BC Game Withdraws from Curaçao Citing “Hostile” Regulatory Environment
International operations unaffected by license withdrawal
On December 5, cryptocurrency gaming operator BC Game announced its decision to relinquish its Curaçao license, citing an increasingly “hostile” operational environment. The company assured that this move would not impact its international operations, which remain supported by licenses in other jurisdictions, though specific locations were not disclosed.
Legal Challenges Prompt the Move
The announcement follows a November court ruling declaring BC Game bankrupt in a case initiated by The Foundation for the Representation of Victims of Online Gaming (SBGOK). The foundation accused the operator of failing to repay funds owed to players. The Court of First Instance of Curaçao ruled in favour of the claimants.
Despite the bankruptcy ruling, BC Game reassured its stakeholders, including English Premier League club Leicester City, that it is not facing liquidity issues.
Criticism of Curaçao’s Legal Framework
In a statement issued on December 6, BC Game criticised the outdated legal framework in Curaçao, specifically highlighting the 1931 bankruptcy decree still in effect. The operator argued that such a system leaves businesses vulnerable to exploitation.
“This decision is essential for aligning our operational strategy with modern and robust regulatory frameworks, ensuring safety and reliability for our international users,” BC Game stated.
This decision comes amid speculation that BC Game’s Curaçao license could have been revoked. Earlier this year, the operator secured a new license under Curaçao’s reformed gambling regulations introduced by the National Ordinance on Gambling (LOK). At the time, BC Game praised the reforms, aimed at increasing transparency and eliminating sub-licensing practices.
Financial Stability Confirmed
BC Game also addressed rumours regarding its financial health, asserting that its finances remain “in good condition” and that its global operations continue uninterrupted.
“We will continue to meet all ongoing legal and financial obligations,” the company assured.
BC Game’s withdrawal comes amidst heightened scrutiny of Curaçao’s gaming industry. Recently, the Gaming Control Board (GCB) denied allegations of corruption tied to licensing reforms. These accusations, made by opposition party member Luigi Faneyte, targeted Finance Minister Javier Silvania, alleging manipulation in the licensing process.
The GCB dismissed the claims, affirming its legal authority to issue, suspend, or revoke licenses, while denying any involvement in money laundering activities.
