Online gaming operator PlayStar is planning to launch in Pennsylvania following a $15m equity investment from Meyer Global Management (MGM).
PlayStar made its US debut in New Jersey in July, and launched its app in the state in October. The company now plans on repeating the success in Pennsylvania during 2023.
Commenting on the news, PlayStar chief executive officer, Per Hellberg, said: “PlayStar is delighted to welcome Meyer Global Management as a shareholder in our business. [Meyer Global management’s] confidence in PlayStar to provide $15m to support us in a time of such economic uncertainty says a lot about PlayStar’s performance over the past few months.
Hellberg went on to say that despite a number of gaming sites being forced to cease operations over the past year, PlayStar is outperforming its forecasts and looking to expand further, with the next launch planned for Pennsylvania.
Owen E. H. Meyer, chief executive officer at Meyer Global Management reiterated confidence in PlayStar’s long-term sustainability and ability to deliver strong returns for investors.