Finnish-owned online casino operator closes doors following dispute with management company.
Tuesday 5th August 2008
Finnish online casino operator Aspiritus Gaming has announced the closure of its site at Aspiritus.com amid allegations that Internet casino and poker management company Inside Gaming has discontinued providing it with gambling services.
Under the terms of a ‘white-label’ agreement signed earlier this year, Inside Gaming was managing Aspiritus Gaming’s site under a Curacao licence with Playtech software but a statement at Aspiritus.com now reads that the site has been closed ‘due to unforeseen circumstances’.
“Every effort has been made to find another provider or partner that would enable us to implement new products as soon as possible,” read a statement issued by the Helsinki-based firm.
“However, our search has been futile to date due to time constraints on delivering new products, the cost of obtaining new licenses or a mixture of both.
“Over the last week, Aspiritus management has been reviewing the business and it is with great regret that we will have to close the Aspiritus business with immediate effect as the impact on the Aspiritus business of the recent contractual dispute and ultimate termination of the contract with our gaming operator has been devastating. The dispute has put Aspiritus under further financial strain and, after reviewing the cash flow of the business, the Aspiritus management team has been left with no alternative.”
However, Aspiritus revealed that it had reached an agreement with an unnamed gaming operator set to open an online presence later this month to transfer members into its database.
“As well as this, the Aspiritus management team continues to negotiate with this operator on how Aspiritus can secure a holding that would allow our members holding Club Equity credits to have some future ownership of the new company as well as migrating the VirtuDAQ and S8 + Superdraw products,” read a statement from Aspiritus.
