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more. The other one is actually the issue around the conversion rates on the card processing and the rejections of the cards.” Having first expanded into the US back in 2013, New Jersey was the first stop on PXP Financial’s US journey. As more states began to open their doors to legalised betting, the US continues to hold much potential. Hedjri continued: “We started back in 2013, as online gaming began to be regulated in a few states. One of those states that we entered when we started was New Jersey - it was
exciting for us, back then it was one of the things that were all new and exciting. We expanded into the state and our approval meant we had the first dipping of toes into the water and that we could begin to gather experience in the US market. “It was a natural move for us as the regulations opened up as PXP has a great deal of gaming experience. As the regulations in the states started to open up, we spent around six years processing with nothing really much happening, before the regulatory market picked up and we experienced
that this is the right time to go all in.” As many firms look to replicate the success of PXP in terms of growth into US states, Hedjri pinpointed the key lessons the group would take from the journey of PXP. “Obviously, it’s crucial that you have enough resources - it’s going to be a resource-intensive expansion,” he said. “It’s not going to be a sprint, it’s going to be a marathon so you need to be prepared to invest significant time. It is not a short term entry, it needs to be a long and sustainable plan over a
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