Online Gaming chief forced to quit

[Ian_go]

The chief executive of the internet casino firm Gaming VC has stepped down after a lawsuit was brought against him and the com-pany in Massachusetts.

The gaming group said yesterday the lawsuit had been filed by Fort Knox Consulting, which alleged that Gaming VC had wrongfully failed to acknowledge an alleged agreement between it and Fort Knox to pay a commission of 500 basis points on any deals made with 13 gaming companies.

The litigation also named Steve Barlow, the company's chief executive who stepped down yesterday, and former director Scott Miller as individual defendants, alleging that they more

[jetset]

CASSELS TO RUN VC GAMING

Finance director will run company until Barlow replacement can be found

The shock resignation of Gaming VC chief executive officer Steve Barlow this week (see previous InfoPowa reports) has resulted in temporary management changes until a replacement can be recruited.

Barlow resigned amid growing indications of litigation in Massachusetts on M&A commissions with the American consultancy Fort Knox Consulting.

The finance director Gerard Cassels and chief marketing officer Paul Hambelton will jointly run the company until a new chief executive is found.

Adrian Smith, a non-executive director of Gaming VC, becomes chairman. Barlow remains on the board as a non-executive director.

[mucullus]

Casino Club must be one of the most successful casino operators in Europe. They claim to be "larger than William Hill, Sportingbet and Bet 365 from a single market position" with "58,000 active customers and more than 100,000 registered users".
They have a high profile in the German speaking markets but are relatively unknown to the rest of the world. Their annual report 2005 shows a net profit of €13.4 million.