Parlay Entertainment has completed a series of transactions which provide for the divestiture of the online bingo company's non-core assets.
Parlay said the move follows a sustained period of investment and a subsequent change in the regulation of certain markets.
"Certain assets which include licensing arrangements with legacy customers who offer internet gaming services into non-regulated jurisdictions have become non-core assets," the company said.
Parlay said it has now divested itself of these assets and will no longer offer its software to gaming operators who do not operate within regulated jurisdictions.
The divestiture includes the sale of certain software licence agreements, as well as the sale of certain non-exclusive, limited and personal rights in some of Parlay’s older software technologies.
The total consideration to Parlay from the divestiture is US$2.8m.
