David Chang, CEO and Founder of the gaming and real money gambling app store Betcade announced the company will shut down at the end of January.
Chang did not give a specific reason for the store’s closing, but thanked stakeholders and said he remains excited about the ‘future of the gambling industry’.
The app store launched in December 2015, the company hoped to fill a niche in the gambling market by offering gambling apps which may have faced download restrictions from mobile system providers. It was considered a unique start-up for the industry.
“Start-ups seek to positively influence the industry which they are in however this comes with considerable risk as a business,” Chang said in his statement. “After evaluating our options, it was determined that the best course of action for the company was to close the business in an orderly manner and look after our people the best we can.”
