Leicester City sponsor BC.Game goes bankrupt

Neha Soni November 21, 2024

SiGMA news

Online gambling operator BC.Game, famous for sponsoring Leicester City FC, has been declared bankrupt. This comes four months after BC.Game secured an agreement with the soccer club in July, becoming its Official Principal Partner for the 2024/25 season.

The Court of Curaçao has announced bankruptcy for two companies behind the brand, Blockdance BV and Small House BV, as per a report by casinonieuws.nl. A petition was filed and dismissed in October, which revealed significant losses for the BC.Game brand when it was transferred from Blockdance to Small House. Unpaid obligations and licensing violations were among the allegations made against the company.

The transition led to significant player fund losses, which highlights the financial troubles for the two companies. Therefore, both companies were unable to pay their fees and meet their regulatory requirements. Small House was found in breach of the region’s licensing conditions.

Significant claims were filed against BC.Game by two players, seeking $1.5 million and $680,000 which were allegedly lost during the transition from Blockdance BV to Small House BV. A third claim of about $11,000 also exists against the company, which currently remains disputed.

BC.Game signed the landmark sponsorship deal with Leicester FC in July. Under the $40 million agreement, penned on 5 July, BC.Game’s branding was featured on the club’s athletes’ jerseys.

The partnership stemmed from the operator’s desire to expand its presence across the world. It came several years after Leicester City’s Premier League victory in 2016, which established the club as one of the powerhouses in British soccer.

BC.Game’s statement

BC.Game also ventured into cryptocurrency with a token called $BC, one of the attempts that the company is making towards fast-growing verticals. The token was designed to be integral to BC.Game’s ecosystem and provide players with unique gaming and betting opportunities.

BC.Game released a statement to firmly deny the accusations and said that they lack substantive evidence. Adding that its internal investigations revealed inconsistencies in the claims, and that many are based on unverified or misleading information. Reiterating and emphasising the operational and financial stability of BC.Game’s platform, the company said the legal proceedings pertain only to specific entities involved in administrative processes in Curaçao.