Odobo to shut down in next few days
Supplier says rising costs and lack of scale is behind closure of business
Odobo will close for business in the next few days, with the supplier citing a lack of scale and rising costs for the “very difficult decision”.
In a statement on its website, the firm said it will cease operations on 31 May and close its two Gibraltar-based offices on 10 June.
“As our industry has evolved, it has become clear that marketplaces like ours require wider scale to survive in an increasingly complex and fragmented regulatory landscape,” the statement read.
“We needed to recognise that the velocity with which the business was growing was outpaced by the costs associated with providing the services that Odobo offered.
“As a result, we have made the very difficult decision to close the business.”
News of the closure comes after the firm, which was launched in 2011, had attempted to find a buyer for the business earlier this year.
The supplier specialised in the development of HTML5 games and worked with a number tier one operators including bet365 and Gala Coral.
“In 2011, we set out to disrupt and improve the way games are produced, distributed, marketed and enjoyed in regulated gaming,” today’s statement said.
“We aimed to address many of the challenges, costs, and barriers associated with content production while improving and expanding the quality of the games offered to casino players.
“Many operators and developers supported this vision; we have had the privilege of integrating with some of the industry’s biggest casinos and working with dozens of talented studios to bring their games to market.
“To date, hundreds of thousands of players have enjoyed games built using Odobo technologies.
“We are proud of what we have achieved together and are grateful to the investors, developers, operators and suppliers who have been part of our journey.”