Fantasy esports gambling company Vulcun lays off 14 members of staff

Esports gambling company Vulcun has laid off 14 of its 55 member staff, a move that is a result of a new company direction, according to local media.

Vulcun is a fantasy esports betting company, which allows players to a bet on video game tournaments such as League of Legends, Starcraft 2, Dota 2, among others. Industry insiders say the move is a direct result of Vulcun, no longer offer real money fantasy games, which will take effect on Jan. 14.

“The company is transitioning to a new direction, and unfortunately this is a painful but necessary part of the process,” co-founder Ali Moiz said in an email to The Verge. “We’ll have more announcements about our new direction coming shortly in the next few weeks,” he added.