Since 2011, Odobo has been one of the online casino world’s leading distribution networks, providing online casinos with some of the best games from independent slots developers. Now, the company has sadly decided to shut its doors due to some financial difficulties.
While Odobo experienced a great deal of success in the online gaming market, the company found itself unable to keep up with the rising costs of running an online gaming business. As the industry continues to rapidly expand, it becomes more and more expensive for gaming companies to stay afloat – and, Odobo experienced this difficulty first-hand. In fact, earlier this year, the company’s senior executive team was looking for someone to buy Odobo.
“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,” reads a statement from Odobo. “As a result, we have made the very difficult decision to close the business”.
The company also ran into difficulty due to the fragmented nature of the online gaming industry. Each country around the world has its own rules for regulating online casino games. Since Odobo provided games developers with all of the tools required to operating in any jurisdiction where online gaming was legal, the differing laws around the world made it difficult for Odobo to stay on top of things.
The statement continues:
“It has become clear that marketplaces like ours require wider scale to survive in an increasingly complex and fragmented regulatory landscape”.
Odobo will cease transacting by May 31st , and the company’s offices will be closed on June 10th. The company has thanked the online gaming market for its support and is grateful for the opportunity it has been offered in the casino industry.