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Another roll of the dice for once Turnbull-backed venture PlayUp – The Age

Malcolm Turnbull’s most contentious investment, a failed sports media company that lost almost $100 million and sparked a conflict-of-interest row over online gambling, has come back to life.

PlayUP, the sports startup Mr Turnbull helped bankroll in 2012, went into liquidation in February. It is to be re-launched this year.

Luckier than some ... Malcom Turnbull was able to recover most of his investment in PlayUP.
Luckier than some … Malcom Turnbull was able to recover most of his investment in PlayUP. Photo: Louise Kennerley

A key feature will be sports gambling licensed by the embattled Norfolk Island Gaming Authority. While the Prime Minister will not have a stake in the new-look PlayUP, it is likely to be an unwelcome reminder of one of his more troublesome business forays.

Sydney-based Fantasy Sports Globa…

Read the full article at: http://www.theage.com.au/national/investigations/another-roll-of-the-dice-for-once-turnbullbacked-venture-20160731-gqhkpk.html

Category: GamblingBy Insolvency GuardianAugust 2, 2016

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Another roll of the dice for once Turnbull-backed venture PlayUp – The Age

Malcolm Turnbull’s most contentious investment, a failed sports media company that lost almost $100 million and sparked a conflict-of-interest row over online gambling, has come back to life.

PlayUP, the sports startup Mr Turnbull helped bankroll in 2012, went into liquidation in February. It is to be re-launched this year.

Luckier than some ... Malcom Turnbull was able to recover most of his investment in PlayUP.
Luckier than some … Malcom Turnbull was able to recover most of his investment in PlayUP. Photo: Louise Kennerley

A key feature will be sports gambling licensed by the embattled Norfolk Island Gaming Authority. While the Prime Minister will not have a stake in the new-look PlayUP, it is likely to be an unwelcome reminder of one of his more troublesome business forays.

Sydney-based Fantasy Sports Globa…

Read the full article at: http://www.theage.com.au/national/investigations/another-roll-of-the-dice-for-turnbullbacked-gaming-venture-20160731-gqhkpk.html

Category: GamblingBy Insolvency GuardianAugust 2, 2016

Post navigation

PreviousPrevious post:Insolvency rates on the increase as residents face bankruptcy – Rockhampton Morning BulletinNextNext post:National Debt Relief Shares Tips To Manage Mortgage Payments – Benzinga

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Court wipes punter's $150,000 debt – Racenet
July 15, 2024
Woman sells her two daughters to people traffickers to cover gambling debts – Yahoo News Australia
July 13, 2024
Banned NBA player Jontay Porter admits to $1million gambling scheme and pleads guilty to federal fraud charges – Daily Mail
July 10, 2024
Ex-NBA player Jontay Porter admits to gambling scheme that earned shady bettors $1M – New York Post
July 10, 2024
Ex-Raptors player Jontay Porter pleads guilty in case tied to gambling scandal – CBC Sports
July 10, 2024
Intermediate-aged boy's $16k online gambling debt – Otago Daily Times
July 8, 2024
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