BC.Game has announced its decision to withdraw its Curaçao license, citing the “increasingly hostile environment for operators” on the Dutch Caribbean island. The cryptocurrency online gaming operator officially announced the withdrawal on December 5th, emphasizing that this decision will not impact its broader international operations. Bc.Game Bankruptcy Curaçao
This license withdrawal comes on the heels of a court ruling declaring BC.Game’s operating companies, Blockdance BV and Small House BV, bankrupt.
The company’s statement highlighted ongoing challenges in Curaçao’s iGaming environment. “Despite ongoing efforts to modernize Curaçao’s iGaming law, proper legal protection for all operators established in Curaçao is severely lacking,” it explained. The reference to the island’s outdated bankruptcy law, dating back to 1931, underscored the risks, as it can be “easily exploited by malicious actors and used against legitimate operators.” Bc.Game Bankruptcy Curaçao
In light of these developments, BC.Game has sought to clarify its financial status. “Contrary to recent rumours inaccurately circulated questioning BC.Game’s financial position, BC.Game further reaffirms to its stakeholders and the public in general that its financial position remains in good health,” the company stated. It also assured that “All BC.Game’s international operations remain unaffected and BC.Game will continue to fulfil all of its ongoing legal and financial obligations.”
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However, the operator has faced additional scrutiny. BC.Game’s site in the UK has closed, shifting its international operation to a new license from the Government of the Autonomous Island of Anjouan, Union of Comoros, with a new registration under Twocent Technology Ltd., established in Belize. This Anjouan license, however, comes with restrictions, barring service to players in several countries, including Australia, Austria, France, Germany, the Netherlands, the UK, and the United States.
Previously, BC.Game was ordered to exit the Netherlands under threat of an €840,000 fine, further complicating its operational landscape. The company is countering reports of legal troubles, including allegations of unpaid obligations and licensing violations, specifically aiming to address the claims related to player fund losses totaling over $2 million. Bc.Game Bankruptcy Curaçao
“We strongly disagree with the court’s recent rulings and will vigorously appeal the decision, as we believe it failed to adequately consider key facts,” BC.Game stated in response to these allegations. The operator’s internal investigation reportedly found inconsistencies in the claims made against it, asserting, “BC.Game is confident in our ability to demonstrate compliance and uphold our reputation as a legitimate operator in the industry.”
The company also reassured stakeholders of its financial stability, which includes partnerships with organizations such as Leicester City Football Club. The Premier League club has publicly stated that it remains in regular communication with BC.Game regarding the ongoing legal case, receiving “the strongest assurances that they are actively appealing this case” and that there are no liquidity issues.
