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5050 Poker Loses Microgaming License

Malta based poker site 5050 Poker Limited has had its Microgaming Poker Network license suspended due to to an alleged "material breach of contract".

No specific details have been revealed regarding the alleged breach, however Microgaming alleges that that 5050's Directors have known that they were in breach since June 14th.

While 5050 is currently suspended from its Microgaming license, the wagering software developer has not given up on its relationship with 5050. A statement by Microgaming reveals that 'Game play will be reinstated once the breach is satisfactorily rectified.'

5050 Poker has held a Microgaming poker software license since August 2009. Currently the site holds regulating licenses under both Curacao and Malta and is owned by 5050Poker Holding AB: a public company whose stock is traded on the NASDAQ OMX First North Exchange.

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