In a recent financial and personnel update, PlayUp, a growing sports betting platform in the United States, has announced the appointment of Art Hamilton as USA Chief Financial Officer. This announcement follows the appointment of Denis Drazin as USA Chairman and comes amid an ongoing legal battle with the company’s former USA CEO.
PlayUp hopes that Hamilton can bring with him significant US-based experience in the mergers and acquisitions, business development, and strategic planning sectors.
Hamilton has previously worked with PlayUp shareholder Matt Davey at NYX Gaming Group.
The company’s announcement also confirmed that it has received an investment of $35m from the crypto exchange FTX. With these funds, the company hopes to accelerate its growth across regulated markets in the US.
PlayUp Global CEO Daniel Simic said: "We are very happy with the progress of our US market entry. The recent investment by FTX will assist PlayUp in accelerating its US market opportunities and grow our global sports betting and wagering presence."
FTX Head of Product, Ramnik Arora added: "We are delighted to have an investment in PlayUp” and “we believe PlayUp is at a pivotal moment in its corporate journey.”
Interestly, FTX, PlayUp and the company’s former US CEO Laila Mintas have been embroiled in a legal battle regarding a potential takeover of the operator by the crypto exchange. Indeed, as reported by Gaming America PlayUp has accused Mintas of working to undermine FTX’s $450m takeover attempt.
Mintas has vehemently refuted these claims and argued that she has worked only to protect PlayUp shareholders. She has recently defeated an emergency restraining order requested by PlayUp in a Nevada court. The judge presiding over the case noted that PlayUp’s claims were unlikely.
