Microgaming, one of the big names and one of the leading companies in the world of online gambling had issued a statement that confirmed that Microgaming has indeed terminated the contract it had with 5050Poker. The statement included the reasons. As stated by Microgaming, this decision came as a result of a major material contract breach on the side of 5050Poker. This breach was related with the non-paying of funds owed to overdrawn network clearing account.
The statement also included that 5050Poker was given the chance to correct this breach after Microgaming suspended the license. Microgaming suspended 5050Poker gaming license on the 14th of this month. Nonetheless, 5050Poker did not rectify the breach to lift that suspension which resulted in the termination decision. Microgaming had no other choice but to terminate the deal they had because 5050Poker was unresponsive.
On the other hand, 5050Poker had once accused Microgaming of ‘unethical conduct’. This accusation was stated during an announced that as released by 5050Poker last week. The statement said that the confidence of the players in our company is going to be negatively affected by the bad economic situation.