Internet gaming marketplace Odobo has announced that it will be closing its doors at the end of the month, citing high costs and a fragmented market as key reasons for the closure.
In a message posted to the company's website Odobo management wrote:
"In 2011, we set out to disrupt and improve the way games are produced, distributed, marketed and enjoyed in regulated gaming. 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.
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.
Odobo will stop transacting on 31 May 2016 and close our offices by 10 June 2016. 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.
Thank you all for your support."
The Odobo platform allowed independent game developers a platform to distribute their games, while also allowing operators the chance to nitpick the games they wanted without having to adopt a developer's entire platform. The company had signed some big name developers and casinos along the way, but growth was hampered by high costs.
The company was reportedly looking for an investor or gaming company to pick them up, but nobody stepped forward. As a result, the two Gibraltar offices will be wound down by June 10th.
Casino Listings will update this story should more developments arise.