Gibraltar-based online gambling firm BetVictor has closed its in-house live dealer casino after less than two years of existence.

A BetVictor spokesperson said the decision had not been “taken lightly” but was necessary to “ensure the long term sustainability of our business.” The in-house product “did not deliver sufficient value in innovation or differentiation to justify its cost when compared to third-party providers.” BetVictor will continue to offer live dealer products from suppliers Evolution Gaming, Microgaming and Net Entertainment.

Betvictor’s live dealer product launched in October 2013 in conjunction with MediaLive, making BetVictor the first operator to open its own in-house live dealer studio. The closure affects around 50 staff members, who have been offered comparable positions in Malta and Belgium.

EVOLUTION IPO?

Meanwhile, Evolution Gaming is reportedly preparing for an initial public offering. Investment watchers GlobalCapital reported that Evolution management plans to sell some shares on Stockholm’s NASDAQ First North Premier market with an eye towards an eventual IPO. Evolution reportedly isn’t planning on raising any new capital via the premarketing phase but global institutional investors would get a crack at owning a piece of the company. Evolution has yet to confirm or deny the report.

Evolution recently launched a second live casino environment for UK bookies William Hill at Evolution’s facility in Riga, Latvia. The new operation went live last month and features two tables (one blackjack, one roulette) accessible 24/7 via desktop, smartphone or tablet. Hills has been an Evolution client since 2011.

MEDIALIVE APPOINTS JOHN GALAJSZA