Issuing an official statement on its website (www.odobo.com), Gibraltar-based igaming mobile platform and HTML5 games provider Odobo has confirmed that it has shut its operations.
Founded by former bet365 Gaming Director Ashely Lang in 2011, Odobo aimed to become the leading casino mobile games distributor for regulated igaming markets.
Odobo a +50 Gibraltar employer confirms its official closure stating that it will stop all operations on 31 May, with the further closing of its offices on 10 June.
On its website, Odobo states the following regarding its termination of business.
“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.”
“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.”
The HTML5 mobile games specialist had secured multiple content partnerships with European operators, Mr Green, bet365 and Coral Casino.
In February industry news source Gaming Intelligence reported that Odobo senior management were seeking to sell the business for circa £25 million.