rapid expansion into the US<\/a><\/em><\/strong> market, where it has already\u00a0seccured\u00a0sports betting access in New Jersey and Colorado.\u00a0\u00a0<\/p>\n\n\n\nThe company estimated the US sports betting market is poised to grow to over US$17 billion. It plans to continue\u00a0its acquisition of more online sports betting licenses across the country.\u00a0<\/p>\n\n\n\n
CEO Daniel\u00a0Simic\u00a0said: “The oversubscription of our US$25 million raise reflects the enormous potential of\u00a0PlayUp. It is an endorsement of our team, our technology and our vision.\u00a0<\/p>\n\n\n\n
“Since developing Australia’s first pay-to-play Daily Fantasy Sports (DFS) platform in 2015,\u00a0PlayUp\u00a0has become the number one Australian DFS provider by all metrics. We now have over 300,000 registered clients and generating in excess of AU$270 million (US$193.3 million) in turnover annually.”<\/p>\n\n\n\n
As part of its push into the American market,\u00a0PlayUp\u00a0appointed Laila\u00a0Mintasas CEO of US operations in July.\u00a0Mintas\u00a0was previously deputy president of Sportradar\u00a0and a professor of global sports law at the University of Columbia in New York.\u00a0<\/p>\n\n\n\n
She commented: “We have made great progress in the\u00a0US,\u00a0the market is being legalised state by state and\u00a0PlayUp\u00a0will be one of the first movers making sure we secure market access rights from the beginning. <\/p>\n\n\n\n
“Through our strong presence and dynamic products, we will shape the future of this market.”\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
PlayUp\u00a0plans to use the funds to accelerate its expansion into the US market, where it has already\u00a0secured\u00a0access in Colorado and New Jersey.\u00a0\u00a0<\/p>\n","protected":false},"author":2,"featured_media":11477,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PlayUp has successfully raised US$25 million through a non-renounceable entitlement offer, subscribed by Investorlink Securities. These funds are earmarked for accelerating the operator's strategic expansion into the burgeoning US sports betting market, where it has already secured market access in Colorado and New Jersey. The company aims to acquire additional state-level online sports betting licenses to capitalize on the projected US$17 billion market opportunity.","focusai_entities":"PlayUp, Investorlink Securities, Daniel Simic, Laila Mintas, Sportradar, University of Columbia","focusai_location":"US, Colorado, New Jersey, Australia, New York","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), compliance_legal (0.8), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"US Market Entry Strategy","query":"What specific B2C market penetration strategies, beyond license acquisition, will PlayUp deploy to achieve its projected US market share given established incumbents?"},{"label":"Capital Allocation & ROI","query":"How does PlayUp project the return on investment for this US$25 million capital raise, specifically detailing expected GGR\/NGR contributions from new states and the timeline to profitability?"}],"footnotes":""},"categories":[16336,163,158],"tags":[289,233],"class_list":["post-11475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","category-slider-home","tag-australia","tag-sports-betting"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=11475"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11475\/revisions"}],"predecessor-version":[{"id":11482,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/11475\/revisions\/11482"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/11477"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=11475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=11475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=11475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}