Video Game Hall of Fame Cancels This Year's Gala Weekend

After a grand opening that last year enshrined the first class of the International Video Game Hall of Fame and attracted nationwide media exposure, the IVGHOF has found it does not have enough money for an encore.

The Hall of Fame, based in Ottumwa, Iowa, is indefinitely postponing the "Big Bang" but says a second class of honorees will be voted on this year. A statement by the Hall says Big Bang 2011, originally scheduled for the first weekend of August, has been postponed "due to the lack of adequate revenues to operate the event and to continue operations to reach the goals of establishing the Hall of Fame.

"While the members of the IVGHOF are saddened by this development, we believe it is the right thing to do given the situation the IVGHOF is in," the statement read. "The IVGHOF will set a new date once our current financial obligations are taken care of."

Conceived in 2009, the International Video Game Hall of Fame offers Ottumwa as a kind of ancestral home for video games, given the cities ties to the early days of competitive arcade gaming and Twin Galaxies, founded as an arcade in Ottumwa before later becoming the international authority on video game high scores.

Video Game Hall of Fame Cancels This Year's Gala Weekend

The Big Bang 2011 will be Postponed [IVGHOF]