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JULY 25, 2013
2up-gaming-new-jersey-casinoUK-registered, Curacao-licensed online gambling operator 2UP Gaming PLC is looking to break into New Jersey‘s online gambling market by either acquiring or building a casino in Atlantic City. On Thursday, 2UP released a statement saying it had received a letter of intent from an unspecified “Asian investment group” pledging to invest up to $330m in order to facilitate the acquisition of an existing Atlantic City gaming joint.
2UP, which began life in Melbourne, Australia a few years back, stated that it and its unnamed Asian sugar daddy planned to finalize their Definitive Agreement by Sept. 9, 2013. NorthJersey.com’s John Brennan quoted the company stating it was also considering the construction of a brand new facility in Atlantic City, but that language doesn’t appear in the press release on 2UP’s site, suggesting saner heads have since intervened.
2UP CEO Marino Sussich stated that his company had been “working diligently for the past 12 months assembling the finest technology and strategy and necessary to be a global leader in the iGaming marketplace.” Sussich touted emerging markets as key to 2UP’s growth potential, and that the “soon to be released launch of 2UP’s online gaming products into the United States” would factor large in this strategy.
Vincent Crandon, managing director of New York-based project finance outfit MidOil USA, was responsible for structuring the transaction between 2UP and its Asian partner. Crandon said MidOil, which will oversee 2UP’s New Jersey expansion, had “assembled an amazing team of local New Jersey professionals who are looking forward to helping revitalize Atlantic City by creating new jobs and opportunity.”
2UP first revealed their New Jersey aspirations in January, as part of the presser the company issued to announce its €25m acquisition of the DBG Poker Group. At the time, Crandon announced 2UP was looking at a “real world hotel/casino acquisition” in Atlantic City.
SOURCE
2up-gaming-new-jersey-casinoUK-registered, Curacao-licensed online gambling operator 2UP Gaming PLC is looking to break into New Jersey‘s online gambling market by either acquiring or building a casino in Atlantic City. On Thursday, 2UP released a statement saying it had received a letter of intent from an unspecified “Asian investment group” pledging to invest up to $330m in order to facilitate the acquisition of an existing Atlantic City gaming joint.
2UP, which began life in Melbourne, Australia a few years back, stated that it and its unnamed Asian sugar daddy planned to finalize their Definitive Agreement by Sept. 9, 2013. NorthJersey.com’s John Brennan quoted the company stating it was also considering the construction of a brand new facility in Atlantic City, but that language doesn’t appear in the press release on 2UP’s site, suggesting saner heads have since intervened.
2UP CEO Marino Sussich stated that his company had been “working diligently for the past 12 months assembling the finest technology and strategy and necessary to be a global leader in the iGaming marketplace.” Sussich touted emerging markets as key to 2UP’s growth potential, and that the “soon to be released launch of 2UP’s online gaming products into the United States” would factor large in this strategy.
Vincent Crandon, managing director of New York-based project finance outfit MidOil USA, was responsible for structuring the transaction between 2UP and its Asian partner. Crandon said MidOil, which will oversee 2UP’s New Jersey expansion, had “assembled an amazing team of local New Jersey professionals who are looking forward to helping revitalize Atlantic City by creating new jobs and opportunity.”
2UP first revealed their New Jersey aspirations in January, as part of the presser the company issued to announce its €25m acquisition of the DBG Poker Group. At the time, Crandon announced 2UP was looking at a “real world hotel/casino acquisition” in Atlantic City.
SOURCE
