PlayUp Limited has entered into a binding, conditional heads of agreement to acquire the retail bookmaking subsidiary of Sydney-based TopBetta Holdings Limited (ASX:TBH) which includes the well-regarded 'TopBetta' and 'Mad Bookie' brands.
Mining & Metals
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The Board of TopBetta Holdings Limited (ASX:TBH) is pleased to provide the market with an update regarding the proposed sale of TopBetta Pty Ltd to PlayUp Limited ("PlayUp") as announced on 18 April 2018.
PlayUp is not a concept, it is an existing global fantasy sports and licensed online betting platform enjoyed by over 400,000+ users and generating over $200 million in annual turnover.
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The Board of TopBetta Holdings Limited (ASX:TBH) is pleased to update the market with the following announcement about its retail wagering and wholesale businesses.
PlayUp Australia Pty Limited has acquired Sydney-based ClassicBet, in a deal that will immediately increase PlayUp's annual gross gaming turnover by more than AUD$200M. The deal will complete once licensing approvals are granted in either the Northern Territory Racing Commission or Harness Racing NSW.
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