The Australian gaming brand PlayUp announced the acquisition of the popular among the Australians bookmaker ClassicBet, in a deal that will immediately increase PlayUp’s annual gross gaming turnover by more than AUD$200M.
The acquisition will support PlayUp’s ongoing growth strategy in the country, having also recently purchased the Draftstars fantasy sports platform from CrownBet. PlayUp intends to combine its wagering and global fantasy sports businesses into a single group and dual-list on the ASX and NASDAQ.
Daniel Simic, chief executive of PlayUp, commented: “ClassicBet has enjoyed a strong track record of success in the Australian sports and racing wagering market. ClassicBet’s users are loyal and regularly transact on the Classicbet.com.au website, wagering on both racing and multiple sports”.
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