BC.Game, an online gambling operator famous for sponsoring Leicester City FC, has been declared bankrupt. This announcement comes only four months after the agreement with the soccer club was signed.
The Court of Curaçao Declared BC.Game Bankrupt
According to a report by casinonieuws.nl, the Court of Curaçao announced bankruptcy for two companies behind the brand, namely Blockdance BV and Small House BV. As it turns out, a petition that was filed in October, and initially dismissed, revealed significant losses for the BC.Game brand when it was transferred from Blockdance to Small House.
The transition led to significant player fund losses, spelling financial trouble for the two companies. As a result, the two companies were unable to pay their fees and meet their regulatory requirements. Small House was even found in breach of the region’s licensing conditions, casinonieuws.nl added.
Consequently, two players filed significant claims against BC.Game, adding to the operator’s woes. The claims seek $1.5 million and $680,000 which were allegedly lost during the transition from Blockdance BV to Small House BV.
There is also a third claim of almost $11,000, which remains disputed as of the time of this writing.
BC.Game’s Ambition Was Insufficient
BC.Game, for context, signed the landmark sponsorship deal with Leicester FC in July, becoming the club’s Official Principal Partner for the 2024/25 season. Penned on July 5, the $40 million agreement was called the most significant deal in the soccer team’s history. Under the arrangement, BC.Game’s branding was featured on the club’s athletes’ jerseys.
The partnership aligned with the operator’s desire to expand its presence in the world of sports by partnering with a team with a rich history and fervent fans. It came several years after Leicester City’s Premier League victory in 2016, which cemented the club as one of the powerhouses in British soccer.
BC.Game had been trying to tackle multiple fast-growing verticals, also introducing a native cryptocurrency called $BC. The token was designed to be at the heart of the BC.Game ecosystem and provide players with unique gaming and betting opportunities.
