|Microgaming Suspends Software Licence of 5050 Poker Limited|
Microgaming has suspended the software licence of Microgaming Poker Network member site 5050 Poker Limited due to a “material breach of contract”.
Microgaming released a statement confirming the suspension of operations for 5050 Poker Limited on the Microgaming Network and also stated that the owners of the site had been aware that they were in “material breach of contract” since Thursday 14th June, 2012.
Microgaming Poker Network stopped short of completely revoking 5050 Poker Limited’s software licence but the statement did say “Game play will be reinstated once the breach is satisfactorily rectified”. No further information has been given on what the stated breach of contract involves.
5050 Poker Limited was established in 2007 and the owner of the site is listed as 5050Poker Holdings AB with stock available on the Nasdaq OMX First North Exchange. Patrick Sjogren and Meta Martinsson are stated as the CEO and CFO respectively with operations based in Malta.
The company has been a member of the Microgaming Poker Network since August 2009 and it remains to be seen if the online poker site will contest the software licence suspension or make the necessary changes to be allowed to operate once more.
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