Curaçao Regulator Poised to Revoke BC.Game’s Licence

BC.Game, a high-profile crypto casino and Leicester City’s shirt sponsor, faces a potential licence revocation by Curaçao’s regulator.

Financial disputes, compliance questions, and bankruptcy proceedings have cast doubt on the operator’s standing in the global gambling market.

With its Curaçao licence in jeopardy, BC.Game’s operations and reputation hang in the balance amid escalating scrutiny.

Explore the ramifications of this regulatory move and its potential impact on BC.Game’s future in the online gaming industry.

Curaçao May Revoke BC.Game Licence Amid Bankruptcy and Compliance Issues

Key Points:

1. Licence Revocation Threat: Curaçao’s regulator has signaled its intent to revoke BC.Game’s licence over financial and compliance concerns.
2. Leicester City Sponsorship: The football club continues to support BC.Game despite its ongoing legal and operational challenges.
3. Ownership and Compliance Issues: Disputes over BC.Game’s ownership and bankruptcy proceedings have heightened scrutiny from regulators and stakeholders.

Curaçao Regulator Moves to Revoke BC.Game Licence

The Curaçao Gaming Control Board (GCB) has announced its intent to revoke the gambling licence of BC.Game, a leading crypto casino and Leicester City Football Club’s shirt sponsor. The decision follows a series of regulatory and legal challenges that have placed the operator’s financial and operational compliance under intense scrutiny.

According to documents obtained by Gaming News, BC.Game, operated by Small House BV, has until 29 November to provide a compelling defense to the GCB. Failure to do so could result in the withdrawal of its Curaçao licence, a move that could severely impact its global operations.

Financial Troubles and Bankruptcy

Earlier this month, a Curaçao court declared Small House BV bankrupt, citing its failure to repay players and unresolved controversies surrounding its ownership structure. This ruling has only intensified the challenges for BC.Game, raising concerns about its ability to maintain operational stability.

The Foundation for the Advocation of Victims of Online Gambling (SBGOK) spearheaded legal actions against Small House, representing international claimants who allege financial misconduct. The bankruptcy ruling has since led to the appointment of a trustee to manage the company’s assets, sidelining BC.Game’s legal team from the proceedings.

In response, BC.Game has strongly denied the allegations, stating:

“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. We are confident in our ability to demonstrate compliance and uphold our reputation as a legitimate operator in the industry.”

Impact on Leicester City Sponsorship

Despite the turmoil, Leicester City Football Club has reaffirmed its support for BC.Game. The club emphasized assurances received from the operator regarding its financial stability and ongoing commitment to fulfilling contractual obligations.

A club spokesperson stated:

“BC.Game has assured us that the bankruptcy ruling is administrative in nature and does not arise from concerns about their liquidity or financial standing. This will not impact their continuing international operations or obligations to the club.”

However, should the GCB proceed with the licence revocation, BC.Game’s flagship crypto casino operations could face significant hurdles. Without a valid Curaçao licence, the company may struggle to secure financing, maintain banking relationships, and operate in regulated markets.

Ownership Disputes and Compliance Concerns

Adding to BC.Game’s challenges is the ambiguity surrounding its ownership. Small House BV has claimed in court filings that it acquired the brand’s assets from Blockdance BC in April 2024 but excluded liabilities from the deal.

This assertion has been disputed, with conflicting reports suggesting that Blockdance may still be involved. Notably, Blockdance’s LinkedIn page continues to list BC.Game as its primary brand, further fueling speculation about the casino’s true ownership structure.

The GCB’s decision to move toward licence revocation appears aimed at mitigating its exposure to the fallout from the bankruptcy while protecting stakeholders and maintaining the integrity of Curaçao’s regulatory framework.

The potential revocation of BC.Game’s Curaçao licence marks a critical moment for the crypto casino and its operations. While the operator continues to assure stakeholders of its financial stability and commitment to compliance, the escalating regulatory and legal challenges pose significant risks to its future.

As BC.Game navigates this tumultuous period, the broader implications for the online gambling industry in Curaçao and its reputation as a regulatory hub are becoming increasingly evident. Whether BC.Game can salvage its standing and maintain its international operations remains to be seen, but the stakes could not be higher for one of the industry’s most prominent crypto casinos.