Meyer Global Management (MGM) has invested $15 million in equity for PlayStar Gaming Group AB. The investment will support PlayStar’s expansion into the US market, including its planned launch in Pennsylvania next year.
PlayStar, which recently launched in New Jersey, exceeded its major performance targets in the five months since it went live. Naturally, it has caught the attention of MGM, which is focused on supporting innovative gaming brands.
New shareholders welcome – PlayStar
Per Hellberg, CEO of 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.”
Owen E. H. Meyer, CEO of MGM, 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.”