{"id":248465,"date":"2022-12-17T07:01:46","date_gmt":"2022-12-17T13:01:46","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=248465"},"modified":"2023-01-03T05:58:41","modified_gmt":"2023-01-03T11:58:41","slug":"playups-pending-license-denial-in-ohio-may-lead-to-other-issues","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/playups-pending-license-denial-in-ohio-may-lead-to-other-issues\/","title":{"rendered":"PlayUp’s Pending License Denial in Ohio May Lead to Other Issues"},"content":{"rendered":"

What possibly happens in Ohio could have repercussions elsewhere in the country for PlayUp.<\/p>\n

\"PlayUp\"<\/a>
A screen capture from a cached web page for PlayUp’s Slots+ game. That game, which has since been pulled, led to Ohio regulators telling the Australian-based company they intended to deny PlayUp’s application for a sports betting license. (Image: Google)<\/figcaption><\/figure>\n

The Australian-based gaming company has taken down an online slot-like game after the Ohio Casino Control Commission announced during its Wednesday meeting that it intended to deny the operator a sports betting license.<\/p>\n

The commission sent PlayUp a letter on Dec. 2 saying because the company had \u201cone or more disqualifying violations,\u201d it would not be considered \u201csuitable or eligible\u201d for licensure. In that letter, the OCCC said PlayUp accepted \u201cillegal wagers\u201d from American bettors through its Slots+ product.<\/strong><\/p>\n

The commission also accused PlayUp of breaking Ohio law by \u201cengaging in false, deceptive, misleading, or otherwise impermissible advertising\u2026 by advertising the Slots+ product as legal gaming in the state of Ohio.\u201d<\/p>\n

OCCC Executive Director Matt Schuler also informed commissioners at its meeting Wednesday that the agency issued a cease-and-desist notice to PlayUp and Potent Systems, its technology partner. Schuler added that the companies had started taking steps to comply with the commission\u2019s request.<\/p>\n

Mentions of Slots+ have been removed from PlayUp\u2019s website, and a page for the game has also been wiped from Facebook.<\/p>\n

A cached webpage for Slots+ described the game as using \u201cresults from real life events to power fun and exciting slots.\u201d It also listed 26 states where Slots+ and PlayUp\u2019s racebook were available. Ohio was listed on the cached page, but the site noted only the racebook was legal in the Buckeye State.<\/p>\n

PlayUp is currently licensed to offer sports betting<\/a> in Colorado and New Jersey. It also holds an iGaming, or online casino, license in New Jersey. In Ohio, it\u2019s slated to be a mobile partner with JACK Casino Cleveland. Last month, JACK lost a mobile partner when MaximBet<\/a> announced it was ceasing operations.<\/p>\n

Appeal Hearing Planned<\/h2>\n

PlayUp did not respond to requests seeking comment.<\/p>\n

The company does have the right to request a hearing in its case, and OCCC Director of Communications Jesica Franks confirmed to Casino.org<\/i> that one will be held in the matter.<\/p>\n

\n

Under Ohio\u2019s process, the hearing will allow PlayUp and the state to offer evidence and question witnesses on both sides. The presiding judge will then issue a report and the OCCC commissioners will then take action.<\/p>\n<\/div>\n

The hearing could happen in January, although it\u2019s uncertain when the judge\u2019s report will be completed.<\/p>\n

Should the OCCC decide to deny PlayUp, it could impact the company\u2019s suitability in other states where it is licensed or may be applying.<\/p>\n

Richard Schuetz has worked as both a gaming executive and a regulator. He told Casino.org<\/em> that states require licensees to reveal material events in another jurisdiction.<\/p>\n

\u201cThat\u2019s what can trigger the dominoes,\u201d he said.<\/p>\n

Ohio Issue PlayUp’s Latest Woe<\/h2>\n

A pending denial in Ohio is not PlayUp\u2019s only concern.<\/p>\n

Three months ago, PlayUp announced plans to merge with a special purpose acquisition company (SPAC) in an effort to become a publicly traded company. On Dec. 8, that SPAC, IG Acquisition Corp. (IGAC), filed an 8-K report with the US Securities and Exchange Commission that noted the parties signed an amended agreement that allows IGAC to explore opportunities with other companies.<\/p>\n

\n

The reason for the entry into the Amendment Agreement is because of the delay in obtaining the Company\u2019s (PlayUp\u2019s) audited financial statements and other materials, as well as market conditions that have made it difficult to obtain financing necessary to consummate the transactions,\u201d <\/strong>IGAC said in the filing. \u201cUnless the Company is able to deliver its audited financial statements and obtain the necessary funding, IGAC intends to seek to locate an alternative target company and potentially pursue the consummation of a business combination with such alternative target company.\u201d<\/strong><\/p>\n<\/blockquote>\n

In November 2021, PlayUp had a $450 million purchase offer from FTX, the now-collapsed cryptocurrency exchange currently making headlines after its founder was arrested in the Bahamas this past week. That deal fell through, and has since become a key issue in a lawsuit and countersuit between PlayUp and Dr. Laila Mintas, PlayUp\u2019s former US division CEO.<\/p>\n

This past January FTX agreed to invest $35 million<\/a> in PlayUp.<\/p>\n","protected":false},"excerpt":{"rendered":"

What possibly happens in Ohio could have repercussions elsewhere in the country for PlayUp. The Australian-based gaming company has taken down an online slot-like game after the Ohio Casino Control Commission announced during its Wednesday meeting that it intended to deny the operator a sports betting license. The commission sent PlayUp a letter on Dec. […]<\/p>\n","protected":false},"author":45,"featured_media":248466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[33810,1074],"tags":[81911,81945,80968],"acf":[],"yoast_head":"\nPlayUp's Pending License Denial in Ohio May Lead to Other Issues<\/title>\n<meta name=\"description\" content=\"PlayUp is not deemed suitable for licensure, according to the Ohio Casino Control Commission. 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