Curacao-licensed crypto casino and sportsbook BC Game has contested a court ruling that pronounced the two companies behind it bankrupt.
Bankruptcy Petition
A player advocacy network, the Foundation for the Representation of Victims of Online Gaming (SBGOK), filed a bankruptcy petition against BC Game in October. The petition, which Curacao’s Court of First Instance heard, relates to BC Game’s new parent company, Small House failing to pay over $2 million in player winnings.
In a statement, BC Game stated, “We strongly disagree with the court’s latest rulings, and we will spare no expense to appeal this erroneous judgment which failed to give due consideration to facts. We are confident that justice will ultimately prevail.”
One of the SBGOK’s claims relates to non-payment of player winnings worth $10,948 by Blockdance. However, Blockdance insisted it had credited the player and argued that it had handed over control of the BC Game in April 2024. SBGOK contended that the player losses were due to system issues and questionable practices.
The court, however, was not convinced by these arguments and adjudged that both companies failed to meet their financial obligations and declared them bankrupt. The bankruptcy process will see unpaid players paid off.
New Owner Denies Responsibility for Past Debts
Small House acquired BC Game in February from its previous owner, Blockdance BV, and the case relates to paying player winnings before and during the transition. The new owner maintains that it has acquired the website and the right to operate it, but the deal does not involve paying past player debts.
“The allegations lack sufficient supporting evidence, with many claims based solely on unverified statements. Our internal investigations have revealed discrepancies in the cases cited by the plaintiffs, with most accusations lacking a clear legal or technical basis,” BC Game said.
In reaction to the court’s pronouncements, BC Game said that it has no liquidity problem and that its sponsorship deals will stay on track. BC Game reportedly paid $40 million for the front-of-shirt sponsorship of UK’s Leicester City Football Club. Besides, it is also one of the sponsors of esports teams Cloud9 and GuardiaN.
