PlayStar to receive $15m investment from Meyer Global Management

Finance News

PlayStar have been bolstered with a letter of intent with Meyer Global Management, LLC (MGM) that outlines a $15 million equity investment into its future growth.

One of the newest online gambling operators in the United States, PlayStar has made a flying start in its five months of operations in New Jersey by exceeding all major KPI forecasts and already competing against notable peers in this market.

Having set out to provide an online casino experience with a heavy focus on personalization and player engagement, PlayStar is already on the road to achieving its mission by leveraging real-time data to create tailor-made player journeys through predictive modelling.

With strong performance since launch and a brand that stands out against the competition, PlayStar has caught the attention of Meyer Global Management, with the tech-focused investment firm putting its weight behind PlayStar in its endeavours by investing an eight-figure sum to fuel the Company’s growth plans.

Meyer Global Management is focused on identifying companies at the forefront of innovation and believes PlayStar has the potential to grow substantially in the U.S. – something which MGM’s investment will expedite. With PlayStar currently looking to expand its operations, the Company will also use this investment to support its launch in Pennsylvania next year.

Per Hellberg, Chief Executive Officer at PlayStar, said, “PlayStar is delighted to welcome Meyer Global Management as a shareholder in our business. MGM’s confidence in PlayStar to provide $15 million to support us in a time of such economic uncertainty says a lot about PlayStar’s performance over the past few months.