Microgaming Suspends Online Poker Site’s Licensing for Software

'Material breach of contract' stated as reason

According to a statement from the Microgaming Poker Network, the work of its licensee 5050 Poker Limited has been suspended as the operator is in 'material breach of contract', and its directors have been aware of the fact since June 14 this year.

However, the statement further indicates that not all hopes have been dashed for the network: 'Game play will be reinstated once the breach is satisfactorily rectified.'

5050 Poker Limited is owned by 5050Poker Holding AB, whose stock is available on the Nasdaq OMX First North exchange. The management list of this company founded in March 2007 includes Patrick Sjögren (CEO) and Meta Martinsson (CFO), with the operational base in Malta. The site offers online poker, casino and sports betting services under LGA Malta and Curacao licensing.

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