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In a statement to Kotaku responding to the SWT team's open letter, Nintendo said, Unfortunately after continuous conversations with Smash World Tour, and after giving the same deep consideration we apply to any potential partner, we were unable to come to an agreement with SWT for a full circuit in 2024.
According to Smash World Tour, Nintendo claimed that a license be granted "well in advance" of a public announcement in order for commercial events to be operated featuring Nintendo's intellectual property, and that the Smash World Tour had failed both health and safety guidelines and "internal partner guidelines", ...