In a move that some may have seen coming, BC Game made the decision to remove its BC Game Curaçao license. Increasing iGaming regulation and Curaçao-specific market challenges are the reasons cited, though the company stressed that it won’t have an impact on any wider international operations.
What is the Background Behind the Decision of BC Game's Departure?
BC Game is an iGaming platform in the cryptocurrency market. It offers a full-service casino, crypto trading, and even online sports betting all under the same platform.
Currently, all gaming operators must go through the Curaçao Gaming Control Board (GCB). BC Game was previously licensed by the GCB, recently earning a license under the National Ordinance for Games of Chance (LOK) though it recently made the decision to withdraw its license. It is currently licensed and regulated by the Government of the Autonomous Island of Anjouan with the license number ALSI-202410011-FI1.
This may have been something of a “writing on the wall” situation for BC Game. It declared bankruptcy in November in a failure to pay player funds that it owed. Curaçao’s Court of First Finance heard the case and related it to previous bankruptcy petitions filed through The Foundation for the Representation of Victims of Online Gaming, a player advocacy network.
The October ruling from SBGOK was a deterrent, especially with BC Game presenting itself as one of the safe online casinos. The company assured its sponsorship partners, including Leicester City of the English Premier League, that it “has no issues with liquidity” and that its other online casino licenses were still viable.
The decision was ultimately made by the crypto gaming platform to pull out of Curaçao entirely. The company put out a press release, declaring the “increasingly hostile environment” as its reason for getting out. It cites a desire to get into more regulated markets, including Canada and British Columbia online casinos, among other provinces and territories.
The game officially withdrew on December 5, 2024. Though it no longer operates in Curaçao, the company still has operations that are “fully compliant” in other jurisdictions. With the increase in regulatory obligations, online gaming companies are facing growing challenges.
A quick summary of the reasons
BC Games believes this decision is for the best due to:
- Perhaps the biggest issue that BC Game cited as a lack of protection for gaming operators.
- In particular, it notes that certain acts and decrees can be exploited and used in turn on the legitimate operators in the country.
- The company is looking to enter into a market that is more focused on regulators that will protect vendors.
- With the decision to pull out of the Curaçao gaming market, that leaves BC Game with just one active license.
BC Game’s decision to depart: what this may mean for the industry
The implications of this move may not be fully felt for some time. BC Game insists that this move will in no way impact its holdings in other jurisdictions. In fact, the company has said that it is an essential move in the effort to not only maintain, but enhance its operational strategy with a goal toward continuity.
BC Game states that it will have “suitably evolved and robust regulatory frameworks of the benefit of its international operations.” If anything, it simply shows that some companies will face unique challenges in the face of stricter and more comprehensive regulatory challenges around the globe.
There are some far-reaching impacts for the industry as a whole. Since many “off shore” sites are licensed through Curaçao, there is a feeling that this could be the first domino to fall. The GCB is facing corruption claims in the wake of its gambling license reform, in particular.
A member of the Real Alternative Party in Curaçao suggested that gambling licenses were issued by the GCB without any real legal basis. Those, the RAP asserts, led to major financial losses. Moreover, Curaçao financial minister Javier Silvania has been accused of corrupting the licensing process. Whether any others plan on withdrawing their license remains to be seen.
My Opinion: BC Game's Decision to Withdraw Its License
Though it is perceived as a blow, it is being trumpeted as a necessary move. Though there will no doubt be short-term implications, BC Game may come out of the situation stronger and more focused on the other jurisdictions in which it operates. If nothing else, it shows that companies may be willing to go elsewhere if certain regulatory issues prove persistent.
Here are other Curaçao licensed casinos that we recommend in 2024:
