PlayUp Limited Announces Exploration of Strategic Alternatives

PlayUp Limited, a leading sports betting and iGaming technology company, has announced that it is working through completion of the certification process by GLI and, therefore, is closing in on approval to launch its proprietary Betting, Entertainment, and Sports Technology Platform (BEST) in the US markets.

As a next-generation entertainment and technology company offering online sports betting and iGaming in the US and online betting, Daily Fantasy Sports, and eSports throughout Australia, PlayUp has developed BEST to be a highly scalable and robust online betting platform that provides an integrated product experience. The BEST platform will allow users to have a single account, single wallet, and single app in the US or Australia to make bets across all supported betting products. All BEST intellectual property is self-developed and owned by PlayUp.

PlayUp is already live in the US (New Jersey and Colorado with sports betting and across more than 25 States with Slots+) and has positioned itself for growth by capitalizing on its experience as an Australian operator since 2017 and having strong market access in the US (11 online sports betting and/or iGaming market access agreements across 8 states). PlayUp has also assembled an experienced in-house risk management team that trades all US and Australian sports, as well as racing.

Additionally, PlayUp’s Board of Directors has initiated a process to evaluate strategic alternatives. As part of this process, PlayUp intends to consider a full range of alternatives, including strategic partnerships, a sale of the company, or other possible transactions. Innovation Capital LLC has been retained as its exclusive financial advisor to assist with the strategic review process.