Leicester City remains with bankrupt sponsor amid licence revocation

In Curacao, a court recently declared Blockdance BV and Small House BV, the parent companies of the online gaming platform BC.GAME, bankrupt. Following this ruling, their gaming licence was revoked by the Curaçao Gaming Control Board (GCB) due to a failure to repay £1.5 million owed to a group of gamblers. Despite this bankruptcy declaration, Leicester City chose to retain BC.GAME as their shirt sponsor, expressing confidence in their ability to meet the terms of the £30 million partnership, claiming that half of the payment had already been made. The Premier League club stated they would not reassess the contract until the end of the season, but the revocation of the gaming licence complicates their position significantly. The context surrounding the partnership is further complicated by recent regulatory changes, as the GCB has adopted stricter enforcement rules through the National Ordinance for Games of Chance. Historically, the board had been perceived as lenient but has begun to take a firmer stance towards operators that fall short of financial obligations. Earlier instances like that of Rabidi N.V., who also faced licence revocation after declaring bankruptcy, illustrate a trend within the gambling regulation landscape in Curacao. Leicester City's decision comes at a time when Premier League clubs are under scrutiny for their sponsorship agreements with gambling entities, especially with an impending ban on such partnerships for the 2026-27 season. Currently, Leicester City stands among the many clubs that still benefit from these sponsorship deals, even as public sentiment around gambling sponsorships shifts towards caution, influenced by this incident of bankruptcy. The club was previously charged for breaching spending rules, which raises further questions about their financial stewardship and strategic decision-making regarding sponsorship deals. As the situation develops, the Foxes seem committed to navigating the complexities of their sponsorship arrangement while remaining hopeful about BC.GAME's assurances of financial stability. However, the recent court ruling and the ensuing licence revocation might force the club to reconsider their stance sooner than anticipated, particularly if BC.GAME's ability to sustain their contractual obligations is called into question. The tech-savvy and often rapidly evolving nature of cryptocurrency gaming further complicates the environment, requiring Leicester City to be vigilant in their assessment of future risks associated with their sponsorship decisions.