Leicester City continue to stand by sponsor BC.Game, despite the crypto casino withdrawing its gaming licence and appearing to no longer operate in the UK.
City, in a second statement about the ongoing situation, said on Thursday evening they have “received the strongest assurances” that BC.Game’s legal dispute “had no bearing on its financial standing”. It came just minutes after the online gambling site’s own statement on the withdrawal of their gaming licence in the Caribbean nation of Curacao, where they had registered and where the dispute is centred.
Last month, BC.Game were declared bankrupt by the Court of Appeal in Curacao after claims were filed against their former and current parent companies over lost funds. The Court deemed that Small House, the current parent company, had failed to meet its financial obligations.
As a result, BC.Game have now withdrawn their gaming licence in Curacao. They said in a statement on Thursday that their decision reflects the “increasingly hostile environment” where “proper legal protection is severely lacking” and where bankruptcy laws “can easily be exploited by malicious actors”.
They also sought to quell any concerns over their financial standing, saying the company “further reaffirms to its stakeholders and the public in general that its financial position remains in good health. All BC.Game’s international operations remain unaffected and BC.Game will continue to fulfil all of its ongoing legal and financial obligations.”
However, when clicking through to the UK site there is a message that reads “bcgame.uk will no longer be available to both new and existing players. Existing players have been contacted to confirm the closure of their accounts.”
Following BC.Game's statement, City said they remain in contact with them and will analyse the situation. City signed a two-year deal worth more than £31m with the online gambling site in the summer. It runs to the end of the 25-26 campaign, with gambling sponsors banned from the front of Premier League shirts for the season after.
City's statement said: “We remain in regular discussions with BC.Game with regard to its Curacao-based dispute and continue to receive the strongest assurances that the process has no bearing on BC.Game’s financial standing or its international operations.
“We note BC.Game’s latest public statement and its reference to the evolving nature of both its industry and its associated regulatory environment. Analysis of this has and will continue to form part of our ongoing due diligence, which is supported by a globally established independent service provider. We will continue to monitor the situation, with consideration at all times to our ongoing contractual rights and obligations.”
In response, supporters group Foxes Trust say they have been in dialogue with City over the matter, amid concerns for the reputational damage of the club. They said: “The Trust has this week been seeking reassurances from the club, and has had some dialogue prior to the release of the statements.
“We will continue to ask questions as the situation develops. No one involved with Leicester City wishes to see its name dragged through the mud in every article written about the situation BC.Game now finds itself in.”