Glitnor Group sets out to acquire 37.5% in PlayStar

Glitnor Group, a prominent investor in the gambling industry whose portfolio includes respected and established brands such as Swintt and LuckyCasino, has confirmed that it is looking to acquire a 37.5% stake in PlayStar.

The acquisition of the stake should happen "over time" and it is a further commitment on behalf of Glitnor Group to the gambling sector in the United States and North America. This new deal has been negotiated through Glitnor Ventures, an entity set up to help Glitnor Group execute strategic investments and business opportunities linked to the group’s long-term sustainability in the sector.

The acquisition of a significant stake in PlayStar also aligns well with Glitnor Group’s ambition to grow in the North American iGaming market over the coming months. PlayStar is too a fairly new entity in the market, having launched in New Jersey, the United States in August2022, and has since established itself as one of the go-to options for online casino players in the Garden State.

Commenting on this new opportunity to acquire a significant stake in the operator, Glitnor Group Co-Founder Jörgen Nordlund said that the latest move was precisely what his company has been trying to achieve with Glitnor Ventures – identify and back up-and-coming talent in the industry.

"We believe we’ve identified the perfect partner in the US," Nordlund said. He congratulated the company for its strong first year of operation and said that with backing from Glitnor Group, PlayStar would be able to go on and achieve even bigger and more significant results in 2023.

PlayStar Casino CEO Per Hellberg was similarly pleased with the opportunity to see his company receive backing from an established and respected stakeholder in the sector. Hellberg too hailed the significance of the significant first year of operation in New Jersey and added that Glitnor Group’s interest in his company was a fitting reward.

The investment from Glitnor Group would now significantly strengthen PlayStar’s operational capacity in 2023 and well beyond that. At the same time, PlayStar will continue to seek and establish itself as the preferred casino in the US market, which has been evolving and expanding rapidly over the past several months.

Glitnor Group remains committed to its own regional growth which will now be facilitated by this significant move with PlayStar.

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