The Green Jade Group has announced on Linkedin that it will be closing down its online games studio. The company was first formed back in 2017 and while it has had moderate success, it has failed to develop any hit titles in the world of online gambling.
Who is the Green Jade Group?
The Green Jade Group, which is based in Malta, has been in operation since 2017 and aimed to deliver new and exciting online games that would “change the face of gambling content.” There were over 20 nationalities working at the Green Jade Group to make it great and it had managed to obtain licences in the UK, Malta and in Greece.
One of the company’s biggest gaming hits was Hammer of Fortune. This is a unique slot game and it was one of the first to be story-driven. As players played the game, they would also progress through the chapters of the story which coincided with the gameplay to provide a truly immersive online gambling experience.
It was only in October of 2022 that the company announced a business merger with Gameco. However, just six months later the company is closing its doors.
Why the Green Jade Group Is Closing
While the Green Jade Group developed a solid gaming catalogue, the company itself has admitted that it made some mistakes which have led to its closure. One major issue was not creating a base of lucrative games fast enough to keep the company going. Many competitors are now releasing four or five games per month to keep up with player demand for new features and game mechanics.
The CEO and Chairman of Green Jade Games, Benedict McDonagh, also admitted in his Linkedin post that while the company had created a range of fantastic gaming products, it did not launch a hit title. This caused problems for the company later down the line and has resulted in its closure.
In the announcement of its closure, it was not disclosed what would now happen to the Green Jade Group catalogue of games. The company may decide to sell off aspects of its services such as individual slot games, IPs, modules and more.