Australian online betting and iGaming operator PlayUp Limited is looking into several strategic alternatives, one of which is selling the company. PlayUp is currently in the process of launching its BEST (Betting, Entertainment and Sports Technology) platform.
On Monday, PlayUp announced that it is evaluating strategic alternatives concurrently with its BEST platform launch. The alternatives that PlayUp’s Board of Directors will assess in the coming weeks include entering into strategic partnerships, selling the betting and iGaming operator or some other transactions.
A Single Account, Wallet, and App for All Betting Products
PlayUp has been operating in Australia since 2017 and it offers Australian bettors the chance to place online bets, engage in Daily Fantasy competitions or wager on eSports.
It has also gone live in the US where it has a total of 11 sports betting and iGaming licenses and has access to markets in 8 US states. PlayUp offers sports betting in New Jersey and Colorado.
The BEST platform, which is in the final certification stages, embodies everything that PlayUp stands for. Once testing lab GLI green-lights the platform and it becomes operational, BEST will allow PlayUp bettors to have one Australian or American account, wallet, and app and to use it to place bets across all PlayUp products.
PlayUp describes the BEST platform as “highly scalable and robust” and adds that it provides punters with “an integrated product experience.” BEST is an in-house online betting solution and is developed and owned by PlayUp.
The Australian betting operator also boasts an in-house risk management team comprised of betting industry veterans. The team is responsible for all things trading-related in both Australian and American sports and racing markets.