PlayUp acquires Draftstars from CrownBet

Daily fantasy sports operator PlayUp has acquired DraftStars from Australian wagering operator CrownBet.

The acquisition of DraftStars will see the integration of PlayUp’s “PlayChip”, a universal gaming currency built on the Ethereum blockchain.

PlayUp said that the acquisition forms part of PlayUp's international growth strategy while allowing CrownBet to focus on its core wagering business.

Draftstars was founded in 2015 by Matt Tripp and CrownBet with Seven West Media, Fox Sports and the AFL becoming shareholders in the venture.

DraftStars  is Australia’s largest daily fantasy sports (DFS) platform with more than 100,000 active users.

Matt Tripp commented: “PlayUp’s innovative strategy to grow Fantasy Sports and create global liquidity in cash and cryptocurrency via its ‘PlayChip’ will be an exciting journey.  We are glad that Draftstars now forms part of PlayUp’s offering and that the effort put into growing the Draftstars brand and client base will add to PlayUp’s success.”

PlayUp CEO Daniel Simic said: “Draftstars is an ideal acquisition for PlayUp delivering immediate and significant growth in our Australian user base and a highly recognisable daily fantasy sports brand that we will continue to grow and enhance. Over time, we will integrate the PlayChip within Draftstars as an additional currency.”

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