Administrators named to oversee Octavian
Mark Orton and Allan Graham have been appointed joint administrators of Octavian International, the holding company for a UK-based group that operates worldwide in the development and distribution of gaming software, systems and lottery solutions.
“The global economic downturn combined with specific gaming industry factors, including delays in expected regulatory and legislative change, have adversely impacted on Octavian's trading conditions and working capital requirements,” Graham said.
The company owns intellectual property and share capital in subsidiaries and partners that provide the group with a global presence, operating in more than 30 national gaming markets. The company operates under the OctaGames, OctaSystems and OctaLotto brands and is well-established in markets such as Italy, Argentina and Colombia, alongside research and development facilities in Russia.
The group consists of 169 employees worldwide and last year had turnover of US$11.7 million.