Addison Global to be liquidated as player base goes up for sale
Potential seven-figure sale of customer base could generate funds to pay down debts as PwC Gibraltar’s Edgar Lavarello oversees liquidation process
The Addison Global player base is up for sale after liquidators were brought in to ensure an orderly wind down of the business, EGR Intel has learned.
PwC Gibraltar’s Edgar Lavarello was appointed provisional liquidator of the MoPlay parent company on 25 February, by order of the Supreme Court of Gibraltar.
Updating customers for the first time since being declared insolvent and having its gambling licences suspended, MoPlay posted a note to its customer-facing website last night.
It said: “All MoPlay’s activities were immediately suspended and customers have not been able to access or withdraw money from their accounts.
“We regret this situation and apologise for all the inconvenience and hardship caused to customers.
“We are presently exploring possibilities to resolve this situation by seeking to enter into arrangements with the aim of safeguarding the customer balances.
“We thank you for your patience and we confirm that we will make another statement to all our customers as soon as there are any developments on which we can update you.”
EGR Intel understands that one option being considered to protect customer and business liabilities is through the potential sale of the brand’s existing player database – thought to be in the region of 40,000 active users.
UK-centric operators including Star Sports and Virgin Bet have considered the purchase, although a deal has not yet been completed, with PwC understood to be seeking a low seven-figure asking price.
The sale of the player base is likely to include outstanding customer balances, while the business still owes money to affiliates and B2B partners.