BC.Game Set to Lose Curacao Gaming License?
The Curacao Gaming Control Board is about to withdraw BC. Game’s license for a series of infractions and failure to comply with regulations, according to sources.
Small House BV, the parent company, was slammed into bankruptcy last week by the Curacao courts, alongside former parent company Blockdance BV. The case revolved around $ 2 million in player funds, for which both companies tried to shirk responsibility.
Curacao’s bankruptcy court had none of their defenses, blaming the other and placed a bankruptcy order on both companies. Now, the GCB is looking to limit the damage and revoke the company’s gaming license.
Too Big to Fail?
BC.Game is a big company with revenues estimated to be well in excess of $100 million a year. So, this is far from the end for the company that sponsors both Leicester City in the Premier League and the Argentine national football team. The GCB has given the operator until Friday, 29 November, to clarify its position and give a serious set of reassurances about its available funds and the ability to settle these outstanding debts.
Now BC.Game should be able to provide those assurances, but the GCB has also mentioned user confidence in the Curacao license and stakeholder confidence in BC.Game and how it has handled its finances to date.
“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,” said a management statement this week. “BC.Game is confident in our ability to demonstrate compliance and uphold our reputation as a legitimate operator in the industry.”
Where Did BC.Games Problems Start?
A transfer from Blockdance BV to Small House BV was messy in hindsight, with Small House taking no responsibility for certain liabilities when it took over the brand in April 2024. Essentially the companies played hot potato with two players’ substantial funds.
That has backfired spectacularly, and a trustee has already been appointed to take control of Small House BV post-bankruptcy. Rumors are swirling that Small House’s own team will simply be locked out of the process, and that could be a major problem.
For its part, BC.Game has highlighted a lawyer who has made a living filing lawsuits against Curacao’s thriving online gaming industry; The company also suggested inconsistent evidence, as well as its own commitment to appealing pretty much all the verdicts that went against it last week.
Is This Just Administrative?
The company also reiterates that it’s business as usual online, with the casino guaranteeing player deposits and committing to fair play, anonymous gambling, and the big bonuses the casino is famous for. The ongoing claim that this is simply an administrative procedure and there’s nothing to see here is starting to ring a touch hollow, though.
“This is solely an administrative process related to a legal case, and we are actively appealing this judgment as we have assured our users and partners,” said an official statement on the casino site. “BC.Game has no issues with liquidity, financial standing or adhering to any of its existing contractual obligations. BC.Game continues its international operations as usual, maintaining business continuity and our commitment to users worldwide.”
For the moment, BC.Game continues to operate, but losing its license in Curacao would be a severe blow to one of the best crypto gambling sites on the market. Right now, it looks about as bad as it realistically could, but there could be some twists and turns to this story, and this story is far from over.
