PlayUp now preparing legal action against former CEO

PlayUp now preparing legal action against former CEO

PlayUp confirms the commencement of legal action against Dr Mintas and hires Drazin as lead counsel.

PlayUp vs Dr. Laila Mintas

PlayUp is preparing to sue Dr. Laila Mintas, the former CEO of PlayUp USA, for allegedly purposely sinking a $450 million purchase attempt by crypto exchange platform FTX. Along with the suit announcement, the business announced the appointment of Dennis Drazin as its new CEO.

In a press release issued Tuesday, the online sports betting and online slots company declared its intentions. While any litigation is undesirable, the firm stated in the release that the procedures were necessary to protect PlayUp’s interests.PlayUp refutes Laila Mintas’s recent disclosures regarding the proceedings. PlayUp will make no further comment on the matter, which is currently before the courts, and looks forward to a swift resolution or conclusion of those concerns. PlayUp remains committed to accelerating its expansion in the expanding US market.

Mintas Sued by PlayUp

A lawsuit filed in U.S. District Court in Nevada on Nov. 30 details how Mintas’ contract extension negotiations broke down and resulted in her doing destructive actions. Mintas’ communication with the plaintiff expired on the same day the lawsuit was filed. Mintas is suspected of contacting Sam Bankman-Fried, a proprietor of FTX, and informing him about a problem inside PlayUp’s administration. According to the lawsuit, “by doing so, (Mintas) contributed to the failure of the sale to FTX.”

In addition she is accused of threatening to contact US gaming authorities and making false claims about the company in order to harm PlayUp’s reputation and “directly result in the loss of a gaming license in the relevant states.”

Mintas Defends Against Charges

Mintas issued a statement this week denying that she attempted to “tear down PlayUp.” She stated that she remained an investor and shareholder in the company, which contradicts the allegations against her. Mintas retains a 7.5% stake in the company. 

Last week, PlayUp obtained a temporary restraining order against her. Mintas has until Dec. 27 to file a rebuttal, and PlayUp has until Dec. 29 to respond before the Jan. 3, 2022, hearing in Las Vegas. In New Jersey and Colorado, PlayUp offers online sports betting. The company’s online slots application is available in 25 states.

PlayUp Appoints a New CEO

Drazin formerly served as PlayUp’s director. He was essential in repealing PASPA and assisting in the creation of legislation that resulted in the Supreme Court of the United States eliminating restrictions on sports wagering. Drazin is also a member of the SBC Hall of Fame for Sports Betting. Drazin will work closely with PlayUp’s leadership team in his new capacity as the firm seeks to maximize its market access position and pursue more strategic and operational opportunities in the future.

“It’s been very rewarding to witness PlayUp’s rapid growth over the last several months,” Drazin stated in a press release. “I’m extremely encouraged by the business’s strong performance, particularly in New Jersey, where we’ve made significant progress in a short period of time in what may be the world’s most competitive market. I’m looking forward to working directly with the team to scale our operations, expand our market presence, and accelerate our ambitious plans to accelerate our growth in the United States and Australia.”

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.