Andrew Andronikou and Peter Kubik of UHY Hacker Young have been appointed joint administrators after that World Gaming said it was impossible to continue in business as its US facing operations contributed the overwhelming majority [95%] of the company\’s revenues for the year to date.
The secured creditor [Barclays Bank] concluded that it was reasonably likely that administration will achieve a better result for World Gaming\’s creditors than if the company were to be wound up.
Daniel Moran, David Naismith, Jonathan Moss and Michael Cumming each resigned from the board of World Gaming as Chief Executive Officer, Chief Financial Officer, Sales and Marketing Director and non-executive director, respectively.
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