PlayUp lands New Jersey sports betting license
US newcomer inks agreement with Penn National Gaming and Parx subsidiary to gain market access
Australian operator PlayUp has secured a sports betting license in New Jersey as the group continues to action its US expansion plans.
The Garden State marks the second market-access agreement for the Sydney-based operator following its acquisition of a Colorado license.
PlayUp secured the license after signing a multi-year deal with FR Park Racing, the sports wagering certificate holder and operator of Freehold Racetrack.
FR Park Racing is owned by Penn National Gaming, Parx Casino, and Greenwood Racing under the joint moniker of Pennwood Racing.
In November, PlayUp secured a $25m capital raise to fund its US expansion efforts via a non-renounceable entitlement offer.
Dr. Laila Mintas, PlayUp US CEO, said: “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 US. We are working to launch in New Jersey in the first quarter of this year,” she added.
Matthew Cullen, Parx SVP of interactive gaming and sport, commented: “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.”
Elsewhere, the operator appointed Dennis Drazin, CEO of Darby Development, which runs Monmouth Park, to its board of directors in December.