to Acquire TopBetta (ASX:TBH) and Mad Bookie
- Retail bookmaking assets to form integral part of PlayUp's expanding Australian wagering operations
- PlayUp will engage TBH for ongoing software and services
- The PlayChip to be integrated into TopBetta and Mad Bookie following completion of sale
TBH is an ASX-listed company and a global provider of online wholesale and retail wagering products and services. The TopBetta and Mad Bookie brands form TBH's retail wagering, fantasy tournament and content business and, once the sale is completed, will complement PlayUp's rapidly growing wagering operations.
The acquisition is an important part of PlayUp's corporate growth strategy as it seeks to list on both the ASX and NASDAQ through a merger with Mission NewEnergy Limited (ASX:MBT) (OTCMKTS:MNELF) (see below).
PlayUp is seeking acquisitions of cash-based fantasy sports betting platforms as well as other wagering operators globally recognizing the opportunity that is emerging within the global online sports and gaming sector. PlayUp will then integrate a new turnkey universal gaming 'token' cryptocurrency solution known as the 'PlayChip' into these and other independent gaming platforms. PlayChip will be the world's largest fully integrated blockchain enabled cryptocurrency for gaming and wagering.
PlayUp CEO Daniel Simic commented: "TBH has aggressively grown its Australian retail and wholesale businesses. Following the acquisition, PlayUp will be engaging TBH to provide PlayUp with a range of ongoing technology, software and services and we're excited to be working with them in this way."
"Once TopBetta and Mad Bookie are part of PlayUp's ecosystem they will deliver significant incremental gross gaming revenue to PlayUp as well as grow our local user base. We will also be integrating the PlayChip into TopBetta and Mad Bookie, providing users with an additional universal currency option."
* Please refer to TBH's announcement filed on the ASX
About Mission NewEnergy Limited
Mission NewEnergy Ltd (ASX:MBT) (OTCMKTS:MNELF) is an Australian Securities Exchange ("ASX") listed company.
PlayUp Limited is a technology developer as well as a fully operational Fantasy Sports, Sports Betting and Online Gaming Platform. PlayUp Limited operates PlayUp.com, ClassicBet and DraftStars within its gaming and wagering ecosystem. PlayUp Limited will deliver the world's first fully-integrated, blockchain enabled global fantasy sports, online sports betting and gaming ecosystem.
PlayUp.com currently has more than 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.com offers Daily fantasy challenges which are free to play and easy to enter. Users simply create their fantasy team by selecting a line-up of real world players and the platform operates in real-time. As users move up the leader board they can win PlayChips and purchase prizes from the PlayUp.com Store. PlayUp.com offers daily fantasy challenges across the worlds biggest leagues from Cricket, Football, Basketball, Kabadddi, Rugby League, Ice Hockey, Basketball, Australian Football, American Football with plenty more on the way.
PlayUp Limited 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.
* 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 requirements. 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.
About Topbetta Holdings Ltd
TopBetta Holdings Limited (ASX:TBH) is an ASX-listed holding company and a global provider of online wagering products and services to both wholesale and retail markets through its various wholly owned subsidiaries. TopBetta Pty Ltd operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services. Global Tote Australia Pty Ltd conducts TBH's Wholesale Business, which includes operating and licensing its wholesale tote product which enables licensed wagering operators, including corporate bookmakers and tote operators from all over the world, to participate in global pools. The Wholesale Business is conducted under a B2B licence granted by the UK Gambling Commission to Global Tote Limited, a company incorporated in Alderney, UK.
Topbetta Holdings Ltd
Mission NewEnergy Limited