A gambling update says Playup is on an acquisition spree, there are ICO plans, and Nedscoin is garnering attention. Playup buys Classicbet. The acquisition is just the first in an update about gambling that affects Australian operators. Playup is an Australian based online gaming company, which has recently purchased Topbetta and Classic bet.
Playup announced last Friday that it has a deal with the bookmaker, Classic bet, to take over their company in New South Wales. Classic bet offers telephone and online betting. The company holds the license to do this legally. Recently, Australia has cracked down on specific operators for operating improperly, which has many people wondering if gambling will remain in Australia.
According to Playup, there is an annual income of $200 Australian, making Classic bet a mid-tier company. Monday, the company announced it would also gain TopBetta, which has been focusing on their global tote operation. The deal will cost $6 million Australian for Classic bet in cash, and another $800 million in Ethereum stake through PlayChip Utility Token.
Playup has been making moves to acquire various companies, not just the two mentioned. In the last few weeks, an announcement about gaining DraftStars was made. Draftstars is a fantasy sports operator. CrownBet was overtaken by PokerStars, as another acquisition in the gambling world. Playup also announced Mission New Energy limited would undergo a reverse merge to raise $40 million US for Playup by listing it on the Austrailian Stock Exchange and Nasdaq in New York.
Ned Coins ICO
Nedscoin is a concept that Ned’s online betting operator came up with to provide bitcoin style wagering in the Northern Territory. However, the situation did not go as planned in February, with an announcement that the Northern Territory Racing Commission would stop the venture. Neds then announced it would raise their funds through an Ethereum based ICO using Nedscoin. The idea is to gain $55 million Australian from the ICO.
Playtech and Snaitech
Playtech also acquires a new company this week. As part of the acquisition news that is happening in the gambling world, Playtech announced a deal with Snaitech.
It seems that many companies are attempting to raise money or buy out operators that wish to sell. Neds ICO is just one way that money is being raised, while other options like reverse are merging companies is happening. What most of the acquisitions tell us—most companies are getting out when regulations are tough, and others are looking towards ICOs and bitcoin.