{"id":5289,"date":"2023-07-24T05:55:27","date_gmt":"2023-07-24T05:55:27","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2023\/07\/24\/playups-planned-acquisition-remains-steadfast-despite-new-jersey-license-suspension\/"},"modified":"2023-07-24T05:55:27","modified_gmt":"2023-07-24T05:55:27","slug":"playups-planned-acquisition-remains-steadfast-despite-new-jersey-license-suspension","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2023\/07\/24\/playups-planned-acquisition-remains-steadfast-despite-new-jersey-license-suspension\/","title":{"rendered":"PlayUp\u2019s Planned Acquisition Remains Steadfast Despite New Jersey License Suspension"},"content":{"rendered":"<div>\n<p>Despite the turmoil surrounding failing sportsbook provider PlayUp, their planned acquisition by a listed gambling operator is on track, even after they lost their New Jersey license and entered \u201cmaintenance mode\u201d in Colorado.<\/p>\n<p>PlayUp was on the verge of selling its US operations when the New Jersey Division of Gaming Enforcement (DGE) suspended its license, putting a crimp in its plans. CEO Daniel Simic, on the other hand, assured investors that the acquisition ambitions were on track, unaffected by the recent setbacks.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow noopener\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Welcome Bonus &#8211; 125% bonus on your first deposit up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/record.revmasters.com\/_a1BXbZV3uxxVQ9qiBeFuTWNd7ZgqdRLk\/1\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>In response to the license suspension, PlayUp\u2019s website in Colorado, their only other operational US market, will shortly fall offline. There was speculation that these operational terminations would have an impact on the acquisition deal, but Simic dismissed those fears, expressing confidence in their post-acquisition future.<\/p>\n<p>\u201cWe are happy to place the website in \u2018Maintenance Mode\u2019 in New Jersey, and we have also sought permission to do the same in Colorado until our new platform is ready, our team is ready, and we have secured a new partner with the firepower to excel in the USA,\u201d Simic explained.<\/p>\n<p><strong><a href=\"https:\/\/igaming.org\/sports-news\/playup-temporarily-pauses-sports-betting-operations-in-new-jersey\/\" target=\"_blank\" rel=\"noopener\">PlayUp\u2019s license<\/a><\/strong> has been revoked in New Jersey. After the operator failed to disclose necessary financial information, the DGE\u2019s director, David Rebuck, issued a letter canceling PlayUp\u2019s license in New Jersey. The agency had requested that PlayUp provide year-to-date employee withholding tax remittance, particular bank statements from January to June 2023, and payroll registers for the same period.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative mb-10\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative\">\n\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow noopener\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins in Aztec Magic Deluxe\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/katsubet.partners\/p49d913a1\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Simic claimed that PlayUp had originally planned to close its doors in the United States on June 14, 2023. They did not, however, carry out the shutdown as planned.<br \/>\nInitial Inquiry and Communication by the DGE The DGE\u2019s original request for financial information was addressed to Glenn MacPherson, PlayUp\u2019s listed chief financial officer. The operator\u2019s response was expected on July 6, but they did not make the deadline.<\/p>\n<p>Following the missed deadline, the DGE spoke with Simic and his legal counsel over the phone. Simic notified the regulator during the conversation that MacPherson was no longer the group CFO and requested that the information be directed to himself instead.<\/p>\n<p>Despite the obstacles and license suspension, PlayUp\u2019s CEO is upbeat about the company\u2019s prospects. While they manage regulatory hurdles, the planned acquisition represents a possible turning point for PlayUp, laying the groundwork for potential development and success in the US market.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/casino-news\/playups-planned-acquisition-remains-steadfast-despite-new-jersey-license-suspension\/\">PlayUp\u2019s Planned Acquisition Remains Steadfast Despite New Jersey License Suspension<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Despite the turmoil surrounding failing sportsbook provider PlayUp, their planned acquisition by a listed gambling operator is on track, even after they lost their New Jersey license and entered \u201cmaintenance mode\u201d in Colorado. PlayUp was on the verge of selling its US operations when the New Jersey Division of Gaming Enforcement (DGE) suspended its license, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-5289","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5289","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=5289"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/5289\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=5289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=5289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=5289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}