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PlayUp Limited (PlayUp) has entered into a binding, conditional heads of agreement to acquire the retail bookmaking subsidiary of Sydney-based TopBetta Holdings Limited (ASX:TBH) (TBH) which includes the well-regarded 'TopBetta' and 'Mad Bookie' brands.

- 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
http://www.abnnewswire.net/press/en/92862/Topbetta


About Betmakers Technology Group Ltd

Betmakers Technology Group Ltd (ASX:BET)(FRA:T07) 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. The Company operates a retail wagering business, offering consumers wagering, fantasy tournament and content products and services.

    



About Mission NewEnergy Limited

Mission NewEnergy Ltd (ASX:MBT) (OTCMKTS:MNELF) is an Australian Securities Exchange ("ASX") listed company.

    



About PlayUp

PlayUp Limited is a Universal Gaming Platform offering Daily Fantasy Sports, sports and race betting, fantasy stables, eSports, and casino table games. PlayUp makes up the team behind the PlayChip and operates PlayUp.com, ClassicBet, Draftstars, Betting.Club, TopBetta, and MadBookie. PlayUp Limited will deliver the world's first fully-integrated, blockchain enabled global fantasy sports, online sports betting and gaming ecosystem.

     

Contact

Michael Henderson
DEC PR
Phone: +61-413-054-738
Email: m.henderson@decpr.com.au




Related Companies

PlayUp
             

Mission NewEnergy Limited
             

Betmakers Technology Group Ltd
             


Related Industry Topics:
Games & Entertainment Consumers General Financial General Sports IPO Cryptocurrency Blockchain

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