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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.

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PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republicís new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

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Time is Money Slot Launches - Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.

ArenaCube Signs 3 New Deals - Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kironís virtual content.

First Woman to Win a WPT Playground Championship - Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.

NHL Odds: Oilers-Blackhawks at the United Cente - Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.

2017 Partypoker.net WPT Playground main event Results - Although she entered the heads up against Jean-Francois Bouchard with a chip deficit, Zajmovic was able to get herself back in the game with some skillful and disciplined playing, eventually overtaking the leader and finally leveraging her chip advantage into a decisive win.

IGT In Deal With Norsk Tipping - International Game Technology has announced a new contract signing which will see it providing interactive casino and Instant Win game libraries and custom games through a remote game server to Norwegian gambling group Norsk Tipping.

ZYNGA POKER ENJOYS IMPRESSIVE GROWTH IN 2016 - By re-focusing on the mobile environment and poker, social gaming giant generates revenue of $741 million - without offering real money games!

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