This week, Odobo will be closing its doors. The online pokie distribution network has been forced to cease operations, as it’s running costs become too expensive to keep up with. Despite partnering with some of the biggest online gaming operators, Odobo simply couldn’t stay viable in the online casino business. Odobo will cease operating on May 31. By June 10, Odobo’s offices will be shut down and closed completely.
This is quite shocking news for the online gaming world – but it shouldn’t really come as a surprise; in January 2016, it was reported that Odobo’s senior management were looking to sell the company for at least £25 million. Launched in 2011, Odobo was a distribution network that provided online casinos across the web with great games from independent developers.
The company provided a full solution for designers, helping to produce, market, regulate and distribute their games. Odobo and its partners experienced tremendous success but encountered some obstacles that arose from maintaining its running costs. The company updated its website, which now consists of a single page.
It offers up a statement from Odobo, explaining the situation: “It has become clear that marketplaces like ours require wider scale to survive in an increasingly complex and fragmented regulatory landscape,” the statement reads. “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”. Odobo’s statement ended with the company thanking the gaming industry for its support: “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”. The closure of Odobo will certainly have a significant effect on the online gambling market.
Smaller companies like FUGA Gaming Technologies, Foxium and Lost World Games will have to find another way to distribute their games to casino operators across the web. There are still some options available, like Microgaming’s Quickfire and NYX’s OpenBet platform. Aside from the statement on its website, Odobo has yet to make any further comments on the closure of the business.
As this story develops, we will keep you updated with more information about Odobo, its games and its staff.