operator, PlayStar. The deal, whose financial details remain undisclosed, was facilitated by Glitnor Ventures, a wing of the Glitnor Group specifically established for such strategic investments.

PlayStar, a promising name in the iGaming industry, was founded by Chairman Joel Wikell. The company had previously attracted a substantial equity investment of $15m in December 2022, further signaling its strong market potential.

Leadership Shuffles: Gaming Innovation Group CEO Joins Glitnor

Adding to the intrigue, Richard Brown, the current CEO of Gaming Innovation Group, one of the biggest online casino operators, is set to join Glitnor as its new CEO from January 2024. Brown’s move to Glitnor Group, coupled with the acquisition of PlayStar, indicates a robust growth plan for the company.

Expansion Plans: PlayStar Targets North American Market

With this strategic partnership, PlayStar aims to broaden its horizons across North America, including Pennsylvania. The deal is expected to provide the necessary impetus for PlayStar to achieve greater success and consolidate its position in the burgeoning US market.

This acquisition marks a significant milestone for Glitnor Group, as it expands its global footprint and establishes a presence in the rapidly growing US iGaming sphere. It will be interesting to observe how this strategic alliance unfolds and what it means for the future of online gaming in North America.