Paris Saint-Germain (PSG) has initiated a bankruptcy lawsuit against AK Global NV, the parent company of its former sponsor CBET. The case is scheduled to be heard on January 22 by the United Court of Curaçao.
PSG and CBET had entered into a regional sponsorship agreement in Latin America in December 2022, lasting one season. Although the contract has since expired and PSG no longer lists CBET as a sponsor, the operator continues to claim affiliation with the football club on its social media and website.
Reports have also surfaced that CBET failed to pay a €5 million fine imposed by Spain’s gambling regulator, DGOJ.
CBET Faces Regulatory Challenges
Previously, CBET operated under a sublicense tied to a master license holder for gambling services in Curaçao. However, due to ongoing regulatory reforms in the island’s gambling sector, the master license expired in August 2024, leaving AK Global NV without a valid operating license.
CBET, which lacks authorization to operate in France or the UK, no longer displays any active gambling licenses on its website.
Similarities to BC.Game Case
The CBET bankruptcy filing mirrors a recent case involving BC.Game, a cryptocurrency casino and Leicester City’s sponsor. In that instance, BC.Game defended its position following a bankruptcy ruling, labeling it an administrative issue.
BC.Game had ceased operations under its UK TGP Europe license, and Curaçao’s Gambling Control Board (GCB) issued a notice of intent to revoke its license. The current license for BC.Game’s flagship offshore casino remains a temporary permit issued earlier this year.
Regulatory Scrutiny
Curaçao’s gambling regulator has faced criticism regarding its oversight processes but has strongly denied allegations of misconduct, emphasizing the fairness of ongoing legal proceedings.
BC.Game’s representatives recently met with regulators to present their case, with sources indicating a final decision is expected by the end of the week.
As for PSG’s case against CBET, the outcome could set a precedent for how sponsorship disputes tied to gambling operators are handled amid regulatory upheavals in Curaçao.
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