PlayUp has acquired a betting license in New Jersey and hopes to launch in the state within the first quarter of 2021.
PlayUp US Launch
Online betting and entertainment leader PlayUp has expanded its presence on the US market once again by acquiring a betting license in New Jersey. This is the company’s second US betting license that the company has acquired, the first one being its Colorado license.
PlayUp acquired the New Jersey license by signing a multi-year agreement with FR Park Racing (FRP). FRP is the sports betting certificate holder of the Freehold Racetrack and is owned by Pennwood Racing Inc.. The latter is partnered with Greenwood Racing Inc., Penn National Gaming Inc. and Parx Casino.
The New Jersey gambling market is robust, healthy and growing at a rapid pace. While the lockdown measures have taken a toll on the state’s casino industry due to the limited attendance, the New Jersey market still managed to grow by 28% year-on-year in November. This is in no small part due to the state’s openness and good handling of online sports betting, which many other states are still struggling with.
Optimistic for the Future
PlayUp has expanded its international market presence substantially over the years. The company holds licenses across multiple jurisdictions, including New Zealand, India, and Australia – its headquarters. And now, of course, the company also operates in the US.
Parx Casino Senior Vice President of Interactive Gaming and Sports Matthew Cullen said that Parx was happy to work with PlayUp and support it in its international debut in the US.
PlayUp USA CEO and Director Laila Mintas said that the company was quite excited to work with excellent companies such as Parx Casino and Penn National. Ms Mintas, who joined the company in July 2020, said that PlayUp was looking forward to making a name for itself as a strong and innovative betting brand in the US. Most importantly, Ms Mintas noted that PlayUp aims to launch in New Jersey in the first quarter of this year.
PlayUp Global CEO Daniel Simic is confident in the partnership with FRP and in PlayUp’s future in the US. He stressed that the company was building strong foundations of technology, systems and partnerships that will prime it for continued growth.