Leicester City sponsor BC.GAME withdraws from Curaçao after gaming licence threat

The crypto gaming operator claims Curaçao has an “increasingly hostile” environment for the sector.

Curaçao.- The embattled crypto gambling operator BC.GAME has announced that it has withdrawn its Curaçao gambling licence. It said the decision will not affect its international operations as it claims to have gaming licences in several jurisdictions, although it did not say which. 

The reality is that the Leicester City sponsor may not have had much choice – it had been reported that the Curaçao Gaming Control Board (GCB) was about to revoke the licence of Small House B.V, which operates the brand. The company had been declared bankrupt by Curaçao’s Court of First Instance In November after the player advocacy network The Foundation for the Representation of Victims of Online Gaming (SBGOK) brought a lawsuit alleging that the gaming brand had failed to pay out player funds. 

However, BC.GAME has taken the opportunity to have a dig at Curaçao’s new gaming licensing regime. It said it recognised that the market was being modernised but complained that there was a lack of legal protection for operators. “This dates to 1931 via the Curaçao Bankruptcy Decree, which can easily be exploited by malicious actors and used against legitimate operators,” it said. But it added that the island was shifting to an “increasingly hostile environment for operators”.

As for the decision to withdraw its licence it said: “As the global gaming industry faces an increasingly complex regulatory environment, this move is essential in enhancing and maintaining operational strategy to ensure continuity and to realign BC Game with suitably evolved and robust regulatory frameworks for the benefit of its international operations. Most importantly, it ensures the safety, reliability and security of service for BC Game users.”

The current stance appears to contrast with the enthusiasm with which the operator greeted its receipt of a new Curaçao gaming licence earlier in the year. At that time it said the move showed it was “adhering to international regulatory standards and ensuring a secure environment for users worldwide”. It also praised Curaçao for ditching its sub-licensing system and for requiring higher transparency and operational standards.

After being declared bankrupt, BC.GAME told Leicester City that it had “no issues with liquidity,” something it has now reasserted.

“Contrary to recent rumours inaccurately circulated questioning our financial position, BC Game further reaffirms to its stakeholders and the public in general that its financial position remains in good health,” it said. “Our international operations remain unaffected and BC Game will continue to fulfil all of its ongoing legal and financial obligations.”

Meanwhile, the Dutch island of Curaçao has denied claims of corruption related to its reforms of gambling legislation. Luigi Faneyte, of Curaçao’s opposition Real Alternative Party, had alleged that gambling licences had been issued with no legal basis.

The GCB said: “The GCB has the authority to grant, amend, suspend temporarily, revoke, or deny licenses, as well as attach terms and conditions to licences. The allegation that the GCB lacks the legal authority to grant a licence is therefore incorrect.”

In July, the Swedish gambling regulator Spelinspektionen banned Small House B.V. from supplying its gaming products in Sweden. It said the operator had been providing access to its bcgame.top website without the required certification.