After a year without a licensee Wizard Gaming announces asset auction.
Wizard Gaming, the Isle of Man registered online gaming software provider, recently announced the upcoming auctioning off its assets. This turn of events is the result of a year without a licensee after Wizard Gaming lost its only casino operator in 2009.
In August 2009 All Star Slots moved from Wizard Gaming to Realtime Gaming.
The company explored other options while attempting to find another casino operator to serve as licensee but came up short and decided that a public and open auction was the only choice left. The auction will have a starting bid of $300,000.
The company directors are hoping a new owner will be able to take the company reigns and find a way to commercialize software that took four years and $5 million to develop.
The assets that will be put on the auction block include IP rights (which include the master copyright on all the components of the software), software components such as graphic and audio content for the games, and the back end for the (including affiliate API, card processor and eWallet integrations), and the operator.
Whoever purchases the assets will get in addition to the live games a portfolio of slot games in development, which is about 50% complete.Domain names Wizardgaming.com, Wizardgaming.co.uk and SlotsCountry.co.uk are all part of the asset package.
Wizard Gaming's first casino operator was Gold Rock Casino, which launched in 2008. This was followed by the launch of All Star Slots later that year. Gold Rock Casino was the first to leave, having switched to Rival Gaming. Then Wizard Gaming has excellent software and it would be a pity if it fails to find a buyer.