Published
OnlineCasinoFinancial

PlayStar to receive $15m Meyer Global Management equity funding

PlayStar has executed a letter of intent with Meyer Global Management (MGM) that outlines a $15m equity investment into its future growth.

fund
Listen To Article

PlayStar noted that it has caught the attention of Meyer Global Management, with the group enjoying a ‘flying start in its five months of operations in New Jersey.’

The tech-focused investment firm has now put an eight-figure sum behind the online casino brand to fuel its growth plans. PlayStar stated that it will use the investment to support its launch in Pennsylvania next year.

“PlayStar is delighted to welcome Meyer Global Management as a shareholder in our business,” said PlayStar CEO Per Hellberg. “MGM’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.

“While several online gambling sites have been forced to cease operations in the past year, we’ve surpassed our initial forecasts and are well-positioned for further expansion. The funding from Meyer Global Management will enable us to build on this initial success as we grow our New Jersey operation and look to launch PlayStar in Pennsylvania.”

PlayStar added that MGM is focused on identifying companies at the forefront of innovation, with the latter believing that the former has the potential to grow substantially in the US.

Meyer Global Management CEO Owen E. H. Meyer commented: “Meyer Global Management is an investment firm focused on identifying innovative technology companies that have long-term sustainability to deliver strong returns for our investors.

“What we’ve seen from PlayStar since it debuted in New Jersey a few months ago is very impressive and I believe that with our support, the company has the potential to be just as popular when it goes live in Pennsylvania. PlayStar’s management is very experienced in this industry and we look forward to continued momentum in player acquisition and retention.”

Premium+ Connections
Premium
 
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Ainsworth Game Technology
Seneca Gaming Corporation
Isle of Man Gambling Supervision Commission
Gaming Inspection and Coordination Bureau (DICJ)
Follow Us

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the Lead Partner

A message from BetConstruct - Lead Partner of the Global Gam...

The year in review

The Event Manager of the Global Gaming Awards reviews the mo...

Casino Operator of the Year 2025

We present to you the 2025 Shortlist for the Casino Operator...

Facing facts: FY revenue figures reflect a turbulent '24

Who soared high and who fell behind in 2024? Gambling Inside...

Taking stock: Moving through to Q2

Gambling Insider tracks online casino operator and supplier...

Preview: This year's Global Gaming Awards Asia-Pacific and Americas

It’s that time of year once again, as the Global Gaming Aw...

Costa Rica: Effective regulation is the industry's path forward

Gambling Insider Senior Staff Writer Beth Turner spoke with...