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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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Gambling News :

Pokerstars Now Lead Sponsor of Global Poker League - Alex Dreyfuss Global Poker League has received a significant boost from the announcement by Dreyfuss Mediarex Sports and Entertainment company Friday that online pokers biggest operator, Pokerstars, has signed on as lead and exclusive GPL sponsor.

Betconstruch invests in Ucrafts - BetConstruct may have also been attracted by the obvious interest in Ucrafts business - the start-up has already gained 5,000 subscribers in just a few months of commercial activity.

Plus500 Founders Selling Off Shares - Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4 percent interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.

Rush Golf Live Launches - Virtual sports provider Inspired Gaming has announced the launch of its latest product - Rush Golf Live - with Betfred the first operator to carry the game.

British Basketball League in Deal With Perform - The British Basketball League has agreed a six-year deal with Perform, a digital sports content and media group, for the distribution and sale of all global media-related rights.

Ashley Sandyford Sykes Sharing Slot Expertise - Sandyford-Sykes has experience in the development of over a hundred popular online slot titles and led the Quickfire development team at Microgaming.

2016 WPT National Marrakech High Roller Results - Spanish poker pro Nabil Cordoso boosted his career earnings by a useful $66,873 this week when he was awarded the first prize in the PMU.fr WPT National Marrakech High Roller event in Marrakech.

GreenTube and Chopsticks In Partnership - Novomatic Interactive subsidiary Greentube has announced that it has signed a partnership deal with the Gibraltar-based mobile app developer Chopsticks In The Apps Ltd through which it will organize distribution of Chopsticks games through its online, mobile, social and land-based channels.

DraftKings Investigating Collusion Complaint - The stigma of cheating has surfaced again in the daily fantasy sports sector following allegations that two players colluded in a million dollar contest at DraftKings.

Singapore Gambling Exemptions Granted - The issue of certain state-linked commercial organisations being granted exemptions from Singapores tough anti-online gambling laws has been on the table for the past few months and has been the subject of opposition complaints; protest petitions and general argument.

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