US Expansion Continues
Online lead generation firm Leadstar Media has strengthened its US footprint through the acquisition of an online casino and sports betting license in Pennsylvania. This third license in the US allows the company to launch iGaming options and online sportsbooks on the PA market.
Pennsylvania marks Leadstar Media’s fifth state in the company’s expansion in the US. The firm is already licensed in New Jersey and Indiana and also operates in Illinois and Iowa via partnerships.
According to Eskil Kvarnström, Leadstar Media’s CEO, Pennsylvania has an “attractive iGaming market”, as the second-largest state for regulated online gaming and betting in the US, strategic for the operator.
Additionally, the state allows players to use online registration, a crucial element in Leadstar’s business model. PA follows New Jersey in terms of gambling revenue and has considerably grown since the launch of the activity last year. “It goes without saying that we’re pleased to have been granted access to the Keystone State,” Mr. Kvarnström added.
Leadstar’s High Ambitions
Furthermore, the brand new license allows Leadstar platforms Unitedgamblers.com, which offers both casino and betting, and Bettingscanner.com, a website to compare sportsbooks, to reach for a higher position in their respective domains.
This license “enables [Leadstar] to be more competitive in the US,” Mr. Kvarnström said. Pennsylvania hosts an important gaming market with 10 licensed online sportsbooks and 12 online casinos, including top operators FanDuel and DraftKings. The Leadstar CEO said the company looks forward to partnering with these companies and to further develop its presence in the nation.
Revenue Drop in November
Despite more sportsbooks than ever in Pennsylvania, the state saw its sports betting revenue in November drop by 6.4% to $491.9 million, compared to October’s record $525.8 million.
However, all other states sharing a similar competitive market have reported a revenue increase last month. November is usually one of the most profitable months for sports betting due to football games. This year, the NFL and college teams played more competitions in November than October.