After successful operations in the Swedish market, PlayStar is eyeing entry into the United States. Of particular interest to the betting services provider is an opportunity to set up in the market’s largest gambling market, New Jersey. Luckily, Internet Vikings has offered to hold the operator’s hand as it advances into US gambling scene.
The greatest role that Internet Vikings will be playing is provision of bespoke iGaming-specific hosting services. This partnership is supposedly going to lay the required ground work before the official US operations of PlayStar kick off at the start of 2022.
Weighing in on the partnership that had just been formed to assist PlayStar to enter the US market, the Chief Business Development Officer of PlayStar, Adam Noble expressed how thrilled his team was following the move. He pointed out the fact that the iGaming and Sportsbook setup processes were different in the United States in comparison to Europe. These variations obviously pose a challenge for an operator who is used to a certain market.
With this partnership opening doors for a hustle-free US operation, Noble is confident that the company will be able to thrive in this new trading environment. The management of PlayStar can now revert to concentrating on making the customer experience in their new market worthwhile with the assurance that the technology aspect is well taken care of.
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What business is Internet Vikings involved in?
Internet Vikings is a big name in the European gambling market having built a reputation for providing top-notch hosting services for multiple iGaming providers across the region. The company’s interest in the United States market was first announced in July 2021 and shortly after they received approval to establish itself in the Colorado and West Virginia markets.
The latest development in this expansion quest comes recently and allows the company to engage in gambling in New Jersey. This is the same license that the hosting provider will use to facilitate the operations of PlayStar in the new market. With European gambling experience, Internet Vikings is well aware of the challenges that PlayStar could be facing and that is why they are a great business match.
According to the CEO of Internet Vikings, Peter Ekmark, the management of the hosting partner is particularly proud of this partnership for two reasons. The first is that they have made entry into the most coveted gambling market in the US. In his opinion, Ekmark envisions the challenges that companies face trying to get approval to set up businesses in the Garden State and is grateful that they were successful.
There can be no mention of the US gambling landscape without discussing the role that New Jersey has made to the grand picture. The state tops revenue performance for the entire country as far as gambling is concerned; in the first half of 2021, the state of New Jersey owned 21.5% of the total revenue gained from virtual sports betting out of the 15 states in the US that have regulated gambling laws.
As far as monthly comparison performance is concerned, reports indicate that revenue in August 2021 was 29% more than what was reported for the same month in 2020. There are obviously a large number of businesses in the gambling category that have active operations in NJ but the competition is just too steep. When it comes to launching an online gaming operation in New Jersey, the process is not as straightforward as it was when the market first legalized gambling.
The complexity of these state laws is due to the fact that the state administration is always streamlining gambling legislation to go with the times. Betting avenues open up all the time and even though some are emerging and season, the state does not lag behind in including them in the current law. It is therefore not unusual for a gambling operator to have trouble defining or narrowing down their line of business when it comes to operational license approval.
There are also special approvals required for equipment used in hosting as is the case with Internet Vikings; every server that the company plans to use for US operations must have an official state approval label as an indication that it went through the required government procedures required before receiving approval.
The second reason as to why the management of Internet Vikings is related with the recent partnership with PlayStar is the fact that they will be in service to their client. For Ekmark, being in a position to elevate the operations of another company to the point where they are directly responsible for their business success is a great source of joy.
There are many casino businesses that have placed their trust in Internet Vikings, and look up to their support to make in in such a competitive market. The assurance that Ekmark gives them is his company’s commitment to walk with them through all the milestones that make their business a success. This is not the only client that his company is going to support in the New Jersey market; Ekmark anticipates continued expansion and transformation so as to offer relevant solutions to the challenges of their customers.
Conclusion
The only reason a business will lean on another for support is so that they can get the required leverage to jump to where they hope to be. This is the current situation with gambling companies operating in the state of New Jersey. Although the regulations have been tightened so as to keep off jokers, it has made the existing players more innovative in the business approach. Mergers are happening and so are alliances and partnerships to prosper together. There is no excuse therefore for a gambling entity that has a unique offering not to enter the lucrative NJ market even without its own license documents.
