PlayUp has filed for a restraining order against its former US CEO Dr. Laila Mintas, for killing a potential $450 million sale to FTX following failed personal contract negotiations. The suit also alleges that Mintas threatened to “burn PlayUp to the ground” after her demand to be installed as global CEO was rebuffed.
According to a lawsuit filed November 30th in Nevada, PlayUp started discussions with FTX for the sale of certain assets back in August. However, Mintas contacted FTX founder Sam Bankman-Freid to warn him against the deal. Per the complaint, she told him: “There is conflict within management of PlayUP, there are systemic issues, and that the company is not clean.” That ultimately caused the deal to fail, PlayUp claimed in the suit.
The Australia-based operator said Mintas sabotaged negotiations because she was unhappy with her own remuneration. Per the suit, near the conclusion of her initial two-year contract, Mintas requested PlayUp’s global CEO position. That would have required terminating current CEO Daniel Simic. She then made several absurd requests, including doubling her salary from $500,000 to $1 million, and an increase in PlayUp stake of 15%. When PlayUp did not agree to the terms, Mintas allegedly sabotaged the FTX deal. She also threatened to “damage PlayUp’s reputation to gaming regulators, commercial partners, and customers.” Per the suit, Mintas told PlayUp that FTX had offered to do a deal directly with her. She believed she could take various licenses with her and threatened to “burn PlayUp to the ground” amid the negotiations.
Mintas’ contract expired at the end of November and she is no longer with the business.
(All information was provided by Legal Sports Report)
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