Rising Tension for Leicester City and BC.Game
Gambling Company Primary Sponsor of Leicester City's Jerseys Files for Bankruptcy
Things just got tougher for Premier League team Leicester City, who, despite being in the 15th spot, are now facing added stress due to the financial woes of their sponsor, BC.Game. Court in Curacao has declared both Blockdance BV and Small House BV, the parent brands of BC.Game, bankrupt.
This ruling has caused quite a stir, raising legitimate concerns about the future of BC.Game. As per reports from The Mirror, the sanction on the Curacao-headquartered firms has put BC.Game in a precarious position.
The gravity of the situation was addressed by Leicester City in an official statement. The team has shown confidence in BC.Game, citing continuous communication with the online gambling firm about the Curacao matter. According to the club, BC.Game has provided assurances that they are actively appealing the case.
Despite the court action, Leicester City stated that BC.Game has asserted they have no issues with liquidity. The club's statement also mentioned that the court case in Curacao was essentially administrative and not about BC.Game's financial standing.
BC.Game's two-year deal with Leicester City is reportedly worth an impressive £30m ($37m) and plays a crucial role in the East Midlands outfit's survival in the EPL. In September, Leicester narrowly escaped a points deduction for losing £129.4m ($162m) over three seasons, an alleged violation of profit and sustainability regulations. It's worth noting that Leicester's losses exceeded the permitted limit by $24m ($30m).
Reports state that BC.Game has confirmed its appeal of the court judgment and alleges several inconsistencies in the evidence presented. The Curacao firm also accused the claimants' attorney of potentially orchestrating a malicious lawsuit for illicit gains. Mirror Football confirmed that BC.Game does not hold a UK gaming license and is blocked to British consumers.
As for BC.Game's operations, the crypto casino platform continues to thrive, offering a large welcome bonus, a vast selection of over 8,000 casino games, and community-focused promotions like a daily 1 billion $BC token rebate program and a Porsche raffle. The company is licensed in Curacao and takes measures such as two-factor authentication and Provably Fair technology for its users' security.
Recent market data show that BC.Game's native token, $BC, has experienced considerable volatility and price surges, reflecting active trading and user engagement. Its market capitalization has even surpassed $78 million and $91 million at certain times, signaling a strong user base and ongoing development.
In summary, BC.Game seems to be operational and growing, with no credible evidence of financial distress or bankruptcy. The company continues to expand promotions and bonuses and holds a Curacao gambling license. However, the court ruling in Curacao has raised questions about BC.Game's future, and it remains to be seen how this unfolds.
- The financial trouble of BC.Game, a sponsor in the fintech sector, poses a challenge for the European-leagues' team, Leicester City, due to the potential impact on the £30m ($37m) two-year deal they have.
- Despite the court's decision declaring BC.Game's parent brands bankrupt, the company maintains that they are not facing liquidity problems and are actively appealing the case.
- Amid concerns about BC.Game's future following the court ruling, the fintech company continues to flourish, offering various promotions, a vast array of casino games, and focusing on user security with measures like two-factor authentication and Provably Fair technology.
