Punters have been assured they will not be impacted by revelations that Amused Group – which until recently operated 10 wagering brands including BetDeluxe – is in the hands of creditors.
Betsy can reveal that Amused Group – which recently sold its wagering assets to a company run by industry veteran and ex-Racing Queensland CEO Jason Scott – entered voluntary administration last week.
But the fallout from the administration could be significant as it is understood that Amused Group – previously run by Colby Paulding and Noah Rose – owes several state racing bodies significant amounts of money, believed to be in the millions of dollars.
There has been speculation for several months that Racing Victoria is among those owed money, with the racing body having previously worked with the business to recoup a significant debt.
A number of suppliers are also expected to make claims, Betsy understands.
In a notice filed with the Australian Securities and Investments Commission, an administrator was appointed to Amused Group on October 19.
A meeting for affected creditors is now set for October 29.
Scott’s Matchday Group recently bought Amused Group’s 10 wagering brands, the most prominent being Bet Deluxe.
All liabilities that Amused Group had amassed remained with the original business and were not part of the transfer of assets, it is understood.
Scott told Betsy on Monday that he has made sweeping changes since he arrived to point the assets “in a different and compliant direction”.
“Matchday purchased the assets of Amused Group and have already made significant changes, appointing a head of finance, a new head of commercial and general counsel, plus myself as CEO, which will all provide new leadership and take the assets in a different and compliant direction,” he said.
In an email to staff, Scott said that Amused Group’s debt has nothing to do with him or the brands he operates.
He also said the new business will be “part of the solution, not the problem”.
”Quite a few of you have been to see me in relation to communication that suppliers have forwarded or spoken about in relation to Amused Australia entering into liquidation,” Scott wrote.
”I understand these conversations can be awkward when the recipients are frustrated or angry that bills haven’t been paid.
”Firstly none of these debts have been earnt or recorded against the new entity. Its very important that we make it clear that Matchday is a separate business under new management and without Matchday’s intervention the situation could easily have progressed to a place where client funds could have been in jeopardy.
”The wagering industry would have been severely scarred and the naysayers would have had more ammunition if the worst had occurred.
”We can position ourselves as the saviour and part of the solution not the problem. If the partners want to progress further please point them in my direction or to Colby, his Amused address is still functional.”
