Australia-based PlayUp is close to selling its US operations to an unidentified publicly company traded and will embark upon a significant restructuring, including sizable layoffs.
Legal Sports Report’s Matthew Waters broke the news on Wednesday, citing PlayUp CEO Daniel Simic. As was the case with pointsbets'(OTC: PBTHF) recently announced sale of its US business, PlayUp’s Australian operations won’t be affected by the upcoming transaction.
Simic didn’t mention a sale price for PlayUp’s US unit in the interview, but he noted it’s likely that just seven staffers will make the transition to the acquiring firm. The operator had 38 US employees six months ago, but that number declined to 18 as of June 30, according to Legal Sports Report. PlayUp offers online sports betting in Colorado and New Jersey.
Simic added that the deal was originally scheduled to close at the end of the second quarter and that he believes it will be concluded at some point in July.
Legal Sports Report’s Matthew Waters broke the news on Wednesday, citing PlayUp CEO Daniel Simic. As was the case with pointsbets'(OTC: PBTHF) recently announced sale of its US business, PlayUp’s Australian operations won’t be affected by the upcoming transaction.
Simic didn’t mention a sale price for PlayUp’s US unit in the interview, but he noted it’s likely that just seven staffers will make the transition to the acquiring firm. The operator had 38 US employees six months ago, but that number declined to 18 as of June 30, according to Legal Sports Report. PlayUp offers online sports betting in Colorado and New Jersey.
Simic added that the deal was originally scheduled to close at the end of the second quarter and that he believes it will be concluded at some point in July.