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The chief executive of European internet casino firm Gaming VC has stepped down after a lawsuit was brought against him and the company in the United States.
The gaming group said yesterday the lawsuit had been filed by Fort Knox Consulting, which alleged that Gaming VC had wrongfully failed to acknowledge an alleged agreement between it and Fort Knox to pay a commission of 500 basis points on any deals made with 13 gaming companies.
The litigation also named Steve Barlow, the company's chief executive who stepped down yesterday, and former director Scott Miller as individual defendants, alleging they interfered with the agreement.
Gaming VC said it would vigorously defend the lawsuit, which was filed in Massachusetts, USA, where Mr Barlow and Mr Miller both live.
The finance director Gerard Cassels and chief marketing officer Paul Hambelton will jointly run the company until a new chief executive is found.
Adrian Smith, a non-executive director of Gaming VC, becomes chairman.
Mr Barlow remains on the board as a non-executive.
- INDEPENDENT
