July 24, 2023 3 min read

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Glitnor Confirms Plans to Acquire 37.5% Share in PlayStar

The strategic investment is expected to help the company continue to expand its presence in North America

The fast-growing iGaming company, Glitnor Group, which is behind the popular business-to-business brand, Swintt, announced a new investment Monday. The company revealed that it will significantly expand its footprint in the United States by acquiring a 37.5% stake in PlayStar Gaming Group. According to Glitnor, the investment will be completed over time, enabling it to strengthen its presence in the US and at the same time, help PlayStar continue to grow.

Judging by a statement released by Glitnor, the investment will be completed through its initiative that is designed to support and invest in up-and-coming businesses called Glitnor Ventures. Additionally, Glitnor confirmed that the strategic investment in PlayStar complements its growth strategy as the company anticipates further expansion in North America this year.

It was last year in August when PlayStar entered the iGaming vertical in New Jersey and quickly became a leading operator in the state. One of the primary advantages the online casino has is the unique personalized services that are available for Garden State residents, as well as a plethora of online and offline incentives and promotions. Renowned for its localized approach, PlayStar enjoys the attention of a growing number of customers in New Jersey, while surpassing targets ahead of its anniversary in the state.

Now, thanks to the strategic investment by Glitnor, PlayStar is expected to continue growing and expand its presence further in New Jersey, as well as other states. The new collaboration will see Glitnor collaborate closely with the online casino in a move that is expected to bring benefits for the duo.

The Investment Is Expected to Help PlayStar Continue Growing

Per Hellberg, PlayStar Casino’s CEO, shared his excitement about the strategic tie-up with Glitnor. He pointed out that the company is delighted to join forces with Glitnor and predicted success for the duo. In conclusion, Hellberg noted: “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 US market.”

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.

Per Hellberg, CEO at PlayStar Casino

Jörgen Nordlund, Glitnor’s co-founder, explained that the company identified PlayStar as its perfect partner for growth within the US. He explained that Glitnor’s investment in PlayStar comes after the brand’s successful launch, powered by a localized approach and unique activations. Last but not least, Hellberg said that Glitnor anticipates further growth throughout 2023.

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William Velichkov is a research-driven writer. His strengths lie in ensuring factual accuracy, vetting government documentation and reaching out to regulators and other officials. He is particularly fond of financial reporting, the sports betting industry, B2B partnerships and esports betting developments. William is a strong asset to the GamblingNews team as he adds a bedrock to our reporting.

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