Odobo forced to close over costs

Odobo forced to close over costs

Tuesday, May 31, 2016 Totally Gaming
CEO Ashley Lang founded Odobo five years ago

Odobo has cited the financial demands of running its gaming content marketplace as the reason for its decision to cease operating.

The company had agreed distribution deals with operators such as Bet365, Betfair, Coral and Unibet since launching in 2011. It also last year told TotallyGaming.com that more than 100 studios had applied to its developer programme.

In a statement on its website, Odobo said it believes a “wider scale” is required to successfully operate a gaming marketplace to the sector.

Odobo said that although it had set out to address “many of the challenges, costs and barriers associated with content production”, costs have got too high and it has been forced to close its doors.

“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,” Odobo said.

“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, led by founder and chief executive Ashley Lang, stopped transacting today (Tuesday), with its offices to close on June 10.

The company statement read: “This decision was not taken lightly and we sincerely regret that it affects the partners and clients that have supported us.

“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.”

TotallyGaming.com says: “Odobo’s statement is an interesting one, not least its claims about the financial and regulatory requirements of successfully running a gambling platform.”

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