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.
PlayUp is a fully operational Fantasy Sports, Sports Betting and Online Gaming Platform. PlayUp currently has approximately 400,000 registered users and is represented by global sporting icons such as Brett Lee, who has amassed a social network of over 4 million sports fans.
PlayUp currently employs 27 fulltime employees with offices in Sydney (HQ), Melbourne, Darwin and Hong Kong. PlayUp Interactive Pty Ltd, a wholly owned subsidiary of PlayUp Limited is a licensed gambling operator in Australia.
PlayUp will deliver the worlds first fully-integrated, blockchain enabled global fantasy sports, online sports betting and gaming ecosystem. Underpinning its ecosystem, is the PlayChip Utility Token – a crypto-currency built on the Ethereum blockchain, specifically designed for use as a universal payment and rewards system for gaming and wagering.
The PlayChip will form the foundation to facilitate the decentralisation of the PlayUp platform and allow sports fans to connect, compete and collect, irrespective of their location.
* As announced on 09 April 2018, PlayUp has agreed to merge with Mission NewEnergy Limited (ASX:MBT) (OTCMKTS:MNELF), subject to the approval of the ASX and NASDAQ and regulatory approval requirement, upon the completion of the merger it is anticipated that the company's securities will seek to re-comply with both ASX and NASDAQ listing rules resulting in the trading of shares on the NASDAQ stock exchange and the ASX.
* PlayUp Australia Pty Limited is a subsidiary of PlayUp's international entity.
PlayUp.com ICO of the PlayChip, IndependentReserve.com, Blockchain196.com and Cryptyk.com video presentations from the recent Investorium.tv in Sydney are now available for watching.
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.
Australia-based PlayUp Limited, the developer, owner and operator of leading-edge technologies focused on live sports entertainment in the online gaming and daily fantasy sports sector, has acquired Draftstars from CrownBet.
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