BC.Game Denies Bankruptcy Allegations Amid Curaçao Court Ruling
Cryptocurrency gambling operator BC.Game has strongly refuted a recent court ruling in Curaçao that declared it bankrupt. The decision, issued by the Court of First Instance, stems from allegations brought by The Foundation for the Representation of Victims of Online Gaming (SBGOK). The advocacy group accused BC.Game of unpaid player funds exceeding $2 million and failure to meet financial obligations after its acquisition by Small House BV earlier this year.
Legal Challenges and Allegations
The court ruling implicates both Small House BV, BC.Game's parent company since April and its previous owner, Blockdance BV. The allegations include unpaid winnings, licensing violations, and improper practices during the transition between the two entities. Blockdance BV has argued that it transferred player credits before relinquishing control, while Small House BV claims it did not assume financial liabilities tied to the acquisition.
BC.Game disputes the judgment, stating that the accusations lack credible evidence and that its internal investigations have exposed significant inconsistencies. The operator maintains that many claims are unverified and fail to demonstrate any legal or technical breaches.
Company Response and Reassurances
In a statement, BC.Game announced plans to appeal what it described as an "erroneous judgment." The operator expressed confidence in its ability to overturn the ruling, emphasizing its adherence to industry standards and regulatory requirements.
“We strongly disagree with the court's latest rulings and 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,” the company stated.
BC.Game reassured its stakeholders, including Leicester City Football Club and esports teams Cloud9 and GuardiaN, that it has no liquidity issues or concerns regarding its financial standing. The company emphasized that its international operations remain unaffected and that it is committed to fulfilling all contractual obligations.
Leicester City Football Club, with which BC.Game has a two-year sponsorship deal, issued a statement acknowledging the ongoing legal case. “BC.Game has assured us that the process initiated in Curaçao is administrative in nature and does not arise from financial instability. They remain fully committed to their obligations, including to the club,” the club stated.
Broader Regulatory Context
This legal challenge comes as BC.Game continues its operations under Curaçao’s updated framework and gambling regulations, having secured a new license in April 2024. The case highlights ongoing scrutiny of Curaçao-licensed operators, with SBGOK pursuing claims against multiple brands, including BC.Game and other entities.
BC.Game has also faced regulatory penalties in other jurisdictions, including fines for operating without proper licenses in Australia and the Netherlands. Despite these challenges, the operator has vowed to maintain compliance and uphold transparency in its operations.
Commitment to Users and Future Steps
BC.Game has reiterated its commitment to user trust and platform integrity, asserting that any compensation claims will be addressed responsibly. The company continues to evaluate options to strengthen compliance measures and ensure business continuity.
As the appeal process unfolds, BC.Game aims to demonstrate its compliance with legal standards and reaffirm its position as a legitimate operator within the cryptocurrency gambling industry.
Source: BC.Game Disputes Bankruptcy Ruling, Pledges Appeal, lcb.org, November 26, 2024.