BC.Game, a prominent crypto casino, was declared bankrupt by a Curaçao court on November 12, following allegations of unpaid player balances and a contentious transition of ownership.
The Joint Court of Justice of Aruba, Curaçao, Sint Maarten, and the BES islands ruled that Small House BV, the alleged operator of BC.Game, had entered bankruptcy earlier this month.
Legal Battle Led by Advocacy Group
The bankruptcy stems from a series of lawsuits initiated by international claimants represented by the Foundation for the Advocation of Victims of Online Gambling (SBGOK). The group, led by Dutch journalist Nardy Cramm, seeks to hold Curaçao-licensed operators accountable for player fraud.
In its ruling, the court stated: “Given the undisputed position of SBGOK et al. that BC.Game does not maintain a local bank account and/or reputable bank account in violation of the licensing conditions…it is sufficiently clear that [Small House BV] has ceased to pay.”
Allegations of Player Misconduct
The controversy began when BC.Game players from countries including Turkey, Indonesia, Costa Rica, and Austria raised concerns about alleged system malfunctions and misconduct that led to significant financial losses.
SBGOK argued that Small House BV, which reportedly acquired BC.Game from Blockdance BV in April 2024, failed to honor its obligations to players. Among the claims presented in court were alleged withdrawals of over $2.1 million from player accounts.
Small House BV countered, arguing that many claims stemmed from “bonus exploitation” or “software manipulation,” and asserted that these liabilities were not included in its acquisition of BC.Game. However, the court rejected these arguments as unsubstantiated.
BC.Game Responds
BC.Game has strongly denied the accusations. In a public statement, the operator claimed the allegations lack evidence and that internal investigations revealed inconsistencies in the claims.
The management team commented: “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 is confident in our ability to demonstrate compliance and uphold our reputation as a legitimate operator in the industry.”
Ownership Disputes
A significant aspect of the case revolves around the ownership of BC.Game. Small House BV claimed its acquisition was limited to assets such as the website and marketing operations, not liabilities tied to Blockdance BV.
However, the plaintiffs presented evidence suggesting operational continuity between Blockdance and Small House. This included inconsistencies in website registrations and public representations of Small House as the current operator. Blockdance’s LinkedIn page continues to list it as BC.Game’s owner.
Sponsorship and Wider Implications
Leicester City Football Club, a shirt sponsor of BC.Game, stated that its agreement with the casino remains unaffected. A club spokesperson said: “BC.Game has assured the club that the bankruptcy case is administrative in nature and does not reflect financial instability.”
Broader Impact on Curaçao’s Licensing Reform
The bankruptcy occurs amidst Curaçao’s efforts to overhaul its online gambling licensing framework, which has faced criticism for insufficient oversight. The case echoes the recent bankruptcy of former master license holder Cyberluck, also linked to player claims.
Additionally, BC.Game faced scrutiny earlier in the year from the Dutch gambling regulator Kansspelautoriteit (KSA), which attempted to impose an €840,000 fine for targeting Dutch players without authorization. Blockdance BV denied awareness of the fine and stated it was reviewing the matter.
The outcome of BC.Game’s appeal and its implications for Curaçao’s regulatory reforms remain to be seen.
Don’t forget to subscribe to our Telegram channel!
