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Los Angeles-based Game Play Network, which operates the casino-style gaming app Horseplay, announced that it has appointed Justin Sebastiano as the company’s executive VP and CFO.
Sebastiano brings more than 20 years of experience in the financial and gaming sectors to Game Play Network (GPN), whose unique Horseplay platform launched in 2024 and is currently available in 18 states, including in California.
Sebastiano said he’s joining GPN at the perfect time.
“I’m thrilled to join Game Play Network at such an exciting time in its evolution. The team has built a strong foundation and clear vision. I look forward to partnering with … our leadership team to drive disciplined growth, operational excellence, and long-term value for our stakeholders.”
Horseplay game outcomes determined by real horse races
The Horseplay app has the look and feel of an online casino, featuring dozens of virtual slots, as well as arcade games and video poker. Users deposit funds and then purchase “credits” that are used to play the various games. After playing, real-money winnings are revealed.
But it’s on the backend that Horseplay differs from other online casinos and allows it to legally operate in states that don’t allow real-money digital casinos or sweepstakes gaming platforms, including California, whose ban on sweepstakes casinos goes into effect Jan. 1.
Instead of using a random number generator to determine game outcomes, which is how most online casino games operate, Horseplay game results are determined by the outcomes of live horse races. Game Play Network says that its operating procedures make Horseplay “an advance deposit wagering company licensed to conduct internet wagering on horse races under the Federal Interstate Horseracing Act.”
California racing industry says revenue from HHR machines is crucial
The Horseplay operating framework makes its games like a digital version of Historical Horse Racing (HHR) machines, slots-like games that use randomized horse race results to determine game outcomes. Viewed by proponents as a form of pari-mutuel wagering, HHR machines are legally permitted in a handful of states, including Arkansas and Kentucky, and are often found at racetracks and off-track betting parlors.
The horse racing industry, which has been in financial decline nationally due to public interest declines in the face of increased gambling competition, has been pushing for HHR machines as a new source of revenue.
In California, The Los Angeles Times reported earlier this year that most in the industry feel that if HHR machines or some other new revenue source doesn’t surface soon, “racing in the state will not continue much longer.”
This summer, the Times reported that efforts to add HHR machines took a hit when Atty. Gen. Rob Bonta issued his opinion that daily fantasy sports are illegal in California, upholding the exclusive rights of tribes to operate casino-style gaming in the state.
Sebastiano’s experience expected to aid Horseplay expansion
Game Play Network says it has the ability to launch Horseplay in up to 40 states, an expansion that Sebastiano should be able to assist with given his extensive experience. He was senior VP, treasurer, and head of procurement at Fanatics for four years before joining GPN.
Before that, he served in various leadership roles at Penn Entertainment for more than seven years.
GPN CEO David Marshall said Sebastiano will be critical in moving the company forward.
“Justin’s deep expertise in the gaming industry, capital markets, and scaling finance operations will be invaluable as GPN advances its growth and partnership initiatives. He brings a proven record of leading complex financings, building investor relationships, managing M&A transactions, and driving stakeholder value – all of which are critical as we enter our next chapter.”
