Microgaming terminates 5050poker contract
Operator had been suspended from network after reaction to two-table player limits; claimed to have left of its own accord last week.
The Microgaming Poker Network has terminated the contract of network skin 5050poker, one week after the Swedish-listed operator claimed to have left the network of its own volition.
Microgamining explained in a statement today: “The decision was taken after giving 5050Poker Ltd over a week to redress a material breach of their contract, being the non-payment of monies owed to cure their overdrawn network clearing account.” The termination of the contract has come into effect immediately.
Last week Microgaming announced it had suspended the skin, just days after 5050poker had itself issued a statement with regards to a decision from the network to decrease players’ table caps from 10 to two on selected skins.
The operator said at the time that it: “Believes that the measure is yet another example of several discriminatory measures taken by Microgaming in order to get rid of unwanted gaming operators (whose players mostly belong to the category winning players).”
Microgaming has claimed that it gave 5050poker the opportunity to “rectify the breach [of contract],” but that the operator’s failure to respond led to the termination. eGaming Review has been unable to reach 5050poker for comment.
It is the second Microgaming skin to leave the network this year after Purple Lounge moved to the IGT network in January. Purple Lounge parent company Media Corporation has since announced plans to liquidate the subsidiary, but is yet to announce plans to repay player funds.
5050poker’s most recent press release explains that a balance sheet has been established “for liquidation purposes”, although at the time it mentioned it was still “Investigat[ing] the possibility of making financial demands on Microgaming corresponding to the damage caused to the 5050 Poker.”
The termination of 5050poker’s contract comes just days before Microgaming’s new rake allocation model, True Value, is set to come into force. The system is expected to encourage operators on the network “ which currently include Ladbrokes, Stan James and Unibet “ to attract more recreational players.