A commission worth five percent is all that is at stake in an ongoing dispute between online gambling group Gaming VC and an American merger and acquisition company called Fort Knox Consulting. And rumors of impending litigation are not the only worrying factors for Gaming VC. In a decision that a spokesman for the German firm says bears no relation to the dispute, chief executive officer Steve Barlow has resigned.

Insiders say Barlow’s resignation occurred after he and former director Scott Miller were named as individual defendants in Fort Knox’s suit. In a public statement, Gaming VC announced that Barlow was stepping down with immediate effect. However, he is expected to remain with the firm in the position of non-executive director.

Following the filing of its lawsuit in a Massachusetts state district court, Fort Know has announced that it is seeking unspecified damages for Gaming VC’s decision to renege on an alleged agreement to pay five percent commission for services carried out.

In response, Gaming VC statement vowed the firm will “rigorously defend the suit” and that the suit was not responsible for Steve Barlow’s departure as chief executive officer. Instead the firm told media that Barlow’s decision to resign was bounced on falling share prices.
“Barlow is a major shareholder and he thought it was time for a change at the top,” the statement read.

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