PowerPlay Secures $15M Facility to Fund Customer Acquisition Push

PowerPlay has secured a $15m growth financing facility from Discerning Capital’s House Advantage Fund (HAF), with PVX Capital acting as structuring partner, according to the company’s press release. The funding is designed to support customer acquisition and marketing spend in regulated markets, with an initial focus on Canada.

The deal gives PowerPlay access to non-dilutive capital tied directly to marketing activity. Discerning Capital said HAF targets operators already running acquisition budgets at scale, offering credit that grows alongside performance instead of requiring equity dilution.

PowerPlay plans to use the facility to expand its position in Ontario and prepare for further provincial openings across Canada. Repayments are linked to revenue generated from funded campaigns, which ties the cost of capital directly to user acquisition output.

Discerning Capital Managing Partner Davis Catlin said the model is built for operators that want to scale without raising equity at early-stage valuations. PowerPlay CEO Dean Serrao said the facility gives the company room to accelerate growth while keeping ownership intact.

The structure reflects a broader shift in operator financing. Customer acquisition costs remain high in regulated markets, and access to traditional funding has tightened. That is pushing more operators toward credit models tied to marketing performance rather than balance sheet expansion.

TGJ Take

This is not just a $15m deal. It shows how acquisition financing is becoming a separate layer in iGaming. In markets like Ontario, where CAC is high and competition is fixed, access to this type of credit extends runway without giving up equity. Operators without it will struggle to match spend. Affiliates should expect traffic to concentrate around brands that can sustain acquisition budgets backed by this kind of financing.