M&A: Glitnor Group expands to the U.S. through PlayStar acquisition

Malta-based Glitnor Group, known for brands such as LuckyCasino and Swintt, is to acquire 37.5 percent of PlayStar Gaming Group in a strategic move to expand into the US market.

PlayStar Gaming Group, founded by Joel Wikell, a veteran in the online casino industry, and headed by CEO Per Hellberg and a team of gaming experts and professionals, broke into the New Jersey online casino scene in August last year. The brand quickly rose to prominence as one of the most exciting challenger brands in the market, largely due to its consumer-focused approach.

The deal was made through Glitnor Ventures, an initiative aimed at supporting and investing in promising businesses. It fits in perfectly with Glitnor Group’s ambitious growth strategy to expand into North America.

Playstar has a customer-centric approach

At the core of PlayStar’s success lies its commitment to placing customers at the center of its strategy. The brand’s New Jersey launch was marked by highly personalized services, exclusive online promotions, and attractive offline incentives tailored specifically to create an exceptional user-experience. This unique localized marketing approach struck a chord with players, resulting in remarkable success that exceeded expectations during its first year in operation.

Glitnor Group, recognizing PlayStar’s impressive achievements and its potential , will now work in collaboration with the brand with a goal to break into new markets in New Jersey and beyond.

Jörgen Nordlund, Co-Founder at Glitnor Group, shared the company’s vision to invest in emerging talents within the iGaming industry. He added that PlayStar emerged as the perfect partner for the company’s endeavors in North America. He praised PlayStar’s accomplishments and firmly believes that, with Glitnor’s support, the company will achieve even greater milestones in 2023 and beyond.

Per Hellberg, CEO at PlayStar Casino, expressed delight at Glitnor Group’s investment. He said that this deal is a fitting reward for the company’s remarkable debut year in the New Jersey market. With the backing and funding from Glitnor Group, Hellberg  said that is confident that PlayStar will continue to thrive and solidify its position as the preferred online casino in the flourishing U.S. market.

This strategic partnership signifies an exciting chapter in Glitnor Group’s expansion plans, and it further cements the brand’s reputation as a major player in the fast-evolving iGaming landscape. Investors and industry experts will be watching the progress of this alliance as Glitnor and PlayStar strive to make a significant impact on the lucrative American gambling market.

M&A Appetite

Having marked a successful first half of 2023, Glintnor Group is relocating its head office from Villino Zammit to the prestigious Tigné Point in Sliema, Malta.The timing of this relocation comes as Glitnor Group embarks on the next phase of its expansion under the leadership of its newly appointed CEO, Richard Brown. Chief People Officer at Glitnor Group, Cathryn McGinty, said that she considers the move as  a reflection of the company’s remarkable journey in recent years.

The company’s appetite for M&A remains strong with further plans in the pipeline for expansion and growth throughout 2023

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