Upgaming AG is aware of reporting published today by international media outlets concerning alleged unlicensed online gambling websites and references to one of our clients. We want to address that reporting directly.
Upgaming is a business-to-business software company. We develop and license online gaming technology, including website, sportsbook, and casino infrastructure, to operators in multiple markets. We do not own, operate, or control consumer-facing casino or betting websites.
Our agreements require clients to comply with applicable laws, regulations, and licensing requirements in the jurisdictions in which they operate. Where credible information indicates that a client may not be meeting those obligations, we review the matter and take appropriate action.
In March, we were contacted with concerns regarding one of our clients. We took those concerns seriously, conducted a review, and subsequently terminated the commercial relationship.
Upgaming has built its business over many years through great technology, long-term partnerships, and a deep commitment to responsible market participation. We take our responsibilities seriously and will continue to act accordingly.