as far as i am aware, toontown has been around longer, it opened in like 01 or 02, not quite sure.
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Either way something will come around by Disney ahah
they have like 4 or 5 virtual games (haven't a clue as to what they are - just from what i've read) and they're shutting them all down to focus on club penguin. i think they've always like had a hit with finance on that part of the company or whatever and it's why they're closing 'em, so it seem unlikely that they'll make some more :'(