The Gibraltar-based games developer and content marketplace Odobo cased operations due to unmanageable running costs.
Launched in 2011, by founder and CEO Ashel Lang, Odobo has stopped transacting yesterday with its offices to close by the 10th of June 2023.
Odobo said that although the company had set out 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”, costs have got too high and the firm has been forced to close its doors.
“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 2023 and close our offices by 10 June 2023. 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.”
Over recent months many of Odobo’s leading staff and executives had left the company spelling troubling times for the company, it is not clear what will happen to any of Odobo’s clients and current services offered.
