PlayUp Successfully Secures Sports Betting License in New Jersey
- PlayUp secures betting license in New Jersey
- The company's 2nd license acquisition in the US
- New Jersey market worth over $361 million per annum
This is the second market access agreement that PlayUp has announced after the recent acquisition of their Colorado license.
The New Jersey state has a population of just under 9 million people and $361 million was wagered on sports betting for the year ending November 2020, a 28% growth from the previous year*.
To gain the license PlayUp signed a multi-year deal with FR Park Racing, LP (FRP) which is the sports wagering certificate holder and operator of the Freehold Racetrack. FRP is owned by Pennwood Racing, Inc. (Pennwood), and the ultimate 50/50 partners of Pennwood are Greenwood Racing Inc, Penn National Gaming, Inc. and Parx Casino.
"Parx Casino is happy to partner with PlayUp in New Jersey as they debut their international expertise of online sports betting in the United States," said Matthew Cullen, Parx' Senior Vice President of Interactive Gaming and Sports.
Dr Laila Mintas, PlayUp USA CEO stated "We are very excited about the partnership with two excellent brands - Parx Casino and Penn National. We are looking forward to establishing PlayUp as a strong and innovative sports betting brand in the U.S. We are working to launch in New Jersey in the first quarter of this year".
Daniel Simic, Global PlayUp CEO stated "This is great news and another positive result for our business. We are building strong foundations of technology, systems and partnerships which will enable us to pursue our plans for rapid growth. We look forward to continuing to leverage our industry knowledge and innovative thinking to offer our clients the best possible betting experience in Australia and the US."
Following the acquisition of various betting platforms in 2018, the Group launched its PlayUp Sports and Racing Global Betting brand in 2019. The company has more than 300,000 users in Australia and will apply its learnings and experience to the US Market, including the launch of several exciting, yet to be seen products.
* Source: Eilers & Krejcik Gaming report, New Jersey Premium Sports Betting Update - December 14, 2020
PlayUp is a premium entertainment and technology group that enriches the lives of people through entertaining, rewarding and responsible online betting. We develop innovative online betting technologies in-house to power our brand and deliver world-class user experiences. Our energies are focused on fulfilling the needs of dedicated and passionate users who seek a deeper connection to the games they play.
We unify the world's favourite online betting products including Fixed Odds Sports Betting, Fixed-Odds Racing (Horses and Greyhounds), Esports and Daily Fantasy Sports (DFS) where we host Australia's largest and indeed some of the globe's largest prize pools in this competitive peer-to-peer online betting.
We hold online betting licenses in multiple jurisdictions and currently operate in Australia, New Zealand, India and the USA. In the USA, we have secured licensing and access to the nascent online sports betting market where our launch is imminent into multiple states.