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PlayUp app on the brink of closure
Saturday January 16,2016 : AUSSIE MOBILE SPORTS VENTURE REPORTEDLY IN TROUBLE
PlayUp app was claimed as a world first in mobile-based, sport-focused social media.
After burning through a reported A$75 million in investment capital, an Australian venture hailed as a world first in mobile-based, sport-focused social media is on the brink of closure, Australian weekend media reports suggest.
The PlayUp venture attracted investments from leading figures in Australian politics, business and sport but has run into difficulties and now faces a judicial closure action by disgruntled former employees, according to the Sydney Morning Herald.
Founded in 2006 as a possible online gambling app, PlayUp is now in trouble, according to filings with the Victorian Supreme Court by six former employees who are seeking the wind up of operating firm Revo, claiming they're owed A$500,000 in unpaid wages and pensions. The six have been joined by a shareholder, Ben Smith.
"Ostensibly, at least in one of its iterations, the PlayUp product was an app that allowed users to buy content from sports organisations, media and sports statistics firms, and athletes. An interactive mobile chat feature was to allow "fans to engage with friends and content around live sports," the Sydney Morning Herald reports, adding that there has been speculation that PlayUp was really intended as a gambling enterprise, and that lucrative betting markets in Asia and Europe, including China, were to be its money spinner.
That has been denied by Revo, the operating company for PlayUp, which has insisted that the product was not a gambling vehicle, but a social networking platform for sports fans.
In 2014-15 the Revo board saw a number of high profile director resignations, and some shareholders sold off their interests amid what the newspaper terms was "financial turmoil in the company."
Although PlayUp's chief executive claimed the business had broken even in 2014, shareholders complained that they had not received 2014-2015 financials, and less than a year later the head office had been shuttered, its websites closed, its telephone numbers were unresponsive and the PlayUp app is allegedly non-functional.
PlayUp also faced difficulties in Europe, where its subsidiary there was judicially wound up following an application from former CEO Sophie Neary in 2014 after PlayUp defaulted on payments due to her.
The Herald reports that there have also been other complaints of unpaid wages and an abandoned action by the Victorian Commission of State Revenue.
Company officials have so far declined to comment on the situation.
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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