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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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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