Curaçao regulator appoints trustee to ensure player payments in BC.GAME legal case
Regulator also provides update on licensing reforms following allegations of lack of legal authority to hand out new licences
The Curaçao Gaming Control Board (GCB) has appointed a trustee to “handle the estate and ensure payment” to BC.GAME players amid the ongoing legal dispute over alleged misconduct.
BC.GAME’s parent companies BlockDance BV and Small House BV had been declared bankrupt in Curaçao at the start of November after several players claimed system errors on the platform had led to significant losses.
Players represented by advocacy group Foundation for the Advocation of Victims of Online Gambling (SBGOK) claimed Small House BV withdrew money from various accounts totalling $2.1m.
This was countered by Small House BV, that said the money in question had been settled or was owed to BC.GAME due to exploitation of bonuses or loopholes in its software.
The crypto-first operator has strongly denied all allegations.
However, the GCB has now stepped in to determine “appropriate regulatory measures”.
A statement from the Curaçao regulator read: “Due to confidentiality obligations, the GCB will not comment on specific details of this case.
“The issue involves a dispute between the website (BC.GAME) and certain players. Bankruptcy was declared because Small House/BlockDance failed to pay players due to the dispute, leading to the court’s declaration of bankruptcy.
“However, this bankruptcy is administrative (based on a civil law statute in Curaçao) and is not due to insolvency.
“A trustee has been appointed to handle the estate and ensure payments to players. The GCB is consulting with the regulated entity involved to determine appropriate regulatory measures.”
BC.GAME and its parent company BlockDance are currently under investigation by regulators of several other markets.
This includes in Portugal, where the Portuguese Association of Betting and Online Games has filed criminal complaints against the firm for offering gambling in the country without a licence, as well as the Netherlands, where parent company BlockDance has been fined by the KSA for operating in the market illegally.
The GCB has also given an update on its licensing reforms after a complaint was made regarding the National Ordinance on Games of Chance (LOK) reform process. link
The regulatory board said the allegation that the GCB “lacks the legal authority to grant a licence” is incorrect due to the Minister of Finance mandating the authority to do so in March 2020.
The regulator highlighted that payment for approved licences are paid directly into an official government bank account and not via the online gaming portal, meaning there is no space for mismanagement. Claims of embezzlement, said the GCB, are “therefore not correct”.