22nd of September 2010 Author: Ava Jackuard
An early exit for one member of a tripartite alliance
The online gambling alliance signed in March this year by Swedish software developer NYX Interactive, Cashball and trivia and bingo games supplier Amuso has encountered a serious stumbling block with the reported failure of the latter.
The news broke this week that Amuso has gone into voluntary liquidation, citing material problems with outsourced software and financial difficulties. The situation apparently led to principal investor, Mangrove Capital Partners, deciding not to support the company further. Several other investors will be impacted by the failure of the company, along with its partners in the online venture.
Amuso personnel have been let go.
The alliance with Cashball and NYX was intended to create a trivia gaming network integrated with the online bingo and casino offerings of the partners, resulting in a rounded entertainment site for online players. The alliance committed to an extensive marketing campaign in support of the new venture.
Amuso's chief executive, Barak Rabinowitz, has been quoted as saying that Amuso had a healthy 200 000-strong player base entering the venture.
'We had issues particularly around the payments, deposit and withdrawal process,' he told EGR this week. "You can have the best games but this is really a key point in the chain.'
The Amuso site will remain active until the end of September in order to give its players time to withdraw balances, and has made arrangements to put the company and its assets - which include intellectual property - up for sale. The proceeds will go to creditors and investors.
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