Technology developer PlayUp has signed an agreement to acquire 123gaming, paving the way to expansion into the online US gaming space. 123gaming was founded in New Zealand in 2006 and today is a multi-award winning gaming company based in the UK & USA. The business is licensed in numerous states in the USA including a license in Washington State.
123gaming operates 123bet.com a pari-mutuel horse race wagering platform and 123gaming’s propriety product ‘123racing Fantasy Wager’, a skill-based fantasy racing platform. PlayUp will also bring 123gaming’s platforms and products into PlayChip’s global gaming ecosystem.
123gaming has a significant base of shareholders ranging from major punters, professional sports personalities and horse traders in the UK. The strategic acquisition will see 123gaming shareholders swap shares for PlayChips, currently being offered via Initial Coin Offering (ICO) at US$0.01 per token on www.playchip.global. The PlayChip is set to list on multiple crypto-exchanges later this year.
The acquisition will allow PlayUp to rapidly expand into the online US market and disseminate its suite of products which include fantasy sports and traditional sports betting as it regulates within each US state. Founder and CEO of 123gaming, Rob Earle will take up a pivotal role at PlayUp and head up their North American operations.
Daniel Simic, PlayUp CEO said: “We are extremely pleased to have secured a deal with 123gaming and to leverage their foothold in the US to bring our extensive range of online wagering and gaming products to market. 123gaming has established a strong credibility in the US with strategic partnerships and has a loyal fan base of its proprietary online fantasy horse racing platform that it has been operating for over 12 years for major US racetracks such as Monmouth Park and the Meadowlands.”
123racing Fantasy Wager is a popular pool based wagering platform fully integrated with the US tote network and available for tracks and off-track betting customers. This wager allows Fantasy Players (known as Handicappers in horse racing) to pick selections within a set number of live races and accumulate points to compete. Players can track their progress on live national wager leaderboards displayed online and on-screen at tracks and betting terminals. Players simply have to score the most points to win the pool prize.