Author: Joe Kizlauskas
Last Updated: 30th January 2021
By acquiring a betting license in New Jersey, PlayUp, a provider of online sports betting, horse racing and daily fantasy sports in Australia, New Zealand and India, has extended its presence in the US. After the recent acquisition of its Colorado license, this is the second market access agreement announced by the company.
Acquiring the license
A multi-year agreement with FR Park Racing LP, the sports wagering certificate holder and operator of the Freehold Racetrack, was signed by PlayUp to acquire the license. Pennwood Racing Inc is owned by FRP, and Greenwood Racing Inc, Penn National Gaming Inc and Parx Casino are the ultimate 50/50 partners of Pennwood.
Parx Senior Vice President of Interactive Gaming and Sports Matthew Cullen welcomed the deal, saying: “Parx Casino is happy to partner with PlayUp in New Jersey as they debut their international expertise of online sports betting in the United States.”
Dr Laila Mintas, chief executive of PlayUp USA, added: “We are very excited about the partnership with two excellent brands – Parx Casino and Penn National. We are looking forward to establishing PlayUp as a strong and innovative sports betting brand in the US. We are working to launch in New Jersey in the first quarter of this year.”
Building strong foundations
Daniel Simic, CEO of Global PlayUp, said: “This is great news and another positive result for our business. We are building strong foundations of technology, systems and partnerships which will enable us to pursue our plans for rapid growth. We look forward to continuing to leverage our industry knowledge and innovative thinking to offer our clients the best possible betting experience in Australia and the US.”
The group launched its PlayUp Sports and Racing Global Betting brand in 2019, following the acquisition of numerous betting platforms in 2018. The business has more than 300,000 users in Australia, including the introduction of many “yet to be seen” products, and will apply its learning and experience to the US market.