Swedish video game and interactive entertainment developer Gaming Corps’ relationship with PlayMagic Ltd. has reportedly soured with a termination of a collaboration agreed in June 2018.
The companies partnered to develop a product line for the gaming market within the casino slots category, however, Gaming Corp says PlayMagic hasn’t fulfilled its part of the deal and it is not expected it to do so in the future.
Gaming Corps will seek other partnerships to deliver on its strategy, Chairman of the Board, Claes Tellman said.
“… we believe that this particular cooperation did not have any prospects of performing according to agreements.”
Gaming Corps said it will invoice PlayMagic Ltd for an advance of Euro 72,000 it made and call for the immediate repayment of a Euro 50,000 loan due for payment on March 27, 2019 since the cooperation has ended early.
PlayMagic Ltd said it disputes both invoices to which Gaming Corps said it will consider legal action to recover the amounts it believes are owing.
The work-for-hire company is led by chief executive officer and creative director Giuseppe Crugliano.