Fantasy sports platform PlayUp to acquire fourth gaming business

By Meagan Evans. Published at May 15, 2018, in Technology

Australian online gaming and DFS firm PlayUp is racking up the acquisitions prior to its dual listing on the NASDAQ and the ASX via a reverse takeover of Mission NewEnergy Limited (ASX:MBT | OTC:MNELF).

The company plans to raise $US40 million ($51.5 million) through the reverse listing on the ASX and deliver “the world’s first fully-integrated, blockchain enabled global fantasy sports, online sports betting & gaming ecosystem”.

Headed by Sydney-based entrepreneur Daniel Simic, PlayUp has already locked in a number of acquisitions as it works towards its goal of becoming one of the largest fantasy sports platform operators.

The company is also represented by sporting legend, Brett Lee, who has a social network of over four million sports fans.

Brett lee playup ambassador

PlayUp, which is understood to have 400,000 registered users, has also revealed that it will enter the cryptocurrency craze, by introducing a new online currency the PlayChip Utility Token as part of its fantasy sports platform.

However, any news is speculative at this stage therefore investors considering this stock for their portfolio, should seek professional financial advice.

PlayUp’s latest acquisition is of online platform,, which it acquired from community organisations the Mounties Group, Campsie RSL and Club Rivers. The platform lets players rate and share form, share tips and then place the bets and is an opportunity for PlayUp to integrate the PlayChip as a way to wager or collect rewards.

Simic commented on the acquisition saying, “ has been on our radar for some time as they have built a truly social wagering platform used by a high volume of punters as well as developed an innovative app and online presence.

“We’re committed to enhancing the social and community focus of the platform as well as integrate the PlayChip as an optional wagering payments and rewards offering.”

This acquisition comes after company’s recent acquisition of CrownBet’s DraftStars. While it also has plans to buy Sydney-based ClassicBet, pending approval from the Northern Territory Racing Commission or Harness Racing NSW. These two acquisitions alone are forecast to lift PlayUp’s gross gaming turnover by more than $200 million, according to the company.

PlayUp had a rocky start before it get to where it is today. The original owner of the business, Revo — headed by former NSW premier Nick Greiner, collapsed into liquidation in 2016. A number of high profile investors were involved including Malcolm Turnbull, David Paradice, Allan Myers, as well as Steve Waugh and Adam Gilchrist.

In 2017, Simic and investors resurrected the PlayUp brand and it’s reassuring to know that PlayUp's founders, Luke Bunbury and George Tomeski, who oversaw the business burn through A$100 million of investor funds, are no longer involved in the business in anyway.

Previous management spent far too much money on staff and opening offices around the world and building its own software. By January 2016 its parent company Revo Pty Ltd was in liquidation. Simic noted that he would be spending a lot less money than previous management.

Mission NewEnergy has lodged disclosure documents to the ASX approve the proposed transaction with PlayUp, however it is yet to make an announcement regarding the deal to as it works to determine the whether the company will be suitable for listing.

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!