5050Poker contract terminated by Microgaming

5050Poker contract terminated by Microgaming

Tuesday, 26 June 2012

Online gaming software provider Microgaming has terminated its contract with online poker site 5050Poker with immediate effect.

Microgaming said that the decision relates to 'a material breach of contract' by 5050Poker regarding 'non-payment of monies owed to cure their overdrawn network clearing account'.

“Although 5050Poker Limited was given the opportunity to rectify the breach so that the suspension could be lifted, they have failed to respond,” read a statement from Microgaming, “As such the Microgaming Poker Network had no choice but to terminate the contract.”

5050Poker had previously accused Microgaming of 'unethical conduct'. In a statement released last week it said, “players' confidence in 5050Poker (is) damaged with major negative economic consequences. The ability to operate in a businesslike way, in the short term are severely restricted.”

Microgaming had previously suspended game play at 5050Poker on 14 June.

Tags: Microgaming, 5050Poker, regulation, legal