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 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.
PlayUp is a next generation entertainment and technology group that enriches the lives of people through entertaining, rewarding and responsible online betting. We develop innovative betting technologies in-house to power our brands and deliver world-class user experiences. Our energies are focused on fulfilling the needs of dedicated and passionate users who seek a deeper connection to the games they play.
PlayUp unifies the world's favourite online betting products including Fixed Odds Sports Betting, Fixed-Odds Racing (Horses and Greyhounds), Esports and Daily Fantasy Sports (DFS) where we host Australia's largest and indeed some of the globe's largest prize pools in competitive peer-to-peer online betting.
We hold online betting licenses in multiple jurisdictions and currently operate in Australia, New Zealand, USA and India.
Mission NewEnergy Limited
Betmakers Technology Group Ltd