PlayUp continues to build up momentum in the US gaming market, establishing a new market access partnership with Wild Rose Entertainment in Iowa. The tie-up comes on the heels of a similar arrangement in New Jersey.
Through this partnership, PlayUp may prepare for a future launch of iGaming in the jurisdiction, giving the company a foothold in yet another important market where it can combine its expertise in sports and gaming. PlayUp already operates in Colorado and is expected to secure an official license to launch iGaming operations in New Jersey. The company already operates as a licensed operator of sports betting products in the Garden State.
Building up iGaming Footprint Is Key to Diversification
Commenting on this arrangement, PlayUp CEO Dr Laila Mintas explained the company’s motivation and focus. “At our core, we are a daily fantasy sports operator,” Mintas said. She noted that the company is Australia’s leading DFS operator, offering some of the world’s largest DFS prize pools.
Yet, this product portfolio can benefit and be diversified through controlled launches in the US. Speaking of iGaming, Dr Mintas called the vertical a key for the company’s further growth and confirmed that PlayUp would seek aggressive market access in all states that offer this gaming activity or consider offering it.
According to Goldman Sachs research, iGaming in the US may be worth $39 billion by 2033. PlayUp is not alone in this mission, as land-based partners are equally keen on adding more options to their product portfolios.
Partners Are Excited to Be Adding More Verticals
Wild Rose is equally excited to add another vertical should Iowa regulators allow it. Wild Rose Entertainment COO and president Tom Timmons had this to add:
“The gaming market and consumer demands are always changing. We are proud to have a great partner like PlayUp in our corner to maximize our potential with iGaming should it come to Iowa.”Wild Rose Entertainment COO and president Tom Timmons
In the meantime, PlayUp is not wasting time as the company has already begun the regulatory process it would need to complete in order to obtain a sports betting license in Iowa. Once iGaming becomes available, the company intends to pursue this business opportunity as well.
Dr Mintas is confident that PlayUp can help play a pivotal role in shaping regulation and assisting regulators in understanding how the iGaming market works and what the benefits of introducing it are. After its launch in Colorado, PlayUp has been building up its network of contacts across the US, looking for fresh opportunities to launch in new markets.