Casbit Group declares bankruptcy in Curacao as iGaming failures continue to rise
Casbit Group N.V., which managed online gambling platforms brands JungliWin, Lalabet, Justbit and 0xBet, has officially been declared bankrupt by a court in Curacao, due to its failure to pay players their winnings, totaling €619,500.
As per casinonieuws.nl, the group broke ties with Curacao back in April after the Netherlands Gaming Authority (KSA) took measures against Casbit for targeting Dutch players without a local license. The imposed penalty was set at €280,000 per week.
Casbit has now become the third online gambling entity involved in the bankruptcy scandal in Curacao in recent weeks. Last month, Small House B.V., the company behind BC.Game, was declared bankrupt.
Additionally, Ligue 1 club Paris Saint-Germain has submitted a bankruptcy claim against their former gambling partners Cbet, alleging that the club's brand name was misused.
