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PlayUP to Relaunch
Tuesday August 2,2016 : CONTROVERSIAL SPORTS MEDIA COMPANY TO RELAUNCH
This time around PlayUP will include online sports gambling licensed by Australias Norfolk Island Gaming Authority.
A failed sports media company that became a source of political contention in Australia is soon to be re-launched, this time offering online sports betting licensed by the Norfolk Island Gaming Authority.
The name PlayUP may be familiar to readers following allegations that in 2012 the current Australian prime minister Malcolm Turnbull - then shadow minister of communications - was accused of a conflict of interest in his investment of A$1.3 million in the venture.
Turnbull contended that the media company was not involved in online gambling and there was no conflict, a position contradicted by others associated with the company.
The company, along with the firm behind it, Revo Pty Ltd, failed after losing around A$100 million, sparking renewed controversy when it transpired that Turnbull, who was by then the governments communications minister, had sold his interest in PlayUP before it got into difficulties, taking advantage of an "unusual" arrangement in which the company converted his investment into a loan that allowed him to ultimately recover hundreds of thousands of dollars while other investors and employees went unpaid, according to a report in the Sydney Morning Herald.
Media reports are that the remainder of the loan was ceded to Turnbulls son Alex - a hedge fund manager in Singapore - soon after Turnbull became prime minister of Australia last year. Alex then sold the debt to Wiser Capital, a company backing PlayUPs new owner, Fantasy Sports Global.
The soon-to-be resurrected PlayUP makes no pretensions regarding its intention to offer online gambling, with Sydney-based owner Fantasy Sports Global confirming it has bought the failed enterprise from the receivers.
FSG founder Daniel Simic says he plans to launch a mobile app offering exclusive sports content and betting on Australian and international sports, including AFL and NRL. A Chinese arm of the business will be led by the Ho family, a billionaire gaming dynasty in the region.
Simic expects to build PlayUP into a multi-billion business, especially in the Asian market subject to legal approvals.
Interestingly, the Sydney Morning Herald reminds readers that in an unrelated move, the Turnbull government this year barred the Norfolk Island Gaming Authority from granting or renewing gaming licences after it was found to have effectively opened the Australian racing and betting industry to one of worlds biggest illegal bookmakers.
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Is there a place for AI in poker? -
If you are into the technology, you have certainly heard about Artificial Intelligence (AI) at least a few times. The word has become even more popular over the course of the last few years, especially with an introduction of another buzz word
MLB Odds: Mets vs. Dodgers -
Injuries have kept the New York Mets (31-37, –14.14 betting units) from being all they can be this year, but they expect to have Steven Matz on the mound for Wednesday’s game against fellow southpaw Rich Hill and the Los Angeles Dodgers (44-26, +7.56 units). First pitch from Chavez Ravine is 10 PM ET on ESPN.
NBA Odds: Warriors Down Cavs in Game 5, Reclaim Title -
It took a game longer than they would have liked, but the Golden State Warriors are once again the NBA champions. They beat the Cleveland Cavaliers 129-120 Monday night to eliminate the Cavs (+9 away) in five games and reclaim the Larry O’Brien Championship Trophy.
Vikings’ Victory Slot Launches -
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50 WSOP Seat Satellite -
Sunday, July 2nd at 3pm ET, two just days before the Fourth of July holiday, Americas Cardroom is running a 50-seat qualifier to the 2017 WSOP Main Event in Las Vegas.
NHL Odds: Series Tied Heading Back to Pittsburgh -
As quickly as Pekka Rinne lost his game in Pittsburgh, he found it again in Nashville. After Game 2, there were murmurings that Rinne wouldn’t start the next game. Predators Head Coach Peter Laviolette decided to stick with his goaltender, however, and Rinne led his team to two consecutive victories at home while stopping 50 of 52 shots.
Huge Win at Bitstarz Casino -
There has been plenty of big wins being landed at BitStarz lately, and yesterday, it was time again. Surprisingly it was yet another Amatic game that made one lucky player extra happy as he raked in an incredible $112,402 during an evening of intense playing.
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