Well-known iGaming industry operator, PlayUp, has announced that next year it will launch a brand-new online casino site in Pennsylvania. The Australian-based firm has already entered a variety of US states but looks keen to keep building on its success, and taking advantage of the emerging market that is, United States-based online casinos.
The company announced at the beginning of November through a press release that it had struck a deal that would allow it market access via Caesars Entertainment Corp. As current regulations stand, online casino operators must have some kind of partnership with a retail casino establishment. PlayUp is looking to get into the market early enough so to avoid stiffer competition at a later date. The online casino market in Pennsylvania is currently flourishing, even though it’s only in its early stages.
Caesars Online Casino Pennsylvania’s information page will give you direct access to the state’s best online casino and sportsbook. You will be able to play some of the most popular video slot titles in the entire iGaming industry, such as Gonzo’s Quest, Dead or Alive, and Spartacus: Gladiator of Rome. In addition, you can play table games, video poker, scratchcards, and other types of thrilling casino games. You could even get a 100% first deposit bonus up to $1000 to give your new account a real kick-start!
State Law Dictates PlayUp’s Approach
PlayUp can already be seen in New Jersey and Colorado, as it currently has sportsbook sites in operation. The Pennsylvania deal will not be the same for the company, as it will only operate an iCasino gaming site.
State law means that a company is allowed more iCasino operations than it is allowed sportsbooks. A company is allowed to operate just 1 sportsbook within the state borders, and those licenses have already been spoken for. Correct licensing is incredibly important to have a successful business.
Another competitor announced its intentions to enter the marketplace. Back in September, MaximBet struck a similar deal to PlayUp’s, by announcing that it will join with Caesars/Harrah’s. This link will allow MaximBet access to the Pennsylvania iCasino marketplace, but the date in which it will enter is still yet to be confirmed.
Waiting on Licensing
In a recent statement about PlayUp’s current situation regarding licensing, a spokesman for the company said that it is still waiting to begin the Pennsylvania Gaming Control Board licensing process, but it will, however, start when the time is right – which shouldn’t be too far from now. PlayUp has operated online casinos before, but never in the United States. There are different hurdles presented in the country with running a sportsbook compared to an iGaming casino. It is also expected that PlayUp will enter the New Jersey market even perhaps before Pennsylvania. During the same statement, the PlayUp spokesman told how the company plans to go live in New Jersey with its online casino by early 2022, whereas the Pennsylvania project could take until the summer months to launch. The United States has strict licensing laws.
Moving into Sports Betting
PlayUp is very familiar with the American sports betting marketplace. The company believes that sometime in the future, there is a possibility of offering sports betting in Pennsylvania. It is something that it is strongly considering, and it is definitely one of the long-term goals for the company. A bigger portfolio is seen as a way to help grow a business.
Just like New Jersey, Pennsylvania is a state where that can be possible, although as the state allows just a limited number of sports betting operations, this could potentially become an issue. As it stands, the number of sports betting operators is thirteen, as well as the two more that are currently pending. The limit is 17.
Facing Barriers
There are several barriers involved in turning the possibility of entering a sports betting company into the Pennsylvania marketplace – a reality. Unfortunately for the company, it will not be a so straightforward challenge.
PlayUp intends to explore all of the possible options regarding this, but nothing is official as of yet.
Pennsylvania is undoubtedly a highly attractive marketplace for potential investors in online casinos. The CEO of PlayUp, Leila Mintas, explained the attraction in a recent press release. Mintas noted that just looking at September where iCasino operators amassed almost $100 million in gaming revenue for the month, is enough to get its attention. Figures like this are of course, eye-opening, and most certainly something that any operator wanting success would want to be a part of. PlayUp has a long-term game plan, and iGaming will play an integral part moving forward.
Pennsylvania – A Thriving U.S Gambling Market
It is clear to see that Pennsylvania is attracting a great deal of attention, as the state’s gambling condition continues to go from strength to strength, month after month. There is no doubt that the state of Pennsylvania has benefited greatly from the introduction of gambling activity. In September this year, the revenue generated from gambling through all gambling facilities, amassed $415.6 million for the month, as reported by state regulators. That figure represents a year-on-year growth of 46% when compared to September 2020, where the revenue generated was $130 million dollars less, at $285.5 million.
September wasn’t the best month, however, as in July, the state generated an all-time high of $423.6 million in revenue. Although it would appear that revenue is going down, no industry can expect to achieve bigger revenues every single month, and as September’s revenue was just $8 million dollars less than two months prior, it doesn’t make any cause for concern.
The state of Nevada is the only state ahead of Pennsylvania for the size of commercial casino revenues.
The gaming industry is vital to the state of Pennsylvania. The economic impact generated by gaming totals $6.34 billion, as well as bringing over 33,000 jobs to locals and supporting more than 33,000 jobs. By August this year, gaming revenues had brought in over $3 billion and paid $1.24 in tax revenue. This has allowed the state to improve schools, bolster law enforcement, and develop tourism.
